Veeva Q2 2021 Earnings Report
Key Takeaways
Veeva Systems Inc. reported a 33% increase in total revenues, reaching $353.7 million, and a 30% increase in subscription services revenues, totaling $283.5 million, for the fiscal second quarter ended July 31, 2020.
Total revenues increased by 33% year-over-year, reaching $353.7 million.
Subscription services revenues grew by 30% year-over-year, amounting to $283.5 million.
Operating income increased by 22% year-over-year, totaling $90.1 million.
Net income increased by 18% year-over-year, reaching $93.6 million.
Veeva
Veeva
Veeva Revenue by Segment
Forward Guidance
Veeva provided guidance for its fiscal third quarter ending October 31, 2020, with total revenues expected to be between $360 and $362 million, non-GAAP operating income between $138 and $140 million, and non-GAAP fully diluted net income per share between $0.66 and $0.68. For the fiscal year ending January 31, 2021, Veeva anticipates total revenues between $1,415 and $1,420 million, non-GAAP operating income between $540 and $545 million, and non-GAAP fully diluted net income per share between $2.64 and $2.67.
Positive Outlook
- Total revenues are projected to be between $360 and $362 million for the next quarter.
- Non-GAAP operating income is expected to range from $138 to $140 million for the next quarter.
- Non-GAAP fully diluted net income per share is anticipated to be between $0.66 and $0.68 for the next quarter.
- Total revenues are forecasted to be between $1,415 and $1,420 million for the full fiscal year.
- Non-GAAP operating income is projected to range from $540 to $545 million for the full fiscal year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income