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Jul 31, 2020
Veeva Q2 2021 Earnings Report
Veeva's Q2 2021 financial results were announced, demonstrating strong year-over-year growth.
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
Revenue by Segment
Subscription Services Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com 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