Veeva Systems Inc. reported fiscal second-quarter 2027 adjusted earnings per share of $2.35, exceeding the $2.22 consensus estimate by 5.9%. Total revenue for the quarter ended July 31 reached $928 million, up 12% from the prior year and surpassing the $905.4 million forecast by 2.5%. Non-GAAP operating income stood at $416 million.
Commercial subscription revenue grew 13% year-over-year, including double-digit growth excluding Crossix. Vault CRM deployments surpassed 180 customers, with management describing it as the company’s strongest CRM quarter on record. The company also raised its full-year guidance during the earnings call.
Veeva’s stock closed the regular session at $244.91, down 0.76%, before surging 9.4% in after-hours trading to $268. The shares have gained 34% over the past six months, trading within a 52-week range of $148.05 to $310.50. Market capitalization stands at $39.85 billion.
Management highlighted progress on new initiatives, including Falcon, an agentic labor product positioned as a fourth business category alongside cloud software, data, and consulting. Falcon currently has five early adopters, with initial deployments expected in fiscal 2027. The company also introduced Aspen, a horizontal CRM product targeting tech startups, currently in a limited testing phase with a simplified pricing model of $50 per user per month plus usage-based charges.
CEO Peter Gassner emphasized operational execution, stating that Q2 delivered results ahead of guidance. He described Falcon as a transformative shift in Veeva’s offerings, noting it expands the company’s addressable market beyond traditional IT buyers. Gassner also expressed renewed confidence in the company’s long-standing relationship with IQVIA, calling it the best development for Veeva in the past year.
