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Veeva FOR IMMEDIATE RELEASE PLEASANTON , CA - May 27 , 2021 - Veeva Systems Inc. ( NYSE : VEEV ) , a leading provider of industry cloud solutions for the global life sciences industry , today announced results for its first quarter ended April 30 , 2021 . " The team's focus on customer success and product excellence continues to drive Veeva's outstanding results , " said CEO Peter Gassner . " Our innovations in data , software , and services are helping the industry move to a new digital - first model . " Fiscal 2022 First Quarter Results : ● Veeva Announces Fiscal 2022 First Quarter Results Total Revenues of $ 433.6M , up 29 % Year Over Year ; Subscription Services Revenues of $ 341.1M , up 26 % Year Over Year ● ● Revenues : Total revenues for the first quarter were $ 433.6 million , up from $ 337.1 million one year ago , an increase of 29 % year over year . Subscription services revenues for the first quarter were $ 341.1 million , up from $ 270.2 million one year ago , an increase of 26 % year over year . Operating Income and Non - GAAP Operating Income ( 1¹ ) : First quarter operating income was $ 128.4 million , compared to $ 87.6 million one year ago , an increase of 47 % year over year . Non - GAAP operating income for the first quarter was $ 181.4 million , compared to $ 129.7 million one year ago , an increase of 40 % year over year . Net Income and Non - GAAP Net Income ( ¹ ) : First quarter net income was $ 115.6 million , compared to $ 86.6 million one year ago , an increase of 33 % year over year . Non - GAAP net income for the first quarter was $ 146.9 million , compared to $ 105.2 million one year ago , an increase of 40 % year over year . Net Income per Share and Non - GAAP Net Income per Share ( ¹ ) : For the first quarter , fully diluted net income per share was $ 0.71 , compared to $ 0.54 one year ago , while non - GAAP fully diluted net income per share was $ 0.91 , compared to $ 0.66 one year ago . " It was an outstanding start to the year , " said CFO Brent Bowman . " We are building a durable position across both R & D and commercial , which reflects our role as a strategic technology provider to the industry . " Recent Highlights : New and Existing Customer Relationships Drive Strong Growth - The company added a record 59 new customers in the first quarter , bringing total customer count to more than 1,000 . Q1 was an outstanding bookings quarter fueled by strong results in Veeva Vault and Veeva Commercial Cloud . Demand remains robust as customers increasingly partner with Veeva to modernize their technology infrastructure and move to a digital first model . Record New Customer Additions for Vault Quality - Vault Quality had an outstanding quarter which included record bookings for Veeva Vault Quality Suite and significant wins in Veeva Vault Quality Docs , Vault QMS , and Vault Training . Among these was Veeva's sixth Vault QMS win with a top 20 pharmaceutical company , which is their first Veeva Development Cloud application . © 2021 Veeva Systems Inc. All rights reserved . Veeva , V , Vault and Crossix are registered trademarks of Veeva Systems Inc. veeva.com 1