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Veeva Systems Inc. is a leading provider of industry cloud solutions specifically designed for the global life sciences industry. The company offers cloud software, data, analytics, professional services, and business consulting to help life sciences companies develop and bring products to market more efficiently, market and sell more effectively, and maintain compliance with government regulations . Veeva's solutions are organized into major product categories that address various business functions from research and development to commercialization .
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Commercial Solutions - Includes Veeva Commercial Cloud, Veeva Data Cloud, and Veeva Claims solutions, helping life sciences companies engage with healthcare professionals and organizations, and execute effective marketing campaigns .
- Veeva Commercial Cloud - Facilitates intelligent engagement across multiple communication channels.
- Veeva Data Cloud - Provides data management and analytics capabilities.
- Veeva Claims - Supports compliance and marketing claims management.
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R&D Solutions - Comprises Veeva Development Cloud, Veeva RegulatoryOne, and Veeva QualityOne solutions, streamlining product development processes and maintaining regulatory compliance .
- Veeva Development Cloud - Enhances clinical, regulatory, quality, and safety functions.
- Veeva RegulatoryOne - Manages regulatory documents and trial information.
- Veeva QualityOne - Ensures quality management throughout the product lifecycle.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Peter P. Gassner ExecutiveBoard | CEO and Director | Board Member at Zoom Video Communications, Inc. | Co-founder of Veeva Systems (2007), instrumental in establishing Veeva as a leader in cloud-based software for life sciences. Former SVP at Salesforce and Chief Architect at PeopleSoft. | View Report → |
Brian Van Wagener Executive | Chief Financial Officer (CFO) | None | Rejoined Veeva in 2024 as EVP, Finance, and promoted to CFO. Previously held roles at BetterUp, Frontier Communications, and Monitor Deloitte. | |
E. Nitsa Zuppas Executive | President and Chief of Staff | None | Joined Veeva in 2013 as CMO. Transitioned to President and Chief of Staff in 2024. Played a key role in Veeva's marketing and brand growth. | |
Jonathan (Josh) Faddis Executive | SVP, General Counsel, and Corporate Secretary | None | Joined Veeva in 2012. Oversees legal and corporate governance. Former General Counsel at Taleo Corporation and practiced law at Fulbright & Jaworski LLP. | |
Thomas D. Schwenger Executive | President and Chief Customer Officer | None | Joined Veeva in 2019. Former President and COO. Leads sales and services organizations. Previously held leadership roles at Accenture for 30 years. | |
Gordon Ritter Board | Chair of the Board | General Partner at Emergence Capital Partners | Founding partner of Emergence Capital. Co-founded and led multiple companies, including Whistle Communications (acquired by IBM). | |
Marshall Mohr Board | Independent Director | Board Member at Pacific Biosciences of California, Inc. | Former CFO of Intuitive Surgical. Extensive experience in finance and governance. | |
Mary Lynne Hedley Board | Independent Director | Board Member at Eli Lilly and Company, Centessa Pharmaceuticals plc | Venture Partner at Third Rock Ventures. Senior Scientific Fellow at Broad Institute. Extensive experience in biotech and life sciences. | |
Matthew J. Wallach Board | Independent Director | Board Member at HealthVerity, Inc. | Co-founder of Veeva Systems. Former President (2007\u20132019). Deep knowledge of Veeva's business and life sciences technology. | |
Paul Sekhri Board | Independent Director | CEO of vTv Therapeutics Inc.; Board Member at Longboard Pharmaceuticals, Compugen Ltd., AdhereTech, Spring Discovery, and eGenesis | Extensive leadership in biotech and pharmaceuticals. Former CEO of Lycera Corp. and eGenesis. | |
Priscilla Hung Board | Independent Director | Board Member at Waystar Holding Corp. and Ethos Technologies Inc. | Former President and COO of Guidewire Software. Expertise in business development and public company governance. | |
Tina Hunt Board | Independent Director | EVP, Strategy, Sector Development, and Global Operations at IDEXX Laboratories | Extensive experience in life sciences R&D, ESG, and cybersecurity. Held leadership roles at IDEXX Laboratories and Woodard & Curran. |
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With the migration from Veeva CRM on Salesforce to Vault CRM progressing slowly and significant margin improvements spread out until 2030, can you provide more precise timelines on when investors can expect to see a noticeable impact on gross margins due to reduced Salesforce royalties?
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Despite announcing your pivot toward horizontal enterprise applications, you've yet to share a concrete product strategy or timeline; when can we expect more detailed information on the specific application areas or customer segments you plan to target, and how will this diversification impact your core life sciences focus?
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Given that clinical trial starts have been increasing globally over the past two quarters, how is Veeva leveraging this trend within your Development Cloud offerings, and are you seeing a corresponding uptick in demand that aligns with these industry metrics?
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You mentioned having only marginally better visibility into fiscal 2026 compared to prior years; given the uncertain macro environment, what factors are limiting your ability to forecast more confidently, and how are you addressing potential risks to maintain your growth trajectory?
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With CRO revenue remaining approximately 5% of total revenue and not materially changing, what strategies are you implementing to accelerate growth in this segment, and how critical do you view CRO partnerships to your long-term growth plans?
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Customer 1 | Key life sciences customer | All | Accounts Receivable: ~$102.65 million (10.1% of total AR as of Jan 31, 2025). Calculation: 1,016.356 (in millions) × 10.1% = 102.65. |
Recent press releases and 8-K filings for VEEV.
- Veeva detailed its ambitious goal to increase its revenue run rate from $3 billion to $6 billion by 2030, targeting roughly 13% annual growth.
- The discussion emphasized strategic product evolution, including the migration from Viva CRM to Vault CRM, expansion into life sciences R&D suites, and advancements in marketing analytics via Crossix and Data Cloud.
- Capital allocation plans were highlighted, with a strong cash position of $6 billion earmarked primarily for disciplined M&A to expand into new markets.
- Market Leadership: Veeva highlighted its position as the leading provider of cloud software for life sciences, with over 50 applications across R&D and commercial sectors and dominant market share in categories such as eTMF (19 of 20).
- Revenue Targets: The company reported having achieved its $3B revenue target for 2025 and outlined an aggressive vision to double its revenue to $6B, targeting approximately $4B from R&D and $2B from commercial segments.
- CRM Platform Migration: Veeva detailed its strategic shift away from Salesforce to its own Vault CRM platform, aimed at simplifying commercial systems, unlocking new markets, and enhancing product integration.
- Data and AI Initiatives: The discussion covered the strong growth trajectory of acquired platforms like Crossix and COMPASS, and the rollout of Gen AI applications on the Vault platform to drive innovation and efficiency.
- Q1 2026 Financials: Reported $759 million revenue and a 46% non-GAAP operating margin, achieving a calendar 2025 revenue run rate of $3 billion.
- Vault CRM Momentum: Anticipates about 200 customers live on Vault CRM over the next year, with roughly half coming from migrations.
- New Product Initiatives: Emphasized the evolving Veeva AI initiative and planned entry into the horizontal CRM market with first customers expected by year-end.
- Crossix Growth: Highlighted strong performance in the Crossix business, with usage-driving expansion and expected 30%+ year-over-year growth.