Veeva Q3 FY2023 rev $552.4M +16%; EPS $0.67 GAAP, $1.13 non-GAAP; 10-year Merck partnership

VEEVA SYSTEMS INC

2022-Q3 EPS reported $1.84 revenue$1,591,671,000

Total revenues $552.4M (+16% YoY); subscription services $441.6M (+16% YoY).
GAAP net income $108.5M ($0.67 diluted EPS); non-GAAP net income $183.2M ($1.13 diluted EPS).
Non-GAAP operating income $219.5M (+10% YoY); GAAP operating income $121.4M (-9% YoY).
Signed 10-year strategic partnership with Merck (MSD); Merck adopts Veeva-first approach for new software and data.
CFO says results above guidance; CEO says tracking a year ahead of 2025 targets.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

VEEVA SYSTEMS INC reported third quarter ended October 31, 2022 results: revenue $552.4 million, net income $108.5 million, EPS $0.67.

Period: third quarter ended October 31, 2022
Revenue: $552.4 million
Net income: $108.5 million
EPS: $0.67
Result: reported results

Exact text from the filing

Fiscal 2023 Third Quarter Results: • Revenues : Total revenues for the third quarter were $552.4 million, up from $476.1 million one year ago, an increase of 16% year over year. Subscription services revenues for the third quarter were $441.6 million, up from $380.7 million one year ago, an increase of 16% year over year. • Operating Income and Non-GAAP Operating Income (1) : Third quarter operating income was $121.4 million, compared to $132.7 million one year ago, a decrease of 9% year over year. Non-GAAP operating income for the third quarter was $219.5 million, compared to $199.4 million one year ago, an increase of 10% year over year. • Net Income and Non-GAAP Net Income (1) : Third quarter net income was $108.5 million, compared to $105.9 million one year ago, an increase of 2% year over year. Non-GAAP net income for the third quarter was $183.2 million, compared to $158.2 million one year ago, an increase of 16% year over year. • Net Income per Share and Non-GAAP Net Income per

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accession 0001393052-22-000045

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