Veeva Systems Closes Fiscal 2025 with Record-Breaking Results and Strategic Wins
San Carlos, CA – March 5, 2025 - Veeva Systems closed out fiscal year 2025 on a high note, with record-breaking results and strategic wins across the board. The company's fourth quarter was a strong finish to a great year, with total revenue reaching $721 million and non-GAAP operating income hitting $308 million.
The company also reported record full-year revenues of $2.75 billion and non-GAAP operating income of $1.15 billion for the fiscal year ended January 31, 2025. Peter Gassner, Chief Executive Officer, attributed the success to the execution of Veeva's strategy and delivery of significant innovations across all product areas.
Speaking on the company's quarterly earnings call, Gassner highlighted the significance of the year, saying "This past year was a significant year for Veeva. We executed well and delivered significant innovations across all product areas and made great progress on our AI strategy." He also noted that the company had set its sights on a $6 billion revenue goal by 2030, reflecting the immense opportunities ahead.
One of the key highlights from the quarter was the announcement of a major customer win. A top 20 pharmaceutical company went "all in" with Veeva for their clinical needs, marking a significant shift towards consolidation and strategic vendor relationships within the industry. When asked about this trend on the call, Peter Gassner explained that it's more about speed, efficiency, and standardization rather than risk avoidance.
"This particular customer wanted to make a combined decision for the full clinical platform and align their different clinical teams onto a shared goal and shared technology," said Gassner. "We're getting more strategic with our customers as we have more product solutions and more of our product solutions are proven." He noted that each of the top 20 pharmaceutical companies is taking a unique path, driven by their individual technology journeys and pipeline needs.
Veeva's success in the quarter was also reflected in its guidance, which Peter Gassner and his team provided during the call. The company has set high standards for itself moving forward, with a focus on driving innovation and strategic growth.
