Welcome to our dedicated page for Veeva Systems news (Ticker: VEEV), a resource for investors and traders seeking the latest updates and insights on Veeva Systems stock.
Veeva Systems Inc. (NYSE: VEEV) is a global leader in cloud-based software solutions specifically tailored for the life sciences industry. Headquartered in the San Francisco Bay Area, Veeva Systems provides innovative technology that helps pharmaceutical and biotech companies streamline their operations, ensure compliance, and bring products to market faster. Veeva's product offerings address key operational and regulatory needs, ranging from customer relationship management (CRM) to content management and data analytics.
Two of the company's flagship products include Veeva CRM and Veeva Vault. Veeva CRM is designed for companies with a salesforce, providing tools to manage customer interactions more efficiently. Meanwhile, Veeva Vault is a versatile content management platform that supports various functions such as clinical trials, regulatory submissions, and quality management within life sciences companies.
Veeva serves a diverse customer base, ranging from emerging biotechs to some of the world's largest pharmaceutical companies. Its commitment to product excellence, customer success, and continuous innovation is evident as Veeva frequently updates its offerings to meet the evolving needs of the industry. Recently, Veeva announced that Boehringer Ingelheim has selected Veeva Vault Clinical and Veeva Vault RIM applications to streamline clinical execution and improve regulatory management in its animal health business unit.
Another notable achievement for Veeva was the launch of the Veeva AI Partner Program, designed to help partners integrate Generative AI solutions seamlessly with Veeva Vault applications. This initiative highlights Veeva's ongoing efforts to leverage advanced technologies to enhance its product ecosystem. Furthermore, the introduction of Veeva Vault CRM Campaign Manager aims to simplify and speed up non-personal promotion to healthcare professionals, ensuring consistent and compliant marketing efforts.
Financially, Veeva Systems has shown strong performance with its fiscal year 2024 results reflecting robust growth. The company continues to invest in its innovation engine and strategic partnerships, setting the stage for sustained, profitable growth. Veeva's recent financial outlook for fiscal year 2025 and first quarter results for 2024 further underline its market leadership and operational excellence.
For more information about Veeva Systems, its products, and latest updates, visit www.veeva.com.
Veeva Systems reported a strong second quarter for fiscal 2022, with total revenues of $455.6 million, marking a 29% year-over-year increase. Subscription services revenues also rose to $366.4 million, up 29%. Operating income was $124.6 million, a 38% increase compared to the prior year. Non-GAAP net income increased by 31% to $152.7 million, with diluted net income per share at $0.67. Veeva's outlook for the third quarter projects revenues between $464 and $466 million and for the fiscal year, between $1,830 and $1,835 million.
Veeva Systems (NYSE: VEEV) announces that B. Braun SE has adopted the Veeva Vault Clinical Operations Suite to enhance clinical study management and payments to partner sites globally. This collaboration aims to improve efficiency and oversight in clinical trials, allowing B. Braun to conduct more studies at a faster pace. The integration includes Veeva's solutions for study management and payments, aiding compliance and reducing administrative burdens. The partnership signifies a step in B. Braun's digital transformation and commitment to advancing healthcare.
Veeva Systems will release its financial results for the second fiscal quarter, concluding on July 31, 2021, after market close on September 1, 2021. A conference call and webcast will be held on the same day at 2:00 p.m. PT (5:00 p.m. ET) to discuss the results. Prepared remarks will be available on Veeva's investor relations website around 1:05 p.m. PT (4:05 p.m. ET). This quarterly release comes as Veeva continues to serve over 1,000 customers globally in the life sciences sector.
Veeva Systems (NYSE: VEEV) announced its acquisition of Learnaboutgmp, a premier provider of accredited GxP training for life sciences, on August 3, 2021. This acquisition combines Learnaboutgmp's extensive eLearning library, featuring over 170 course titles and 450 microlearning assets, with Veeva's Vault Training, enhancing training efficiency and compliance for clients. Learnaboutgmp will continue its operations independently under its founder, maintaining its presence in both Ireland and the United States, while aiming to address growing compliance needs in the industry.
Veeva Systems announced the addition of 11 new therapeutic areas to its customer intelligence platform, Veeva Link, now covering 12 areas including oncology. The platform provides curated expert profiles and real-time insights to enhance engagement between life sciences teams and global experts. Key areas expanded include cardiology, neurology, and respiratory diseases. Veeva aims to set the industry standard in real-time customer intelligence, supporting better research and patient care. A summit on June 10, 2021, will showcase how Veeva Link aids pharma companies in personalizing customer interactions.
Veeva Systems (NYSE: VEEV) announced the upcoming 2021 Veeva Commercial & Medical North America Summit Connect on June 10, 2021, featuring keynotes from industry leaders at Boehringer Ingelheim, GSK, and UCB. The event will explore digital-first engagement and data innovation approaches. Dr. Cecil T. Holbert and Amanda Romano will open with a discussion on evolving healthcare provider access. There will be over 100 sessions focused on transforming commercial strategies in the life sciences sector.
Veeva Systems reported strong fiscal 2022 Q1 results, achieving total revenues of $433.6 million, a 29% increase year-over-year. Subscription services revenues grew by 26% to $341.1 million. Operating income rose 47% to $128.4 million, with net income increasing 33% to $115.6 million. Non-GAAP metrics showed similar growth, with non-GAAP net income per share reaching $0.91. The company added a record 59 new customers, bringing the total to over 1,000. Veeva's outlook for Q2 anticipates revenues of $450-$452 million, with non-GAAP net income per share projected at $0.85-$0.86.
The Shareholder Commons is advocating for shareholder proposals to compel companies to become Public Benefit Corporations (PBCs), which integrate social and environmental goals with profit. Support for this initiative is growing, backed by governance advisors like PIRC Limited. Significant votes are pending at large firms such as Chevron, BlackRock, and Alphabet. Proponents argue that a legally binding commitment to balance stakeholder interests can protect investor value. Veeva Systems is highlighted as the largest publicly traded PBC, reflecting a shift in corporate purpose.
Veeva Systems (NYSE: VEEV) announced that over 100 organizations have implemented Veeva Vault Training to enhance role-based qualification and comply with industry standards. This integration with Veeva Vault QualityDocs facilitates streamlined document and training management. Customers benefit from features such as seamless learning management, sophisticated curriculum builds, and robust reporting. Veeva aims to address evolving training needs in life sciences, fostering efficiency and compliance across the industry.
On May 19, 2021, Veeva Systems (NYSE: VEEV) announced an increasing adoption of its Veeva Development Cloud by over 650 life sciences companies. This platform integrates applications for clinical, regulatory, quality, and safety functions, designed to eliminate organizational silos and enhance collaboration. Notably, more than 350 companies are using Vault Clinical applications, while more than 250 are optimizing regulatory processes with Vault RIM. The company emphasizes accelerating drug development and improving operational efficiency through its unified applications.
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