Veeva Systems Inc. - VEEV STOCK NEWS

Veeva Systems (NYSE: VEEV) has announced the latest release of Vault CRM Suite, featuring the new Vault CRM Campaign Manager. This integrated solution connects sales, marketing, and medical teams on a unified platform, enabling streamlined customer engagement. The system operates from a single database with shared data and content, facilitating coordinated multichannel campaigns.

Over 30 companies are currently using Vault CRM, with seven migrations from Veeva CRM scheduled for completion this month. A major global top 20 biopharma company plans to migrate more than 15,000 users to Vault CRM by the end of 2025. The suite includes Vault CRM Service Center for inside sales and contact center operations, released in August.

Veeva Systems (NYSE: VEEV) has announced its participation in the upcoming Raymond James 2024 TMT and Consumer Conference in New York. Brian Van Wagener, CFO, and Paul Shawah, EVP Strategy, will deliver a presentation on Wednesday, December 11, 2024, at 10:40 a.m. Eastern Time.

The presentation will be accessible via webcast, with both live and archived versions available on Veeva's investor relations website at https://ir.veeva.com.

Veeva Systems reported strong fiscal 2025 third quarter results with total revenues of $699.2 million, up 13% year over year, and subscription services revenues of $580.9 million, up 17% year over year. The company's operating income increased 41% to $181.4 million, while non-GAAP operating income rose 30% to $304.0 million.

Net income grew 37% to $185.8 million, with fully diluted earnings per share of $1.13. The company achieved significant milestones in its CRM business, with over 30 customers now using Vault CRM and seven migrations on track for completion. Veeva's Quality Suite applications reached over 600 customers. The company provided Q4 guidance with expected revenues between $696-699 million and updated FY2025 total revenue guidance to $2,722-2,725 million.

Veeva Systems released findings from their 2024 MedTech Commercial Benchmark survey, revealing that nearly 70% of medtech organizations still use manual processes for managing commercial content and claims. Only 15% of organizations have streamlined processes with centralized data repositories. The survey of over 130 commercial medtech leaders highlighted that 80% are pursuing content personalization strategies, while 40% lack Digital Asset Management systems. 60% of companies using manual processes experience approval times exceeding four weeks, with assets requiring 3-5 review rounds. Additionally, 45% of organizations view content creation as AI's most significant potential contribution.

Veeva Systems announced two new GenAI capabilities for Vault CRM: CRM Bot and Voice Control. CRM Bot integrates large language models into Vault CRM for tasks like pre-call planning, suggested actions, and recommended content. Voice Control enables hands-free CRM operation through Apple Intelligence. Both features are planned for late 2025 release and will be included in Vault CRM at no additional charge. These innovations are part of Veeva's broader AI strategy, which includes the Vault Direct Data API and Veeva AI Partner Program to facilitate AI integration in life sciences.

Veeva Systems (NYSE: VEEV) has launched a new cloud-based digital Hazard Analysis and Critical Control Point (HACCP) solution as part of its QualityOne Suite. The solution aims to help food and beverage manufacturers streamline food safety processes and improve risk management. Features include global visibility, standardization of HACCP plans, integrated flow diagrams, automatic change notifications, and task reminders. Nestlé, as an early adopter, will implement the solution across its 2,000+ brands in 188 countries to enhance proactive quality management and food safety operations.

Veeva Systems (NYSE: VEEV) has scheduled its fiscal 2025 third quarter financial results announcement for December 5, 2024, after market close. The company will host a conference call and webcast at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results for the quarter ended October 31, 2024. Prepared remarks will be posted to the investor relations website at approximately 1:05 p.m. PT, and a webcast replay will be available following the live event.

Boehringer Ingelheim, a top 20 global biopharma company, has committed to implementing Veeva Vault CRM (NYSE: VEEV) as its commercial foundation. The company aims to launch up to 25 new treatments by 2030 and plans to expand on its existing Veeva Commercial Cloud solutions, One Medicine, and Amplify platforms. This decision builds upon their long-standing partnership where Veeva has served as their global CRM standard. The implementation is expected to help transform commercial operations, accelerate launch processes, and enable personalized customer engagement.

Veeva Systems' latest Pulse Field Trends Report reveals critical insights about healthcare professional (HCP) engagement in the biopharma industry. The report highlights that while in-person meetings with HCPs have declined by 7% compared to last year, synchronized engagement between sales and marketing can significantly improve outcomes. Currently, 65% of HCP engagements remain unsynchronized.

The data shows that coordinated approaches yield better results: rep meetings followed by digital exposure within 10 days are 30% more likely to result in prescriptions, digital ads after speaker programs increase prescription likelihood by 25%, and HCP website visits following rep meetings boost prescription probability by 60%.