Veeva Systems Inc. (NYSE:VEEV) Q1 2021 Earnings Conference Call - Final Transcript

May 28, 2020 • 04:30 pm ET


Veeva Systems Inc. (NYSE:VEEV) Q1 2021 Earnings Conference Call - Final Transcript


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Thank you for standing by. And welcome to the Veeva Systems' Fiscal 2021 First Quarter Results Conference Call. [Operator Instructions] After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I'd now like to hand the conference over to your speaker today, Rick Lund, Head of Investor Relations. Thank you. Please go ahead.

Rick Lund

Good afternoon, and welcome to Veeva's fiscal 2021 first quarter earnings call for the quarter ended, April 30, 2020. With me on today's call are Peter Gassner, our Chief Executive Officer; Paul Shawah, SVP of Commercial Cloud; and Tim Cabral, our Chief Financial Officer.

During the course of this conference call, we will make forward-looking statements regarding trends, our strategies and the anticipated performance of the business. These forward-looking statements will be based on management's current views and expectations and are subject to various risks and uncertainties, including those related to the impacts of COVID-19 on our business, the Life Sciences industry, and global economic conditions. Our actual results may differ materially. Please refer to the risks listed in our earnings release and the risk factors included in our most recent filing on Form 10-K, which is available on the Company's website at under the Investors section and on the SEC's website at

Forward-looking statements made during the call are being made as of today, May 28, 2020, based on the facts available to us today. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information. Veeva disclaims any obligation to update or revise any forward-looking statements. We will provide guidance on today's call, but we'll not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum.

The guidance we will provide today is in part, based on our assumptions as to the macroeconomic environment in which we will be operating in the future, including the timing and pace of recovery from any negative effects caused by COVID-19. Such matters that are beyond our control in our assumptions may not be correct.

On the call, we will also discuss certain non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP metrics can be found in today's earnings release, which is available on our website and as an exhibit to the Form 8-K filed with the SEC just before this call. One final note, concurrent with our earnings release, we have posted an Investor Presentation on our IR website that contains a summary of our Q1 and recent historical financial results and our updated guidance. We will continue to provide these materials on a quarterly basis going forward as a helpful reference for those interested in our business.

With that, thank you for joining us, and I will turn it over to Peter.

Peter Gassner

Thank you, Rick. And thanks to everyone joining us today. Before I give an update on the business, I would like to