Life sciences CRM provider Veeva Systems this afternoon reported fiscal Q4 revenue and profit that topped analysts’ expectations, and an outlook that for this quarter’s revenue and profit higher as well.
The report sent Veeva shares up 2% in late trading.
CEO Peter Gassner remarked that 2020 had been “a transformational year for life sciences and for Veeva,” noting that the “industry delivered breakthroughs in diagnostics, therapies, and vaccines during a global pandemic.”
Added 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.”
CFO Brent Bowman said the results “reflect our continued ability to deliver for the industry and our deep commitment to customer success.”
“We are investing aggressively for the sizable market opportunity we see across all our major product areas,” added Bowman.
Revenue in the three months ended in January rose to $397 million, and a net profit of 78 cents a share, excluding some costs.
Analysts had been modeling $380 million and 68 cents per share.
The company said it had record bookings in the quarter, including “outperformance” in its Commercial Cloud suite of offerings, “with particular strength in Veeva CRM Engage Meeting in Q4,” it said.
The company’s Development Cloud product had record bookings as well.
For the current quarter, the company sees revenue of $408 million million to $410 million, and EPS in a range of 77 cents to 78 cents. That compares to consensus for $401 million and a 74-cent profit per share.
For the full year, the company sees revenue in a range of $1.755 billion to $1.765 billion, and EPS of $3.20, versus consensus of $1.72 billion and $3.12 per share.