Veeva reported strong Q3 FY2026 results, with total revenue of $811 million and raised full-year guidance. The call focused on the CRM top-20 attrition, the strong performance of Crossix, and the expanding Viva AI roadmap. Raised full-year revenue guidance driven by strong Q3 and better visibility.
Veeva reported strong Q3 FY2026 results, with total revenue of $811 million and raised full-year guidance. The call focused on the CRM top-20 attrition, the strong performance of Crossix, and the expanding Viva AI roadmap. Raised full-year revenue guidance driven by strong Q3 and better visibility.
Veeva reported strong Q3 FY2026 results, with total revenue of $811 million and raised full-year guidance. The call focused on the CRM top-20 attrition, the strong performance of Crossix, and the expanding Viva AI roadmap.
Raised full-year revenue guidance driven by strong Q3 and better visibility.
Management expressed strong enthusiasm for Viva AI, describing it as a major initiative that can be significant for customers, the industry, and Veeva. They are seeing customer demand for practical AI solutions that automate industry-specific applications, and they have…
Guidance · revenue to $0.8425B
Management expressed strong enthusiasm for Viva AI, describing it as a major initiative that can be significant for customers, the industry, and Veeva. They are seeing customer demand for practical AI solutions that automate industry-specific applications, and they have accelerated their agent roadmap to have agents in virtually all software applications by end of 2026. AI is expected to drive eff
Digital marketing spending increasing, benefiting Crossix. Management conveyed confidence through repeated emphasis on business health, innovation momentum, and long-term growth drivers, while acknowledging specific competitive losses but framing them as manageable.
Management conveyed confidence through repeated emphasis on business health, innovation momentum, and long-term growth drivers, while acknowledging specific competitive losses but framing them as manageable.
“It's not unforeseen that Cross-X can be as big as the whole CRM suite by 2030 as well.”
“So there's really a compounding effect of the excellence that we're developing in Cross-X.”
“there's two main solutions used out in that area, and they're both on-premise hosted solutions that are not modern, critically important, but not modern.”
“Now we are entering the age of AI, probabilistic computing, to really drive and change what a CRM system can do.”
“When you just intake a document and scanning through that and making sense of that with an agent, as an example, just replacing core human labor with agents.”
| 지표 | 기간 | 범위 | 중간값 | 상태 |
|---|---|---|---|---|
| Revenue | FY2026 Q4 | $0.84B–$0.845B | $0.8425B | RAISED |
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Merck is a strategic R&D customer, but the partnership is not a full-platform commitment, indicating potential for further expansion or limited scope.
“As it relates to Merck, there was a strategic partnership we announced. There was not really that they would use Viva everywhere, but a strategic partnership that we announced.”
Thanks for taking the question. We're continuing to get these wins in development cloud. We've started to start up and study training. For these clients, you know, I guess in development cloud, among the top 25, what's the average number of Viva development cloud products do they have on average? And where would you see as the tipping point? Because if I recall a couple years back, you know, there was an announcement that Mark was going to move to sort of a full Viva environment. over time, just trying to get a sense on what you would consider someone being sort of a full Viva on the R&D side. What does that look like?
Yeah. As it relates to Merck, there was a strategic partnership we announced. There was not really that they would use Viva everywhere, but a strategic partnership that we announced. Now, in terms of Development Cloud, I don't have any particular figures to share with you in terms of percentages or number of applications. It depends on area. So in the ETMF area, we actually have 20 out of the top 20 now that have selected us. That's really important. We can use that standardization to drive AI and industry standardization and help the industry and help the regulators. That's going on there. in then newer areas such as rtsm for the randomization and trial supplies management we don't have any top 20 that has selected this for an enterprise standard yet or an ecoa you know nobody yet because those are those are quite uh new and safety just a few so it just depends um we have A lot of, you know, we have definitely more opportunities to go in development cloud than we've consumed now. So surprisingly, it's still in the early days of development cloud for two reasons. One is these are super important systems that take time. You can't change them out all at once. You put them in, most of them, and you keep them for 15 years. The other is we're adding more applications. So RTSM is new. ECOA is new. The whole area of quality control, LIMS, is brand new. We just had our first early adopter in the top 20 for two manufacturing sites. So it's a lot more to do. I guess it's still early, surprisingly. These things take time.
Veeva's AI roadmap includes agents in all application areas by end of 2026, with a focus on replacing labor in processes like ETMF intake. — This illustrates the broader trend of AI-driven automation in clinical workflows, which could impact staffing and operational efficiency for pharma companies.
“They want to use Microsoft where Microsoft can help them.”
Okay, that's great, Collin. Thank you both. Maybe one on Viva AI. You had a few summits within the last quarter. I think you've also been making the rounds on forums, gathering feedback from your customers. I guess what stood out to you, both in terms of, I'll say, positive reception, but then also maybe Any pushback or things where you walk away and you have more, you know, you need to work on, you know, coming out of this initial experience with AI?
Well, I think our customers are, you know, they're looking for practical solutions now, right? They're looking for solutions that can add value, you know, rapidly sort of getting out of this experimentation phase. And they want to use partners where partners can help them. So they want to use Microsoft where Microsoft can help them. They want to use Entropic where Entropic can help them. And they know where Viva can help them is helping to automate industry-specific applications with AI, that deep domain knowledge and the business process consulting around it. So how do you enable insight generation in CRM through your field team by the use of compliant free text? OK, that's a that's a very specific thing. How do you dramatically increase the efficiency of safety case processing for adverse events? OK, that's a very specific. So that's what they're looking to us for. And that's what we deliver. That's what we specialize in terms of what they would like differently. You know, just like everybody else can, you know, can this be robust and promote proven and and working tomorrow for all cases? And so they just want us to go faster, but there's really rampant alignment on directions. Viva is setting out to do exactly what they want Viva to do. We just have to get there. And the customers also have to be able to adopt and do that change management work, which is that's not easy either. That's not going to happen overnight. That's one of our advantages is we have a great business consulting team. So we have that integrated together, our product team, our selling team, and our business consulting team to deliver AI value. That's going to be more holistic than others. And that's how you're going to have to do it in industry-specific solutions. The customers are not going to want to knit together consulting over here and software over there and AI over here. They're not going to want to do that over the long term.
Veeva expects Crossix to potentially match the size of the entire CRM suite by 2030, signaling significant growth in digital marketing measurement. — This implies that the shift to digital marketing measurement is accelerating at the expense of traditional CRM spend, impacting both IQVIA and Salesforce.
Very helpful. Thank you. And maybe a quick follow-up on your sales pipeline. I'm curious, a couple of comments here. First, I think historically, Peter, you've called out safety and regulatory as, you know, potentially having a little bit less of a predictable sales cycle, maybe a bit longer than usual. Any changes there from customers in the sales pipeline on those products? And then maybe related to this, I'm just curious, are you seeing anything coming from IQVIA partnership, any clients potentially coming through that pipeline?
Thanks. Yeah, for safety and regulatory, they are, especially in the large companies. Those are usually long sales cycles. Customers know they're making 10-year decisions plus. So these are very serious ones. So I don't see any change there. We have a lot of momentum in the safety area. That's one thing I would say. And then the AI and safety can kind of be a game changer as well. So that might drive a little faster adoption there. And in terms of IQIA, it's been great having that partnership. The revenue impact takes a while to see on these partnerships, but the positive customer experience is really heartening. I think it's giving IQVIA a little spring in their step, this partnership with Viva. It's certainly giving Viva a spring in our step, this partnership with IQVIA. the very positive macro-level trend for the business, especially on the commercial side. The two big macro-level positive trends for us on the commercial side, or three, are this increasing investment in digital and AI. You see CrossFix taking advantage of that, and you'll see other things from Viva over the time, right, where a lot of our revenue and our future things will come as it relates to digital. the IQVIA partnership, making the interop more easier. That will help our data business, that will help our software business, and then the freedom that we're getting to develop our solutions without having to worry about the Salesforce platform and the limitations. All of these things are really going to be unleashing us on the William Blair, commercial side and then for it to be on the clinical side that's been great to just more customer confidence in viva and IQ via can can bring solutions to our joint customers.
Veeva says customers are beginning to see 'compounding' value from cross-X as digital marketing spend grows, particularly with new digital channels. — This suggests increased demand for ad-tech and analytics platforms that can measure digital pharma marketing, benefiting Google's ad network and potentially pressuring traditional media.
Hi. Good afternoon. Thank you. For Paul and Peter, I wanted to get your thoughts on, the risk that the CRM market becomes more competitive over time. For example, could the large competitor that has six out of the top 20, could they use that as a beachhead to expand their presence with time with a roadmap that will improve over time? Or for example, the 14 that have committed to Viva, could they be thinking about the structure of the ecosystem changing? So for example, a year from now, three years from now, Because they can set a competition. So maybe just give us a little bit of a sense of your conviction on the long term and how Viva can continue to have the dominant position that it has…
Yeah, so as we think about other areas in commercial, they're generally separate decisions from CRM. Um, you know, the, the people who make decisions around vault CRM are generally different than commercial content and cross six and data cloud. Now we've actually done something unique and we've, we've connected all of those pieces together. One of the reasons we moved to vault CRM is to make it feel more like development cloud. So when you buy into Viva, you have these really mission critical areas, cross six, you're seeing how important that is commercial content that we have all plumbed up together. So we create a lot of value. So I think the customers that do decide to buy into Vault and Viva will get additional value. The synergy of having everything on common platform where they know everything is just going to work together. We've made a long-term commitment to life sciences. I think what we're seeing Salesforce is kind of just entering. They have a very new product in the CRM space. They don't have everything that we've talked about, all of the other software products, commercial content, across X business, all of the data assets, what Peter has talked about earlier with business consulting. So we're building just something that's fundamentally very different than what Salesforce is trying to do. So I think that's a very significant competitive advantage for us. And I think that's why we feel really confident about our long-term market position. Because one, we're going to have a better CRM and a CRM suite area, but it's all going to be connected together and building the industry cloud, bringing all of those pieces together. So I feel good about the competitive position. I'm happy with where it's shaking out. Obviously, we love to win every customer, but we're executing well, really, across all the commercial.
Veeva's new LIMS (laboratory information management) product aims to disrupt a market dominated by legacy, on-premise solutions, with a greenfield opportunity as new manufacturing plants are built. — This could signal a long-term shift in lab software spending, impacting legacy providers and potentially benefiting Veeva's growth.
Yeah, good afternoon. Thanks for taking the question. I want to ask about the comments and the prepared remarks on the quality cloud opportunity expanding. Is that expansion by reaching new customer types or more of a reference to product expansion? And just any further remarks on specific drivers of your success in quality and with labs and CDMOs would be helpful. Thanks.
Yeah, I'll take that one. This is Peter. It's, you know, quality is one of these areas where we can reach a lot of customers, a lot of different customers, CDMOs, you know, other regulated, highly regulated services, industries that are close to life sciences. Our success has been we have three main core products all on a common platform. We have the quality documentation, which is used mainly in manufacturing and here in Europe. Stephen Konyaard- standard operating procedures and your changes around that your quality management system for. Stephen Konyaard- deviations and CAPAs etc and your GXP training your validated training environment so we're the only vendor that has all those three all on a common platform. Stephen Konyaard- So that's what's really driving a lot of the growth, in addition, we have some new products their batch release and and computer systems validation. And we're very excited about LIMS. We announced that early customer in LIMS, laboratory information management. That's used to test the medicine as it's being manufactured. And that's a growth area because there's new manufacturing plants being built for a variety of reasons, let alone political reasons, et cetera. So new manufacturing plants being built. And the medicine and the manufacturing of these medicines is becoming more extensive and more complicated. And there, there's two main solutions used out in that area, and they're both on-premise hosted solutions that are not modern, critically important, but not modern. So we have a real greenfield opportunity there. If you look at life sciences, they will Generally, they will research and find a molecule. They will run clinical trials. They will commercialize the product. But along the way, before they put that medicine even in the first human, they have to manufacture it first in a small volume and then in a large volume. And so that manufacturing area is critically important. And you're manufacturing something that's going to be either ingested by a human or put right into their bloodstream. So it's super important how you do that. So it's a great growing area for us, quality in the manufacturing space.
Veeva says customers are beginning to see 'compounding' value from cross-X as digital marketing spend grows, particularly with new digital channels. — This suggests increased demand for ad-tech and analytics platforms that can measure digital pharma marketing, benefiting Google's ad network and potentially pressuring traditional media.
Yes, thanks for taking my questions. Well, first, a follow-up on Crosslix. I'm just curious, given the regulatory focus on direct-to-consumer advertising, have you seen any changes in where audience targeting is happening on the platforms? Is it changing at all?
Yeah, I'll take that one, Paul. I think the thing that when I was listening about CrossX, the thing to know is that digital, overall digital marketing spending is going up, both in consumer and in HCP, because there's better digital avenues to reach people. And you're seeing that with things like open evidence and Doximity's new AI offering, right? So there's increasing effective use of that channel. And then with CrossX, specifically what's going on is As that channel gets more important, measurement and audiences and optimization get more and more important. That's one thing. And Cross-X is becoming more of a standard. So there's really a compounding effect of the excellence that we're developing in Cross-X. You know, Cross-X will be, you know, that's going to be a well-growing business for us. You know, you should think of that as a well-growing business for the foreseeable future. You know, three, four, five years type of thing. This is, we've put some serious innovation in Cross-X over the past years. Um, we've invested heavily in the data network because that's a data network that we share with, with, um, with Compass, Compass and Cross-X share that data network. Uh, so it's, um, digital is becoming more important, uh, not less important. The other, you will see maybe regulations around consumer TV ads, but overall, Digital is growing. It's a very effective means to meet people, and you need to measure and optimize that, and that's what CrossFix does.
Veeva is entering the 'age of AI' for CRM and expects 'probabilistic computing' to change what a CRM system can do, suggesting a significant product transition ahead. — This indicates that Veeva is pivoting its commercial suite towards AI-driven agents and insights, potentially reshaping competitive dynamics in the software space.
Yeah, thanks for taking the question. I guess for me, my primary question was also going to be on your comments about the unique customer-specific factors driving a few less of the Vault CRM wins. I see you talked about that already. But really, my quick follow-up question is, since it sounds like it really is truly scattered across these customer-specific factors, are there any learnings for Viva from all of this, either on Vault CRM product design or on pricing, or does Viva not really change anything going forward? on the go-to-market strategy, just in the back of all those. Thanks.
Oh, that's a good question on the learnings. Yeah, we did look through that. No, I think, A, we did things the way we wanted to do things with customer success in mind, and we've gotten our top 20s live. And I guess we thought more customers would, 90% of customers maybe would put weight on that, and some customers didn't. They just wanted to try something new. No particular learning. I would say there's a lot of enthusiasm around the Viva team, the product and the services team, because it's kind of distracting to try to resell all those top 20 customers all at once, right, in a very short period of time. And you're competing with a product that doesn't really exist yet and a lot of promises and things like that. So that's kind of distracting a little bit. But we're largely through that. So now we used to have 18 out of the top 20. Now we're maybe going to have 14 or so. And now it's back to business as usual and really focusing on those customer success, but with a difference. Now we are entering the age of AI, probabilistic computing, to really drive and change what a CRM system can do. So that's giving people a lot of excitement. You know, the vault CRM of 26 and 27 and 28, that's not going to be like the Viva CRM of 2022 and 2023. So that's where the real excitement is.