Veeva Announces Fiscal 2025 First Quarter Results Shares drop 8%
Veeva Systems Inc., (
VEEV) a leading provider of cloud solutions for the global life sciences industry, announced its fiscal 2025 first quarter results, which showed a 24% increase in revenues and a 29% increase in subscription services revenues. Operating income increased by 152% YoY to $155.2 million, while non-GAAP operating income rose by 66% YoY to $260.9 million. Net income also increased by 23% YoY to $161.7 million, while non-GAAP net income rose by 67% YoY to $247.0 million.
The company's interim CFO and Board Director, Tim Cabral, expressed confidence in the company's performance, stating that they are investing for durable growth and are committed to customer success and product excellence. The company also reported significant wins in clinical, quality, regulatory, and safety, including three top 20 biopharma wins for multiple Development Cloud applications.
Veeva Vault (VEEV) Basics applications are now available, preconfigured with industry standard processes and managed by Veeva with no implementation cost, allowing emerging biotechs to start with Development Cloud earlier in their lifecycle and graduate easily to full Development Cloud as they grow. The Vault CRM Suite progress continues, with the full availability of Vault CRM for all new customers in April, and 13 CRM wins in the quarter.
Veeva (VEEV) added 21 new brands for Compass Patient in the first quarter, including its first seven-figure enterprise-wide win with a top 50 biopharma. The company also signed the first Compass Prescriber and Compass National customers, providing more complete and accurate data than legacy alternatives. Veeva Link also continued to progress well, crossing the 100-customer mark, as the industry enhances engagement through real-time intelligence.
Financial outlook for Veeva (VEEV) is provided for the fiscal second quarter ending July 31, 2024, with total revenues between $666 and $669 million, non-GAAP operating income between $265 and $267 million, and non-GAAP fully diluted net income per share between $1.53 and $1.54.
Technically, Veeva Vault (VEEV) stock is currently oversold with a Relative Strength Index (RSI) of 17.97. The daily price chart shows a "Bearish Harami" candle stick pattern accentuating the bearish campaign.
VEEV) a leading provider of cloud solutions for the global life sciences industry, announced its fiscal 2025 first quarter results, which showed a 24% increase in revenues and a 29% increase in subscription services revenues. Operating income increased by 152% YoY to $155.2 million, while non-GAAP operating income rose by 66% YoY to $260.9 million. Net income also increased by 23% YoY to $161.7 million, while non-GAAP net income rose by 67% YoY to $247.0 million.The company's interim CFO and Board Director, Tim Cabral, expressed confidence in the company's performance, stating that they are investing for durable growth and are committed to customer success and product excellence. The company also reported significant wins in clinical, quality, regulatory, and safety, including three top 20 biopharma wins for multiple Development Cloud applications.
Veeva Vault (
VEEV) Basics applications are now available, preconfigured with industry standard processes and managed by Veeva with no implementation cost, allowing emerging biotechs to start with Development Cloud earlier in their lifecycle and graduate easily to full Development Cloud as they grow. The Vault CRM Suite progress continues, with the full availability of Vault CRM for all new customers in April, and 13 CRM wins in the quarter.Veeva (
VEEV) added 21 new brands for Compass Patient in the first quarter, including its first seven-figure enterprise-wide win with a top 50 biopharma. The company also signed the first Compass Prescriber and Compass National customers, providing more complete and accurate data than legacy alternatives. Veeva Link also continued to progress well, crossing the 100-customer mark, as the industry enhances engagement through real-time intelligence.Financial outlook for Veeva (
VEEV) is provided for the fiscal second quarter ending July 31, 2024, with total revenues between $666 and $669 million, non-GAAP operating income between $265 and $267 million, and non-GAAP fully diluted net income per share between $1.53 and $1.54.Technically, Veeva Vault (
VEEV) stock is currently oversold with a Relative Strength Index (RSI) of 17.97. The daily price chart shows a "Bearish Harami" candle stick pattern accentuating the bearish campaign.
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