Veeva Systems Inc. (VEEV) delivered robust financial results for its fiscal 2026 third quarter ended October 31, 2025, underscoring the strength of its subscription-based model and growing adoption of its industry-specific cloud platforms.
The life sciences cloud provider reported total revenue of $811.2 million for Q3 FY26, a 16% rise from $699.2 million in Q3 FY25. Subscription service remained the backbone of growth, contributing $682.5 million, up 17% year-over-year from $580.9 million.
Veeva's Vault CRM continued to gain traction, adding 23 new customers in the quarter and expanding its footprint to 115 live customers worldwide. A notable highlight was a major rollout with a top 20 biopharma in Japan, showcasing the platform's ability to handle global complexity.
Meanwhile, the Veeva Development Cloud emerged as a significant growth driver. Three top 20 biopharmas selected Veeva Development Cloud applications as their enterprise standard in the quarter, including one each for Veeva Study Startup, Veeva Study Training, and Veeva Safety.
Net income for the third quarter of fiscal 2026 climbed to $236.2 million, or $1.40 per diluted share, up 27% compared to $185.8 million, or $1.13 per share, a year earlier.
On a non-GAAP basis, net income rose to $345.1 million, or $2.04 per diluted share, up from $288.3 million, or $1.75 per diluted share, in the prior-year quarter.
Veeva ended the quarter with cash and cash equivalents of $1.66 billion and short-term investments of $4.97 billion, reflecting strong liquidity, compared with a cash balance of $1.11 billion and short-term investments of $4.03 billion a year ago.
Operating cash flow for the first nine months of FY26 totaled $1.3 billion, compared with $1.0 billion in the same period of FY25.
For the fourth quarter ending January 31, 2026, Veeva expects revenue between $807 million and $810 million, rising from $699 million in the fourth quarter of fiscal year 2025.
For the full fiscal year ending January 31, 2026, Veeva projects revenue between $3.166 billion and $3.169 billion, up from revenue of $2.7 billion reported in fiscal 2025.
Looking further ahead, CFO Brian Van Wagner reaffirmed the company's trajectory towards its 2030 goal of a $6 billion revenue run rate, citing broad-based demand and execution strength.
VEEV has traded in the range of $201.54 to $310.50 over the past year. The stock closed yesterday's trading at $270.50, down 0.92%, and fell further to $254.99, down 5.73% in after-hours trading.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.