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Apr 30
Veeva Q1 2026 Earnings Report
Reported strong financial results for the first quarter of fiscal year 2026
Key Takeaways
Veeva Systems announced a strong start to fiscal year 2026 with total revenues reaching $759.0 million, a 17% increase year over year. Subscription services revenue grew by 19%, contributing significantly to the overall growth. Both GAAP and non-GAAP operating income and net income saw substantial increases, exceeding guidance.
Total revenues for Q1 FY2026 were $759.0 million, a 17% increase compared to the same period last year.
Subscription services revenues grew by 19% year over year to $634.8 million.
GAAP operating income increased by 51% year over year to $233.7 million.
Non-GAAP diluted net income per share was $1.97, a 31% increase from $1.50 in the prior year.
Veeva
Veeva
Veeva Revenue by Segment
Revenue by Segment
Subscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.comVeeva Commercial Revenue
CapyFin.comVeeva R&D Revenue
CapyFin.com Forward Guidance
Veeva provided guidance for the second fiscal quarter ending July 31, 2025, and updated guidance for the full fiscal year ending January 31, 2026.
Positive Outlook
- Fiscal Q2 2026 total revenue expected between $766 million and $769 million.
- Fiscal Q2 2026 non-GAAP operating income expected between $335 million and $337 million.
- Fiscal Q2 2026 non-GAAP fully diluted net income per share expected between $1.89 and $1.90.
- Fiscal Year 2026 total revenue expected between $3,090 million and $3,100 million.
- Fiscal Year 2026 non-GAAP operating income expected to be about $1,360 million.
Challenges Ahead
- Difficulty in estimating GAAP targets for operating income and fully diluted net income per share due to unpredictable excluded items like stock-based compensation.
- Guidance involves assumptions and internal estimates that may prove incorrect.
- Numerous risks could negatively impact financial performance, including product performance, competition, customer decisions, industry developments, and macroeconomic/geopolitical events.
- No obligation to update forward-looking guidance.
- Risks summarized in Form 10-K filing and subsequent SEC filings.
Revenue & Expenses
Visualization of income flow from segment revenue to net income