Veeva Systems delivered a solid QQ2 2026 quarter, underscoring the company’s leadership in cloud-based life sciences software. Revenue reached $789.1 million, up 16.7% year over year and 3.96% quarter over quarter, while gross margins remained robust at approximately 75.3%. Operating income of $226.5 million produced an operating margin of 28.7%, and net income of $200.3 million yielded a net margin of 25.4%. EBITDA stood at roughly $255.5 million, reflecting durable profitability in a high-value software portfolio. The balance sheet remains exceptionally strong, with ~$6.4 billion in cash and short-term investments and a net cash position of about $1.845 billion. Deferred revenue sits at ~$1.108 billion, providing revenue visibility and multi-year revenue recognition tailwinds that support sustainable cash flow.
Key Performance Indicators
Revenue
Increasing
789.08M
QoQ: 3.96% | YoY: 16.70%
Gross Profit
Increasing
593.83M
75.26% margin
QoQ: 1.47% | YoY: 17.40%
Operating Income
Increasing
226.54M
QoQ: -3.08% | YoY: 36.07%
Net Income
Increasing
200.31M
QoQ: -12.22% | YoY: 17.11%
EPS
Increasing
1.23
QoQ: -12.14% | YoY: 16.04%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $789.081 million; YoY +16.70%; QoQ +3.96%. Gross Profit: $593.828 million; Gross Margin ~75.26% (vs. 75.08% prior year). Operating Income: $226.535 million; Operating Margin ~28.71%. Net Income: $200.309 million; Net Margin ~25.38%. EBITDA: $255.542 million; EBITDA Margin ~32.32%. EPS: $1.23 (GAAP basic); Diluted EPS $1.19. Cash Flow: Net cash from operating activities $238.433 million; Free cash flow $238.433 million. Balance Sheet Highlights: Cash and cash equivalents $1.93B; Short-term investments $4.47B; Total cash and short-term investments ~$6.40B; Deferred revenue ~$1.108B; Total assets ~$7.999B; Total liabilities ~$1.361B; Total stockholders’ equity ~$6.639B. Leverage: Net debt position is negative (~$-1.844B), reflecting a strong liquidity stance with no material long-term debt. Growth drivers include multi-product adoption (CRM, Vault, OpenData, Data Cloud) and ongoing cross-sell across geographies.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
789.08M
16.70%
3.96%
Gross Profit
593.83M
17.40%
1.47%
Operating Income
226.54M
36.07%
-3.08%
Net Income
200.31M
17.11%
-12.22%
EPS
1.23
16.04%
-12.14%
Key Financial Ratios
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