Veeva Systems raised its fiscal 2027 outlook after second-quarter revenues increased 17.6% year over year to $928 million, driven by Vault CRM adoption and broader commercial execution. The company now expects fiscal 2027 revenues of $3.682-$3.687 billion, subscription revenues of about $3.08 billion, and adjusted earnings of roughly $9.21 per share, implying about 15% growth at the high end. Management also projects approximately $1.64 billion in non-GAAP operating income, with a roughly 44% non-GAAP operating margin. Vault CRM recorded its best quarter to date, with two additional top-20 biopharma selections, bringing commitments to 12 of the top 20, and more than 180 customers are live on the platform. Falcon, Veeva's agentic AI product, has five early adopters including a top-20 pharma company, with first go-lives expected in 2026, though monetization remains early. R&D and Quality subscription revenues rose 19% year over year to $419.4 million in the second quarter, as newer products like EDC, eCOA, RTSM, Safety, and LIMS are expected to become more important. Veeva currently carries a Zacks Rank #3 (Hold), with a Value Score of D, a Growth Score of B, a Momentum Score of A, and a VGM Score of B.
Veeva Systems Inc Class AVault CRM adoption and top-20 pharma selections drive revenue growth and raised FY27 outlook
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