Veeva Q1 2021 Earnings Report
Key Takeaways
Veeva announced strong Q1 2021 results with total revenues of $337.1 million, up 38% year-over-year, and subscription services revenues of $270.2 million, up 36% year-over-year. The company's ability to adapt quickly enabled them to deliver results above plan, and they will continue to invest in their growing product portfolio.
Total revenues reached $337.1 million, a 38% increase year-over-year.
Subscription services revenues grew to $270.2 million, up 36% year-over-year.
Operating income increased by 23% year-over-year to $87.6 million.
Net income rose by 18% year-over-year to $86.6 million.
Veeva
Veeva
Veeva Revenue by Segment
Forward Guidance
Veeva provided guidance for its fiscal second quarter ending July 31, 2020, with total revenues between $339 and $341 million and non-GAAP fully diluted net income per share between $0.63 and $0.64. For the fiscal year ending January 31, 2021, the company expects total revenues between $1,380 and $1,395 million and non-GAAP fully diluted net income per share between $2.50 and $2.55.
Positive Outlook
- Total revenues are expected to be between $339 and $341 million for the second quarter.
- Non-GAAP operating income is projected to be between $126 and $128 million for the second quarter.
- Non-GAAP fully diluted net income per share is anticipated to be between $0.63 and $0.64 for the second quarter.
- Total revenues are forecasted to be between $1,380 and $1,395 million for the full fiscal year.
- Non-GAAP fully diluted net income per share is expected to be between $2.50 and $2.55 for the full fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income