On August 28, 2024, Veeva Systems Inc., a leading cloud software provider for the life sciences industry, reported its financial results for the second quarter ended July 31, 2024. The company announced a 15% year-over-year increase in total revenues, reaching $676.2 million, with subscription services revenues growing by 19% to $561.3 million. Operating income saw a significant rise of 60% compared to the previous year, amounting to $166.5 million. Net income also increased by 53% year-over-year to $171.0 million. Veeva's CEO, Peter Gassner, attributed the strong performance to major product advances and strategic customer wins. Interim CFO Tim Cabral highlighted the company's profitable growth strategy and its potential through 2030. Veeva also provided guidance for the third quarter with total revenues expected between $682 and $685 million and non...Show More

On August 28, 2024, Veeva Systems Inc., a leading cloud software provider for the life sciences industry, reported its financial results for the second quarter ended July 31, 2024. The company announced a 15% year-over-year increase in total revenues, reaching $676.2 million, with subscription services revenues growing by 19% to $561.3 million. Operating income saw a significant rise of 60% compared to the previous year, amounting to $166.5 million. Net income also increased by 53% year-over-year to $171.0 million. Veeva's CEO, Peter Gassner, attributed the strong performance to major product advances and strategic customer wins. Interim CFO Tim Cabral highlighted the company's profitable growth strategy and its potential through 2030. Veeva also provided guidance for the third quarter with total revenues expected between $682 and $685 million and non-GAAP operating income projected between $273 and $275 million. For the fiscal year ending January 31, 2025, the company anticipates total revenues between $2,704 and $2,710 million, with non-GAAP operating income around $1,080 million and non-GAAP fully diluted net income per share approximately $6.22. The company's stock is traded on the New York Stock Exchange under the symbol VEEV.