VEEVA SYSTEMS INC (VEEV) [Rocket]

In millions, except per share items	Jan-31-23	Jan-31-22	Jan-31-21	Jan-31-20	Jan-31-19	Jan-31-18	Jan-31-17	Jan-31-16
	8-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Revenues:
R&D Solutions		607.5	434.6	302.7
Commercial Solutions		876.5	744.9	593.6
Middle East, Africa, and Latin America		51.9	42.2	35.1	28.3
Total subscription services		1,484.0	1,179.5	896.3	694.5	559.4
Other					139.5	131.1
Total revenues [+]	2,155.1	1,850.8	1,465.1	1,104.1	862.2	690.6	-1.0	409.2
Services	422.1
Subscription								316.3
Technology services								92.9
Revenue growth [+]	16.4%	26.3%	32.7%	28.1%	24.9%	-68539.9%	-100.2%	30.6%
R&D Solutions		39.8%	43.6%
Commercial Solutions		17.7%	25.5%
Middle East, Africa, and Latin America		22.9%	20.3%	24.1%
Total subscription services		25.8%	31.6%	29.1%	24.1%
Veeva Commercial Cloud					10.8%
Cost of goods sold [+]	609.4	503.7	408.9	303.4	245.3	211.4	-173.7	142.2
Cost of services	402.1
Cost of technology services								71.0
Cost of subscriptions								71.2
Gross profit	1,545.7	1,347.1	1,056.1	800.7	616.9	479.1	172.7	267.0
Gross margin	71.7%	72.8%	72.1%	72.5%	71.6%	69.4%	-17113.2%	65.2%
Selling, general and administrative [+]	720.0	459.6	384.1	304.6	235.3	189.2	159.4	122.4
Sales and marketing	436.2	288.1	235.0	190.3	148.9	128.8	110.6	81.0
General and administrative	283.8	171.5	149.1	114.3	86.4	60.4	48.8	41.5
Research and development	661.8	382.0	294.2	209.9	158.8	132.0	96.7	66.0
Other operating expenses	-295.3						-204.2
EBITDA [+]	488.2	532.9	407.2	306.1	236.9	172.2	134.5	87.1
EBITDA growth	-8.4%	30.9%	33.1%	29.2%	37.6%	28.0%	54.5%	17.8%
EBITDA margin	22.7%	28.8%	27.8%	27.7%	27.5%	24.9%	-13331.3%	21.3%
Depreciation	29.1	8.4	9.5	9.9	7.1	6.5	5.6	4.2
EBITA	459.1	524.5	397.8	296.2	229.9	165.7	128.9	82.9
EBITA margin	21.3%	28.3%	27.2%	26.8%	26.7%	24.0%	-12773.8%	20.3%
Amortization of intangibles		19.0	20.0	10.0	7.0	7.8	8.2	4.3
EBIT [+]	459.1	505.5	377.8	286.2	222.9	157.9	120.7	78.6
EBIT growth	-9.2%	33.8%	32.0%	28.4%	41.1%	30.9%	53.6%	12.3%
EBIT margin	21.3%	27.3%	25.8%	25.9%	25.8%	22.9%	-11961.1%	19.2%
Other income (expense), net [+]	50.0	6.8	16.2	27.5	15.8	7.8	1.7	0.0
Other		6.8	16.2	27.5	15.8	7.8	1.7	0.0
Pre-tax income	509.1	512.3	394.0	313.7	238.6	165.8	122.4	78.6
Income taxes	21.4	84.9	14.0	12.6	8.8	14.6	44.8	24.2
Tax rate	4.2%	16.6%	3.6%	4.0%	3.7%	8.8%	36.6%	30.7%
Net income	487.7	427.4	380.0	301.1	229.8	151.2	77.6	54.5
Net margin	22.6%	23.1%	25.9%	27.3%	26.7%	21.9%	-7688.0%	13.3%

Basic EPS [+]	$3.14	$2.79	$2.52	$2.04	$1.59	$1.08	$0.57	$0.41
Growth	12.5%	10.6%	23.8%	27.9%	47.9%	88.5%	38.6%	30.5%
Diluted EPS [+]	$3.00	$2.63	$2.36	$1.90	$1.47	$0.98	$0.53	$0.38
Growth	14.0%	11.4%	24.3%	29.2%	49.7%	87.1%	39.9%	34.1%

Shares outstanding (basic) [+]	155.4	153.3	150.7	147.8	144.2	140.3	135.7	132.0
Growth	1.4%	1.7%	1.9%	2.5%	2.8%	3.4%	2.8%	3.4%
Shares outstanding (diluted) [+]	162.4	162.3	160.7	158.3	156.1	153.7	147.6	145.0
Growth	0.1%	1.0%	1.5%	1.4%	1.6%	4.1%	1.8%	0.5%

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.