Veeva Systems (NYSE: VEEV) today announced it has formed a board committee to explore becoming a public benefit corporation (PBC). The Committee will seek input from shareholders, customers, and other stakeholders on the possibility of becoming a PBC before taking any further action. A PBC is a for-profit corporation that has also adopted a public benefit purpose. Unlike a traditional corporation whose only legal duty is to maximize shareholder value, PBCs consider their public benefit purpose and the interests of those materially affected by the corporation’s conduct—including customers, employees, and the community—in addition to shareholders’ interests. In becoming a PBC, Veeva’s certificate of incorporation would be updated to include a public benefit purpose of helping make the industries it serves more productive and creating high-quality employment opportunities. This public benefit purpose aligns with Veeva’s focus on supporting life sciences companies in their mission to...

Total Revenues of $353.7M, up 33% Year-over-year; Subscription Services Revenues of $283.5M, up 30% Year-over-year Veeva Systems Inc. (NYSE: VEEV), a leading provider of industry cloud solutions for the global life sciences industry, today announced results for its fiscal second quarter ended July 31, 2020. “We are focused on helping the industry as the move to streamline drug development and enable digital engagement has gone from strategic imperative to operational necessity,” said CEO Peter Gassner. “Our team's dedication to customer success, bringing creative solutions, and delivering significant product innovations with speed, is more important than ever as life sciences steps up to meet the challenge of a lifetime.” Fiscal 2021 Second Quarter Results: Revenues : Total revenues for the second quarter were $353.7 million, up from $266.9 million one year ago, an increase of 33% year-over-year. Subscription services revenues for the second quarter were $283.5 million, up from $217.3...