Q1 26 EPS
$1.97
BEAT +12.98%
Est. $1.74
Q1 26 Revenue
$759.0M
BEAT +4.22%
Est. $728.3M
vs S&P Since Q1 26
-58.6%
TRAILING MARKET
VEEV -30.6% vs S&P +27.9%
Market Reaction
Did VEEV Beat Earnings? Q1 2026 Results
Veeva Systems delivered what CEO Peter Gassner called the company's "best first quarter ever," posting fiscal Q1 2026 results that cleared Wall Street expectations on every meaningful line. Non-GAAP diluted EPS came in at $1.97, beating the $1.74 con… Read more Veeva Systems delivered what CEO Peter Gassner called the company's "best first quarter ever," posting fiscal Q1 2026 results that cleared Wall Street expectations on every meaningful line. Non-GAAP diluted EPS came in at $1.97, beating the $1.74 consensus estimate by 12.98%, while revenue of $759.04 million topped forecasts by 4.22% and grew 16.7% year over year, powered primarily by a 19% surge in subscription services to $634.77 million as Vault CRM migrations accelerated, with more than 80 customers now live on the platform. GAAP operating margin expanded sharply to 30.8% from 23.9% a year ago, underscoring the profitability leverage embedded in Veeva's model as its commercial and R&D solutions scale together. Management raised full-year fiscal 2026 guidance to revenues of $3.09–$3.10 billion and non-GAAP EPS of approximately $7.63, while also previewing Veeva AI, a broad initiative embedding AI agents across its platform, with a first release targeted for December 2025, signaling that the company's growth runway extends well beyond its recently eclipsed $3 billion revenue run-rate milestone.
Key Takeaways
- • Subscription services revenue growth of 19% year over year driven by both Commercial and R&D Solutions
- • Strong execution across all areas with results ahead of guidance on all metrics
- • Vault CRM adoption accelerating with more than 80 customers live
- • Non-GAAP operating margin expansion to 46.1% from 40.1% year over year
VEEV YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
VEEV Revenue by Segment
With YoY comparisons, source: SEC Filings
“I consider this our best first quarter ever. We executed with speed, quality, and innovation across all areas on short-term objectives and long-term initiatives aligned to our values and 2030 goals.”
— Peter Gassner, Q1 2026 Earnings Press Release
VEEV Earnings Trends
VEEV vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VEEV EPS Trend
Earnings per share: estimate vs actual
VEEV Revenue Trend
Quarterly revenue: estimate vs actual
VEEV Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 27 BEAT | $2.14 | $2.24 | +4.91% | $882.9M | +2.94% |
| Q4 26 BEAT FY | $1.94 | $2.06 | +6.45% | $836.0M | +3.08% |
| FY Full Year | $7.94 | $8.10 | +2.02% | $3.20B | +0.76% |
| Q3 26 BEAT | $1.95 | $2.04 | +4.55% | $811.2M | +2.35% |
| Q2 26 BEAT | $1.90 | $1.99 | +4.73% | $789.1M | +2.65% |
| Q1 26 BEAT | $1.74 | $1.97 | +12.98% | $759.0M | +4.22% |
| Q4 25 BEAT FY | $1.58 | $1.74 | +10.05% | $720.9M | +3.07% |
| FY Full Year | $6.45 | $6.60 | +2.29% | $2.75B | +0.82% |