Veeva Systems Inc (NYSE:VEEV) stock rose 7.19% (As on March 6, 11:19:00 AM UTC-4, Source: Google Finance) after the company reported fourth quarter earnings and revenue that exceeded analyst expectations, while also providing an upbeat outlook for the current quarter and full fiscal year. Subscription services revenues for the fourth quarter were $608.6 million, up from $521.5 million one year ago, an increase of 17% year over year. Non-GAAP operating income for the fourth quarter was $307.7 million, compared to $239.1 million one year ago, an increase of 29% year over year. Non-GAAP net income for the fourth quarter was $287.9 million, compared to $226.3 million one year ago, an increase of 27% year over year. Further, Veeva deepened its strategic partnerships across all customer segments – from top 20 biopharmas to emerging biotechs. Expanding with both new and existing customers, Veeva finished the year with a total of 1,477 customers, including 1,125 in Veeva R&D Solutions and 730 in Veeva Commercial Solutions. The company has also expanded the Vault CRM Suite in the quarter with the release of Campaign Manager, following the August availability of Service Center. More than 50 customers are now live on Vault CRM, and eight customers have migrated from Veeva CRM to Vault CRM with more underway.
Moreover, Quality Cloud added 41 new customers and more than 20 existing customers expanded their use of Veeva Quality Cloud products. The fourth top 20 biopharma selected Veeva Safety. In February, the second top 20 biopharma went live with Veeva Safety and is now rolling out the full Safety Suite. Expansion across clinical continued in Q4 as well, including a top 20 biopharma taking a full Clinical Platform approach – adding six major clinical applications all at once – representing one of Veeva’s largest subscription orders ever.
VEEV in the fourth quarter of FY25 has reported the adjusted earnings per share of $1.18, missing the analysts’ estimates for the adjusted earnings per share of $1.58, according to analysts polled by FactSet. The company had reported the adjusted revenue growth of 14 percent to $720.9 million in the fourth quarter of FY25, beating the analysts’ estimates for revenue of $699.2 million.
The company forecast fiscal Q1 non-GAAP earnings of $1.74 to $1.75 a share on revenue of $726 million to $729 million. Analysts surveyed by FactSet expect EPS of $1.63 on revenue of $726.5 million.
The company projects full-year non-GAAP earnings of $7.32 a share on revenue of $3.04 billion to $3.055 billion. Analysts polled by FactSet expect EPS of $6.97 on revenue of $3.06 billion.