---
schema_version: "secwatch.filing_event.v1"
accession: "0001393052-23-000057"
form_type: "8-K"
ticker: "VEEV"
cik: "0001393052"
company_name: "VEEVA SYSTEMS INC"
filed_at: "2023-11-09T23:59:59+00:00"
generated_at: "2026-06-08T06:20:48.975961+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Veeva cuts FY2024 revenue guidance by $15M and FY2025 by $50M; Q3 prelim revenue $616M

## Summary
- Q3 preliminary: revenue $616M, subscription $495M, services $121M; operating income $125M, non-GAAP OI $232M.
- FY2024 revenue guidance lowered to $2.355B (down $15M); non-GAAP OI raised to $827M (up $7M).
- FY2025 revenue guidance cut to at least $2.75B from $2.8B; non-GAAP OI target unchanged at $1B.
- CEO cites macro headwinds from Middle East conflict, inflation, political uncertainty impacting biotech spending.
- Subscription revenue outlook unchanged for FY2024 and FY2025; services weakness drives reductions.

## SEC filing metadata
- accession: 0001393052-23-000057
- form_type: 8-K
- ticker: VEEV
- cik: 0001393052
- company_name: VEEVA SYSTEMS INC
- filed_at: 2023-11-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1393052/000139305223000057/0001393052-23-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1393052/000139305223000057/veev-20231109.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001393052-23-000057
- JSON: https://secwatch.observer/filing/0001393052-23-000057.json
- Plain text: https://secwatch.observer/filing/0001393052-23-000057.txt

## Key facts
- Earnings Releases
  VEEVA SYSTEMS INC reported FQ3 2024 (three months ended October 31, 2023) results: revenue Total revenue of $616 million, net income Operating income of $125 million. Guidance initiated.
  - Period: FQ3 2024 (three months ended October 31, 2023)
  - Revenue: Total revenue of $616 million
  - Net income: Operating income of $125 million
  - Guidance: initiated
  - Result: guidance update
  source text: During the Investor Day presentation, the Company intends to provide the following update to its expected results for the fiscal third quarter ended October 31, 2023: • Total revenue of $616 million. • Subscription revenue of $495 million. • Services revenue of $121 million. • Operating income of $125 million and non-GAAP operating income of $232 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1393052/000139305223000057/0001393052-23-000057-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.