VEEVA SYSTEMS Reports Record Earnings for FY2023 Q4 Ending March 1, 2023.

Earnings Overview

On March 1 2023, VEEVA SYSTEMS ($NYSE:VEEV) reported their financial results for FY2023 Q4. Total revenue was USD 188.5 million, an increase of 94.2% compared to the same quarter of the previous year, and net income was USD 563.4 million, a 16.0% year-over-year increase.

Market Price

On Wednesday, VEEVA SYSTEMS reported record earnings for the fiscal year 2023 fourth quarter ending March 1, 2023. The stock opened at $166.9 and closed at $166.1, posting a slight increase of 0.3% from the previous closing price of $165.7. Overall, VEEVA SYSTEMS has had an impressive fiscal year and is well-positioned to continue its growth in the coming year.

The company’s success can be attributed to its innovative products and services that enable life science companies to develop and commercialize their products more efficiently and effectively. With the continued growth of the healthcare industry, VEEVA SYSTEMS is set to benefit from increased demand for its products and services. 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

GoodWhale has thoroughly analyzed VEEVA SYSTEMS‘ financials and determined that it is a medium risk investment in terms of financial and business aspects. We have detected two risk warnings in the cash flow statement that are non-financial in nature. To gain access to the full report and read further details about these risk warnings, please become a registered user of GoodWhale. Our team is confident that our analysis of VEEVA SYSTEMS can provide you with the information you need to make an informed decision. 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 over the past fiscal year, with total revenue of USD 188.5 million and net income of USD 563.4 million, both representing significant year-over-year increases. This is an exciting time to invest in VEEVA SYTEMS, with their strong financial performance and potential for further growth. Investors should take note of the increasing demand for their products and services, and the company’s ability to remain competitive in their sector. With VEEVA SYSTEMS’ track record of success, investors can expect continued financial gains and stability in the long term.