NYSE: VEEV
VEEVA SYSTEMS INCCIK 0001393052 · SIC 7372 · Prepackaged Software
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Veeva Q2 FY27: Net income +36.5% to $273.4M on 17.6% revenue growth; $472.7M buyback
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revenue $882.9M, net income $260.9M. Veeva sustains 16% revenue growth, launches up to buyback; CRM migration accelerated to 2029
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Veeva Systems reports Q1 fiscal 2027 earnings results
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Veeva Systems General Counsel Josh Faddis to retire November 1, transitioning to advisor
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revenue $3.20B, net income $908.9M. Veeva grows 16%, launches AI Agents across platform, authorizes up to buyback
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Latest financial statements
From 10-Q filed Aug 27, 2026 (period ending Jul 31, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
(In thousands, except per share data)
| Description | Three months ended July 31, 2026 | Three months ended July 31, 2025 | Six months ended July 31, 2026 | Six months ended July 31, 2025 |
|---|---|---|---|---|
| Revenues: | ||||
| Subscription | 766,764 | 659,183 | 1,496,939 | 1,293,951 |
| Professional services and other | 161,199 | 129,898 | 313,972 | 254,173 |
| Total revenues | 927,963 | 789,081 | 1,810,911 | 1,548,124 |
| Cost of revenues (1): | ||||
| Cost of subscription | 105,677 | 93,830 | 204,780 | 172,176 |
| Cost of professional services and other | 126,335 | 101,423 | 248,156 | 196,901 |
| Total cost of revenues | 232,012 | 195,253 | 452,936 | 369,077 |
| Gross profit | 695,951 | 593,828 | 1,357,975 | 1,179,047 |
| Operating expenses (1): | ||||
| Research and development | 222,918 | 192,677 | 431,241 | 376,710 |
| Sales and marketing | 126,701 | 109,439 | 237,818 | 208,067 |
| General and administrative | 71,314 | 95,804 | 140,786 | 164,630 |
| Total operating expenses | 420,933 | 397,920 | 809,845 | 749,407 |
| Operating income | 275,018 | 195,908 | 548,130 | 429,640 |
| Other income, net | 74,512 | 69,456 | 148,930 | 134,545 |
| Income before income taxes | 349,530 | 265,364 | 697,060 | 564,185 |
| Income tax provision | 76,101 | 65,055 | 162,695 | 135,686 |
| Net income | 273,429 | 200,309 | 534,365 | 428,499 |
| Net income per share: | ||||
| Basic | 1.68 | 1.23 | 3.28 | 2.63 |
| Diluted | 1.66 | 1.19 | 3.22 | 2.56 |
| Weighted-average shares used to compute net income per share: | ||||
| Basic | 162,344 | 163,496 | 162,836 | 163,129 |
| Diluted | 165,057 | 167,685 | 166,072 | 167,272 |
| Other comprehensive income: | ||||
| Net change in unrealized (loss) gain on available-for-sale investments | (26,490) | (11,300) | (53,941) | 6,067 |
| Net change in cumulative foreign currency translation gain (loss) | 135 | 390 | (366) | 352 |
| Comprehensive income | 247,074 | 189,399 | 480,058 | 434,918 |
Condensed Consolidated Balance Sheets (Unaudited)
(In thousands, except number of shares and par value)
| Description | July 31, 2026 | January 31, 2026 |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | 1,812,012 | 1,421,233 |
| Short-term investments | 5,430,935 | 5,139,581 |
| Accounts receivable, net of allowance for credit losses of $97 and $256, respectively | 496,677 | 1,259,737 |
| Unbilled accounts receivable | 68,970 | 50,609 |
| Prepaid expenses and other current assets | 137,633 | 126,470 |
| Total current assets | 7,946,227 | 7,997,630 |
| Property and equipment, net | 79,483 | 70,261 |
| Deferred costs, net | 27,835 | 29,961 |
| Lease right-of-use assets | 129,320 | 75,626 |
| Goodwill | 492,991 | 439,877 |
| Intangible assets, net | 55,647 | 30,314 |
| Deferred income taxes | 268,250 | 273,417 |
| Other long-term assets | 60,470 | 62,257 |
| Total assets | 9,060,223 | 8,979,343 |
| Liabilities and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | 35,977 | 37,644 |
| Accrued compensation and benefits | 42,188 | 45,857 |
| Accrued expenses and other current liabilities | 49,634 | 45,885 |
| Income tax payable | 3,018 | 6,698 |
| Deferred revenue | 1,310,498 | 1,488,819 |
| Lease liabilities | 14,635 | 12,153 |
| Total current liabilities | 1,455,950 | 1,637,056 |
| Deferred income taxes | 2,056 | 558 |
| Long-term lease liabilities | 137,060 | 83,706 |
| Other long-term liabilities | 33,708 | 43,271 |
| Total liabilities | 1,628,774 | 1,764,591 |
| Commitments and contingencies (note 12) | ||
| Stockholders’ equity: | ||
| Common stock | 2 | 2 |
| Additional paid-in capital | 2,579,728 | 2,843,089 |
| Accumulated other comprehensive (loss) income | (46,147) | 8,160 |
| Retained earnings | 4,897,866 | 4,363,501 |
| Total stockholders’ equity | 7,431,449 | 7,214,752 |
| Total liabilities and stockholders’ equity | 9,060,223 | 8,979,343 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In thousands)
| Description | Six months ended July 31, 2026 | Six months ended July 31, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income | 534,365 | 428,499 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 22,458 | 19,948 |
| Reduction of lease right-of-use assets | 7,038 | 6,316 |
| Accretion of discount on short-term investments | (2,841) | (4,535) |
| Stock-based compensation | 256,062 | 234,176 |
| Amortization of deferred costs | 9,805 | 8,205 |
| Deferred income taxes | 26,529 | 31,699 |
| Other, net | (1,127) | (1,414) |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 768,314 | 593,032 |
| Unbilled accounts receivable | (18,361) | (9,587) |
| Deferred costs | (7,679) | (7,721) |
| Prepaid expenses and other current and long-term assets | (21,394) | (21,232) |
| Accounts payable | (652) | 3,361 |
| Accrued expenses and other current liabilities | (1,578) | 23,763 |
| Income tax payable | (3,945) | (5,362) |
| Deferred revenue | (200,001) | (180,888) |
| Lease liabilities | (4,426) | (5,300) |
| Other long-term liabilities | 3,258 | 2,631 |
| Net cash provided by operating activities | 1,365,825 | 1,115,591 |
| Cash flows from investing activities | ||
| Purchases of short-term investments | (1,706,632) | (1,452,857) |
| Maturities and sales of short-term investments | 1,345,987 | 1,023,691 |
| Long-term assets | (9,773) | (12,213) |
| Acquisitions, net of cash acquired | (81,833) | — |
| Net cash used in investing activities | (452,251) | (441,379) |
| Cash flows from financing activities | ||
| Proceeds from exercise of common stock options | 17,143 | 182,297 |
| Repurchases of common stock | (472,673) | — |
| Taxes paid related to net share settlement of equity awards | (66,304) | (46,228) |
| Net cash (used in) provided by financing activities | (521,834) | 136,069 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (831) | 1,365 |
| Net change in cash, cash equivalents, and restricted cash | 390,909 | 811,646 |
| Cash, cash equivalents, and restricted cash at beginning of period | 1,423,412 | 1,120,963 |
| Cash, cash equivalents, and restricted cash at end of period | 1,814,321 | 1,932,609 |
| Cash, cash equivalents, and restricted cash at end of period: | ||
| Cash and cash equivalents | 1,812,012 | 1,930,431 |
| Restricted cash included in other long-term assets | 2,309 | 2,178 |
| Total cash, cash equivalents, and restricted cash at end of period | 1,814,321 | 1,932,609 |
| Supplemental disclosures of other cash flow information: | ||
| Cash paid for income taxes, net of refunds | 151,543 | 126,683 |
| Excess tax (deficiency) benefit from employee stock plans | (824) | 15,610 |
Amounts as printed on the EDGAR/iXBRL face — (In thousands, except per share data); (In thousands, except number of shares and par value); (In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗