VEEVA SYSTEMS Reports Record-Breaking Earnings for FY2023 Q4

Earnings Overview

On March 1 2023, VEEVA SYSTEMS ($NYSE:VEEV) reported its earnings results for Q4 of FY2023, covering the period ending January 31 2023. Total revenue for the quarter was USD 188.5 million, representing a 94.2% growth from the same period in the prior year. Net income was up 16.0%, standing at USD 563.4 million.

Market Price

The stock opened at $166.9 and closed at $166.1, up by 0.3% from the previous closing price of 165.7. This increase in stock values represents a significant milestone for VEEVA SYSTEMS, showcasing their success and growth throughout the fiscal year. The strong performance of VEEVA SYSTEMS in the fourth quarter was driven by an increase in new customer subscriptions as well as a boost in recurring revenue.

This led to strong growth in both subscription revenue and total revenue. With such a strong finish to the fiscal year, it is sure to be an exciting time for VEEVA SYSTEMS and their investors as they look ahead to the future. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Veeva Systems. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Veeva Systems. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Veeva Systems. More…

Key Ratios Snapshot

Some of the financial key ratios for Veeva Systems are shown below. More…

Analysis

At GoodWhale, we conducted an analysis of VEEVA SYSTEMS‘s fundamentals. After careful evaluation, we determined that VEEVA SYSTEMS is a medium risk investment in terms of financial and business aspects, according to our Risk Rating. However, while conducting our analysis, we detected two risk warnings in the company’s cashflow statement that are non financial. If you are interested in learning more about these warnings and how they could impact your potential investment in VEEVA SYSTEMS, be sure to register on goodwhale.com for more detailed information. More…

Peers

The company’s competitors include ORHub Inc, Essence Information Technology Co Ltd, and Xybion Digital Inc.

– ORHub Inc ($OTCPK:ORHB)

CrowdStrike Holdings, Inc. is an American cybersecurity technology firm headquartered in Sunnyvale, California. It provides endpoint security, threat intelligence, and cyber attack response services. The company was founded in 2011 by George Kurtz and Dmitri Alperovitch.

– Essence Information Technology Co Ltd ($SHSE:688555)

Essence Information Technology Co Ltd is a Chinese company that provides information technology services. It has a market cap of 1.01B as of 2022 and a Return on Equity of -2.84%. The company offers services in areas such as cloud computing, big data, and artificial intelligence.

– Xybion Digital Inc ($TSXV:XYBN)

Xybion Digital Inc is a publicly traded company with a market capitalization of $157.07 million as of 2022. The company has a negative return on equity of 12.47% and is involved in the digital media industry. Xybion Digital Inc owns and operates a number of online properties, including social media, video, and email platforms. The company has a strong presence in the United States, Canada, and Europe.

Summary

VEEVA SYSTEMS has seen impressive growth in its quarter ending January 31, 2023, with total revenue up 94.2% year-over-year and net income up 16.0%. This strong performance is indicative of continued demand for its products and bodes well for investors looking to capitalize on the company’s growth. Furthermore, the cash-rich balance sheet and solid cash flow generation suggests that VEEVA SYSTEMS is well-positioned to weather potential challenges and continue to create value for shareholders. As such, VEEVA SYSTEMS remains an attractive option for investors looking to capitalize on its growth potential.