Veeva Systems Inc Q2 2024 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Jailendra P. Singh - Truist Securities, Inc., Research Division - Analyst : Congrats on a strong quarter. First, I want to better understand the margin trends in the quarter, which came in nicely ahead of your quarterly guidance when you adjust for TFC and FX impact. Just trying to understand what drove the upside there? And it looks like REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 30, 2023 / 9:00PM, VEEV.N - Q2 2024 Veeva Systems Inc Earnings Call you're only raising the EBIT guide for the full year to reflect outperformance in the quarter. So how are you thinking about those cost trends in the second half?

Question: Jailendra P. Singh - Truist Securities, Inc., Research Division - Analyst : Okay. And then following up on the question on macro front, asked earlier with respect to the funding environment putting pressure on smaller biotech companies. I understand your fiscal '24 guidance does not assume any change there. But what are you assuming in your fiscal '25 outlook, are you assuming any improvement in trends there? And then my broader question on macro is that I completely understand that Veeva's products are core to pharma R&D, but some of your peers and competitors have been talking about shrinking R&D budgets for pharma and cut down on discretionary spending. What gives you comfort that these trends will not start spilling over to your focus area? Just trying to understand the comfort there.