How did Veeva Systems' revenue and expenses trend in Q4 2025?

Veeva Systems' Revenue and Expenses Trend in Q4 2025:

1. Revenue Outperformance:
   • Veeva Systems reported a revenue of $721 million for Q4 2025, surpassing analyst estimates of $699.18 million.
   • This represents a significant year-over-year growth, with a 14.3% increase in revenue compared to the previous year's $630.6 million.
2. Earnings Per Share (EPS) Excellence:
   • The company's adjusted EPS for the quarter was $1.74, exceeding estimates of $1.58.
   • This marked a 26.1% increase year-over-year, reflecting strong financial performance.
3. Operating Income Strength:
   • Veeva Systems reported a non-GAAP operating income of $308 million for Q4 2025.
   • The company's full-year non-GAAP operating income reached $1.15 billion, indicating robust operational efficiency.
4. Expense Management:
   • Total operating expenses increased by 10.8% year-over-year to $321.4 million.
   • Research and Development (R&D) expenses rose by 14.8% to $163.6 million, while general and administrative expenses remained stable at $58.7 million.
5. Financial Position:
   • Veeva Systems maintained a strong financial position with a current ratio of 6.36 and more cash than debt on its balance sheet.
   • The company's gross margin remained impressive at 73.93% over the last twelve months, highlighting its profitability metrics.

In conclusion, Veeva Systems demonstrated robust growth in revenue and earnings for Q4 2025, surpassing market expectations. The company's strategic focus on innovation, particularly in AI-driven products, and its expansion into new markets have contributed significantly to its financial outperformance.