Veeva Systems Inc. (VEEV) Q1 2027 Financial Results Summary
QuoteReporter
Veeva Systems Inc. (VEEV) Q1 2027: Revenue Growth Accelerates — Positive Outlook
Veeva Systems Inc. (NYSE: VEEV) reported its fiscal 2027 first-quarter results, showcasing a robust performance with total revenues of $882.9 million, reflecting an increase of $123.9 million or 16% year over year from $759.0 million in the same quarter last year. This growth was primarily driven by a 15% year-over-year increase in subscription revenues, which reached $730.2 million, up from $634.8 million.
This quarter's results are a positive development for shareholders, indicating strong demand for Veeva's cloud solutions in the life sciences sector. The company not only met but exceeded its guidance across all metrics, which is a strong indicator of operational efficiency and market positioning.
Key Financial Metrics:
- Total Revenues: $882.9 million, up 16% YoY from $759.0 million.
- Subscription Revenues: $730.2 million, up 15% YoY from $634.8 million.
- Operating Income: $273.1 million, up 17% YoY from $233.7 million.
- Non-GAAP Operating Income: $395.4 million, up 13% YoY from $349.9 million.
- Net Income: $260.9 million, up 14% YoY from $228.2 million.
- Non-GAAP Net Income: $371.1 million, up 13% YoY from $327.8 million.
- Diluted Net Income per Share: $1.57, up from $1.37 YoY.
- Non-GAAP Diluted Net Income per Share: $2.24, up from $1.97 YoY.
Shareholder Returns and Guidance
Veeva's management expressed satisfaction with the quarter's performance, highlighting broad-based growth and profitability. The company has raised its fiscal 2027 guidance, projecting total revenues between $3,635 million and $3,645 million and non-GAAP operating income of about $1,610 million. For the fiscal second quarter ending July 31, 2026, Veeva expects total revenues between $902 million and $905 million and non-GAAP fully diluted net income per share between $2.21 and $2.22.
Strategic Developments
Veeva's strategic focus on AI is noteworthy, with significant advancements in its Veeva AI initiatives. The acquisition of Ostro is expected to enhance its capabilities in delivering compliant conversational AI, which is already being utilized for over 50 brands. The upcoming release of Veeva Falcon, aimed at improving productivity in clinical, regulatory, and safety processes, is anticipated to generate strong customer interest.
Forward-Looking Catalysts
Investors should keep an eye on Veeva's continued expansion in AI and its impact on revenue growth. The upcoming release of Veeva Falcon in November and the expansion of Vault AI across all applications in August are critical developments that could further enhance Veeva's market position and drive future revenue growth. Additionally, the company's ability to maintain its growth trajectory amid evolving market dynamics will be crucial for sustaining investor confidence.
In summary, Veeva's first-quarter results for fiscal 2027 reflect a strong performance with significant year-over-year growth in revenues and profitability. The raised guidance and strategic advancements in AI position the company favorably for the upcoming quarters, making it an attractive prospect for investors looking for growth in the life sciences technology sector.
Note: All amounts are in thousands.
| Three months ended | April 30, 2026 | April 30, 2025 |
|---|---|---|
| Revenues: | - | - |
| Subscription(3) | $730,175 | $634,768 |
| Professional services and other(4) | 152,773 | 124,275 |
| Total revenues | 882,948 | 759,043 |
| Cost of revenues(5): | - | - |
| Cost of subscription | 99,103 | 78,346 |
| Cost of professional services and other | 121,821 | 95,478 |
| Total cost of revenues | 220,924 | 173,824 |
| Gross profit | 662,024 | 585,219 |
| Operating expenses(5): | - | - |
| Research and development | 208,323 | 184,033 |
| Sales and marketing | 111,117 | 98,628 |
| General and administrative | 69,472 | 68,826 |
| Total operating expenses | 388,912 | 351,487 |
| Operating income | 273,112 | 233,732 |
| Other income, net | 74,418 | 65,089 |
| Income before income taxes | 347,530 | 298,821 |
| Income tax provision | 86,594 | 70,631 |
| Net income | $260,936 | $228,190 |
| Net income per share: | - | - |
| Basic | $1.60 | $1.40 |
| Diluted | $1.57 | $1.37 |
| Weighted-average shares used to compute | - | - |
| net income per share: | - | - |
| Basic | 163,345 | 162,749 |
| Diluted | 165,989 | 166,229 |
| Other comprehensive income: | - | - |
| Net change in unrealized (loss) gain on | $-27,451 | $17,367 |
| available-for-sale investments | - | - |
| Net change in cumulative foreign | -501 | -38 |
| currency translation loss | - | - |
| Comprehensive income | $232,984 | $245,519 |
Note: All amounts are in thousands.
| - | April 30, 2026 | January 31, 2026 |
|---|---|---|
| Assets | - | - |
| Current assets: | - | - |
| Cash and cash equivalents | $1,896,580 | $1,421,233 |
| Short-term investments | 5,416,139 | 5,139,581 |
| Accounts receivable, net | 568,020 | 1,259,737 |
| Unbilled accounts receivable | 59,752 | 50,609 |
| Prepaid expenses and other current | 122,770 | 126,470 |
| assets | - | - |
| Total current assets | 8,063,261 | 7,997,630 |
| Property and equipment, net | 73,484 | 70,261 |
| Deferred costs, net | 28,686 | 29,961 |
| Lease right-of-use assets | 82,060 | 75,626 |
| Goodwill | 488,161 | 439,877 |
| Intangible assets, net | 55,508 | 30,314 |
| Deferred income taxes | 272,665 | 273,417 |
| Other long-term assets | 65,733 | 62,257 |
| Total assets | $9,129,558 | $8,979,343 |
| Liabilities and stockholders’equity | - | - |
| Current liabilities: | - |
DisclaimerThe content on MarketsFN.com is provided for educational and informational purposes only. It does not constitute financial advice, investment recommendations, or trading guidance. All investments carry risk and past performance does not guarantee future results. You are solely responsible for your investment decisions and should conduct independent research and consult a qualified financial advisor before acting. MarketsFN.com and its authors are not liable for any losses or damages arising from the use of this information. Related ArticlesTrending Stocks DocGo (DCGO) DCGO Financial Results SummaryDocGo Inc. (DOCG) Q3 2026: Merger Agreement Announced — Strategic Move In a significant development, DocGo Inc. (DOCG) has announced a merger agreement with Ambulnz Holdings, LLC, and Hicuity Health, Inc., dated August 16, 2026. This merger is poised to reshape the landscape of healthcare services... QuoteReporter 3 minAug 18, 2026 Trending Stocks Duos Technologies Group (DUOT) Q3 2026 Financial Results SummaryDuos Technologies Group, Inc. (DUOT) Q3 2026: Major Hosting Agreements Signed — Positive Outlook Duos Technologies Group, Inc. (DUOT) has announced a significant commercial milestone with the execution of five-year hosting agreements with Axe Compute Inc. valued at over $500 million. This... QuoteReporter 2 minAug 18, 2026 Trending Stocks Flexsteel Industries (FLXS) Q4 2026 Financial Results SummaryFlexsteel Industries, Inc. (FLXS) Q4 2026: Modest Growth Amid Challenges — Cautiously Optimistic Flexsteel Industries, Inc. (NASDAQ: FLXS) reported its fourth quarter and fiscal year 2026 results, revealing a slight increase in net sales compared to the prior year. For the quarter, net sales... QuoteReporter 3 minAug 18, 2026 |