Veeva Systems sets IPO price range of $12-$14


The price range translates into a valuation range of $1.47B-$1.71B. Veeva (VEEV) is looking to sell 9.7M new shares, and 3.3M on behalf of insiders. (S-1)

Veeva, a provider of cloud-based software for pharmaceutical R&D and sales/marketing teams, had revenue of $92.4M (+71% Y/Y) in the 6 months ending July 31, and net income of $10.8M. Subscription revenue was $62M, and professional services/other $30.4M.

Opex jumped 112% Y/Y in the 6-month period to $37.6M. As of July 31, the deferred revenue balance (important for companies relying on cloud subscriptions) stood at $48.3M.

Comments (3)
  • Kingkang
    , contributor
    Comments (171) | Send Message
     
    anyone know when this IPO will go public?
    4 Oct 2013, 08:15 AM Reply Like
  • troul
    , contributor
    Comments (20) | Send Message
     
    10/15
    7 Oct 2013, 06:21 PM Reply Like
  • FatBearHoneyLover
    , contributor
    Comments (175) | Send Message
     
    tomorrow, 16th, here are some notables

     

    "... As of January 31, 2011, 2012 and 2013, we served 51, 95 and 134 life sciences customers, respectively. As of August 31, 2013, we served approximately 170 total life sciences customers ...

     

    ... Revenues from professional services tend to be concentrated at the beginning of a customer deployment. Given this model and continued new customer adoption and existing customer expansion, professional services revenues have represented a material percent of our total revenues. For example, professional services and other revenues were 43% and 33% of total revenues in our fiscal year ended January 31, 2013 and the six months ended July 31, 2013, respectively. Over time, the proportion of subscription services revenues for a particular customer has tended to increase relative to professional services revenues ...

     

    ... For our fiscal years ended January 31, 2011, 2012 and 2013, our subscription services revenue retention rate was 192%, 159% and 187%, respectively ... "

     

    If anyone looks at their SEC filling, we should expect their tremendous growth declines, probably their domestic market (US), but there could be more international growth, China just might be one of the biggest among many. Most of their growth in the past quarter archived by increment in their subscription revenue, not so much in their professional service since last year, but I suppose this could increase in the future.
    15 Oct 2013, 05:57 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs