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 (NYSE: VEEV) has announced their participation in two upcoming investor conferences. Paul Shawah, EVP of Commercial Strategy, will present at the William Blair 44th Annual Growth Stock Conference in Chicago, IL, on June 5, 2024, at 2:00 p.m. Central Time. He will also present at the Baird 2024 Global Consumer, Technology & Services Conference in New York, NY, on June 6, 2024, at 9:40 a.m. Eastern Time. Both presentations will be webcast live and archived for later viewing on Veeva's investor relations website.
Veeva Systems (NYSE: VEEV) announced its fiscal 2025 first quarter results with total revenues reaching $650.3 million, up 24% year-over-year. Subscription services revenue increased by 29% to $534 million. The company reported a significant rise in operating income, which grew by 152% to $155.2 million, and non-GAAP operating income increased by 66% to $260.9 million. Net income saw an increase of 23% to $161.7 million, with non-GAAP net income rising by 67% to $247 million. Earnings per share (EPS) also grew, with fully diluted net income per share at $0.98 and non-GAAP fully diluted net income per share at $1.50. Veeva highlighted key wins with top biopharmas, progress in CRM and Data Cloud solutions, and provided positive guidance for the upcoming quarters.
Veeva Systems (NYSE: VEEV) unveiled findings from its Veeva Pulse Field Trends Report, highlighting a significant drop in healthcare professional (HCP) access, now at 45% compared to 60% eighteen months ago. The report underscores the effectiveness of a connected engagement model, where sales, marketing, and medical teams coordinate efforts to build more relevant and trusted HCP relationships. This approach helps biopharma companies overcome access barriers, increasing HCP engagement through digital and in-person touchpoints. The findings indicate that HCPs are more selective, often engaging with only three or fewer companies, and that specialties such as internal medicine, oncology, psychiatry, and urology have stricter access limitations. Despite these challenges, coordinated engagement has proven beneficial in extending conversations and improving treatment adoption.
Veeva Systems (NYSE: VEEV) announced that its Veeva MedTech platform has been named 'Best Overall MedTech Software' for the second consecutive year in the MedTech Breakthrough Awards. The award recognizes Veeva MedTech's innovation and excellence in helping medical device and diagnostic companies streamline processes through its unified cloud platform. Veeva MedTech's solutions, including Veeva Vault Clinical, RIM, Quality, Commercial, and Medical, offer comprehensive lifecycle management. Veeva partners with over 125 companies to enhance efficiency, speed, and compliance. This marks Veeva MedTech's third recognition by MedTech Breakthrough, following a win for 'Best Clinical Efficiency Solution' in 2022.
Veeva Systems (NYSE: VEEV) has launched Veeva Vault Basics, a new turnkey solution tailored for biotechs, which includes technology, training, and support with zero implementation and maintenance costs.
This offering allows biotechs to swiftly adopt industry-leading Veeva Vault applications, thereby enhancing efficiency, speed, and compliance. Currently, ten biotechs are using Vault Basics, which equips them with tools to manage growth effectively without additional costs.
The solution includes Vault eTMF Basics, Vault QualityDocs and Training Basics, and Vault Submissions and Submissions Archive Basics, providing a comprehensive suite for clinical trials, GxP document management, and regulatory submissions. Vault Basics is now available in North America, with additional offerings expected in 2025.
Veeva Systems (NYSE: VEEV) will release its fiscal 2025 first-quarter financial results on May 30, 2024, after the market closes. A conference call and webcast will be held at 2:00 p.m. PT (5:00 p.m. ET) on the same day to discuss the results. Prepared remarks will be posted on Veeva's investor relations website before the call. A webcast replay will be available on the website after the event.
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