Veeva Q1 revenue $505.1M (+16% YoY); non-GAAP EPS $0.99 vs $0.91

VEEVA SYSTEMS INC

2022-Q1 EPS reported $0.62 revenue$505,102,000

Total revenues $505.1M, up 16% YoY; subscription services $402.6M, up 18% YoY.
GAAP net income $100.1M ($0.62 diluted EPS); non-GAAP net income $159.8M ($0.99 EPS).
Crossed $2B annual revenue run rate; non-GAAP operating income up 10% YoY to $199.6M.
Top 20 pharma adopted 12 Development Cloud products; >350 customers have 2+ apps.
Management cites 15% penetration in $7B R&D TAM, sees long growth runway.

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