Software group Veeva Systems has posted a 35% rise in first-quarter revenues to $89.9 million, after a 42% leap in its subscription services for the life sciences industry.
The increase drove an 80% leap in net income to $13 million. Veeva said the results were above expectations, and that recent successes across its cloud portfolio positions the firm well for further growth in years ahead.
According to Veeva, its Commercial Cloud brings together customer data, multichannel interactions and other content to provide a comprehensive view of customers “for more efficient and effective commercial execution”.
Five of the top 20 pharmaceutical companies have now selected its cloud-based application Vault eTMF to manage clinical trial documents globally, the firm said, also noting that during the quarter it was chosen by GlaxoSmithKline for a multi-year global multichannel CRM rollout.