Earnings call transcript: Veeva Systems tops Q2 2026 estimates, shares jump after hours

Veeva Systems reported stronger-than-expected fiscal second-quarter results, topping Wall Street estimates. The life sciences software company disclosed adjusted earnings of $2.35 per share and revenue of $928 million for the quarter ended July 31, surpassing expectations of $2.22 per share and $905.4 million. The stock surged 9.43% in after-hours trading, reaching $268 following a closing price of $244.91, down 0.76% for the day.

Veeva's strong performance in commercial software for drugmakers, particularly in CRM, drove the growth. More than 180 Vault CRM customers are now active. The company's commercial segment showed broad-based growth across various segments, including CRM, content, data, Crossix, and Ostro. Despite a shift in the R&D business, Veeva's strong CRM performance and commercial subscription revenue growth offset the transition.

The company's results reflect the resilience of the life sciences industry amidst macroeconomic and geopolitical uncertainties. Veeva's fair value estimate suggests potential upside, and the platform is currently considered undervalued. The company maintains a market capitalization of $39.85 billion and a strong financial health score.