December 28, 2014 2:11 PM ET

Health Care Technology

Company Overview of Veeva Systems Inc.

Company Overview

Veeva Systems Inc. provides industry-specific cloud-based software solutions for the life sciences industry in North America, Europe, the Asia Pacific, and Latin America. The company’s solutions enable pharmaceutical and other life sciences companies to realize the benefits of cloud-based architectures and mobile applications for various business functions. Its industry cloud solutions include Veeva CRM for customer relationship management that enables physician-facing employees, such as pharmaceutical sales representatives, key account managers, and scientific liaisons to manage, track, and optimize interactions with healthcare providers in various communication channels utilizing a single ...

4637 Chabot Drive

Suite 210

Pleasanton, CA 94588

United States

Founded in 2007

887 Employees

Phone:

925-452-6500

Fax:

925-452-6504

Key Executives for Veeva Systems Inc.

Co-Founder
Age: 49
Total Annual Compensation: $270.8K
Co-Founder and President
Age: 42
Total Annual Compensation: $292.9K
Chief Financial Officer and Principal Accounting Officer
Age: 47
Total Annual Compensation: $272.9K
Compensation as of Fiscal Year 2014.

Veeva Systems Inc. Key Developments

Veeva Systems Announces Healthcare Professional and Healthcare Organization Data Offering for the European Market

Veeva Systems Inc. announced the availability of the Veeva Network Provider Database for Europe, beginning with the top five markets. With an aim to provide life sciences companies choice and the most up-to-date and accurate healthcare professional (HCP), healthcare organization (HCO), and affiliations data, Veeva is delivering the Network Provider Database for the U.K.; France, Germany, Italy, and Spain in the first half of 2015; and other markets to follow. The Veeva Network Provider Database's millions of HCP, HCO, and affiliations records are continuously updated from authoritative industry sources for the best, most timely information, including digital profile data crucial to today's multichannel engagement. The higher standards of quality and completeness are ensured through rigorous automated and steward-led validation. Data is sourced locally and consolidated into a single European reference database to eliminate the burden of managing multiple data feeds and duplication of HCP and HCO records across markets. Veeva's European data operations build on the company's proven experience and methodologies honed in the U.S. and China, which continually validate and augment a database of more than 10 million providers. The Veeva Network Provider Database is part of the comprehensive Veeva Network family of solutions. Companies now have the choice to use a single, trusted source of customer data; customer master data management software; and stewardship services, standalone or taken together to gain the agility and efficiency benefits of a fully unified solution. Veeva's provider data is readily accessible to both sales and marketing on-demand -- uniting the enterprise with a single view of the customer.

Veeva Systems Opens New Data Centers in Europe to Support Global Growth

Veeva Systems announced that it has opened two new European data centers, located in Germany and the U.K., in support of the company's continued investment in the region and rapid global expansion. The introduction of these facilities simplifies compliance with local data privacy laws and international regulatory requirements by offering European customers the opportunity to store their data within the region. The new data centers can support European and global customers' needs for all of Veeva's cloud-based solutions, including Veeva CRM, Veeva Network, and Veeva Vault. While all Veeva customers are protected by stringent Safe Harbor certifications, the Veeva European data centers will expand current options and safeguards to help ensure that companies can best meet compliance and regulatory requirements now and into the future. The establishment of the European data centers builds on Veeva's strong presence in Europe and the recent fourfold expansion of the company's Budapest office.

Veeva Systems Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended October 31, 2014; Provides Earnings Guidance for the Fourth Quarter and Year Ending January 31, 2015

Veeva Systems Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended October 31, 2014. For the quarter, the company’s total revenues were $83,825,000 against $54,979,000 a year ago. Operating income was $19,941,000 against $9,985,000 a year ago. Income before income taxes was $18,952,000 against $10,110,000 a year ago. Net income was $10,258,000 against $6,525,000 a year ago. Net income attributable to Class A and Class B common stockholders – diluted was $10,198,000 or $0.07 per share against $6,387,000 or $0.05 per share a year ago. Net cash provided by operating activities was $34,256,000 against $5,267,000 a year ago. Purchases of property and equipment were $790,000 against $460,000 a year ago. Operating income on a non-GAAP basis was $24,074,000 against $11,884,000 a year ago. Net income on a non-GAAP basis was $13,678,000 or $0.09 diluted per share against $7,712,000 or $0.06 diluted per share a year ago. Net income attributable to common stockholders on a non-GAAP basis was $13,598,000 against $7,560,000 a year ago. For the nine months, the company’s total revenues were $226,210,000 against $147,348,000 a year ago. Operating income was $49,283,000 against $27,996,000 a year ago. Income before income taxes was $48,163,000 against $27,557,000 a year ago. Net income was $27,057,000 against $17,368,000 a year ago. Net income attributable to Class A and Class B common stockholders – diluted was $26,851,000 or $0.19 per share against $16,937,000 or $0.13 per share a year ago. Net cash provided by operating activities was $68,994,000 against $25,528,000 a year ago. Purchases of property and equipment were $26,072,000 against $1,561,000 a year ago. Operating income on a non-GAAP basis was $61,093,000 against $31,968,000 a year ago. Net income on a non-GAAP basis was $36,417,000 or $0.25 diluted per share against $20,619,000 or $0.16 diluted per share a year ago. Net income attributable to common stockholders on a non-GAAP basis was $36,140,000 against $20,120,000 a year ago. For the fourth quarter ending January 31, 2015, the company expects total revenues between $84.5 and $85.5 million, non-GAAP operating income between $22.0 and $23.0 million and non-GAAP fully diluted net income per share of $0.08 and $0.09. The company expects the operating margin to be down sequentially in fourth quarter of 2014 due to the full impact of the hiring that the company completed in third quarter. For the year ending January 31, 2015, the company expects total revenues between $310.7 and $311.7 million, non-GAAP operating income between $83.1 and $84.1 million and non-GAAP fully diluted net income per share between $0.33 and $0.34.

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