SK Life Science, Inc. uses modern cloud solution to accelerate validation processes for increased inspection readiness BARCELONA, Spain, Jan. 11, 2024 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced that SK Life Science, Inc., a subsidiary of SK Biopharmaceuticals Co. Ltd., a global biotech company, is using Veeva Vault Validation Management to streamline and accelerate their validation process. By adopting a validation solution with built-in best practices, the company can execute digital valida ...

PLEASANTON, Calif., Jan. 8, 2024 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced that Peter Gassner, founder and CEO, will present at the 42nd Annual J.P. Morgan Healthcare Conference on Wednesday, January 10, 2024, at 2:15 p.m. PT in San Francisco.The presentation will be webcast. Links to the live and archived webcast will be available on Veeva's investor relations website at https://ir.veeva.com.About Veeva SystemsVeeva is the global leader in cloud software for the life sciences industry. Com ...

Financial Data and Key Metrics - Total revenue for Q3 2024 was $617 million, with GAAP operating income of $235 million, both ahead of guidance [8] - The company trimmed billings by $40 million, with half related to services, and the rest split between higher mix of quarterly billers and timing of deals [16][17] Business Line Data and Key Metrics - The commercial segment saw strong growth, driven by established products like commercial content and newer products like Link and Crossix [26][27] - Data products, particularly Compass, showed strong momentum with new customer acquisitions and expansions, validating the company's strategy [29][30] Market Data and Key Metrics - The company is seeing strong momentum in Europe, with over 1,000 attendees at the European Commercial Summit, and key customers like Bayer and GSK committing to Vault CRM [72][90] - The clinical data market is moving slower due to conservatism and competitive behavior, but the company is making progress, especially with smaller companies [86][87] Company Strategy and Industry Competition - The company is focused on product excellence and customer success, aiming to become an essential strategic partner in the life sciences industry [8] - Veeva is building a modern data platform with Compass, aiming to be the standard data provider for large pharma companies, with new products like Prescriber and National launching next year [30][34] - The company is leveraging its strong position in both clinical and commercial solutions to drive integration and stickiness, particularly through a common data platform [55][56] Management Commentary on Operating Environment and Future Outlook - Management noted that macroeconomic factors like interest rates and global conflicts have led to more conservative decision-making, but the company is well-positioned due to its focus on core capabilities [60][61] - The company reiterated its fiscal year 2025 revenue target of $2.75 billion, with confidence in its ability to execute despite some deal timing shifts [25][68] Other Important Information - The company is working on automating migration processes for Vault CRM, with a focus on repeatability and scaling services to support customers globally [78][79] - Veeva is also focusing on modular content in the commercial space, bringing content closer to engagement channels through the Vault platform [104][105] Q&A Session Summary Question: What drove the decision-making process for Bayer and GSK to commit to Vault CRM? - The decision was driven by innovation and the desire for a future-proof solution, with both companies looking to avoid the complexities of multiple CRM implementations [11][12] Question: How should investors think about the correlation between subscription and services? - Services are not a leading indicator for subscription growth, as they are influenced by deal timing and customer-specific requirements [18][19] Question: What is the outlook for the commercial segment, particularly non-CRM products? - The commercial segment has seen upside due to strong performance from both established and newer products like Link and Crossix, with data products also contributing to growth [26][27] Question: How is the company managing the migration process for Vault CRM? - The company is focused on making the migration process repeatable and scalable, with dedicated teams and partnerships to support global customers [78][79] Question: What is the impact of macroeconomic factors on decision-making? - Macro factors have led to more conservative decision-making, but the company is seeing pent-up demand for modernization, particularly in top 100 life sciences companies [60][61] Question: How is the company approaching generative AI in clinical trials? - While generative AI is being explored for tasks like protocol writing, the company sees more value in having the right data and algorithms for clinical decision-making [114][115]

Financial Performance - Revenue increased by 15% year-over-year, driven by strong sales in the North American market [1]. - Net profit margin improved to 12%, up from 10% in the previous quarter [2]. - Operating expenses rose by 8%, primarily due to increased marketing and R&D investments [3]. Market Expansion - The company successfully entered the European market, with initial sales exceeding expectations [4]. - A new distribution center was opened in Asia to support growing demand in the region [5]. - Strategic partnerships were formed with local retailers to enhance market penetration [6]. Product Development - Launched three new products in the tech category, which received positive customer feedback [7]. - R&D investment increased by 20% to accelerate innovation and product differentiation [8]. - A new line of eco-friendly products is set to be released next quarter [9]. Operational Efficiency - Implemented a new inventory management system, reducing stockouts by 25% [10]. - Streamlined supply chain processes, resulting in a 10% reduction in logistics costs [11]. - Employee training programs were expanded to improve productivity and reduce turnover [12]. Customer Engagement - Customer satisfaction scores improved by 5% due to enhanced service quality [13]. - Launched a loyalty program that has already attracted 100,000 new members [14]. - Social media engagement increased by 30%, driven by targeted marketing campaigns [15]. Risk Management - Identified potential supply chain disruptions and developed contingency plans [16]. - Cybersecurity measures were strengthened to protect customer data [17]. - Compliance with new regulatory requirements was achieved ahead of schedule [18]. Sustainability Initiatives - Reduced carbon emissions by 15% through the adoption of renewable energy sources [19]. - Achieved a 20% reduction in water usage across manufacturing facilities [20]. - Committed to achieving net-zero emissions by 2030 [21].

Financial Performance - Total revenues for the three months ended July 31, 2023, were $590.2 million, a 10.5% increase from $534.2 million in the same period of 2022[18]. - Subscription services revenue reached $470.6 million, up 9.8% year-over-year from $428.6 million[18]. - Net income for the three months ended July 31, 2023, was $111.6 million, representing a 23.2% increase compared to $90.6 million in the prior year[18]. - Total revenues for the six months ended July 31, 2023, were $1,117 million, representing a year-over-year growth of 7% compared to $1,039 million in 2022[103]. - Subscription services revenues for the same period were $885 million, reflecting a year-over-year growth of 6% from $831 million in 2022[104]. - Net income for the six months ended July 31, 2023, was $243 million, up from $191 million in the same period of 2022[104]. - For the fiscal year ended January 31, 2023, total revenues reached $2,155 million, a 16% increase from $1,851 million in 2022[101]. - Subscription services revenues for the fiscal year ended January 31, 2023, were $1,733 million, marking a 17% growth from $1,484 million in 2022[101]. Expenses and Income - Operating income for the six months ended July 31, 2023, was $165.6 million, down 27.6% from $228.8 million in the same period of 2022[18]. - Research and development expenses increased to $157.2 million for the three months ended July 31, 2023, compared to $134.0 million in the same period of 2022, reflecting a 17.3% increase[18]. - Stock-based compensation expense for the six months ended July 31, 2023, was $195.843 million, an increase from $164.085 million in the prior year, reflecting a rise of 19.4%[21]. - Sales and marketing expenses for the six months ended July 31, 2023, increased by $20 million, driven by a $10 million increase in employee compensation-related costs[144]. - General and administrative expenses for the six months ended July 31, 2023, increased by $19 million, primarily due to a $16 million increase in employee compensation-related costs[148]. Assets and Equity - Total assets as of July 31, 2023, were $5.23 billion, an increase from $4.80 billion as of January 31, 2023[15]. - Total stockholders' equity increased to $4.15 billion as of July 31, 2023, compared to $3.72 billion as of January 31, 2023[15]. - The total additional paid-in capital increased to $1.729123 billion at the end of the period, up from $1.353502 billion a year earlier, representing a growth of 27.8%[21]. - The total number of shares outstanding increased from 154,196,597 to 160,622,618 over the six-month period, reflecting an increase of approximately 4.0%[21]. Cash Flow - Net cash provided by operating activities for the six months ended July 31, 2023, was $770,972, up 34.2% from $574,413 in the same period of 2022[24]. - Net cash used in investing activities was $916 million for the six months ended July 31, 2023, up from $563 million in the same period of 2022, showing a $354 million increase[176]. - As of July 31, 2023, the company had cash, cash equivalents, and short-term investments totaling $3.9 billion, with $69 million held outside the United States[165]. Shareholder Information - The weighted-average shares used to compute diluted net income per share were 163.3 million for the three months ended July 31, 2023, compared to 162.1 million in the prior year[18]. - The basic net income per share for Class A was $0.70 and for Class B was $0.70 for the three months ended July 31, 2023, compared to $0.58 for both classes in the same period of 2022, indicating a 20.7% increase[74]. - The diluted net income per share for Class A was $0.68 and for Class B was $0.68 for the three months ended July 31, 2023, compared to $0.56 for both classes in the same period of 2022, reflecting a 21.4% increase[74]. Legal Matters - The company is currently involved in litigation with IQVIA, alleging anticompetitive conduct and seeking monetary damages exceeding $200 million[75]. - The company believes that IQVIA's claims lack merit and that its counterclaims warrant injunctive relief and monetary damages[79]. - The trial for the Medidata litigation concluded in favor of the company, with the court granting a motion for judgment as a matter of law[87]. Market and Competition - The company faces significant competition in the cloud-based solutions market, particularly from IQVIA Holdings Inc., which offers a CRM application on the Salesforce platform[209]. - The competitive landscape includes major players such as Oracle, Microsoft, and smaller application providers, with increasing competition expected due to new technologies[211]. - The company announced plans to migrate its multichannel CRM applications from the Salesforce platform to its Veeva Vault platform, which may lead to customer attrition[212]. Future Outlook - The company expects the growth rate of total revenues and subscription services revenues for the fiscal year ending January 31, 2024, to decline compared to the prior fiscal year[101]. - Veeva's revenue growth rates are expected to accelerate in the fiscal year ending January 31, 2025, compared to the prior fiscal year[203].

Veeva Systems Inc. (NYSE:VEEV) Q2 2024 Earnings Conference Call August 30, 2023 5:00 PM ET Company Participants Gunnar Hansen - Investor Relations Peter Gassner - Chief Executive Officer Paul Shawah - Executive Vice President, Commercial Strategy Brent Bowman - Chief Financial Officer Conference Call Participants Joe Vruwink - Baird Ken Wong - Oppenheimer & Company Richard Poland - RBC Capital Markets Brian Peterson - Raymond James Dylan Becker - William Blair Ryan MacDonald - Needham & Company Tyler Radke ...

Safe Harbor and Other Information Statement Regarding Use of Non-GAAP Financial Measures Copyright © Veeva Systems 2023 3 | --- | --- | --- | --- | --- | --- | --- | |----------|-------|-------|-------|-------|-------------------------------------|-------| | | | | | | Subscription 29% 32% 26% 17% ~ 9% - | | | Services | 24% | 37% | 28% | 15% | ~ 13% | - | | Total | | | | | 28% 33% 26% 16% ~ 10% ~ 18% | | 429 442 460 415 471 ~ 493 106 111 103 112 120 121-123 534 552 563 526 590 614-616 $- $100 $200 $300 $400 ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-Q ____________________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 F ...

Veeva Systems Inc. (NYSE:VEEV) Q1 2024 Earnings Conference Call May 31, 2023 5:00 PM ET Company Participants Gunnar Hansen - Director of IR Peter Gassner - CEO Paul Shawah - EVP, Commercial Strategy Brent Bowman - CFO Conference Call Participants Joe Vruwink - Baird Ken Wong - Oppenheimer & Company Brian Peterson - Raymond James Richard Poland - RBC Capital Markets Dylan Becker - William Blair Craig Hettenbach - Morgan Stanley Hannah Rudoff - Piper Sandler Jack Wallace - Guggenheim Securities Jailendra Sing ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________ FORM 10-K ____________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the ...