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Veeva Systems

Veeva Systems (VEEV) Q3 2026 Earnings

Reported Nov 20, 2025 at 4:04 PM ET · SEC Source

Q3 26 EPS

$2.04

BEAT +4.55%

Est. $1.95

Q3 26 Revenue

$811.2M

BEAT +2.35%

Est. $792.6M

vs S&P Since Q3 26

-39.1%

TRAILING MARKET

VEEV -24.6% vs S&P +14.6%

Market Reaction

Did VEEV Beat Earnings? Q3 2026 Results

Veeva Systems posted a clean beat across the board in fiscal Q3 2026, reporting non-GAAP diluted EPS of $2.04 against a consensus estimate of $1.95, a 4.55% beat, while revenue of $811.24 million topped expectations by 2.35% and grew 16% year over ye… Read more Veeva Systems posted a clean beat across the board in fiscal Q3 2026, reporting non-GAAP diluted EPS of $2.04 against a consensus estimate of $1.95, a 4.55% beat, while revenue of $811.24 million topped expectations by 2.35% and grew 16% year over year. The primary engine behind the quarter was subscription services, which climbed 17% to $682.50 million, with particular strength in both the Commercial and R&D Solutions segments as three top-20 biopharmas designated Veeva Development Cloud applications as their enterprise standard during the period. Non-GAAP operating margin expanded to 45.0% from 43.5% a year ago, reflecting disciplined cost management even as R&D spending increased to support the company's Veeva AI initiative, early AI agents for CRM and commercial content are on track for December release. Management raised full-year fiscal 2026 revenue guidance to approximately $3.17 billion and non-GAAP EPS to $7.93, keeping the company's longer-term $6 billion revenue run-rate target for 2030 firmly in view. Notably, free cash flow of $1.4 billion significantly exceeded statutory profit, suggesting the underlying earnings quality is stronger than headline figures alone imply.

Key Takeaways

  • • Subscription services revenue growth of 17% year over year driven by both Commercial and R&D Solutions
  • • Vault CRM momentum with 23 new customer additions and 115 total customers live
  • • Development Cloud enterprise standard wins at three top 20 biopharmas
  • • Non-GAAP operating margin expansion to 45.0% from 43.5% year over year
  • • Broad-based strength across the business leading to raised full-year guidance
24/7 Wall St

VEEV YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

24/7 Wall St

VEEV Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q1 27

“Continuing to lead through innovation, Veeva AI delivers on our vision for industry-specific AI that will help the life sciences industry reach new levels of productivity and customer centricity.”

— Peter Gassner, Q3 2026 Earnings Press Release

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