Veeva Systems Inc. has approved a share‑repurchase program that authorizes the company to buy back up to $2 billion of its Class A common stock over the next two years. The program gives Veeva flexibility to repurchase shares through open‑market transactions, private negotiations, or other methods, and it can be exercised at management’s discretion in response to business, economic, and market conditions.
The approval comes after Veeva reported third‑quarter 2026 results that showed revenue of $811.2 million, a 16 % year‑over‑year increase, and non‑GAAP net income of $345.1 million, up 20 % from the same period a year earlier. Gross margin stood at 75.67 % and net margin at 27.93 %, underscoring the company’s ability to generate strong cash flow while maintaining high profitability.
Revenue growth was driven by broad‑based strength across Veeva’s Commercial Cloud and R&D Cloud segments. The Commercial Cloud, which includes the Vault CRM platform, continued to expand as pharmaceutical customers accelerate cloud adoption, while the R&D Cloud benefited from the rapid uptake of data‑driven tools such as Crossix and the Data Cloud. Together, these segments contributed the majority of the revenue increase, offsetting modest headwinds in legacy product lines.
CFO Brian Van Wagener highlighted that the company’s multi‑product portfolio, disciplined cost management, and focus on innovation are key to sustaining cash generation. He noted that the share‑repurchase program signals confidence that the current share price does not fully reflect Veeva’s intrinsic value and that the company will continue to invest in AI‑enabled capabilities that are expected to drive future growth.
Veeva’s guidance for the remainder of fiscal 2026 remains unchanged, with full‑year revenue expected to stay in the $4.4 billion range and earnings per share projected to be approximately $7.93. The company’s guidance reflects confidence in continued demand for its cloud solutions and the ability to maintain margin expansion through operational leverage and pricing power.
Analysts had a consensus estimate of $1.95 for the quarter, and Veeva reported earnings of $2.04 per share, a beat of $0.09. The earnings beat, combined with the company’s robust cash flow and the new share‑repurchase program, reinforces the view that Veeva is well positioned to return capital to shareholders while pursuing strategic investments.
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