secwatch.observer — SEC 8-K summary
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Issuer:     VEEVA SYSTEMS INC (VEEV)
CIK:        0001393052
Form:       8-K
Filed at:   2023-05-31T23:59:59+00:00
Accession:  0001393052-23-000031
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393052/000139305223000031/0001393052-23-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393052/000139305223000031/veev-20230531.htm
  HTML page:      https://secwatch.observer/filing/0001393052-23-000031

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer