$VEEV Veeva Systems Q2 2026 Earnings Conference Call

This video presents the Veeva Systems fiscal 2026 second quarter earnings conference call, offering a comprehensive update on the company's strategic direction, product advancements, and market performance within the life sciences industry. Key discussions revolved around the transformative potential of Veeva AI, the significant implications of resolving a long-standing lawsuit with IQVIA, and the continued momentum of Vault CRM and other cloud offerings. Management emphasized a vision where industry-specific software, data, and business consulting converge, with AI agents playing a pivotal role in enhancing efficiency and effectiveness across commercial, R&D, and quality operations, all while maintaining a focus on regulatory compliance.

Key Takeaways:

• Transformative AI Strategy: Veeva is making rapid progress on "Veeva AI," deeply embedding agentic AI into its Vault platform to create industry-specific agents. This is expected to be transformative for both Veeva and the life sciences industry, offering billions of dollars in value through increased human efficiency and automation of tasks, though material revenue contribution is not expected until 2027 or later.
• IQVIA Lawsuit Resolution Unlocks Commercial Cloud: The resolution of the 10-year dispute with IQVIA removes "artificial barriers" that previously hindered Veeva's commercial cloud. This allows for the integration of industry-leading IQVIA data into Veeva Networks and Nitro, making these commercial analytics offerings practical and enabling a more "wholesome" solution that is expected to drive broader adoption of Veeva's commercial suite.
• Strong Vault CRM Momentum: Veeva reports significant competitive success in the CRM market, with 9 top 20 pharma companies committed to Vault CRM, compared to Salesforce's 3. Two top 20 customers are already live in major markets, demonstrating proven implementation capabilities and a faster time-to-value compared to Salesforce's longer project timelines.
• Agentic AI Interoperability: Veeva is architecting its AI agents to enable seamless communication and interoperability between agents within the Veeva ecosystem and with agents from other enterprise systems like SAP, Workday, or Microsoft. This "agent-to-agent interoperability" is highlighted as a less brittle and highly beneficial approach for cross-system workflows.
• Business Consulting Critical for AI Adoption: The company stresses that every AI project is inherently a business consulting project, as it involves redefining workflows and the division of labor between humans and AI agents. This positions Veeva's business consulting services as a crucial component for successful AI implementation and change management within customer organizations.
• Broad-Based Growth Across Clouds: Beyond commercial, Veeva sees continued strong execution and pipeline build in R&D subscriptions. Quality Cloud is also receiving elevated focus, with expansion into areas like Laboratory Information Management Systems (LIMS) and batch release, indicating its potential as a significant growth driver.
• Crossix Driving Commercial Growth: Veeva's Crossix product continues to be a meaningful driver of commercial growth, showing strong performance in both its measurement business and the higher-growth audiences segment. This growth is attributed to increasing market share and expanding product footprint, particularly in HCP marketing.