Veeva Systems Inc. provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America. The company offers Veeva Commercial Cloud, a suite of software, data, and analytics solutions, which include Veeva customer relationship management (CRM) and Veeva Medical CRM, Veeva CLM, Veeva CRM MyInsights, Veeva CLM, Veeva CRM Approved Email, Veeva CRM Engage, Veeva Align, Veeva CRM Events Management, Veeva Nitro, Veeva OpenData, Veeva Link, Veeva Network, Veeva Crossix, Veeva Data Cloud, and MyVeeva for Patients; and Veeva Vault, a cloud-based enterprise content and data management applications for managing commercial functions, including sales and marketing, and medical content and communications, as well as research and development functions, such as clinical, regulatory, quality, and safety. It also provides professional and support services in the areas of implementation and deployment planning and project management; requirements analysis, solution design, and configuration; systems environment management and deployment services; services focused on advancing or transforming business and operating processes related to Veeva solutions; technical consulting services related to data migration and systems integrations; training on its solutions; and ongoing managed services that include outsourced systems administration. The company was formerly known as Verticals onDemand, Inc. and changed its name to Veeva Systems Inc. in April 2009. Veeva Systems Inc. was incorporated in 2007 and is headquartered in Pleasanton, California.

Veeva Systems Inc.

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Income Statement	LTM	Jan '25	Jan '24	Jan '23	Jan '22	Jan '21	Jan '20	Jan '19	Jan '18	Jan '17	Jan '16
Total Revenues	4,293.5	2,746.6	2,363.7	2,155.1	1,850.8	1,465.1	1,104.1	862.2	690.6	544	409.2
Total Revenues %Chg	119.3%	16.2%	9.7%	16.4%	26.3%	32.7%	28.1%	24.9%	26.9%	32.9%	30.6%
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Total Professional Services and Other
Cost of Sales	—	699.6	677.3	609.4	503.7	408.9	303.4	245.3	211.4	173.7	142.2
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Cost of Professional Services and Other
Gross Profit	4,293.5	2,047	1,686.4	1,545.7	1,347.1	1,056.1	800.7	616.9	479.1	370.4	267
Gross Profit
Gross Profit Margin	100%	74.5%	71.3%	71.7%	72.8%	72.1%	72.5%	71.6%	69.4%	68.1%	65.2%
Selling, General & Administrative Expenses	—	662.5	628	566.3	459.6	384.1	304.6	235.3	189.2	165.6	122.4
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General and Administrative
Research & Development Expenses	—	693.1	629	520.3	382	294.2	209.9	158.8	132	96.8	66
Research and Development
Operating Profit	4,293.5	691.4	429.3	459.1	505.5	377.8	286.2	222.9	157.9	108	78.6
Operating Income
Operating Margin	100%	25.2%	18.2%	21.3%	27.3%	25.8%	25.9%	25.8%	22.9%	19.8%	19.2%
Non-Operating Income	362.4	227.9	158.7	50	6.8	16.2	27.5	15.8	7.8	1.7	0
Other Income, Net
Other Expense, Net
Total Non-Operating Income	362.4	227.9	158.7	50	6.8	16.2	27.5	15.8	7.8	1.7	0
Income Before Provision for Income Taxes	4,655.9	919.4	588	509.1	512.3	394	313.7	238.6	165.8	109.6	78.6
Income Before Income Taxes
Provision for Income Taxes	340.8	205.2	62.3	21.4	84.9	14	12.6	8.8	14.6	40.8	24.2
Income Tax Provision
Consolidated Net Income	1,142.4	714.1	525.7	487.7	427.4	380	301.1	229.8	151.2	68.8	54.5
Consolidated Net Income
Net Income Attributable to Common Shareholders	1,142.4	714.1	525.7	487.7	427.4	380	301.1	229.8	151.2	68.8	54.5
Consolidated Net Income
Basic EPS	5.3	4.4	3.3	3.1	2.8	2.5	2	1.6	1.1	0.6	0.4
Diluted EPS	5.1	4.3	3.2	3	2.6	2.4	1.9	1.5	1	0.5	0.4
Basic Weighted Average Shares Outstanding	163.2	161.9	160.5	155.4	153.3	150.7	147.8	144.2	140.3	135.7	132
Total Shares Outstanding	164.4	162.6	161.3	158.2	154.2	152.1	149.1	146.2	142.1	137.9	133.5
Diluted Weighted Average Shares Outstanding	166.3	165.2	163.5	162.4	162.3	160.7	158.3	156.1	153.7	147.6	145
EBITDA	4,345.7	742.4	473.7	500.4	544.4	417.6	314	236.9	172.2	121.8	87.1
Effective Tax Rate	7.3%	22.3%	10.6%	4.2%	16.6%	3.6%	4%	3.7%	8.8%	37.2%	30.7%