Filing Flows › Veeva Systems (VEEV) › Q2 FY27 › vs Q2 FY26
Veeva Systems (VEEV) Q2 FY27 vs Q2 FY26 (year over year)
Veeva Systems's revenue rose $139M (+18%) from $789M in Q2 FY26 to $928M in Q2 FY27. The biggest changes: Subscription +$108M (+16%); Professional services and other +$31.3M (+24%). Gross margin 75.0% against 75.3% (-0.3 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 Q2 FY26, the increases inside each band.
Margins
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Gross margin | 75.0% | 75.3% | -0.3 pts |
| Operating margin | 29.6% | 24.8% | +4.8 pts |
| Net margin | 29.5% | 25.4% | +4.1 pts |
Every line
| Line | Q2 FY27 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| R&D and Quality Solutions | $419M | $352M | $67.7M | +19% |
| Commercial Solutions | $347M | $308M | $39.9M | +13% |
| R&D and Quality Solutions | $101M | $82.2M | $19.3M | +23% |
| Commercial Solutions | $59.7M | $47.7M | $12.0M | +25% |
| Subscription | $767M | $659M | $108M | +16% |
| Professional services and other | $161M | $130M | $31.3M | +24% |
| Revenue | $928M | $789M | $139M | +18% |
| Gross profit | $696M | $594M | $102M | +17% |
| Cost of revenue | $232M | $195M | $36.8M | +19% |
| Other income, net | $74.5M | $69.5M | $5.1M | +7% |
| Operating profit | $275M | $196M | $79.1M | +40% |
| Operating expenses | $421M | $398M | $23.0M | +6% |
| Pre-tax earnings | $350M | $265M | $84.2M | +32% |
| Research & development | $223M | $193M | $30.2M | +16% |
| Sales & marketing | $127M | $109M | $17.3M | +16% |
| General & admin | $71.3M | $95.8M | −$24.5M | -26% |
| Net earnings | $273M | $200M | $73.1M | +37% |
| Income tax | $76.1M | $65.1M | $11.0M | +17% |
| Share-based compensation | $137M | $122M | $14.8M | +12% |
| Working capital & other | $172M | $83.8M | $87.7M | +105% |
| Operating cash flow | $239M | $238M | $276K | +0.1% |
Questions
How much did Veeva Systems's revenue grow year over year in Q2 FY27?
Veeva Systems's revenue rose $139M (+18%) from $789M in Q2 FY26 to $928M in Q2 FY27.
What drove Veeva Systems's revenue change in Q2 FY27?
Subscription +$108M (+16%); Professional services and other +$31.3M (+24%).