Veeva(US:VEEV)2025-03-05 21:05Revenue Performance - Total revenues for fiscal year 2025 were $2,746.6 million, up 16% year over year from $2,363.7 million[6] - Q4 total revenues reached $720.9 million, reflecting a 14% increase from $630.6 million in the same quarter last year[3] - Subscription services revenues for fiscal year 2025 were $2,284.7 million, an increase of 20% year over year[6] - Q4 subscription services revenues were $608.6 million, up 17% from $521.5 million year over year[3] - Total revenues for the three months ended January 31, 2025, were $720.886 million, a 14.3% increase from $630.618 million in the same period of 2024[17] - Subscription services revenue reached $608.577 million, up 16.7% from $521.498 million year-over-year[17] Income and Profitability - Fiscal year 2025 operating income was $691.4 million, a 61% increase from $429.3 million in the previous year[6] - Non-GAAP net income for fiscal year 2025 was $1,090.4 million, up 38% from $791.0 million year over year[6] - Net income for the fiscal year ended January 31, 2025, was $714.138 million, representing a 35.8% increase compared to $525.705 million in 2024[20] - Operating income for the three months ended January 31, 2025, was $188.423 million, a 39.2% increase from $135.264 million in the same period of 2024[17] - Diluted net income per share of $4.32 for the fiscal year ended January 31, 2025, compared to $3.22 in 2024, marking a 34.3% increase[17] - Net income on a non-GAAP basis for the fiscal year ended January 31, 2025, was $1,090,428, a 37.9% increase from $790,960 in the fiscal year 2024[30] Expenses and Cash Flow - Total operating expenses for the fiscal year ended January 31, 2025, were $1.355548 billion, up from $1.257048 billion in 2024, indicating an increase of 7.8%[17] - Research and development expenses increased to $181.527 million for the three months ended January 31, 2025, compared to $163.565 million in the same period of 2024, reflecting a 10.9% rise[17] - Cash flows from operating activities for the fiscal year ended January 31, 2025, were $1.090051 billion, an increase from $911.339 million in 2024[20] - Stock-based compensation expenses totaled $437.350 million for the fiscal year ended January 31, 2025, compared to $393.733 million in 2024, reflecting an increase of 11.1%[20] - Net cash provided by operating activities on a GAAP basis for the three months ended January 31, 2025, was $69,544, compared to $57,769 for the same period in 2024, representing a 20.8% increase[27] Margins and Ratios - Gross margin on subscription services revenues on a non-GAAP basis improved to 86.7% for the three months ended January 31, 2025, up from 85.7% in the same period of 2024[27] - Total revenues gross margin on a non-GAAP basis was 77.1% for the three months ended January 31, 2025, compared to 75.0% in the same period of 2024[30] - Operating margin on a non-GAAP basis improved to 42.7% for the three months ended January 31, 2025, up from 37.9% in the same period of 2024[30] Customer and Product Development - The company finished the year with a total of 1,477 customers, including 1,125 in Veeva R&D Solutions and 730 in Veeva Commercial Solutions[6] - Veeva's Vault CRM Suite was expanded with the release of Campaign Manager, and over 50 customers are now live on Vault CRM[6] Guidance - Guidance for Q1 fiscal 2026 projects total revenues between $726 and $729 million[8] - Guidance for fiscal year 2026 anticipates total revenues between $3,040 and $3,055 million[8] Investment Activities - The company reported a net cash used in investing activities on a GAAP basis of $(15,692) for the three months ended January 31, 2025, compared to $(86,703) in the same period of 2024, showing a significant reduction in cash outflow[27]