Veeva Q1: Revenue $526.3M (+4% YoY), GAAP EPS $0.81, operating income down 52%

VEEVA SYSTEMS INC

2024-Q1 EPS reported $0.81 revenue$526,325,000

Revenue $526.3M (+4% YoY); subscription revenue $414.5M (+3% YoY).
GAAP operating income $61.5M, down 52% YoY; non-GAAP operating income $157.0M, down 21%.
GAAP net income $131.5M (+31% YoY); non-GAAP net income $147.9M (-7% YoY).
GAAP diluted EPS $0.81 vs $0.62; non-GAAP diluted EPS $0.91 vs $0.99.
Customer contracting change (TFC rights) effective Feb 1, 2023, impacted revenue timing and income.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

VEEVA SYSTEMS INC reported first quarter ended April 30, 2023 results: revenue $526.3 million, net income $131.5 million, EPS $0.81 per share.

Period: first quarter ended April 30, 2023
Revenue: $526.3 million
Net income: $131.5 million
EPS: $0.81 per share
Result: reported results

Exact text from the filing

Veeva Systems Inc. (NYSE: VEEV), a leading provider of industry cloud solutions for the global life sciences industry, today announced results for its first quarter ended April 30, 2023. “It was a strong start to the year for Veeva and we are executing well on our goal to power the most critical functions for the life sciences industry,” said CEO Peter Gassner. “We announced a number of new innovations, connected the industry at Veeva Commercial Summit, and continued progress in key areas across commercial and R&D.” Fiscal 2024 First Quarter Results: • Revenues : Total revenues for the first quarter were $526.3 million, up from $505.1 million one year ago, an increase of 4% year over year. Subscription services revenues for the first quarter were $414.5 million, up from $402.6 million one year ago, an increase of 3% year over year. • Operating Income and Non-GAAP Operating Income (1) : First quarter operating income was $61.5 million, compared to $127.7 million one year ago, a decrease

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Source: SEC EDGAR

accession 0001393052-23-000031

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