Veeva Systems' first quarter revenue rose 16% beating estimates, prompting a raised fiscal 2027 outlook.

Veeva Systems reported first quarter revenue of $882.9 million, an increase of 16% year-over-year, with non-GAAP EPS of $2.24. Both top and bottom-line results surpassed analyst expectations. The company provided a strong outlook, raising its full-year revenue and profit guidance for fiscal 2027.

Key Highlights

• Subscription revenues grew 15% year-over-year to $730.2 million, driven by broad-based demand across the company's cloud solutions.
• Veeva raised its full-year fiscal 2027 revenue guidance to a range of $3,635 million to $3,645 million and non-GAAP EPS to approximately $9.05.
• The company reported continued momentum for its Vault CRM platform, adding 27 new customers in the quarter and now has more than 150 customers live.