Veeva Systems Inc Income Statement - Real Clear Investing

Selected Quarter:

31-Jan
2021

Gross receipts in the form of cash (great!) and promises to pay (Account Receivables - not so great as some of them will never be collected but reality of business!) from all its customers

100%

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Subscription revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	198,115	217,312	226,760	254,107	270,235	283,502	302,938	322,811	1,179,486	1,291,244
Professional services revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	46,637	49,588	54,161	57,401	66,871	70,181	74,581	73,950	285,583	295,800
Total Revenue	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$244,752	$266,900	$280,921	$311,508	$337,106	$353,683	$377,519	$396,761	$1,465,069	$1,587,044

Selected Quarter:

31-Jan
2021

Cost (labor, materials, depreciation, overhead, etc) for delivering service or manufacturing a product that business sells

75.1%

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Cost of subscription revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	30,378	31,480	31,964	42,506	43,212	43,400	45,845	52,132	184,589	208,528
Cost of professional services and other	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	35,125	38,738	41,365	51,813	51,668	53,804	57,152	61,715	224,339	246,860
Total cost of revenue	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	$65,503	$70,218	$73,329	$94,319	$94,880	$97,204	$102,997	$113,847	$408,928	$455,388
Gross profit	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	179,249	196,682	207,592	217,189	242,226	256,479	274,522	282,914	1,056,141	1,131,656
Sales and marketing	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	39,617	45,821	45,524	59,369	55,755	59,172	57,982	62,105	235,014	248,420
Research and development	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	44,973	51,146	52,575	61,201	62,237	70,053	79,992	81,938	294,220	327,752
General and administrative	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	23,490	25,859	28,693	36,225	36,669	37,173	35,243	40,028	149,113	160,112
Total operating expenses	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	$108,080	$122,826	$126,792	$156,795	$154,661	$166,398	$173,217	$184,071	$678,347	$736,284

Selected Quarter:

31-Jan
2021

Income after excluding Operating Expenses from Total Revenue

24.9%

Key metric that shows earnings potential of the company's business model

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Operating income	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$71,169	$73,856	$80,800	$60,394	$87,565	$90,081	$101,305	$98,843	$377,794	$395,372

Selected Quarter:

31-Jan
2021

Cost usually unrelated to delivering service or manufacturing a product that business sells

1.6%

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter:	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Other expense or income	45,679	45,679	-	45,679	-	-	-	45,679	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income	-	-	45,679	-	45,679	45,679	45,679	-	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	6,161	7,332	9,141	4,844	3,414	2,881	3,455	6,449	16,199	25,796
Total non-operating income (expense)	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	6,161	7,332	9,141	4,844	3,414	2,881	3,455	6,449	16,199	25,796

Selected Quarter:

31-Jan
2021

Income after excluding Operating and Non-operating Expenses from Total Revenue

26.5%

Another income metric but unlike Operating Income it is closer to the ultimate income metric - Net Income by removing expenses that are not related to earning Revenue as they are supposed to be accidental and transitory

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
EBIT	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$77,330	$81,188	$89,941	$65,238	$90,979	$92,962	$104,760	$105,292	$393,993	$421,168

Selected Quarter:

31-Jan
2021

Expenses driven mostly by company management's choices, nature of business (capital intensive vs not) about financing (debt vs equity) and legal structure

0.6%

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Income before income taxes	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	77,330	81,188	89,941	65,238	90,979	92,962	104,760	105,292	393,993	421,168
Income tax expense or benefit	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	3,881	1,946	7,696	(944)	4,409	(589)	7,801	2,374	13,995	9,496

Selected Quarter:

31-Jan
2021

Ultimate measure of Income - Net result after excluding all expenses from Total Revenue

25.9%

It is a residue that is left from Total Revenue after paying all kind of expenses and belongs to all equity holders in the company. Some of these shareholders such Non-controlling interest or Preferred equity gets their share before Common shareholders

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Net income (loss)	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$45,679	$73,449	$79,242	$82,245	$66,182	$86,570	$93,551	$96,959	$102,918	$379,998	$411,672
Net income (loss) attributable to Class A and B common stock Net income (loss) attributable to Class A and B common stock	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	45,679	-	45,679	45,679	-	-	73,449	79,242	-	-	-	-	-	-	-	-

Basic shares outstanding as of certain dates reported by Company on its annual and quarterly filings, these numbers are NOT used calculation of basic EPS. They help to see share issuance by company in perspective

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 27-Nov	2016 31-Jan	2016 27-May	2016 26-Aug	2016 25-Nov	2017 31-Jan	2017 31-May	2017 31-Aug	2017 30-Nov	2018 31-Jan	2018 31-May	2018 31-Aug	2018 30-Nov	2019 31-Jan	2019 31-May	2019 31-Aug	2019 30-Nov	2020 31-Jan	2020 31-May	2020 31-Aug	2020 30-Nov	2021 28-Feb	2021 28-Feb	2021 28-Feb
Class A	-	-	-	-	45,678,795	-	45,678,795	45,678,795	45,678,795	-	45,678,795	45,678,795	45,678,795	-	45,678,795	45,678,795	45,678,795	-	130,074,233	131,555,292	132,212,846	-	134,987,963	135,725,461	136,371,936	137,447,441	137,447,441	137,447,441
Class B	-	-	-	-	45,678,795	-	45,678,795	45,678,795	45,678,795	-	45,678,795	45,678,795	45,678,795	-	45,678,795	45,678,795	45,678,795	-	17,191,374	16,429,631	16,373,842	-	15,158,728	15,100,951	15,093,651	14,776,223	14,776,223	14,776,223

Selected Quarter:

31-Jan
2021

Net Income / Shares Outstanding = EPS before dilution or Basic EPS; Net Income/ ( Shares Outstanding + potentially available shares from conversion of various option instruments)

	2014 31-Oct	2015 31-Jan	2015 30-Apr	2015 31-Jul	2015 31-Oct	2016 31-Jan	2016 30-Apr	2016 31-Jul	2016 31-Oct	2017 31-Jan	2017 30-Apr	2017 31-Jul	2017 31-Oct	2018 31-Jan	2018 30-Apr	2018 31-Jul	2018 31-Oct	2019 31-Jan	2019 30-Apr	2019 31-Jul	2019 31-Oct	2020 31-Jan	2020 30-Apr	2020 31-Jul	2020 31-Oct	Selected Quarter: 2021 31-Jan	Last Twelve Months LTM 2021 31-Jan	Last Quarter Annualized LQA 2021 31-Jan
Net Income per basic share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	$45,678,795.00	$45,678,795.00	$0.50	$0.54	$0.56	$0.45	$0.58	$0.62	$0.64	$0.68	$2.52	$2.72
Net Income per diluted share	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$0.47	$0.50	$0.52	$0.41	$0.54	$0.58	$0.60	$0.63	$2.36	$2.52
Net Income per basic share - Class A	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	$45,678,795.00	-	$45,678,795.00	$45,678,795.00	-	-	$0.50	$0.54	-	-	-	-	-	-	-	-

Veeva Systems Inc

Short Description

Income Statement

Subscription revenue

Professional services revenue

Research and development

Sales and marketing

Cost of professional services and other

Cost of subscription revenue

General and administrative

Operating Income

Other income

EBIT

Income tax expense or benefit

Net income (loss)