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Veeva Systems' fiscal Q1 profit climbs 53% YOY

Veeva Systems Inc.'s non-GAAP EPS for the first fiscal quarter ended April 30 was 50 cents, compared with the S&P Global Market Intelligence consensus normalized EPS estimate of 45 cents.

The Pleasanton, Calif.-based healthcare technology company's EPS rose 51.5% year over year from 33 cents.

Non-GAAP net income totaled $78.7 million, an increase of 53.1% from $51.4 million in the prior-year period. GAAP net income climbed 65.7% on a yearly basis to $73.4 million, or 47 cents per share, from $44.3 million, or 29 cents per share.

Veeva posted revenue growth of 25.2% year over year to $244.8 million from $195.5 million.

For the fiscal second quarter ending July 31, the company forecasts that non-GAAP operating income per share will range between 48 cents and 49 cents, and non-GAAP operating income will be between $94 million and $95 million.

The S&P Global Market Intelligence consensus normalized EPS estimate for the fiscal second quarter is 46 cents.

Veeva's second-quarter revenue is expected to fall between $259 million and $260 million.

For the fiscal year ending Jan. 31, 2020, the company expects non-GAAP operating income per share to range between $2.01 and $2.03, while non-GAAP operating income is expected between $385 million and $390 million. The S&P Global Market Intelligence consensus normalized EPS estimate for the full year 2020 is $1.92.

Veeva expects total revenue of between $1.045 billion and $1.05 billion for the full fiscal year.