Q3'26 Quarterly Results November 20, 2025 This presentation and associated commentary contain forward-looking statements regarding Veeva's expected future performance and, in particular, includes guidance, provided as of November 20, 2025, about Veeva's expected future financial results. Estimating guidance accurately for future periods is difficult. It involves assumptions and internal estimates that may prove to be incorrect and is based on plans that may change. Hence, there is a significant risk that ac ...

Financial Performance & Growth (FY2025 & FY2026 Guidance) - Total revenue for FY2025 reached $2.747 billion, with a year-over-year growth of 16%[8] - The company projects total revenue for FY2026 to be between $3.134 billion and $3.140 billion, indicating an anticipated growth of approximately 14%[8, 28] - Subscription revenue for FY2026 is guided at approximately $2.657 billion[28] - Non-GAAP operating income for FY2026 is projected to be around $1.388 billion, with a margin of approximately 44%[14, 28] - Normalized billings for FY2026 are expected to be approximately $3.355 billion, representing a year-over-year growth of about 13%[20, 28] - Non-GAAP cash from operations for FY2026 is guided at approximately $1.330 billion[24, 28] Q2'26 Results & Q3'26 Guidance - Total revenue for Q2'26 was $789.1 million, a 17% increase year-over-year[37] - Subscription revenue for Q2'26 was $659.2 million, reflecting a 17% year-over-year growth[37] - The company anticipates total revenue for Q3'26 to be between $790 million and $793 million[31] - Subscription revenue for Q3'26 is projected to be approximately $671 million[31] - Non-GAAP operating income for Q3'26 is expected to be between $348 million and $350 million[31] Additional Considerations - The company standardized termination for convenience (TFC) rights in customer contracts, which had a one-time impact on revenue and operating income in FY2024, but no impact after FY2025[48, 51]