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Jan 31
Veeva Q4 2025 Earnings Report
Veeva reported strong Q4 2025 revenue growth, driven by subscription services and operational efficiencies.
Key Takeaways
Veeva reported total Q4 2025 revenue of $720.9 million, up 14% year-over-year. Subscription services revenue grew 17% to $608.6 million, reinforcing the company's strong recurring revenue base. GAAP net income increased to $195.6 million, with non-GAAP net income reaching $287.9 million. The company continues to expand across commercial and R&D solutions, positioning itself well for long-term growth.
Total Q4 revenue grew 14% YoY to $720.9 million.
Subscription services revenue increased 17% YoY to $608.6 million.
GAAP net income rose to $195.6 million, up 33% YoY.
Non-GAAP EPS reached $1.74, up from $1.38 in the prior year.
Veeva
Veeva
Forward Guidance
Veeva expects Q1 FY26 revenue between $726M and $729M, with non-GAAP EPS of $1.74 to $1.75. Full-year revenue is forecasted between $3.04B and $3.055B, with non-GAAP EPS of approximately $7.32.
Positive Outlook
- Q1 FY26 revenue expected between $726M-$729M.
- Full-year revenue forecasted at $3.04B-$3.055B.
- Non-GAAP operating income projected at $1.3B for FY26.
- Continued growth in subscription revenue across Commercial and R&D Solutions.
- Strong customer retention and expansion, with 1,477 total customers.
Challenges Ahead
- Professional services revenue growth remains relatively flat.
- Macroeconomic challenges could impact enterprise spending.
- Stock-based compensation expenses continue to rise.
- Regulatory uncertainties could slow adoption of new solutions.
- R&D investments expected to increase operating expenses.