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Jul 31, 2023
Veeva Q2 2024 Earnings Report
Veeva reported strong financial results, exceeding guided metrics and demonstrating progress in CRM and clinical areas.
Key Takeaways
Veeva Systems Inc. announced its fiscal 2024 second-quarter results, with total revenues of $590.2 million, a 10% increase year over year. Subscription services revenues also grew by 10% to $470.6 million. The company's net income increased by 23% year over year, reaching $111.6 million, with fully diluted net income per share at $0.68.
Total revenues increased by 10% year over year, reaching $590.2 million.
Subscription services revenues also increased by 10% year over year, reaching $470.6 million.
Net income increased by 23% year over year, reaching $111.6 million.
Non-GAAP operating income increased by 5% year over year, reaching $211.9 million.
Veeva
Veeva
Forward Guidance
Veeva provided guidance for its fiscal third quarter ending October 31, 2023, and updated guidance for its fiscal year ending January 31, 2024. Veeva is reiterating guidance for its fiscal year ending January 31, 2025.
Positive Outlook
- Total revenues between $614 and $616 million for Q3 2024.
- Non-GAAP operating income between $223 and $225 million for Q3 2024.
- Non-GAAP fully diluted net income per share between $1.26 and $1.27 for Q3 2024.
- Total revenues between $2,365 and $2,370 million for fiscal year 2024.
- Total revenues of at least $2,800 million for fiscal year 2025.