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Veeva Systems delivered solid QQ3 2026 results, underpinned by durable subscription-based revenue and strong operating leverage. Revenue of $811.2 million rose 16.0% year over year and 2.8% quarter over quarter, with a gross margin of 75.4% and an operating margin of 29.7%, highlighting efficient cost governance amid continued product adoption. Net income reached $236.2 million, translating to a net margin of 29.1% and earnings per share (GAAP) of $1.44 (diluted $1.40). The quarterly performance reinforces Veeva’s leadership in cloud-based life sciences software, driven by continued demand for Veeva Vault, Veeva CRM, and ancillary data/analytics offerings.
Key Performance Indicators
811.24M
QoQ: 2.81% | YoY: 16.02%
611.77M
75.41% margin
QoQ: 3.02% | YoY: 16.57%
240.85M
QoQ: 22.94% | YoY: 32.81%
236.20M
QoQ: 17.92% | YoY: 27.12%
1.44
QoQ: 17.07% | YoY: 25.22%
Revenue: $811.236M (YoY +16.0%, QoQ +2.81%); Gross Profit: $611.771M (YoY +16.57%, QoQ +3.02%); Operating Income: $240.853M (YoY +32.81%, QoQ +22.94%); Net Income: $236.203M (YoY +27.12%, QoQ +17.92%); EPS: $1.44 (YoY +25.22%, QoQ +17.07%); Gross Margin: 75.41%; Operating Margin: 29.69%; Net Margin: 29.12%; Cash from Operations: $192.787M; Free Cash Flow: $186.484M; Cash & Short-Term Investments: ~$6.637B; Net Debt: -$1.570B; Deferred Revenue: $822.466M; DSO: 41.25 days; Total Assets: $8.100B; Total Liabilities: $1.057B; Total Equity: $7.041B.
Metric
Value
YoY Change
QoQ Change
Revenue
811.24M
16.02%
2.81%
Gross Profit
611.77M
16.57%
3.02%
Operating Income
240.85M
32.81%
22.94%
Net Income
236.20M
27.12%
17.92%
EPS
1.44
25.22%
17.07%
Key Financial Ratios
75.40%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
29.70%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
29.10%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
2.92%
Return on assets suggests inefficient capital allocation
3.35%
Return on equity suggests inefficient capital allocation
7.53
Current ratio indicates excellent liquidity and financial flexibility
0.01
Debt-to-equity shows conservative leverage and low financial risk
50.45x
Very high P/E indicates aggressive growth expectations, higher risk
6.77x
Very high premium suggests asset-light business model or lofty expectations
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