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Veeva Systems Inc. Class A (VEEV+3.05%) has submitted its Form 10-K filing for the fiscal year ended January 31, 2025.
The filing reports total revenues of $2.75 billion, representing a 16% increase from the previous fiscal year. Subscription services revenues accounted for $2.28 billion of the total, marking a 20% increase year-over-year.
Professional services and other revenues remained flat at $462 million. The company attributes the growth in subscription services to increased adoption of its R&D Solutions and Commercial Solutions.
Veeva's net income for the fiscal year was $714 million, up from $526 million in the previous year. The increase in net income is primarily due to higher revenues and improved operating margins.
Operating income was reported at $691 million, with a gross margin of 75%. The company noted an increase in operating expenses, primarily due to higher research and development costs.
Veeva Systems reported cash, cash equivalents, and short-term investments totaling $5.2 billion as of January 31, 2025. The company believes its existing cash reserves are sufficient to meet its working capital and capital expenditure needs over the next 12 months.
The filing also details various risk factors, including competition, reliance on third-party providers, and regulatory changes in the life sciences industry.
Veeva Systems continues to focus on expanding its product offerings and increasing its customer base in the life sciences sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Veeva Systems Inc. Class A annual 10-K report dated March 24, 2025. To report an error, please email earnings@qz.com.