Veeva(US:VEEV)2025-05-28 20:04Revenue Performance - Total revenues for Q1 FY2026 were $759.0 million, representing a 17% increase year over year from $650.3 million[4] - Subscription services revenues for Q1 FY2026 were $634.8 million, up 19% year over year from $534.0 million[4] - Total revenues for the three months ended April 30, 2025, increased to $759,043, up 16.7% from $650,345 in the same period of 2024[17] - Subscription services revenues rose to $634,768, representing a 18.9% increase from $533,955 year-over-year[17] - Full-year FY2026 revenue guidance is projected between $3,090 million and $3,100 million[8] Income and Profitability - Operating income for Q1 FY2026 was $233.7 million, a 51% increase from $155.2 million in the same quarter last year[4] - Non-GAAP operating income for Q1 FY2026 was $349.9 million, up 34% year over year from $260.9 million[4] - Net income for Q1 FY2026 was $228.2 million, an increase of 41% compared to $161.7 million in Q1 FY2025[4] - Non-GAAP net income for Q1 FY2026 was $327.8 million, reflecting a 33% increase from $247.0 million year over year[4] - Operating income improved to $233,732, up 50.6% from $155,172 in the same quarter of 2024[17] - Net income for the quarter was $228,190, a 41.1% increase compared to $161,664 in the prior year[17] - The diluted net income per share on a GAAP basis rose to $1.37, up from $0.98 in the prior year, marking a 39.8% increase[29] Cash Flow and Financial Position - Cash flows from operating activities reached $877,158, an increase of 14.9% from $763,516 in the previous year[20] - Cash, cash equivalents, and restricted cash at the end of the period totaled $1,967,160, up from $1,200,379 a year earlier[20] Expenses - Research and development expenses increased to $184,033, up 13.1% from $162,711 year-over-year[17] - Stock-based compensation expenses totaled $112,210, an increase from $95,911 in the same period of 2024[17] - Sales and marketing expenses on a GAAP basis were $98.6 million, slightly up from $97.3 million in Q1 2024[29] - General and administrative expenses on a GAAP basis increased to $68.8 million from $61.3 million in the same quarter last year[29] - Stock-based compensation expense for the quarter was $112.2 million, compared to $95.9 million in the prior year[29] Margins - The gross margin on total revenues improved to 77.1%, compared to 73.3% in the same quarter of 2024[26] - The operating margin on a GAAP basis improved to 30.8% from 23.9% year-over-year, while the non-GAAP operating margin increased to 46.1% from 40.1%[29] Strategic Initiatives - Veeva achieved its 2025 revenue run rate goal of $3 billion in the quarter, marking a significant milestone[6] - Veeva AI initiative is set to launch in December 2025, aiming to enhance productivity and automation in the life sciences industry[6] Guidance - Guidance for Q2 FY2026 includes total revenues expected between $766 million and $769 million[8]