Veeva Systems, a leading provider of industry cloud solutions for the global life sciences industry, has reported its financial results for the fiscal year ended January 31, 2024. The company's total revenues for the fiscal year reached $2,364 million, marking a 10% increase from the previous year's $2,155 million. Subscription services revenues, a key component of Veeva's business model, also saw a 10% growth year-over-year, amounting to $1,902 million. Net income for the fiscal year was reported at $526 million, up from $488 million in the previous year. Veeva's customer base expanded to 1,432, with growth in both Commercial Solutions and R&D Solutions customers. The company's R&D Solutions are expected to account for a larger share of subscription services revenues and...Show More

Veeva Systems, a leading provider of industry cloud solutions for the global life sciences industry, has reported its financial results for the fiscal year ended January 31, 2024. The company's total revenues for the fiscal year reached $2,364 million, marking a 10% increase from the previous year's $2,155 million. Subscription services revenues, a key component of Veeva's business model, also saw a 10% growth year-over-year, amounting to $1,902 million. Net income for the fiscal year was reported at $526 million, up from $488 million in the previous year. Veeva's customer base expanded to 1,432, with growth in both Commercial Solutions and R&D Solutions customers. The company's R&D Solutions are expected to account for a larger share of subscription services revenues and total revenues in the future. Veeva Systems also highlighted its expansion beyond the life sciences industry, offering R&D Solutions to other industries primarily in North America and Europe. The company's financial performance demonstrates its continued growth and the increasing demand for its specialized cloud software, data solutions, and business consulting services.