Financial Performance - Total revenues for the three months ended October 31, 2025, were $811,236,000, representing a 16% increase from $699,207,000 in the same period of 2024[18] - Subscription services revenue reached $682,498,000 for the three months ended October 31, 2025, up 17.5% from $580,850,000 year-over-year[18] - Net income for the three months ended October 31, 2025, was $236,203,000, a 27% increase compared to $185,808,000 in the prior year[18] - Operating income for the nine months ended October 31, 2025, was $670,493,000, up 33% from $503,012,000 in the same period of 2024[18] - For the three months ended October 31, 2025, net income was $236,203,000, an increase from $185,808,000 for the same period in 2024, representing a growth of 27.1%[21] - For the nine months ended October 31, 2025, net income reached $664,702,000, compared to $518,513,000 in 2024, marking a 28.2% increase[24] - Cash provided by operating activities for the nine months ended October 31, 2025, was $1,308,378,000, up from $1,020,507,000 in 2024, reflecting a growth of 28.2%[24] - Total revenues for the nine months ended October 31, 2025, increased by $334 million, with $300 million attributed to growth in subscription services revenue[105] Assets and Equity - Total assets increased to $8,097,151,000 as of October 31, 2025, compared to $7,339,756,000 as of January 31, 2025[15] - Cash and cash equivalents rose to $1,660,137,000 as of October 31, 2025, from $1,118,785,000 as of January 31, 2025[15] - Total stockholders' equity increased to $7,040,631,000 as of October 31, 2025, compared to $5,832,373,000 as of January 31, 2025[15] - The fair value of total financial assets as of October 31, 2025, was $5,490,139, with cash equivalents of $505,249[43] Expenses - Research and development expenses for the three months ended October 31, 2025, were $191,883,000, a 11% increase from $172,411,000 in the same period of 2024[18] - Stock-based compensation expense for the nine months ended October 31, 2025, was $354,444,000, compared to $322,146,000 in 2024, an increase of 10.0%[24] - Sales and marketing expenses for the three months ended October 31, 2025 increased to $110,552 thousand, a 12% increase from $98,695 thousand in 2024, maintaining 14% of total revenues[118] - General and administrative expenses for the three months ended October 31, 2025 decreased by 5% to $68,483 thousand from $72,359 thousand in 2024[121] Revenue Sources - R&D Solutions accounted for approximately 53% of total revenues for the nine months ended October 31, 2025, indicating a growing trend in this segment[80] - The geographic mix of subscription services revenues for the three months ended October 31, 2025, was 60% from North America, 28% from Europe, and 12% from other locations[103] - The increase in subscription services revenue for the nine months ended October 31, 2025, included $181 million from R&D Solutions and $119 million from Commercial Solutions[106] Customer and Market Dynamics - The company served 1,477 customers as of January 31, 2025, an increase from 1,432 customers in 2024, with 730 customers using Commercial Solutions and 1,125 using R&D Solutions[82] - Approximately 41% of total revenues in fiscal year 2025 came from customers outside North America, highlighting the company's international exposure[184] - The top 10 customers accounted for 28% of total revenues in fiscal years 2025 and 2024, and 29% in 2023, indicating revenue concentration risks[181] Regulatory and Compliance Risks - The company faces significant competition in the life sciences industry, particularly from Salesforce and IQVIA, which could adversely affect business and operating results[172] - Nearly all revenues are generated from the life sciences industry, making the company vulnerable to adverse factors affecting this sector, such as regulatory changes and government funding[166] - Regulatory changes, including drug pricing reforms from the Inflation Reduction Act, could negatively impact revenues and demand for the company's products[205] - The company is subject to significant data protection obligations under the EU GDPR and UK GDPR, with potential penalties for non-compliance[213] Future Outlook - The company expects revenues from R&D Solutions to increase as a percentage of both subscription services revenues and total revenues in the future[80] - The company anticipates operating expenses to rise in the future, primarily driven by employee compensation-related costs[113] - The company expects cash flows from operating activities to increase in the fiscal year ending January 31, 2026, due to the OBBBA, which restored the option to deduct certain domestic R&D expenditures[141][142]

Core Insights - Major U.S. equities indexes experienced gains, driven by comments from a Federal Reserve official suggesting a potential interest rate cut in December [1] Company Performance - Ross Stores (ROST) emerged as the best-performing stock in the S&P 500, with shares increasing by 7% after surpassing earnings and revenue estimates, and raising its outlook due to strong customer demand [2] - Gap Inc. saw its shares rise by 8% following better-than-expected results and an optimistic guidance, attributed to robust demand across its brands [2] - Intuit (INTU) reported a 6% surge in shares, benefiting from strong quarterly results and increased demand for its artificial intelligence tools [3] - Veeva Systems (VEEV) experienced a decline of over 10% as it warned of reduced usage of its Vault CRM system by biopharmaceutical firms [4] Market Trends - Oil futures declined while gold prices increased, indicating a shift in commodity markets [4] - The yield on the 10-year Treasury note decreased to 4.08%, reflecting changes in investor sentiment [4] - The U.S. dollar showed mixed performance against major currencies, gaining against the euro but losing ground to the pound and yen [4]

Company Overview - Veeva Systems Inc. is a significant player in the cloud-based software industry, primarily serving the life sciences sector with solutions that enhance operational efficiency [1] - Competitors include Oracle and Salesforce, which also provide cloud-based solutions across various industries [1] Financial Performance - Barclays set a price target of $305 for Veeva, indicating a potential price increase of approximately 12.75% from the current price of $270.50 [2][6] - The Q3 2026 earnings call featured key executives and attracted analysts from major financial institutions, reflecting strong interest in Veeva's financial performance and outlook [3][6] - The stock price has decreased by 0.92% or $2.50, currently at $270.50 [3] Market Dynamics - Veeva's stock has shown volatility, with a daily trading range between $269.30 and $277.61 [4] - Over the past year, the stock reached a high of $310.50 and a low of $201.54, indicating dynamic market conditions [4][6] - The company's market capitalization is approximately $44.34 billion, underscoring its substantial presence in the industry [4] Trading Activity - Today's trading volume for Veeva is 1,706,950 shares, suggesting active investor interest influenced by the company's performance and strategic direction discussed in the earnings call [5]

Core Insights - Veeva Systems, Inc. reported adjusted earnings per share (EPS) of $2.04 for Q3 fiscal 2026, a 16.6% increase from $1.75 year-over-year, surpassing the Zacks Consensus Estimate by 4.62% [1] - Total revenues for the quarter reached $811.2 million, exceeding the Zacks Consensus Estimate by 2.4% and reflecting a 16% year-over-year growth [2] Revenue Details - Subscription services revenues rose 17.5% year-over-year to $682.5 million, driven by both established and new solutions, compared to an estimate of $671 million [3] - Professional services and other revenues increased 13% year-over-year to $128.7 million, surpassing the estimate of $120.1 million [4] Margin Performance - Gross profit improved 16.6% year-over-year to $611.8 million, with a gross margin expansion of 30 basis points to 75.4%, slightly above the predicted 75.3% [5] - Operating profit totaled $240.9 million, a 32.8% increase from the prior year, with an operating margin expansion of 380 basis points to 29.7%, exceeding the predicted 26.7% [7] Financial Position - At the end of Q3 fiscal 2026, the company had cash and cash equivalents and short-term investments of $6.64 billion, up from $6.40 billion at the end of Q2 [8] - Cumulative net cash provided by operating activities was $1.31 billion, compared to $1.02 billion a year ago [8] Guidance - For Q4 fiscal 2026, Veeva expects total revenues between $807 million and $810 million, with subscription revenues estimated at approximately $696 million [11] - The company raised its fiscal 2026 revenue outlook to between $3,166 million and $3,169 million, up from previous guidance of $3,134 million to $3,140 million [12] - Adjusted EPS for fiscal 2026 is now expected to be $7.93, an increase from the previous guidance of $7.78 [14] Strategic Developments - Veeva AI achieved significant milestones during Q3, with plans to release AI agents for CRM and commercial content in early December, and additional agents for R&D and quality in development for 2026 [16][18] - The company strengthened its leadership in CRM, adding 23 new customers, including a major rollout for a top-20 biopharma company in Japan [19] - Veeva Development Cloud saw three top-20 biopharma companies select its applications as their enterprise standard, indicating rising industry confidence [20]

Group 1: Elastic NV Performance - Elastic NV reported second-quarter adjusted earnings of 64 cents per share, exceeding the analyst estimate of 58 cents [1] - The company's quarterly revenue was $423.48 million, surpassing the Street estimate of $418.16 million [1] - Despite the positive earnings and revenue results, Elastic shares fell 12.3% to $72.02 in pre-market trading [1] Group 2: Other Stocks in Pre-Market Trading - Luda Technology Group Ltd experienced an 11.1% decline to $8.55 after a 39% gain on Thursday [4] - AnaptysBio Inc fell 9.7% to $34.00 following the announcement of a $100 million stock repurchase plan [4] - Sigma Lithium Corp decreased by 8.4% to $8.61 after a 9% decline on Thursday [4] - Veeva Systems Inc saw a 6.7% drop to $252.40 despite posting upbeat third-quarter results and raising fiscal year earnings and revenue estimates [4] - American Bitcoin Corp declined 6.3% to $4.29 in pre-market trading [4] - Standard Lithium Ltd fell 6.3% to $3.60 [4] - Indivior PLC declined 5.9% to $29.90 after settling a matter with the U.S. Department of Justice for $295 million [4] - HIVE Digital Technologies Ltd dropped 5.8% to $2.75 after filing for mixed shelf [4] - Albemarle Corp fell 5.5% to $109.99 [4] - Oncology Institute Inc decreased by 2.1% to $3.17 [4]

Core Insights - The software company has raised its fiscal-year guidance, indicating positive growth expectations despite challenges in the earnings call commentary [1] Group 1: Fiscal-Year Guidance - The company has increased its fiscal-year guidance, suggesting a strong outlook for revenue and profitability [1] - This adjustment reflects confidence in the company's operational performance and market conditions [1] Group 2: Earnings Call Commentary - The commentary from the earnings call has overshadowed the positive guidance, indicating potential concerns or issues raised during the discussion [1] - Analysts and investors may focus on the earnings call details, which could impact market perception despite the improved guidance [1]

Market Overview - U.S. stock futures showed volatility with mixed performance after a significant sell-off on Thursday, with the S&P 500 index dropping below key support levels [1][2] - The S&P 500 index fell below its 50-day moving average for the first time in months, indicating potential bearish sentiment [1] Economic Indicators - September's job report revealed non-farm payrolls increased by 119,000, significantly exceeding the forecast of 50,000, which dampened expectations for interest rate cuts [2] - The 10-year Treasury bond yield was at 4.08%, while the two-year bond yield stood at 3.53%, reflecting market sentiment on interest rates [2] Futures Performance - Dow Jones futures increased by 0.28%, while S&P 500 and Nasdaq 100 futures decreased by 0.14% and 0.47%, respectively [3] - The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ) both experienced declines in premarket trading, with SPY down 0.35% and QQQ down 0.77% [3] Company Highlights - New Fortress Energy Inc. surged by 19.86% due to successful debt restructuring efforts [5] - Gap Inc. advanced by 3.86% after reporting strong third-quarter results and raising its FY25 sales guidance [5] - Veeva Systems Inc. saw a decline of 6.69% despite positive third-quarter results and raised fiscal year estimates [4][5] - Elastic NV dropped by 12.21% despite a solid earnings beat and strong guidance for the current quarter [5] - Intuit Inc. rose by 3.23% after reporting better-than-expected first-quarter results, although it expects second-quarter adjusted earnings to be below estimates [14] Analyst Insights - Scott Wren from Wells Fargo Investment Institute maintains a bullish outlook for the equity market through 2026, forecasting an accelerating economy driven by deregulation and expected Federal Reserve rate cuts [10][11] - Wren suggests reallocating investments from fully valued technology sectors into Financials and Industrials, which are expected to benefit from AI infrastructure growth [12]

Market Overview - U.S. stock futures showed volatility with mixed performance after a significant sell-off on Thursday, with the S&P 500 index dropping below the support line of 6,550 and its 50-day moving average for the first time in months [1][2] - The September job report revealed non-farm payrolls increased by 119,000, exceeding economists' expectations of 50,000, impacting market expectations for interest rate cuts [2] Futures Performance - Dow Jones futures increased by 0.28%, while S&P 500 and Nasdaq 100 futures decreased by 0.14% and 0.47%, respectively [3] - The SPDR S&P 500 ETF Trust (SPY) fell by 0.35% to $650.25, and the Invesco QQQ Trust ETF (QQQ) declined by 0.77% to $581.15 in premarket trading [3] Stocks in Focus - New Fortress Energy Inc. surged by 19.86% due to debt restructuring efforts, while Gap Inc. rose by 3.86% after positive third-quarter results and an increase in FY25 sales guidance [4][5] - Veeva Systems Inc. dropped by 6.69% despite strong quarterly results and raised fiscal year estimates, while Elastic NV fell by 12.21% despite a solid earnings beat and strong guidance [4][5] Analyst Insights - Scott Wren from Wells Fargo Investment Institute maintains a bullish outlook for the equity market through 2026, forecasting an accelerating economy driven by deregulation and expected Federal Reserve rate cuts [10][11] - Wren advises reallocating investments from fully valued technology sectors into Financials and Industrials, which are expected to benefit from AI infrastructure growth [12] Upcoming Economic Data - Investors are anticipating key economic data releases, including November's S&P flash U.S. services and manufacturing PMI and final consumer sentiment data [15]

Core Insights - Veeva Systems reported a revenue of $811.24 million for the quarter ended October 2025, reflecting a 16% increase year-over-year and surpassing the Zacks Consensus Estimate of $791.88 million by 2.44% [1] - The company's EPS for the quarter was $2.04, up from $1.75 in the same quarter last year, exceeding the consensus EPS estimate of $1.95 by 4.62% [1] Revenue Breakdown - Subscription services revenue reached $682.5 million, exceeding the average estimate of $671.02 million, with a year-over-year growth of 17.5% [4] - Professional services and other revenue totaled $128.74 million, surpassing the average estimate of $120.86 million, marking an 8.8% increase year-over-year [4] - Veeva R&D Solutions generated $81.28 million in revenue, exceeding the average estimate of $74.66 million, representing a 12.1% year-over-year increase [4] - Subscription services from Veeva R&D Solutions amounted to $364.85 million, above the average estimate of $361.28 million, with a year-over-year growth of 20.6% [4] - Veeva Commercial Solutions' subscription services revenue was $317.65 million, exceeding the average estimate of $309.72 million, reflecting a 14.1% increase year-over-year [4] - Professional services and other revenue from Veeva Commercial Solutions reached $47.46 million, surpassing the average estimate of $46.26 million, with a year-over-year change of 3.5% [4] Margin Analysis - Non-GAAP Gross Margin for Professional services and other was reported at 29.8%, below the average estimate of 31.8% [4] - Non-GAAP Gross Margin for Subscription services was 86.6%, slightly above the average estimate of 85.9% [4] Stock Performance - Veeva's shares have returned -5.8% over the past month, compared to a -0.3% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Core Insights - Veeva Systems reported quarterly earnings of $2.04 per share, exceeding the Zacks Consensus Estimate of $1.95 per share, and up from $1.75 per share a year ago [1][2] - The company achieved revenues of $811.24 million for the quarter, surpassing the Zacks Consensus Estimate by 2.44% and increasing from $699.21 million year-over-year [3] - Veeva has consistently outperformed consensus EPS and revenue estimates over the last four quarters [2][3] Earnings Performance - The earnings surprise for the recent quarter was +4.62%, following a previous surprise of +4.74% [2] - The current consensus EPS estimate for the upcoming quarter is $1.87, with expected revenues of $798.22 million, while the estimate for the current fiscal year is $7.78 on $3.14 billion in revenues [8] Stock Performance - Veeva shares have increased approximately 29.8% since the beginning of the year, compared to a 12.9% gain for the S&P 500 [4] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [7] Industry Outlook - The Medical Info Systems industry, to which Veeva belongs, is currently ranked in the top 29% of over 250 Zacks industries, suggesting a favorable outlook [9] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [6]