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Apr 30, 2021
Veeva Q1 2022 Earnings Report
Veeva's Q1 2022 results were announced, demonstrating strong growth and customer success.
Key Takeaways
Veeva Systems Inc. reported a 29% year-over-year increase in total revenues, reaching $433.6 million for the first quarter of fiscal year 2022. Subscription services revenues grew by 26% year-over-year to $341.1 million. The company added a record 59 new customers, bringing the total customer count to over 1,000.
Total revenues increased by 29% year-over-year to $433.6 million.
Subscription services revenues grew by 26% year-over-year to $341.1 million.
Operating income increased by 47% year-over-year to $128.4 million.
The company added a record 59 new customers in the first quarter.
Veeva
Veeva
Forward Guidance
Veeva provided guidance for its fiscal second quarter ending July 31, 2021, with total revenues expected to be between $450 and $452 million and non-GAAP fully diluted net income per share between $0.85 and $0.86. For the fiscal year ending January 31, 2022, total revenues are expected to be between $1,815 and $1,825 million, with non-GAAP fully diluted net income per share of approximately $3.49.
Positive Outlook
- Total revenues between $450 and $452 million for Q2 2022.
- Non-GAAP operating income between $175 and $177 million for Q2 2022.
- Non-GAAP fully diluted net income per share between $0.85 and $0.86 for Q2 2022.
- Total revenues between $1,815 and $1,825 million for FY 2022.
- Non-GAAP operating income of about $710 million for FY 2022.