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Veeva Systems 8-K Report, Financial Results (Mar 5, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed March 5, 2025
Period End
March 5, 2025
Security
VEEV
In the record · 2016–202610-K1110-Q328-K94

VEEV filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 94 current reports (8-K) between 2016 and 2026.

  1. Deal closed8-K · Nov ’19Nov ’19
  2. Leadership change8-K · Aug ’22Aug ’22
  3. Leadership change8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed March 5, 2025. Cited figures are marked; the original filing is the authoritative source.

Veeva Systems Inc. (NYSE: VEEV) reported fourth quarter and fiscal year 2025 results for the fiscal year ended January 31, 2025, via a press release furnished as Exhibit 99.1.

Fiscal year 2025 total revenues were $2,746.6 milliona, up 16% year over year, and subscription services revenues were $2,284.7 million, up 20%. Fourth-quarter total revenues were $720.9 million, up 14%, and subscription services revenues were $608.6 million, up 17%. GAAP operating income for the fiscal year was $691.4 million, up 61%, and non-GAAP operating income was $1,152.3 million, up 37%.

GAAP net income was $714.1 millionb, and fully diluted GAAP net income per share was $4.32, compared with $6.60 on a non-GAAP basis. Management stated it closed the year with results ahead of guidance for all metrics. The company ended the year with 1,477 customers, including 1,125 in Veeva R&D Solutions and 730 in Veeva Commercial Solutions.

Highlights include the December release of Vault CRM, more than 50 customers live on Vault CRM, and a fourth top-20 biopharma selecting Veeva Safety. For fiscal 2026 (ending January 31, 2026), Veeva guided to total revenues of $3,040 million to $3,055 millionc, non-GAAP operating income of about $1,300 million, and non-GAAP fully diluted net income per share of approximately $7.32.

For the first quarter ending April 30, 2025, guidance is total revenues of $726 million to $729 milliond, non-GAAP operating income of $307 million to $309 million, and non-GAAP fully diluted EPS of $1.74 to $1.75. The company notes that GAAP guidance for operating income and EPS is not provided because certain items, such as stock-based compensation, cannot be reasonably predicted.

02—Key points

Key Highlights

  1. FY2025 total revenues of $2,746.6 million, up 16% year over year; subscription services revenues of $2,284.7 million, up 20%.
  2. Q4 total revenues of $720.9 million, up 14%; Q4 subscription services revenues of $608.6 million, up 17%.
  3. FY2025 GAAP operating income of $691.4 million (up 61%) and non-GAAP operating income of $1,152.3 million (up 37%).
  4. FY2025 GAAP net income of $714.1 million (up 36%); fully diluted GAAP EPS of $4.32 versus $6.60 non-GAAP.
  5. Ended the fiscal year with 1,477 customers, including 1,125 in R&D Solutions and 730 in Commercial Solutions.
  6. FY2026 guidance: total revenues of $3,040–$3,055 million, non-GAAP operating income of about $1,300 million, and non-GAAP EPS of approximately $7.32.
  7. Q1 FY2026 guidance: total revenues of $726–$729 million, non-GAAP operating income of $307–$309 million, and non-GAAP EPS of $1.74–$1.75.

03—Questions

Frequently Asked Questions

  1. How did Veeva perform financially in fiscal year 2025?

    Total revenues were $2,746.6 million, up 16% year over year, and subscription services revenues were $2,284.7 million, up 20%. GAAP operating income rose 61% to $691.4 million, and GAAP net income rose 36% to $714.1 million.

  2. What is Veeva's guidance for fiscal year 2026?

    Veeva expects total revenues of $3,040 million to $3,055 million, non-GAAP operating income of about $1,300 million, and non-GAAP fully diluted net income per share of approximately $7.32. The company did not provide GAAP targets for operating income or EPS because certain excluded items, such as stock-based compensation, cannot be reasonably predicted.

  3. What did Veeva's fourth quarter look like?

    Q4 total revenues were $720.9 million, up 14%, and Q4 subscription services revenues were $608.6 million, up 17%. Q4 GAAP operating income was $188.4 million, up 39%, and non-GAAP operating income was $307.7 million, up 29%. Q4 fully diluted GAAP EPS was $1.18, compared with $0.90 a year earlier.

  4. What were the key business highlights reported for the year?

    Veeva finished the year with 1,477 customers. Vault CRM was released in December, with more than 50 customers live on it. Quality Cloud added 41 new customers in Q4, and a fourth top-20 biopharma selected Veeva Safety. A top-20 biopharma also adopted a full Clinical Platform approach, which the company described as one of its largest subscription orders ever.

04—Continue

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