NYSE$VEEV
Veeva Systems Inc A · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Veeva's first quarter of fiscal year 2024 resulted in revenue growth and exceeded guidance.
Veeva announced its Q1 2024 results with total revenues of $526.3 million, a 4% increase year-over-year, and subscription services revenues of $414.5 million, a 3% increase year-over-year. The company's financial results exceeded guidance.
- Total revenues for the first quarter were $526.3 million, up 4% year over year.
- Subscription services revenues for the first quarter were $414.5 million, up 3% year over year.
- First quarter net income was $131.5 million, an increase of 31% year over year.
- Non-GAAP net income per share was $0.91, compared to $0.99 one year ago.
Headline financials
Revenue & EPS history
Veeva · Revenue · Quarterly
$526M
Revenue by segment
Veeva · $759M total across 2 segments · Q1 2026
- R&D Solutions$407M—53.6%
- Commercial Solutions$352M—46.4%
Forward guidance
Veeva provided guidance for its fiscal second quarter ending July 31, 2023 and updated guidance for its fiscal year ending January 31, 2024, while reiterating guidance for its fiscal year ending January 31, 2025.
Tailwinds
- Total revenues between $580 and $582 million for Q2 2024.
- Non-GAAP operating income between $199 and $201 million for Q2 2024.
- Non-GAAP fully diluted net income per share between $1.12 and $1.13 for Q2 2024.
- Total revenues between $2,360 and $2,370 million for fiscal year 2024.
- Non-GAAP operating income of about $810 million for fiscal year 2024.
Headwinds
- Veeva is not able to provide GAAP targets for operating income and fully diluted net income per share due to the difficulty of estimating certain items excluded from non-GAAP measures.
- Estimating guidance accurately for future periods is difficult and involves assumptions and internal estimates that may prove to be incorrect.
- There is a significant risk that actual results could differ materially from the guidance provided.
- Numerous risks have the potential to negatively impact financial performance, including issues related to product security, competitive factors, and macroeconomic events.
- Customer contracting change resulted in a change in the timing of revenue for certain customer contracts
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+1.3%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.7%
Avg return
30 days after
55%
31 / 56 earnings
Positive
+21.2%
Q1 2024
Best reaction
-17.0%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | -0.3% | -6.4% | — | |
| Q4 2026 | +4.0% | +0.6% | -7.7% | |
| Q3 2026 | -12.9% | -11.0% | -18.0% | |
| Q2 2026 | -7.5% | -8.0% | -1.1% | |
| Q1 2026 | +1.6% | +0.3% | +1.2% | |
| Q4 2025 | +7.4% | +5.3% | -2.8% | |
| Q3 2025 | +5.3% | +3.6% | -10.4% | |
| Q2 2025 | +8.4% | +8.1% | +5.3% | |
| Q1 2025 | -13.1% | -10.8% | -8.7% | |
| Q4 2024 | -1.5% | -1.7% | +2.8% | |
| Q3 2024 | -2.8% | -2.0% | +4.3% | |
| Q2 2024 | +8.1% | +12.2% | +5.4% | |
| Q1 2024 | +21.2% | +18.2% | +20.8% | |
| Q4 2023 | +4.8% | +6.5% | +10.9% | |
| Q3 2023 | -8.1% | -11.5% | -15.2% | |
| Q2 2023 | -15.2% | -15.9% | -18.4% | |
| Q1 2023 | +13.1% | +11.0% | +19.9% | |
| Q4 2022 | -16.8% | -21.8% | -6.6% | |
| Q3 2022 | -7.1% | -7.2% | -9.6% | |
| Q2 2022 | -4.8% | -4.3% | -13.5% | |
| Q1 2022 | +8.9% | +6.7% | +16.8% | |
| Q4 2021 | -10.3% | -13.3% | -8.8% | |
| Q3 2021 | -1.6% | -1.9% | -1.7% | |
| Q2 2021 | +2.0% | +9.5% | +2.0% | |
| Q1 2021 | +14.0% | +14.4% | +22.4% | |
| Q4 2020 | +0.0% | +1.5% | +8.4% | |
| Q3 2020 | -2.3% | -5.0% | -9.6% | |
| Q2 2020 | +0.9% | -1.4% | -4.9% | |
| Q1 2020 | +10.6% | +6.9% | +16.2% | |
| Q4 2019 | -3.0% | +0.4% | +3.6% | |
| Q3 2019 | +9.9% | +10.1% | -2.5% | |
| Q2 2019 | +13.1% | +15.4% | +16.8% | |
| Q1 2019 | +0.4% | -1.2% | +7.9% | |
| Q4 2018 | +12.2% | +18.8% | +17.6% | |
| Q3 2018 | -5.7% | -2.1% | -0.6% | |
| Q2 2018 | -13.3% | -11.3% | -13.5% | |
| Q1 2018 | +9.4% | +6.3% | +4.5% | |
| Q4 2017 | +1.7% | +0.1% | +15.2% | |
| Q3 2017 | +10.8% | +10.8% | -0.6% | |
| Q2 2017 | +5.8% | +5.4% | +7.1% | |
| Q1 2017 | +7.7% | +10.2% | +14.8% | |
| Q4 2016 | +6.1% | — | — | |
| Q3 2016 | +5.5% | — | — | |
| Q2 2016 | +12.5% | — | — | |
| Q1 2016 | -2.4% | — | — | |
| Q4 2015 | -17.0% | — | — | |
| Q3 2015 | +12.8% | — | — | |
| Q2 2014 | +2.8% | — | — | |
| Q2 2015 | +18.9% | — | — | |
| Q1 2014 | +3.6% | — | — | |
| Q1 2015 | -4.2% | — | — | |
| Q4 2012 | -0.8% | — | — | |
| Q4 2014 | -3.4% | — | — | |
| Q4 2013 | -8.9% | — | — | |
| Q3 2013 | -8.9% | — | — | |
| Q3 2014 | -0.2% | — | — |
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