Veeva expects first Falcon go-lives this year, targets over 70% CRM share

Earnings
โดย Seeking Alpha·US·Read original
Summary · why it matters

Veeva Systems reported fiscal Q2 2027 revenue of $928 million, beating analysts' estimates of $905.3 million, and said it expects the first go-lives of its AI product Falcon this year while maintaining over 70% share in the CRM space. CEO Peter Gassner called it "another strong quarter" and "our best CRM quarter ever," with commercial subscriptions up about 13% year-over-year. The company has over 180 customers live on Vault CRM, up from over 150 in the prior quarter, and management noted that one of its top 20 customers turned on AI in CRM for its entire field force. Gassner said Veeva is "the rate limiter" in Falcon's rollout, with five early adopters and first go-lives expected this year, and that interest is very high. CFO Brian Van Wagener said nothing material for the fiscal year is factored into guidance, and the company expects to win back some Salesforce customers, with the bulk likely in 2027 and 2028.

Impact on stocks 2

Cloud & Digital Infrastructure · 1 stocks
Veeva Systems Inc Class A
VEEV
▲ PositiveDemandrelevance

Veeva reported strong Q2 revenue beat, best CRM quarter ever, and expects first Falcon go-lives this year with high interest.

Artificial Intelligence · 1 stocks
Salesforce.com Inc
CRM
▼ NegativeCompetitionrelevance

Veeva expects to win back some Salesforce customers, threatening Salesforce's CRM market share.

Theme Impact 2

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