Seeking Alpha

Veeva +12% AH after FQ2 beat, guidance hike

  • Veeva's (NYSE:VEEV) subscription revenue rose 66% Y/Y in FQ2 to $56.6M, after growing 74% in FQ1. Services/other revenue rose 23% to $19.1M.
  • The cloud pharma/life sciences software vendor saw "particular strength" for its CRM software, and added 10+ customers for its Vault content management software.
  • GAAP sales/marketing spend totaled $13.8M, R&D $9.8M, and G&A $7.1M. Veeva's deferred revenue balance rose 14% Q/Q to $85.3M.
  • FQ2 results, PR, financials

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