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Apr 30, 2020
Veeva Q1 2021 Earnings Report
Veeva's Q1 2021 results were announced, demonstrating strong growth and adaptability.
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
Revenue by Segment
Subscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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