VEEV beats, but slowing revs

Crushed earnings, but July revenue outlook barely beats expectations, stock down a couple % after hours. What? So they crush and say outlook is better than you guys thought, but just a litle better, so punish us.


CEO: results were above Veeva’s own guidance and included solid operating cash flow!

Sales have only been growing 20% last 4Q. (Ok, we like to see 25-30%, but still).

These guys provide a great cloud-based services for the medical developement industry including Veeva Vault, a cloud-based enterprise content management applications for managing commercial functions, including medical, sales, and marketing, as well as research and development functions, such as clinical, regulatory, quality, and safety.

They have been growing their service options, thus creating a “land-and-expand” model that we like here. They do for the medical development industry somewhat what Salesforce does for others, but are highly focused on an industry that requires strong understanding of specific rules and regulations, so their is a decent barrier to entry.

Ranked #3 in its stock group with pretty strong ratings:
Composite Rating 96 Pass
EPS Rating 84 Neutral
RS Rating 87 Pass
Group RS Rating A- Pass
SMR Rating A Pass
Acc/Dis Rating B Pass

Recent breakout price was 75.67, still in a good buy range if you care about that kind of thing.

Strongly followed by some.


Looks like a great quarter for VEEV, as usual.

Noticed this in the conf call

One thing to note, we issued an invoice late which resulted in the collection of $20 million in early May that normally would have been collected in Q1.

That’s quite the boo boo. Question is where does this go?

The revenue vs Billings vs bookings vs deferred revenue really makes my head spin with these new accounting rules. So how much should be applied to Q1 revenue and how much should be deferred.

All at once Rev goes to $216M yielding 34% yoy growth

1/2 goes to $206M - 28%

1/4 to $201 - 25%

Veeva is a great company, not a lot of news how they’re doing outside of life sciences in the call. That to me might mean the narrative is not fully intact.


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Nothing much has changed with VEEV as it chugs along. The Net Income has been bumping up along with the 20%+ revenue growth rate.

My article posted here is still relevant -…