Filing Flows › Veeva Systems (VEEV) › Q1 FY27 › vs Q1 FY26
Veeva Systems (VEEV) Q1 FY27 vs Q1 FY26 (year over year)
Veeva Systems's revenue rose $124M (+16%) from $759M in Q1 FY26 to $883M in Q1 FY27. The biggest changes: Subscription +$95.4M (+15%); Professional services and other +$28.5M (+23%). Gross margin 75.0% against 77.1% (-2.1 pts).
Veeva Systems, Q1 FY27: revenue $883M (+16% year over year), operating margin 30.9%, net earnings $261M, operating cash flow $1.1B. The chart draws each line against Q1 FY26, the increases inside each band.
Margins
| Q1 FY27 | Q1 FY26 | Change | |
|---|---|---|---|
| Gross margin | 75.0% | 77.1% | -2.1 pts |
| Operating margin | 30.9% | 30.8% | +0.1 pts |
| Net margin | 29.6% | 30.1% | -0.5 pts |
Every line
| Line | Q1 FY27 | Q1 FY26 | Change | % |
|---|---|---|---|---|
| R&D and Quality Solutions | $392M | $329M | $63.0M | +19% |
| Commercial Solutions | $338M | $305M | $32.5M | +11% |
| R&D and Quality Solutions | $95.2M | $77.7M | $17.5M | +23% |
| Commercial Solutions | $57.6M | $46.6M | $11.0M | +24% |
| Subscription | $730M | $635M | $95.4M | +15% |
| Professional services and other | $153M | $124M | $28.5M | +23% |
| Revenue | $883M | $759M | $124M | +16% |
| Gross profit | $662M | $585M | $76.8M | +13% |
| Cost of revenue | $221M | $174M | $47.1M | +27% |
| Other income, net | $74.4M | $65.1M | $9.3M | +14% |
| Operating profit | $273M | $234M | $39.4M | +17% |
| Operating expenses | $389M | $351M | $37.4M | +11% |
| Pre-tax earnings | $348M | $299M | $48.7M | +16% |
| Research & development | $208M | $184M | $24.3M | +13% |
| Sales & marketing | $111M | $98.6M | $12.5M | +13% |
| General & admin | $69.5M | $68.8M | $646K | +0.9% |
| Net earnings | $261M | $228M | $32.7M | +14% |
| Income tax | $86.6M | $70.6M | $16.0M | +23% |
| Share-based compensation | $119M | $112M | $7.0M | +6% |
| Working capital & other | $747M | $537M | $210M | +39% |
| Operating cash flow | $1.1B | $877M | $250M | +28% |
Questions
How much did Veeva Systems's revenue grow year over year in Q1 FY27?
Veeva Systems's revenue rose $124M (+16%) from $759M in Q1 FY26 to $883M in Q1 FY27.
What drove Veeva Systems's revenue change in Q1 FY27?
Subscription +$95.4M (+15%); Professional services and other +$28.5M (+23%).