Veeva Systems (VEEV) Q3 2026 Earnings
How Did VEEV Stock React to Q3 2026 Earnings?
S&P 500 over the same 30 days: +4.76%.
Did VEEV Beat Earnings? Q3 2026 Results
Yes. Veeva Systems reported Q3 2026 earnings of $2.04 a share on Nov 20, 2025, beating the $1.95 consensus estimate by 4.5%. Revenue was $811.2M against a $792.6M estimate.
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.
- 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
“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.”
Veeva Systems CEO, on the earnings call
What Was Veeva Systems's Outlook in Q3 2026?
For fiscal Q4 2026 (ending January 31, 2026), Veeva guided total revenues of $807–$810 million, non-GAAP operating income of approximately $350 million, and non-GAAP fully diluted net income per share of approximately $1.92. For full fiscal year 2026, guidance was raised to total revenues of $3,166–$3,169 million, non-GAAP operating income of approximately $1,417 million, and non-GAAP fully diluted net income per share of approximately $7.93. The company reaffirmed its 2030 target of a $6 billion revenue run rate.
VEEV YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $811.2M | $699.2M | +16.0% |
| Gross Profit | $611.8M | $524.8M | +16.6% |
| Operating Income | $240.9M | $181.4M | +32.8% |
| Net Income | $236.2M | $185.8M | +27.1% |
VEEV Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.