Veeva Systems (NYSE: VEEV) reported Q4 EPS of $0.78, $0.10 better than the analyst estimate of $0.68. Revenue for the quarter came in at $396.8 million versus the consensus estimate of $380.23 million.

Fiscal 2021 Fourth Quarter Results:

• Revenues: Total revenues for the fourth quarter were $396.8 million, up from $311.5 million one year ago, an increase of 27% year-over-year. Subscription services revenues for the fourth quarter were $322.8 million, up from $254.1 million one year ago, an increase of 27% year-over-year.
• Operating Income and Non-GAAP Operating Income(1): Fourth quarter operating income was $98.8 million, compared to $60.4 million one year ago, an increase of 64% year-over-year. Non-GAAP operating income for the fourth quarter was $153.2 million, compared to $103.4 million one year ago, an increase of 48% year-over-year.
• Net Income and Non-GAAP Net Income(1): Fourth quarter net income was $102.9 million, compared to $66.2 million one year ago, an increase of 56% year-over-year. Non-GAAP net income for the fourth quarter was $126.1 million, compared to $85.5 million one year ago, an increase of 47% year-over-year.
• Net Income per Share and Non-GAAP Net Income per Share(1): For the fourth quarter, fully diluted net income per share was $0.64, compared to $0.42 one year ago, while non-GAAP fully diluted net income per share was $0.78, compared to $0.54 one year ago.

“It was a transformational year for life sciences and for Veeva. The industry delivered breakthroughs in diagnostics, therapies, and vaccines during a global pandemic,” said CEO Peter Gassner. “I am proud of the Veeva team's execution and commitment. We innovated faster than ever before to help our customers adapt quickly in support of doctors and patients around the world.”

“Our record results in Q4 and the year reflect our continued ability to deliver for the industry and our deep commitment to customer success,” said CFO Brent Bowman. “We are investing aggressively for the sizable market opportunity we see across all our major product areas.”

GUIDANCE:

Veeva Systems sees Q1 2022 EPS of $0.77-$0.78, versus the consensus of $0.74. Veeva Systems sees Q1 2022 revenue of $408-410 million, versus the consensus of $399.9 million.

Veeva Systems sees FY2022 revenue of $1.755-1.765 billion, versus the consensus of $1.72 billion.

Veeva is providing guidance for its fiscal first quarter ending April 30, 2021 as follows:

• Total revenues between $408 and $410 million.
• Non-GAAP operating income between $157 and $159 million(4).
• Non-GAAP fully diluted net income per share between $0.77 and $0.78(4).

Veeva is providing guidance for its fiscal year ending January 31, 2022 as follows:

• Total revenues between $1,755 and $1,765 million.
• Non-GAAP operating income of about $655 million(4).
• Non-GAAP fully diluted net income per share of approximately $3.20(4).

For earnings history and earnings-related data on Veeva Systems (VEEV) click here.