Veeva Announces Fiscal 2025 Third Quarter Results

Core Insights - Veeva Systems reported total revenues of $699.2 million for the third quarter of fiscal 2025, representing a 13% increase year over year [3][4] - Subscription services revenues reached $580.9 million, marking a 17% year-over-year growth [3][4] - The company achieved a net income of $185.8 million, a 37% increase compared to the same quarter last year [5][6] Financial Performance - Operating income for the third quarter was $181.4 million, up 41% from $128.5 million a year ago [4] - Non-GAAP operating income was $304.0 million, reflecting a 30% increase from $234.6 million in the prior year [4] - Fully diluted net income per share was $1.13, compared to $0.83 in the same quarter last year [6] Strategic Developments - The company is set to launch the next generation of its CRM, the Vault CRM Suite, which aims to integrate sales, marketing, and medical functions [3][7] - Veeva announced new AI capabilities, including a GenAI assistant and voice control features, expected to be available in late 2025 [8] - The company added over 25 new customers to its Vault Quality Suite, bringing the total to more than 600 customers [9] Guidance and Outlook - For the fiscal fourth quarter ending January 31, 2025, Veeva expects total revenues between $696 million and $699 million [10] - The company anticipates a non-GAAP operating income of approximately $275 million for the same period [11] - For the fiscal year ending January 31, 2025, total revenues are projected to be between $2,722 million and $2,725 million [13]