Veeva Systems (VEEV) Revenue — Quarter Ended Apr 30, 2023
Revenue for the quarter declined sequentially but rose compared to the same period a year earlier. The sequential decrease followed a period of steady growth in prior quarters.
Key takeaway
Quarter ended Apr 30, 2023 · FY2024 Q1
Revenue for the quarter declined sequentially but rose compared to the same period a year earlier. The sequential decrease followed a period of steady growth in prior quarters.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$526.3M
Revenue reported for this quarter.
Quarter-over-quarter
-6.6%
Change from the immediately preceding quarter.
Year-over-year
+4.2%
Change from the comparable year-ago quarter.
Trailing four quarters
$2.2B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Jul 31, 2022 | $534.2M | +51.0% |
| Oct 31, 2022 | $552.4M | +46.3% |
| Jan 31, 2023 | $563.4M | +16.0% |
| Apr 30, 2023 | $526.3M | +4.2% |
Revenue performance
The reported revenue direction was downward from the immediately preceding quarter, while still showing an increase over the same quarter one year ago.
Quarterly comparison
Compared to the prior quarter, revenue was lower. Compared to the same quarter last year, revenue was higher.
What to watch
The year-over-year growth rate has slowed over the last four quarters, from a much higher rate to a modest increase.