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Veeva Announces Fiscal 2025 Third Quarter Results
VEEVVeeva(VEEV) Prnewswire·2024-12-05 21:05

Core Insights - Veeva Systems reported total revenues of 699.2millionforthethirdquarteroffiscal2025,representinga13699.2 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 185.8million,a37185.8 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 128.5millionayearago[4]−Non−GAAPoperatingincomewas128.5 million a year ago [4] - Non-GAAP operating income was 304.0 million, reflecting a 30% increase from 234.6millionintheprioryear[4]−Fullydilutednetincomepersharewas234.6 million in the prior year [4] - Fully diluted net income per share was 1.13, compared to 0.83inthesamequarterlastyear[6]StrategicDevelopments−ThecompanyissettolaunchthenextgenerationofitsCRM,theVaultCRMSuite,whichaimstointegratesales,marketing,andmedicalfunctions[3][7]−VeevaannouncednewAIcapabilities,includingaGenAIassistantandvoicecontrolfeatures,expectedtobeavailableinlate2025[8]−Thecompanyaddedover25newcustomerstoitsVaultQualitySuite,bringingthetotaltomorethan600customers[9]GuidanceandOutlook−ForthefiscalfourthquarterendingJanuary31,2025,Veevaexpectstotalrevenuesbetween0.83 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 699million[10]−Thecompanyanticipatesanon−GAAPoperatingincomeofapproximately699 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 2,722millionand2,722 million and 2,725 million [13]