- Veeva (VEEV) expects FQ2 revenue of $62.5M-$63.5M and EPS of $0.05-$0.06 vs. a consensus of $60M and $0.06. FY15 (ends Jan. '15) guidance is for revenue of $270M-$275M and EPS of $0.23-$0.25 vs. a consensus of $261.6M and $0.24.
- Along with its FQ2 results and guidance, Veeva has announced it's extending its partnership cloud CRM giant Salesforce (CRM) through 2025.
- Veeva's life sciences cloud CRM software will continue to run on the Salesforce1/Force.com app development platform, and Veeva will remain Salesforce's "preferred worldwide partner for the pharmaceutical and biotech industry."
- The deal features minimum payment commitments from Veeva; the company says other deal terms are "largely unchanged." There had been concerns Veeva would have to make large concessions to Salesforce to renew its deal.
- Veeva's subscription revenue rose 89% Y/Y in FQ4 to $45.7M (73% of total revenue). Services revenue rose only 10% to $17.2M. The company's deferred revenue balance rose 73% Y/Y to $67.4M.
- VEEV +1.2% AH. FQ4 results, PR
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