William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15...

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William Blair Growth Stock Conference June 2015

Transcript of William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15...

Page 1: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

William Blair Growth Stock Conference June 2015

Page 2: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

veeva.com | 2

Safe Harbor

This presentation contains forward-looking statements. All statements other than statements of historical facts contained in this

presentation, including statements regarding future results of the operations and financial position of Veeva Systems Inc. (“Veeva”

or the “Company”), including financial targets, business strategy, and plans and objectives for future operations, are forward-

looking statements. Veeva has based these forward-looking statements largely on its estimates of its financial results and its

current expectations and projections about future events and financial trends that it believes may affect its financial condition,

results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs as of

the date of this presentation. These forward-looking statements are subject to a number of risks, uncertainties and assumptions,

including those described under the heading “Risk Factors” in the Form 10-Q for the quarterly period ended April 30, 2015, as filed

with the Securities and Exchange Commission (the “SEC”). Moreover, Veeva operates in a very competitive and rapidly changing

environment. New risks emerge from time to time. It is not possible for Veeva’s management to predict all risks, nor can Veeva

assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual

results to differ materially from those contained in any forward-looking statements Veeva may make. In light of these risks,

uncertainties and assumptions, the forward-looking events and circumstances discussed in this presentation may not occur and

actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements.

You should not rely upon forward-looking statements as predictions of future events. Although Veeva believes that the

expectations reflected in the forward-looking statements are reasonable, Veeva cannot guarantee that the future results, levels of

activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover,

neither Veeva nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements.

Except as required by law, Veeva undertakes no obligation to update publicly any forward-looking statements for any reason after

the date of this presentation, to conform these statements to actual results or to changes in Veeva’s expectations.

In addition to U.S. GAAP financials, this presentation includes certain non-GAAP financial measures. These non-GAAP measures

are in addition to, not a substitute for or superior to, measures of financial performance prepared in accordance with U.S. GAAP.

A reconciliation of non-GAAP measures to GAAP measures is contained in the Company’s quarterly earnings press release, filed

with the SEC on Form 8-K on May 28, 2015.

Page 3: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Investor Highlights

Industry Cloud Business Model

Large Market Opportunity

Broad, Growing Suite of Products

Blue Chip Customer Base

Unique Combination of High

Growth and Strong Profitability

Fiscal Year Ending January 31

¹ Refer to our latest earnings release dated 5/28/2015 for GAAP to non-GAAP reconciliation

$130m

$210m

$313m

$30m

$47m

$86m

FY’13 FY’14 FY’15

Revenue Non-GAAP Operating Income1

Revenue and Profitability

$67m

$16m $26m

$90m

Q1’15 Q1’16

Page 4: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Industry Cloud Model

Services Data Software

Page 5: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Advantages of Industry Cloud

Deeper

Customer

Engagement

Focused

R&D and

S&M Spend

Higher

Customer

Lifetime

Value

Lower

Customer

Acquisition

Costs

Page 6: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Industry-specific is the Largest Segment of the Software Market Total Worldwide Software Market Share, 2014

27%

8%

8%

7% 6%

6%

5%

5%

4%

4%

4%

4%

3%

9% Vertical Specific Software

Operating Systems

Database Management Systems

Other Application Software

ERP

App Infrastructure / Middleware

CRM

IT Operations

Security

Office Suites

Storage Management

Business Intelligence

Other Infrastructure Software

Other

Source: Gartner, Market Share: All Software Markets Worldwide 2014, March 2015

$115B

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Significant IT Spend and Large Market Opportunity

Sources: IDC, Worldwide IT Spending Guide – Life Science, March 2014; Veeva Systems estimates

$20B Infrastructure

$31B Software & Services

Annual Life Sciences IT Spending

$51B $5B+ Current Addressable Market

$2B Content Management (Vault)

$1B Customer Master Software & Data (Network)

$2B Sales Productivity &

Compliance Tools (CRM)

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Veeva Spans an Entire Life Sciences Company

Regulatory Clinical

Trials

Quality and

Manufacturing Medical Marketing Sales

Research & Development Commercial

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Select Veeva Customers 275+ customers with users in over 80 countries

Enterprise Emerging Growth

Page 10: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Strong Revenue Growth

FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16

$33M

$73M

$147M

$233M

$313M

$210M

$130M

$61M

$49M $57M $61M $67M $69M

$67M $76M

$84M $87M $90M

35% Year on Year Total Growth 42% Year on Year Subscription Growth

Subscription Services

Page 11: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Total Revenue Mix

Q1'14 Q1'15 Q1'16

CRM Vault, Network & OpenData

$43M

<80% % of total

Continued Growth in CRM, Rapid Growth in Newer Products

>95%

$67M

$90M

<90%

Page 12: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Successful Customers Buy More Annualized Subscription Revenue Growth From Existing Customers

Continued Growth of:

+ Users + Geographies + Divisions + Product Lines

FY'13 FY'14 FY'14 FY'15

66%

Customers Existing in Prior Year

New Customers

38%

Page 13: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Non-GAAP Operating Margin

Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16

21.1%

22.3% 21.7%

23.4% 24.3%

27.5%

28.7% 29.0% 29.3% Material Investment in R&D Vault & Network

Page 14: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

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Strong Free Cash Flow Performance

LTM Free Cash Flow

-$10

$10

$30

$50

$70

$90

$110

Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16

Free Cash Flow

Note: Numbers exclude the one-time purchase of our new headquarters building for $24 million in Q2’15, and $4 million attributable to the subsequent build-out in Q1’16;

free cash flow = operating cash flow less capex

Page 15: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

veeva.com | 15

Investor Highlights

Industry Cloud Business Model

Large Market Opportunity

Broad, Growing Suite of Products

Blue Chip Customer Base

Unique Combination of High Growth and Strong Profitability

Page 16: William Blair Growth Stock Conference · 6/10/2015  · FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 $33M $73M $147M $233M $313M $210M $130M $61M $49M $57M $61M $67M $69M

Thank You


Fiscal Year (FY) 2016 President's Budget Submission ......Years FY 2014 FY 2015 FY 2016 Base FY 2016 OCO FY 2016 Total FY 2017 FY 2018 FY 2019 FY 2020 To Complete Total Procurement

Fiscal Year (FY) 2016 President's Budget Submission ......Years FY 2014 FY 2015 FY 2016 Base FY 2016 OCO FY 2016 Total FY 2017 FY 2018 FY 2019 FY 2020 To Complete Total Procurement

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NJ TRANSIT BOARD ADMINISTRATION COMMITTEE … · 250 260 270 280 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 s -s; Moving 12 Month Ridership Totals; 700,000 775,000

GENERAL FUND REVENUE: TRENDS & ANALYSIS...FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 (e) (Millions of Dollars) ANNUAL GENERAL FUND REVENUE GROWTH Source: S.C. Revenue

GENERAL FUND REVENUE: TRENDS & ANALYSIS...FY 08 FY 09 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 (e) (Millions of Dollars) ANNUAL GENERAL FUND REVENUE GROWTH Source: S.C. Revenue

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High Energy Physics Detector R&D · 2019-08-07 · Universities: annual funding opportunity announcement ... FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 REQUEST

High Energy Physics Detector R&D · 2019-08-07 · Universities: annual funding opportunity announcement ... FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 16 FY 17 FY 18 FY 19 FY 20 REQUEST

UMHS Consolidated, Medical School & HHC Financial Reports ... FY 16 Closing Package.pdf · FY 15 Q2 FY 15 Q3 FY 15 Q4 FY 15 FY 15 Total Year Jul FY 16 Aug FY 16 Sep FY 16 Q1 FY 16

UMHS Consolidated, Medical School & HHC Financial Reports ... FY 16 Closing Package.pdf · FY 15 Q2 FY 15 Q3 FY 15 Q4 FY 15 FY 15 Total Year Jul FY 16 Aug FY 16 Sep FY 16 Q1 FY 16

FY 13 FY 12 FY 14 FY 11 FY 15 FY 10 FY 16 FY 2016 (1 Oct 15 to … · Special Duty Assignment Pay (SDAP) FY 16 FY 15 FY 14 FY 13 FY 12 FY 11 FY 10 FY 2016 (1 Oct 15 to 30 Sep 16)

FY 13 FY 12 FY 14 FY 11 FY 15 FY 10 FY 16 FY 2016 (1 Oct 15 to … · Special Duty Assignment Pay (SDAP) FY 16 FY 15 FY 14 FY 13 FY 12 FY 11 FY 10 FY 2016 (1 Oct 15 to 30 Sep 16)

Transportation FY 2016-2017 Budget and Fee …...FY 15 Budget FY 15 Forecast FY 15 Actual FY16 Budget FY 16 Forecast FY 17 FY 18 FY 19 FY 20 FY 21 REVENUE $ 283,845 $ $ $ $ $ 267,165

Transportation FY 2016-2017 Budget and Fee …...FY 15 Budget FY 15 Forecast FY 15 Actual FY16 Budget FY 16 Forecast FY 17 FY 18 FY 19 FY 20 FY 21 REVENUE $ 283,845 $ $ $ $ $ 267,165

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Federal Budget ActivityFederal Budget Activity · Federal Budget ActivityFederal ... FY 2010 FY 2011 President House Agreement FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 ...

Federal Budget ActivityFederal Budget Activity · Federal Budget ActivityFederal ... FY 2010 FY 2011 President House Agreement FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 ...

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8(a) Contracting TrendsRecordings and Slides Available: • Small Business Outlook & Contracting Trends ... FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007

8(a) Contracting TrendsRecordings and Slides Available: • Small Business Outlook & Contracting Trends ... FY 2015 FY 2014 FY 2013 FY 2012 FY 2011 FY 2010 FY 2009 FY 2008 FY 2007

DEPARTMENT OF TAXATION STATE OF HAWAIIfiles.hawaii.gov/tax/stats/stats/annual/16annrpt.pdf2016/12/19  · FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY

DEPARTMENT OF TAXATION STATE OF HAWAIIfiles.hawaii.gov/tax/stats/stats/annual/16annrpt.pdf2016/12/19  · FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY

CLASSIFICATION: UNCLASSIFIED · CLASSIFICATION: UNCLASSIFIED EXHIBIT R-2, ... COST ($ in Millions) FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 ... 3107 / CG (X)

CLASSIFICATION: UNCLASSIFIED · CLASSIFICATION: UNCLASSIFIED EXHIBIT R-2, ... COST ($ in Millions) FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 ... 3107 / CG (X)

Fiscal Year (FY) 2017 President's Budget …...Years FY 2015 FY 2016 FY 2017 Base FY 2017 OCO FY 2017 Total FY 2018 FY 2019 FY 2020 FY 2021 Cost To Complete Total Cost Total Program

Fiscal Year (FY) 2017 President's Budget …...Years FY 2015 FY 2016 FY 2017 Base FY 2017 OCO FY 2017 Total FY 2018 FY 2019 FY 2020 FY 2021 Cost To Complete Total Cost Total Program

A World-leading Independent Southern Africa Producer and ......Mar 07, 2016  · FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Operating Margin 8

A World-leading Independent Southern Africa Producer and ......Mar 07, 2016  · FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 Operating Margin 8

NASA's FY 2013 Budget Estimates€¦ · EDUCATION EDUC-1 Actual Estimate Budget Authority (in $ millions) FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2013 President’s

NASA's FY 2013 Budget Estimates€¦ · EDUCATION EDUC-1 Actual Estimate Budget Authority (in $ millions) FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2013 President’s