Veeva Systems Inc - Ordinary Shares - Class A

Strong Q1 Performance: Veeva Systems reported total revenue of $759 million for the first quarter of Fiscal 2026, exceeding guidance and achieving a revenue run rate of $3 billion. Non-GAAP operating margin remained strong, highlighting robust operational performance.

Customer Migration to Vault CRM: Over 80 customers are currently live on Vault CRM, with a target of reaching around 200 by the same time next year. This migration is driven by improved functionalities and innovations such as Service Center and Campaign Manager, suggesting a solid pipeline for customer adoption and retention.

Commercial Strength and Crossix Growth: The company noted that the Crossix platform significantly contributed to revenue growth, with the business growing over 30% year over year. This growth is attributed to increased digital marketing investments from customers seeking to maximize the ROI on their spending.