Veeva Systems Inc - Class A

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.