Filing Flows › Veeva Systems (VEEV) › Q2 FY27 › vs Q1 FY27
Veeva Systems (VEEV) Q2 FY27 vs Q1 FY27 (quarter over quarter)
Veeva Systems's revenue rose $45.0M (+5%) from $883M in Q1 FY27 to $928M in Q2 FY27. The biggest changes: Subscription +$36.6M (+5%); Professional services and other +$8.4M (+6%). Gross margin 75.0% against 75.0% (+0.0 pts).
Veeva Systems, Q2 FY27: revenue $928M (+18% year over year), operating margin 29.6%, net earnings $273M, operating cash flow $239M. The chart draws each line against Q1 FY27, the increases inside each band.
Margins
| Q2 FY27 | Q1 FY27 | Change | |
|---|---|---|---|
| Gross margin | 75.0% | 75.0% | +0.0 pts |
| Operating margin | 29.6% | 30.9% | -1.3 pts |
| Net margin | 29.5% | 29.6% | -0.1 pts |
Every line
| Line | Q2 FY27 | Q1 FY27 | Change | % |
|---|---|---|---|---|
| R&D and Quality Solutions | $419M | $392M | $27.1M | +7% |
| Commercial Solutions | $347M | $338M | $9.5M | +3% |
| R&D and Quality Solutions | $101M | $95.2M | $6.3M | +7% |
| Commercial Solutions | $59.7M | $57.6M | $2.2M | +4% |
| Subscription | $767M | $730M | $36.6M | +5% |
| Professional services and other | $161M | $153M | $8.4M | +6% |
| Revenue | $928M | $883M | $45.0M | +5% |
| Gross profit | $696M | $662M | $33.9M | +5% |
| Cost of revenue | $232M | $221M | $11.1M | +5% |
| Other income, net | $74.5M | $74.4M | $94K | +0.1% |
| Operating profit | $275M | $273M | $1.9M | +0.7% |
| Operating expenses | $421M | $389M | $32.0M | +8% |
| Pre-tax earnings | $350M | $348M | $2.0M | +0.6% |
| Research & development | $223M | $208M | $14.6M | +7% |
| Sales & marketing | $127M | $111M | $15.6M | +14% |
| General & admin | $71.3M | $69.5M | $1.8M | +3% |
| Net earnings | $273M | $261M | $12.5M | +5% |
| Income tax | $76.1M | $86.6M | −$10.5M | -12% |
| Share-based compensation | $137M | $119M | $17.5M | +15% |
| Working capital & other | $172M | −$747M | $918M | — |
| Operating cash flow | $239M | $1.1B | −$888M | -79% |
Questions
How much did Veeva Systems's revenue grow quarter over quarter in Q2 FY27?
Veeva Systems's revenue rose $45.0M (+5%) from $883M in Q1 FY27 to $928M in Q2 FY27.
What drove Veeva Systems's revenue change in Q2 FY27?
Subscription +$36.6M (+5%); Professional services and other +$8.4M (+6%).