Veeva Systems Inc. Class A

Good afternoon, ladies and gentlemen, and welcome to the Viva Systems Fiscal 2022 Fourth Quarter and Full Year Earnings Call. Just a quick reminder, today's call is being recorded, and at the end of today's prepared remarks, we will have a question and answer session. Now at this time, I'd like to return the call over to Addo Garrett, Senior Director of Investor Relations. Please go ahead.

Good afternoon and welcome to Viva's fiscal 2022 fourth quarter and full year earnings conference call for the quarter and year ended January 31st, 2022. As a reminder, we posted prepared remarks on Viva's investor relations website just after 1 p.m. Pacific today. We hope you've had a chance to read them before the call. Today's call will be used primarily for Q&A. With me today for Q&A are Peter Gassner, our Chief Executive Officer, Paul Schella, EVP Commercial Strategy, and Brent Bowman, our Chief Financial Officer. During this call, we may make forward-looking statements regarding trends, our strategies, and the anticipated performance of the business, including guidance regarding future financial results. These forward-looking statements will be based on our current views and expectations and are subject to various risks and uncertainties. Our actual results may differ materially. Please refer to the risks listed in our earnings release and the risk factors included in our most recent filing on Form 10-Q. Forward-looking statements made during the call are being made as of today, March 2, 2022, based on the facts available to us today. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information. VISA disclaims any obligation to update or revise any forward-looking statements. We may discuss our guidance on today's call, but we will not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum. On the call, we may also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. Our reconciliation to comparable GAAP metrics can be found in today's earnings release and in the supplemental investor presentation, both of which are available on our website. With that, thank you for joining us, and I'll turn the call over to Peter.

Thank you, Atto, and welcome, everyone, to the call. It was a great quarter and a year of execution for Viva, with strength across the business and results above our guidance. Total revenue and subscription revenue for the quarter were each up 23%, and we posted a 38% operating margin. Total revenue for the year was up 26% to $1.85 billion, and our operating margin was 41%. We also continued to track ahead of our 2025 targets. Things are going well. We have a great team and are attracting new people who believe in our values and want to be part of our mission. And our partnership with the industry continues to become more strategic. Our innovation engine is strong, and we're executing well in established areas and newer areas. This sets Veeva up for a long runway of organic growth and profitability as we deliver more value to the industry. And we'll now open up the call to your questions.