Veeva Systems Inc. · NYSE:VEEV
Veeva Systems — William Blair Growth Stock Conference 2015
16 slides from Veeva Systems's conference presentation, Jun 10, 2015
Slide 1: William Blair Growth Stock Conference
William Blair Growth Stock Conference June 2015
Slide 2: Safe Harbor
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”), includi
Slide 3: Investor Highlights
Investor Highlights Revenue and Profitability $313m Industry Cloud Business Model $210m Large Market Opportunity Broad, Growing Suite of Products $130m Blue Chip Customer Base $86m $90m $67m Unique Combination of High $30m $47m $26m Growth and Strong Profitability $16m FY’13 FY’14 FY’15 Q1’15 Q1’16
Slide 4: Industry Cloud Model
Industry Cloud Model Software Data Services veeva.com | 4
Slide 5: Advantages of Industry Cloud
Advantages of Industry Cloud Deeper Focused Higher Lower Customer R&D and Customer Customer Engagement S&M Spend Lifetime Acquisition Value Costs veeva.com | 5
Slide 6: Industry-specific is the Largest Segment of the Software Market
Industry-specific is the Largest Segment of the Software Market Total Worldwide Software Market Share, 2014 Vertical Specific Software 9% Operating Systems 3% 4% Database Management Systems Other Application Software 4% 27% ERP 4% $115B App Infrastructure / Middleware CRM 4% IT Operations 5% Securit
Slide 7: Significant IT Spend and Large Market Opportunity
Significant IT Spend and Large Market Opportunity $51B Annual Life Sciences IT Spending $5B+ Current Addressable Market $20B Infrastructure $2B Sales Productivity & Compliance Tools (CRM) $1B Customer Master Software & Data (Network) $31B Software & Services $2B Content Management (Vault) Sources: I
Slide 8: Veeva Spans an Entire Life Sciences Company
Veeva Spans an Entire Life Sciences Company Research & Development Commercial Clinical Quality and Regulatory Medical Marketing Sales Trials Manufacturing veeva.com | 8
Slide 9: Select Veeva Customers
Select Veeva Customers 275+ customers with users in over 80 countries Enterprise Emerging Growth veeva.com | 9
Slide 10: Strong Revenue Growth
Strong Revenue Growth $313M 35% Year on Year Total Growth 42% Year on Year Subscription Growth $210M $233M $130M $147M $87M $90M $73M $84M $76M $61M $67M $61M $67M $69M $33M $49M $57M FY'11 FY'12 FY'13 FY'15 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Subscription Services veeva.com | 10
Slide 11: Total Revenue Mix
Total Revenue Mix Continued Growth in CRM, Rapid Growth in Newer Products $90M $67M $43M <80% % of total <90% >95% Q1'14 Q1'15 Q1'16 CRM Vault, Network & OpenData veeva.com | 11
Slide 12: Successful Customers Buy More
Successful Customers Buy More Annualized Subscription Revenue Growth From Existing Customers Continued Growth of: + Users + Geographies + Divisions 38% + Product Lines 66% Customers Existing in Prior Year New Customers FY'13 FY'14 FY'14 FY'15 veeva.com | 12
Slide 13: Non-GAAP Operating Margin
Non-GAAP Operating Margin 29.0% 29.3% Material Investment in R&D Vault & Network 28.7% 27.5% 24.3% 23.4% 22.3% 21.7% 21.1% Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 veeva.com | 13
Slide 14: Strong Free Cash Flow Performance
Strong Free Cash Flow Performance $110 $90 $70 $50 $30 $10 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 -$10 LTM Free Cash Flow 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 Q1’1
Slide 15: Investor Highlights
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 veeva.com | 15
Slide 16: Thank You
W Thank You
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