Earnings Review and Free Research Report: Veeva’s Revenue Surged 27%; Net Income Rocketed 192%

Research Desk Line-up: HealthEquity Post Earnings Coverage

LONDON, UK / ACCESSWIRE / September 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Veeva Systems Inc. (NYSE: VEEV), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=VEEV, following the Company's reporting of its second quarter fiscal 2018 financial results on August 24, 2017. The provider of cloud-based software services for the life sciences outperformed top- and bottom-line expectations and also provided guidance for the upcoming quarter and fiscal year. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Healthcare Information Services industry. Pro-TD has currently selected HealthEquity, Inc. (NASDAQ: HQY) for due-diligence and potential coverage as the Company announced on September 05, 2017, its financial results for Q2 which ended on July 31, 2017. Register for a free membership today, and be among the early birds that get access to our report on HealthEquity when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on VEEV; also brushing on HQY. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=VEEV

http://protraderdaily.com/optin/?symbol=HQY

Earnings Reviewed

For its fiscal second quarter ended July 31, 2017, Veeva reported revenues of $166.6 million, up 27% compared with revenues of $131.3 million in Q2 FY17. The Company's revenue exceeded analysts' estimates of $164.4 million.

For the reported quarter, Veeva's subscription services revenues were $134.3 million, up 28% compared to $105.2 million in the year ago same period.

For Q2 FY18, Veeva's operating income surged 55% to $36.9 million compared to $23.8 million in Q2 FY17. The Company's non-GAAP operating income for the reported quarter was $52.3 million compared to $36.7 million in the prior year's corresponding quarter; reflecting growth of 42% on a y-o-y basis.

Veeva's Q2 FY18 net income soared 192% to $37.8 million compared to $13.0 million in Q2 FY17. The Company's non-GAAP net income was $35.9 million for the reported quarter, up 61% compared to $22.3 million in the year earlier same quarter.

For Q2 FY18, Veeva's fully diluted net income per share was $0.25 compared to $0.09 in Q2 FY17, while the Company's non-GAAP fully diluted net income per share was $0.23 versus $0.15 in the year ago comparable period. Veeva's earnings beat Wall Street's expectations of $0.20 per share.

Cash Matters

Veeva exited Q2 FY18 with $725 million in cash and short-term investments, up from $664 million at the end of Q1 FY17. This increase was driven by the Company's performance in cash from operations, which came in at almost $58 million. Veeva's operating cash flow benefited from a very strong collections performance in the reported quarter. The Company stated that this is the first year that it is adopting ASU 2016-09, which changes the accounting treatment of tax benefits associated with Veeva's stock-based compensation. For Q2 FY18, this benefited operating cash flow by almost $15 million. Excluding that benefit, Veeva's operating cash flow for the reported quarter would have been approximately $43 million and around $171 million for H1 FY18.

Financial Outlook

For its fiscal third quarter ending October 31, 2017, Veeva is projecting total revenues between $171 million and $172 million; non-GAAP operating income in the range of $50 million and $51 million; and non-GAAP fully diluted net income per share between $0.21 and $0.22.

For its fiscal year ending January 31, 2018, Veeva is forecasting total revenues in the band of $672 million and $674 million; non-GAAP operating income between $200 million and $202 million; and non-GAAP fully diluted net income per share in the range of $0.86 and $0.87.

Stock Performance

On Wednesday, September 13, 2017, the stock closed the trading session at $56.85, slightly falling 0.80% from its previous closing price of $57.31. A total volume of 901.10 thousand shares have exchanged hands. Veeva Systems' stock price skyrocketed 18.76% in the past six months and 43.09% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 39.68%. The stock is trading at a PE ratio of 69.75. At Wednesday's closing price, the stock's net capitalization stands at $8.03 billion.

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SOURCE: Pro-Trader Daily