PLEASANTON, Calif. - Veeva Systems Inc. (NYSE:VEEV), a prominent cloud solutions provider for the life sciences industry, has reported a robust fourth quarter, surpassing analyst estimates for both earnings and revenue.
The company announced an adjusted EPS of $1.38, which was $0.08 higher than the analyst consensus of $1.30. Revenue for the quarter reached $630.62 million, exceeding the consensus estimate of $621.09 million and marking a 12% increase YoY.
Veeva's subscription services revenue saw a significant uptick, climbing to $521.5 million, a 13% rise YoY. The company's CEO, Peter Gassner, attributed the strong quarter to strategic initiatives, including the launch of the Veeva Compass Suite and advancements in their Clinical and Commercial Cloud offerings.
These developments, according to Gassner, are expected to fuel growth and impact the industry for years ahead.
Looking ahead, Veeva provided guidance for the first quarter of fiscal year 2025, forecasting an adjusted EPS range of $1.42 to $1.43, which is notably above the analyst consensus of $1.28. Yet, the revenue guidance of $640 to $643 million falls slightly short of the expected $647 million.
For the full fiscal year ending January 31, 2025, Veeva anticipates total revenues to be between $2,725 and $2,740 million, with the midpoint below the consensus of $2,749 million. The projected non-GAAP fully diluted net income per share stands at approximately $6.16, surpassing the consensus of $5.57.
Despite the strong results and optimistic EPS guidance, Veeva's stock saw a modest uptick of +0.77%, indicating a positive but restrained investor reaction to the earnings and revenue beat. CFO Brent Bowman expressed confidence in the company's financial performance, citing their innovation engine and customer success focus as key differentiators driving profitable growth.
Veeva's financial outlook and strategic advancements position the company as a key player in the life sciences cloud solutions space, with a clear trajectory for continued growth and industry leadership.
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