Subscribe to Pro or Enterprise plans to unlock this feature.
Become a smarter investor today.
Become a smarter investor today.
This chart shows Veeva Systems’ Subscription Revenue Breakdown, across Commercial Solutions, R&D Solutions, Veeva Commercial Cloud and Veeva Vault, reported on a quarterly basis from Q1 2019 onwards.
The company earlier grouped its revenue into two areas of products, namely Commercial Cloud and Vault. However, post-October 31, 2021, product areas were modified into Commercial Solutions and R&D Solutions to have a better alignment with Veeva’s business management and reflect the principal functions served by their products.
As mentioned earlier, the company has undergone a change in its category breakdown. In Q3 2022 & Q4 2022, the company bifurcated their revenue breakdown under two categories-Commercial and R&D Solutions, which attributed to the revenue total. In Q4 2022, the total revenue earned was $395.7 million. Q3 2022’s revenue of $380.7 million grew by 3.94% on a quarter-on-quarter basis, rising to $395.7 million in Q4 2022. Q4 2021 had different revenue categories, thus, the revenue total was derived from Veeva Commercial Cloud and Vault, which amounted to a total of $322.8 million in the said quarter. On a year-on-year basis, the total revenue of the company grew from $322.8 million in Q4 2021 to $395.7 million in Q4 2022, making a rise of 22.58%. The year-0n-year revenue comparison for the different cannot be done owing to the different revenue segments for both quarters’ ends.
Veeva Systems’ total subscription revenue can be further bifurcated into the following segments:
|Segment||Q4 2021||Q3 2022||Q4 2022||Contribution in Q4 2022|
|Veeva Commercial Cloud (Deprecated)||$159.376||$0.0||$0.0||0%|
|Veeva Vault (Deprecated)||$163.4||$0.0||$0.0||0%|
(All figures are in millions, except percentages)
Commercial Solutions’ category comprises of cloud software, data, as well as analytics products that are particularly built for commercializing their customers’ products more efficiently and effectively. Particularly, revenues that can be attributed to Vault MedComms, VaultPromoMats, and applications used for commercial operations are presently reflected in the category of Commercial Solutions.
This category is the greater of the two in terms of revenue contribution. It had contributed 57.45% of the revenue total in the latest quarter of 2022, which amounted to $227.3 million. The contribution in Q3 2022 was $223.2 million, which comprised 59% of the respective total. This implies that though the revenue amount grew in the latest quarter, the revenue contribution i.e. revenue mix was higher in Q3 2022. The quarter-on-quarter growth in revenue from $223.3 million in Q3 2022 to $227.3 million in Q4 2022 stood at 1.84%.
The R&D Solutions category includes quality, safety, clinical, and regulatory products. In the latest quarter of 2022, this category contributed 42.55% to the quarterly total, which amounted to $168.4 million. Q3 2022’s revenue contribution from R&D Solutions was $157.6 million which was 41% of the total. This marked a quarter-on-quarter growth of 6.85% from the third to the fourth quarter of 2022.
Veeva Commercial Cloud & Veeva Vault (deprecated)
Before Q3 2022, Veeva Commercial Cloud and Vault were the two categories under which revenue contributions were categorized. Veeva Commercial Cloud recorded a contribution of $159.376 million and Veeva Vault’s contribution was $163.4 million in Q4 2021.
The company was founded in 2007 by Peter Gassner. Veeva Systems, headquartered in Pleasanton, California, is one of the leading providers of industry cloud solutions for the global life sciences industry. The company was founded on the premise that industry-specific cloud solutions must address the challenges of operating and regulatory requirements of life sciences companies in the best manner. Veeva’s offerings comprise of cloud softwares, professional services, data, analytics, and business consultations, which are all designed to meet their customer needs and their strategic business functions. Veeva is listed on the NYSE under the ticker symbol ‘VEEV’.
Did you like Veeva Systems’ Subscription Revenue Breakdown statistic?
Access more such KPI data points and segment financials on thousands of US stocks, with Business Quant.
You can get started here.
Always know what you’ll pay. No hidden costs or surprises.
* Billed annually, local taxes extra.
* Local taxes extra.