Veeva Systems Inc. Class A

Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. At this time, I'd like to welcome you to the VIVA Systems Fiscal 2026 Third Quarter Results Conference Call. All lines have been placed on mute to prevent any background noise. And after the speaker's remarks, there will be a question and answer session. If you'd like to ask a question at that time, please press star the number one on your telephone keypad. If you'd like to withdraw your question at any time, simply press star one again. I'd now like to turn the call over to Gunnar Hansen, head of investor relations. Please go ahead.

Good afternoon. Welcome to VIVA's fiscal 2026 third quarter earnings conference call for the quarter ended October 31st, 2025. As a reminder, we posted prepared remarks on VIVA's investor relations website just after 1 p.m. Pacific today. We hope you have had a chance to read them before the call. Today's call will be used primarily for Q&A. With me today for Q&A are Peter Gassner, our chief executive officer, Paul Shawa, EVP Strategy, and Brian Van Wagner, our Chief Financial Officer. During this call, we may make forward-looking statements regarding trends or strategies and the anticipated performance of the business, including guidance regarding future financial results. These forward-looking statements will be based on our current views and expectations and are subject to various risks and uncertainties. Our actual results may differ materially. Please refer to the risk listed in our earnings release and the risk factors included in our most recent filing on Form 10-Q. Forward-looking statements made during the call are being made as of today, November 20, 2025, based on the facts available to us today. If this call is replayed or viewed after today, the information presented during the call may not contain current or accurate information. Leave a disclaimer to any obligation to update or revise any forward-looking statements. We may discuss our guidance on today's call, but we will not provide any further guidance or updates on our performance during the quarter unless we do so in a public forum. On the call, we may also discuss our non-GAAP metrics that we believe aid in the understanding of our financial results. A reconciliation to comparable GAAP metrics can be found in today's earnings release and in the supplemental investor presentation, both of which are available on our website. With that, thank you for joining us, and I'll turn the call over to Peter.

Thank you, Gunnar, and welcome everyone to the call. We had an excellent Q3 with strength across the business and results above our guidance. Total revenue in the quarter was $811 million and non-GAAP operating income was $365 million. Viva AI is a major initiative for Viva and we're making excellent progress. We think Viva AI can be significant for customers, the industry, and Viva. We're also executing well and delivering significant innovation across all product areas, including vault CRM, cross-ex, clinical, and safety. We'll now open up the call to your questions.