Mon, Mar 24, 8:11 PM (33 days ago)
**Summary of Veeva Systems Inc. (VEEV) 2025 Annual Report (Form 10-K)** **Financial Performance (Fiscal Year Ended January 31, 2025):** - **Revenue:** $2,747 million, up 16% year-over-year. - **Subscription Services Revenue:** $2,285 million, up 20% year-over-year. - **Professional Services Revenue:** $462 million, flat year-over-year. - **Net Income:** $714 million, up 36% year-over-year. - **Earnings per Share (EPS):** $4.32 (diluted). - **Operating Income:** $691 million, up 61% year-over-year. - **Operating Margin:** 25%. - **Gross Margin:** 75%. - **R&D Expenses:** $693 million, up 10% year-over-year. - **Sales and Marketing Expenses:** $397 million, up 4% year-over-year. - **General and Administrative Expenses:** $266 million, up 8% year-over-year. **Strategic Overview:** - **Industry Focus:** Leading provider of industry cloud solutions for the global life sciences industry. - **Product Categories:** Veeva Development Cloud, Veeva Quality Cloud, Veeva Commercial Cloud, and Veeva Data Cloud. - **Customer Base:** 1,477 customers, including major pharmaceutical and biotechnology companies. - **Market Position:** Strong focus on customer success and strategic partnerships. **Future Outlook:** - **Revenue Growth:** Expected to continue, driven by increasing adoption of R&D and Commercial Solutions. - **Operating Expenses:** Anticipated increase due to employee compensation-related costs and hosting fees. - **Market Position:** Intends to maintain leadership in the life sciences industry cloud solutions market. **Risk Factors:** - **Security Breaches:** Potential for customer data breaches and reputational damage. - **Competition:** Highly competitive market with significant technological changes and shifting customer needs. - **Customer Concentration:** Revenue concentration within a small number of key customers. - **Regulatory Compliance:** Must comply with complex global laws and regulations. - **Geopolitical Risks:** Uncertain macroeconomic and geopolitical factors. **Financial Condition:** - **Cash and Cash Equivalents:** $5.2 billion as of January 31, 2025. - **Short-Term Investments:** $4.03 billion. - **Debt:** No significant debt obligations reported. **Market Position Changes:** - **Customer Growth:** Added 45 new customers year-over-year. - **Product Adoption:** Increasing adoption of Veeva Development Cloud and Veeva Commercial Cloud products. **Note:** Amounts are usually in thousands, 000s.