secwatch.observer — SEC 8-K summary
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Issuer:     VEEVA SYSTEMS INC (VEEV)
CIK:        0001393052
Form:       8-K
Filed at:   2023-11-09T23:59:59+00:00
Accession:  0001393052-23-000057
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1393052/000139305223000057/0001393052-23-000057-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1393052/000139305223000057/veev-20231109.htm
  HTML page:      https://secwatch.observer/filing/0001393052-23-000057

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