Veeva Systems Inc. surged 9% in extended trading on Wednesday after reporting fiscal second-quarter adjusted earnings per share of $2.35, topping the $2.22 consensus, and revenue of $928.0 million against a $905.41 million estimate.
The Pleasanton, California-based company posted an 18% year-over-year revenue increase from $789.1 million, driven by a 16% rise in subscription revenues to $766.8 million. Adjusted operating income climbed 18% to $415.9 million, while adjusted net income grew 16% to $387.4 million.
Veeva raised its fiscal 2027 revenue guidance to a range of $3.682 billion to $3.687 billion, above the prior consensus of $3.646 billion. Adjusted EPS for the full year is projected at approximately $9.21. Third-quarter revenue is expected between $932 million and $935 million, exceeding the $917.9 million estimate, with adjusted EPS guided at $2.33 to $2.34.
The company highlighted Vault CRM’s strongest quarter to date, with more than 180 live customers, including five of the top 20 biopharmaceutical firms. Veeva Falcon, its agentic labor platform, accelerated with five early adopters across clinical, regulatory, and safety functions, with initial deployments planned for this year.
CEO Peter Gassner emphasized the role of AI in driving the next phase of growth, while CFO Brian Van Wagener noted that second-quarter results exceeded guidance across all metrics and improved the full-year outlook.
