Veeva Systems Inc. (VEEV) shares lost 8.03% in after-hours on Wednesday, September 1, 2021, and closed the daily trading at $307.00. In the regular trading session of Wednesday, VEEV’s stock gained 0.55%. VEEV shares have risen 13.51% over the last 12 months, and they have moved up 2.39% in the past week. Over the past three months, the stock has gained 17.07%, while over the past six months, it has shed 30.33%.
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VEEV latest development
On September 1, 2021, Veeva Systems Inc. (VEEV) announced results for its second quarter ended July 31, 2021.
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Q2 2022 financial highlights
- VEEV reported total revenue of $455.6 million in Q2 2022 compared to $353.7 million in Q2 2021.
- The total cost of revenue was $122.1 million in Q2 2022 compared to $97.2 million in Q2 2021.
- Total operating expenses were $208.87 million in Q2 2022 compared to $166.4 million in Q2 2021
- Operating income was $124.6 million in Q2 2022 compared to $90.1 million in Q2 2021.
- Fully diluted net income per share was $0.67 in Q2 22 compared to $0.58in Q2 21.
Financial Outlook for Q3 & FY 22
For Q3 2022, Veeva is expecting
- Total revenue to be in the range of $464 and $466 million.
- Non-GAAP operating income in the range of $179 and $181 million.
- Non-GAAP fully diluted net income per share in the range of 0.87 and $0.88.
For FY 2022, Veeva is expecting
- Total revenues between $1,830 and $1,835 million.
- Non-GAAP operating income of about $730 million.
- Non-GAAP fully diluted net income per share of approximately $3.57.
B. Braun select the VEEV suite
On August 31, 2021, Veeva Systems (VEEV) announced that B. Braun SE (B. Braun), selected Veeva Vault Clinical Operations Suite to modernize study management and payments to partner sites. B. Braun will have the technology foundation to streamline studies across Europe, the Americas, and Asia, with Veeva MedTech industry expertise and leading clinical applications.
VEEV acquisition of Learnaboutgmp
On August 3, 2021, Veeva Systems (VEEV) acquired Learnaboutgmp, a leading provider of accredited GxP training for life sciences. With more than 170 course titles and over 450 microlearning assets, Learnaboutgmp delivers a comprehensive eLearning library to help organizations develop high-impact learning programs that reduce cost and improve training outcomes.
Worldwide availability of VEEV link
On June 9, 2021, Veeva Systems (VEEV) announced the availability of 11 new therapeutic areas in the Veeva Link customer intelligence platform. Initially started in oncology, Veeva Link delivers deep, curated expert profiles with real-time insights that help life sciences teams find and engage with global experts across twelve therapeutic areas.
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Conclusion
Well, as of this writing we are unable to find a valid reason behind its loss on Wednesday after-hours. Its recent financial results beat the analyst’s earnings and revenue estimates but its stock still went down which is a bit strange.