Veeva Systems Inc. VEEV used its fiscal second-quarter 2027 earnings call to emphasize accelerating AI development through Veeva Falcon and strengthening Vault CRM adoption across large biopharma customers.
Management balanced enthusiasm around new AI markets with execution caution, while stronger operating results supported higher fiscal 2027 guidance.
VEEV Puts Falcon at Center of AI Push
Founder and CEO Peter Gassner said customer interest in Falcon, Veeva’s agentic labor platform, is high as customers prioritize efficiency, compliance and cost savings. He added that Veeva is currently the rate limiter as the product moves through early adoption.
A Baird analyst asked about early demand. Gassner said the company has five early adopters and expects initial go-lives this year, while noting Falcon avoids much of the implementation work associated with traditional software projects.
A Truist analyst pressed on pricing. Gassner said customers want predictability and discussed enterprise subscription structures that could rise as Falcon capabilities mature, while stressing that product readiness remains the priority.
Veeva CRM Execution Raises Competitive Stakes
Gassner called the second quarter Veeva’s best CRM quarter ever. More than 180 Vault CRM customers are live, while August commitments brought the number of top 20 biopharmas committed to Vault CRM to 12.
A Barclays analyst asked about customers that previously selected Salesforce. Gassner said some large projects are facing delays and implementation problems and said Veeva could win some of those customers back in 2027 and 2028.
VEEV Raises Outlook on Broad Commercial Strength
CFO Brian Van Wagener said Commercial subscription revenues rose about 13% year over year and remained in double digits excluding Crossix. He described strength across CRM, content, Data Cloud, Crossix and other offerings.
Non-GAAP earnings were $2.35 per share, which beat the Zacks Consensus Estimate of $2.22. Revenues were $928 million compared with the Zacks Consensus Estimate of $904.07 million. Total revenues increased 18% year over year.
Veeva Systems Inc. Price, Consensus and EPS Surprise
Veeva Systems Inc. price-consensus-eps-surprise-chart | Veeva Systems Inc. Quote
Veeva expects fiscal third-quarter revenues in the range of $932 million-$935 million and non-GAAP earnings in the band of $2.33-$2.34. Fiscal 2027 revenue guidance is $3.682 billion-$3.687 billion, with non-GAAP earnings of about $9.21.
