Overview

• US life sciences cloud provider's fiscal Q1 revenue rose 16%, beating analyst expectations

• Adjusted net income and adjusted operating income for Q1 both beat analyst expectations

• Company cites rapid progress in AI and recent Ostro acquisition as key growth drivers

Outlook

• Veeva sees Q2 revenue between $902 mln and $905 mln

• Company expects Q2 non-GAAP EPS between $2.21 and $2.22

• Veeva forecasts FY27 revenue between $3.635 bln and $3.645 bln

Result Drivers

• AI ADVANCEMENTS - Co said rapid progress in Veeva AI, including Ostro acquisition and expansion of Vault AI, contributed to growth

• CUSTOMER EXPANSION - Co added 27 new Vault CRM customers in the qtr and now has more than 150 customers live

• ENTERPRISE WINS IN DEVELOPMENT CLOUD - Co reported multiple enterprise biopharma wins across clinical, regulatory, and safety

Company press release: ID:nPn5cFr03a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Total Revenues	Beat	$882.95 mln	$853.65 mln (24 Analysts)
Q1 EPS		$1.57
Q1 Adjusted Net Income	Beat	$371.10 mln	$356.68 mln (22 Analysts)
Q1 Net Income		$260.94 mln
Q1 Adjusted Operating Income	Beat	$395.40 mln	$380.93 mln (24 Analysts)
Q1 Pretax Profit		$347.53 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 8 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the advanced medical equipment & technology peer group is "buy"

• Wall Street's median 12-month price target for Veeva Systems Inc is $272.50, about 49% above its June 2 closing price of $182.94

• The stock recently traded at 20 times the next 12-month earnings vs. a P/E of 21 three months ago

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