Veeva Systems Inc. Class A

Hello, everyone. Thank you for joining us and welcome to the VEVA Systems Fiscal 2027 Second Quarter Results Conference Call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Gunnar Hansen, Senior Director, Investor Relations, Gunnar, please go ahead.

Good afternoon and welcome to VIVA's fiscal 2027 second quarter earnings conference call for the quarter ended July 31st, 2026. As a reminder, we posted prepared remarks on VIVA's investor relations website just after 1 p.m. Pacific today. We hope you've 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 Shawah, EVP Strategy, and Brian Van Wagener, our Chief Financial Officer. During this call, we may make forward-looking statements regarding trends, our strategies, and the anticipated performance of the business, including guidance regarding future financial results. These forward-looking statements will be used 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, August 26, 2026, based on the facts available to us today. If this call is replayed or reviewed after today, the information presented during the call may not contain current or accurate information. TV disclaims any obligation to update or revise any forward-looking statements. We may discuss 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 certain 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 presentations, 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. Q2 was another strong quarter, delivering results ahead of our guidance. Total revenue in the quarter was $928 million, with non-GAAP operating income of $416 million. Execution was exceptional this quarter, as we made strong progress in many key areas. It was our best CRM quarter ever. We also are accelerating rapidly in AI overall, and especially with Viva Falcon. and our focused acquisition strategy is working to bring great people and capabilities to Veeva. It's an exciting time. AI is enabling the next big chapter for Veeva and the industry. We'll now open up the call to your questions.