Loading...
•
Jan 31, 2023
Veeva Q4 2023 Earnings Report
Veeva reported strong Q4 2023 results, with revenue and subscription services revenue up 16% year-over-year.
Key Takeaways
Veeva announced its Q4 and Fiscal Year 2023 results, demonstrating growth in revenue and expanding partnerships within the life sciences industry. The company exceeded $2 billion in revenue and is progressing towards its 2025 targets ahead of schedule.
Total revenues for the fourth quarter were $563.4 million, up 16% year over year.
Subscription services revenues for the fourth quarter were $460.2 million, up 16% year over year.
Fourth quarter net income was $188.5 million, an increase of 94% year over year.
Fully diluted net income per share was $1.16, while non-GAAP fully diluted net income per share was $1.15.
Forward Guidance
Veeva provided guidance for its fiscal first quarter ending April 30, 2023 and fiscal year ending January 31, 2024, as well as fiscal year ending January 31, 2025 for total revenues and Non-GAAP operating income.
Positive Outlook
- Total revenues between $514 and $516 million for Q1 2024.
- Non-GAAP operating income between $141 and $143 million for Q1 2024.
- Non-GAAP fully diluted net income per share between $0.79 and $0.80 for Q1 2024.
- Total revenues between $2,350 and $2,360 million for FY 2024.
- Total revenues of at least $2,800 million for FY 2025.
Challenges Ahead
- Non-GAAP operating income of about $800 million for FY 2024.
- Non-GAAP fully diluted net income per share of approximately $4.33 for FY 2024.
- Non-GAAP operating income of at least $1,000 million for FY 2025.
- Veeva is not able to provide GAAP targets for operating income and fully diluted net income per share for the first fiscal quarter ending April 30, 2023, fiscal year ending January 31, 2024, or fiscal year ending January 31, 2025.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...