Veeva Systems Q1 Revenue Grows 16% to $882.9M, Raises FY27 Guidance
VEEV•Veeva Systems reported Q1 adjusted EPS of $2.24, beating estimates by $0.10, and revenue of $882.9M, up 16% year-over-year. The company raised Q2 revenue guidance to $902M-$905M and full-year fiscal 2027 revenue to $3.635B-$3.645B with EPS guidance of $9.05.
1. First-Quarter Results Exceed Estimates
Veeva delivered adjusted EPS of $2.24, surpassing the $2.14 estimate by $0.10, and generated revenue of $882.9 million, up 16% from $759.0 million a year earlier. Shares dipped up to 2.6% in after-hours trading following the announcement.
2. Upward Revision of Guidance
The company projects Q2 revenue between $902 million and $905 million (midpoint $903.5 million versus $888.4 million consensus) and adjusted EPS of $2.21–$2.22. For fiscal 2027, Veeva forecasts revenue of $3.635 billion to $3.645 billion and adjusted EPS of $9.05, above analyst expectations.
3. Strong Subscription and Services Growth
Subscription revenue grew 15% year-over-year to $730.2 million, while professional services and other revenue rose to $152.8 million from $124.3 million. Adjusted operating income reached $395.4 million, up 13%, and net income increased 13% to $371.1 million.
4. AI Progress and Strategic Acquisition
Veeva added 27 new Vault CRM customers, bringing total live customers above 150 on the platform. The March acquisition of Ostro, delivering conversational AI to over 50 brands, supports the company’s expansion in life sciences software.
