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Veeva Systems Inc. Message Board

  • busy26795 busy26795 Mar 8, 2014 11:21 AM Flag

    Ok I watched the whole show and wrote the interview with VEEV's CEO verbatim...part 1

    Jim, "VEEV, is a cloud based software company that helps pharmaceuticals sales reps more be more efficient ,do a better job of promoting their product. This is really crucial in the drug business where you only have a really limited window before your patents expire so you want to commercialize your new drugs as fast as possible. That's what Veeva Systems is all about.

    VEEV got slammed 8% after reporting a terrific quarter on Tuesday

    When you look at the numbers VEEV reported a terrific quarter, better than expected revenues up 57.8%, better than expected billings up 56%, upside guidance, I'm certain might be conservative.

    So why did the stock get crushed, even after Deutsche in a bullish research report said VEEV gave you, quote... everything that bears didn't want to see? Now VEEV has sold off to 32 and change, yet short sellers seem to went to bang it down every time it lifts it's head!

    Let's speak with Veeva's CEO Peter Gassner and find out:

    Jim, alright Peter your number one value is customer success, How are you giving the customer success?

    Gassner, Well our customers are life sciences customers this is a big industry. Our customers are people like Pheizer, Amgen, Novartis. They have a very specific industry 1.6 billion industry. They're stuck on a bunch of legacy client server applications that are really holding them back. They are not able to innovate. They are not able to be efficient. So we're replacing those legacy client server applications with cloud based applications that are easier to use and they just fit their business processes better help them be more efficient and effective in what they do

    Jim, Ok so if I'm a sales rep for Lilly. if I have a client service system I couldn't bring my iPad and jot things down on my IPad and what would happen is I would take notes and enter in my PC when i get back and then it would go to some central computer?

    Sentiment: Strong Buy

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    • Part 2
      Gassner, "That's a great example. In a legacy platform you may not be able to take that computer with you in the field, you are jotting down notes, forgetting things, and may not have anything to show the show the doctor.

      Jim, "In this quarter alone 6 thousands users went live in China, 7 thousand users in 30 countries went live, 15,000 users in an other contract. These are amazing numbers. So I'm trying to rationalize why you can have such big contracts, the stock has come off? Is it possible in one particular moment in the conference call you talked about some seasonal issues that might lead to a sequential decline, could that be what people are seizing on?"

      Gassner: "Yeah, it is impossible to know what people are seizing on We had a great year, a great quarter, but we are building this business for the long term. For our customers we approach it on a 10, 20 year basis. We a have a strong record of high growth last year 62% growth, and always strong profitability over the past three years above 20% operating margin. We have a valuation, I think reflects that. You'll see some fluctuation on a quarter by quarter basis. I think the macro trend is good for Veeva."

      Jim, "I think it's almost like you're being penalized because unlike a lot of the other cloud plays that are growing at a rate that is somewhat like yours, you're actually making money. I mean it's almost ironic, don't you think?"

      Gassner, "Yeah, I think. We believe the old fashioned way, you should have a strong top line and bottom line, and I believe that sets you up for long term growth. So, boy, I'm not so good a predicting the market from day to day so we just try to grow the business efficiently and effectively and grow the top line and the bottom line."

      Jim, "last time I talked to we didn't deal with your Vault product. I want you to lead with that. I realized that was something I should have brought up in November because that seems to be doing really incredibly well."

      Sentiment: Strong Buy

      • 1 Reply to busy26795
      • Part 3

        Gassner, "Yeah, I think. We believe the old fashioned way, you should have a strong top line and bottom line, and I believe that sets you up for long term growth. So, boy, I'm not so good a predicting the market from day to day so we just try to grow the business efficiently and effectively and grow the top line and the bottom line."

        Jim, "last time I talked to we didn't deal with your Vault product. I want you to lead with that. I realized that was something I should have brought up in November because that seems to be doing really incredibly well."

        Gassner, "Yes Jim, I'm very excited about Veeva Vault. It's a content management application, content management platform, and applications built on top of there are very specific for life sciences. We help them for example organize their documents that they need for there clinical trials, and organize the documents that they need for their standard operating procedures and their manufacturing processes. Critical documents and critical processes for example in the manufacturing area if you don't have a good application like this and you are a large life sciences company you could get your manufacturing plant shut down and that's a critical impact. So last quarter we announced just tremendous progress with Vault. We signed up 10 new customers including our first 2 over 7 figure annual contract value deals. Vault is taking off in a similar way that CRM took off in the early days of the company, so we're, I couldn't be more excited. I'm very proud of our progress and our product team on the Vault product line.

        Jim, "You absolutely should be, and it looks to me all systems go at Veeva!

        Thank you, so much to Peter Gassner the co-founder, and CEO of Veeva Systems."

        Sentiment: Strong Buy

 
VEEV
24.61-0.14(-0.57%)Sep 3 4:02 PMEDT