By Kelly Cloonan

Veeva Systems logged higher profit and revenue in its latest quarter, boosted by growth in its subscription business.

The provider of cloud solutions for life sciences businesses on Wednesday posted a profit of $260.9 million, or $1.57 a share, compared with $228.2 million, or $1.37 a share, a year earlier.

Adjusted earnings per share were $2.24, compared with estimates of $2.14 a share according to analysts polled by FactSet.

Revenue climbed 16% to $882.9 million, compared with analyst estimates of $857.7 million.

Subscription revenue, which makes up the bulk of the company's top line, rose to $730.2 million from $634.8 million. Revenue from professional services and other sources rose to $152.8 million from $124.3 million.

Chief Executive Peter Gassner said Veeva is moving from an industry-specific application company to an industry-specific application and artificial intelligence agent company, a move intended to boost efficiency for its clients.

"This is a major transformation for Veeva and the industry that will help our customers bring the right medicines to patients faster," Gassner said.

For the current quarter, Veeva expects revenue of $902 million to $905 million and adjusted earnings per share between $2.21 and $2.22. Analysts project revenue of $887.7 million and adjusted per-share earnings of $2.18.

For the fiscal year, Veeva now forecasts revenue of about $3.64 billion to $3.65 billion, up from its prior projection of $3.59 billion to $3.6 billion. It now expects adjusted per-share earnings of about $9.05, up from $8.85 previously.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

June 03, 2026 16:18 ET (20:18 GMT)

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