Veeva Announces Share Repurchase Program

Core Viewpoint - Veeva Systems Inc. has announced a share repurchase program authorized to buy up to $2 billion of its Class A common stock, reflecting confidence in its long-term growth and financial strength [1][2]. Group 1: Share Repurchase Program - The share repurchase program allows Veeva to buy back shares through various means, including open market purchases and privately negotiated transactions, over a term of 2 years [2]. - The program does not obligate Veeva to acquire a specific number of shares and can be canceled or suspended at any time without notice [2]. Group 2: Financial Performance and Strategy - Veeva's multi-product business model, operational discipline, and focus on innovation and customer success have led to financial outperformance and strong cash generation [2]. - The company emphasizes its healthy balance sheet, which enables it to invest in future opportunities while returning capital to shareholders [2]. Group 3: Company Overview - Veeva Systems provides industry cloud solutions for life sciences, serving over 1,500 customers, including major pharmaceutical companies and emerging biotechs [3]. - As a Public Benefit Corporation, Veeva aims to balance the interests of all stakeholders, including customers, employees, and shareholders [3].