Veeva Systems Inc.
Veeva Systems Reports Fourth Quarter and Fiscal Year 2024 Results
Summary
Veeva Systems Inc. announced its financial results for the fourth quarter and fiscal year ended January 31, 2024. Total revenues increased by 10% year-over-year to $2.36 billion, and subscription services revenues grew by 10% to $1.90 billion. The company reported non-GAAP operating income of $843 million and non-GAAP net income of $791 million for the fiscal year. Veeva also provided guidance for the first quarter and fiscal year 2025, expecting total revenues between $2.73 billion and $2.74 billion and non-GAAP net income per share between $6.10 and $6.20.
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About Veeva Systems Inc.
Veeva Systems Inc. is a cloud-based software solutions provider focusing specifically on the life sciences industry. Its primary function is to develop and deliver specialized software tailored for companies in the pharmaceutical, biotechnology, and medical device sectors. Veeva's product suite includes applications for customer relationship management, content management, collaboration, and data analytics, facilitating enhanced operational efficiency and regulatory compliance. The company’s offerings are designed to optimize the critical aspects of a life sciences company's operations, such as clinical data management, regulatory submissions, and commercial activities. Veeva Systems plays a significant role in the growing digital transformation of the health-related industries, bridging the gap between advanced technological solutions and industry-specific requirements. Founded in 2007 and headquartered in Pleasanton, California, Veeva has established itself as a leader in its niche market, empowering its clients with innovative tools that streamline R&D processes and enhance their go-to-market capabilities.
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