Veeva Earnings Top Forecasts After Q2 Beat
Veeva earnings beat in Q2 with $928 million revenue and raised FY2027 guidance, reinforcing trader positioning around durable growth and margin strength.
KEY TAKEAWAYS
- Revenue was $928 million, up 18.0% year over year.
- Non-GAAP EPS was $2.35, beating consensus by about $0.13.
- Management raised FY2027 revenue guidance to about $3.7 billion, citing CRM, cloud and AI demand.
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Veeva Systems Inc. (VEEV) reported fiscal 2027 second-quarter results for the quarter ended July 31, 2026, saying Veeva earnings exceeded expectations and prompting a raised full-year outlook on Aug. 26, 2026. Management cited record customer relationship management (CRM) performance, commercial-cloud momentum, and growing AI interest as key drivers.
The company filed a Form 8-K furnishing the press release and posted prepared remarks and an earnings presentation on its investor-relations website ahead of a 5:00 p.m. ET earnings call.
Quarter Results and Profitability
Veeva reported total revenue of $928 million for the quarter, up 18.0% year over year. Subscription revenue rose 16.0% to $767 million, while professional services and other revenue reached $161 million. Net cash provided by operating activities for the first six months of fiscal 2027 was approximately $1.37 billion.
On a non-GAAP basis, operating income increased 18.0% year over year to $416 million, yielding a non-GAAP operating margin of about 44.8%. Non-GAAP diluted earnings per share (EPS) was $2.35, roughly $0.13 above analyst consensus. GAAP operating income rose about 40.0% to $275 million, with GAAP net income of $273 million and GAAP diluted EPS of $1.66.
Guidance Drivers and Cash Position
Management raised full-year fiscal 2027 revenue guidance to a range of $3.68 billion to $3.69 billion. Third-quarter revenue guidance was set between $932 million and $935 million, with non-GAAP diluted EPS guidance of $2.33 to $2.34. The company expects full-year non-GAAP operating margin to remain in the mid-40% range.
At quarter end, Veeva held about $7.2 billion in cash and short-term investments. Management highlighted record CRM performance, broad commercial-cloud momentum, and growing customer interest in AI offerings as the main factors behind the raised guidance. The company reiterated its $6 billion annual revenue run-rate target by 2030 and described its balance sheet as “debt-light,” supporting longer-term expansion.
