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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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