Vision and Strategy - Veeva is aiming for \$6 billion in revenue by 2030[8, 13], and is on track to achieve this goal[8, 13, 54, 66, 87] - The company estimates a \$20 billion+ total addressable market (TAM) in Life Sciences[10, 70], with approximately 16% penetrated as of FY26E[10, 70] - Veeva AI is expected to be a significant growth driver[8, 30, 53] Financial Performance and Guidance - Q3'26 total revenue guidance is \$790-\$793 million, with subscription revenue of approximately \$671 million[62] - Q3'26 non-GAAP operating income is projected at \$348-\$350 million, and non-GAAP fully diluted net income per share at \$1.94-\$1.95[62] - The company's revenue run rate today is \$3.2 billion, with a goal of \$6 billion by 2030[67] Market Segmentation and Growth - Biopharma accounts for 92% of Veeva's revenue, MedTech for 5%, and other industries for 3%[65] - The subscription revenue mix is currently 84%, with a target of approximately 87% by 2030[67] - Veeva is experiencing continued adoption in R&D, with an increasing number of customers using multiple products[94, 95]

Core Insights - Veeva Systems plans to launch Veeva AI Agents starting December 2025, with applications across commercial, R&D, and quality sectors by 2026 [1][4] - The AI Agents will utilize large language models from Anthropic and Amazon, hosted on Amazon Bedrock, allowing for custom agent creation [3] Group 1: Product Features - Veeva AI Agents are designed for specific, high-impact use cases, understanding the Veeva application context and having secure access to application data and workflows [2] - The integration of Veeva AI into the Veeva Vault Platform allows customers to configure and extend AI Agents, as well as build custom agents [2] Group 2: Strategic Goals - Veeva's CEO emphasizes that AI will transform drug development and treatment decision-making, aiming to enhance innovation and productivity in the industry [4] - The company serves over 1,500 customers, including major biopharmaceutical firms and emerging biotechs, highlighting its commitment to innovation and customer success [5] Group 3: Availability Timeline - The planned availability of Veeva AI Agents is as follows: - December 2025 for Vault CRM and PromoMats - April 2026 for Safety and Quality - August 2026 for Clinical Operations, Regulatory, and Medical - December 2026 for Clinical Data [8]

Core Insights - Veeva Systems has launched Veeva AI, an initiative to integrate AI into the Veeva Vault Platform and applications, aimed at automating industry-specific functions and enhancing productivity across various sectors from clinical to commercial [1][5] - Veeva AI utilizes large language models (LLMs) to create application-specific AI Agents and AI Shortcuts, enabling life sciences companies to streamline tasks and improve employee efficiency [1][2] Veeva AI Features - Veeva AI Agents can be quickly deployed with high impact due to their understanding of Veeva application context, application-specific prompts, and secure access to application data and workflows [2] - Customers have the flexibility to configure Veeva-delivered AI Agents or develop custom AI Agents tailored to specific use cases, accessible via a chatbot interface or AI API [2] User Empowerment - Veeva AI Shortcuts allow end users to set up personal AI-powered automations for frequent tasks, such as workflow assistance, generating insights, or conducting research [3] Strategic Vision - Veeva's CEO, Peter Gassner, emphasized that the integration of GenAI with core applications will significantly enhance productivity for knowledge workers by providing human-like capabilities to derive insights from complex data [4] - Veeva AI is designed to be LLM agnostic, supporting various major LLMs, and ensuring customer data security regardless of the LLM used [4] Market Positioning - The first release of Veeva AI is scheduled for December 2025, with a subscription model aimed at promoting broad and thoughtful industry adoption [5] - Veeva serves over 1,000 customers in the life sciences sector, including major biopharmaceutical companies and emerging biotechs, highlighting its leadership in cloud software solutions [6]