Description

Veeva Systems: A Unified Cloud Stack Strategy Linking Safety, Development, & Commercial Execution!

Veeva Systems reported strong fiscal third-quarter results for 2026, exceeding guidance with total revenue reaching $811 million and non-GAAP operating income of $365 million. The company is making substantial progress with Veeva AI and is introducing significant innovations across its product lines, including Vault CRM, Crossix, Clinical, and Safety. On the CRM front, Veeva stated that 14 of its top 20 customers indicate a migration to Vault CRM, while six are considering other solutions. The CRM business, which represents 20% of Veeva’s total revenue, has seen a decline from 25% two years ago, indicating growth in other Veeva products. The company is confident in potentially winning back these six customers over time. Despite the potential attrition, the broader customer base of about 400 clients suggests continued strength in the CRM business, particularly among smaller customers who prefer standardized solutions over custom-built ones.