Veeva Systems Inc. (VEEV): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama en rápida evolución de la tecnología de ciencias de la vida, Veeva Systems Inc. (VEEV) surge como una fuerza transformadora, revolucionando cómo las organizaciones farmacéuticas y de atención médica administran desafíos operativos complejos. Al elaborar soluciones innovadoras basadas en la nube que integran perfectamente el cumplimiento regulatorio, la gestión de datos y las capacidades de software empresarial, Veeva se ha posicionado como un facilitador crítico de la transformación digital en una industria tradicionalmente vinculada por estrictos marcos regulatorios y requisitos tecnológicos complejos. Esta exploración del lienzo de modelo de negocio de Veeva presentará la arquitectura estratégica que ha impulsado a esta notable empresa a convertirse en una piedra angular de la innovación tecnológica en el ecosistema de la vida de las ciencias de la vida.

Veeva Systems Inc. (VEEV) - Modelo de negocios: asociaciones clave

Empresas farmacéuticas y de ciencias de la vida

La principal base de clientes de Veeva incluye las principales compañías farmacéuticas como:

Compañía	Detalles de la asociación
Pfizer	Cliente empresarial desde 2007
Novartis	Implementación global de CRM e soluciones clínicas
Johnson & Johnson	Implementación integral de soluciones basadas en la nube

Proveedores de servicios en la nube

Las asociaciones de infraestructura en la nube de Veeva incluyen:

• Amazon Web Services (AWS): proveedor primario de infraestructura en la nube
• Microsoft Azure: soporte de plataforma en la nube secundaria
• Plataforma en la nube de Google: asociación adicional de infraestructura en la nube

Socios de implementación de software empresarial

Pareja	Alcance de implementación
Acentuar	Servicios de implementación global
Deloitte	Integración del sistema de nivel empresarial
Kpmg	Implementación de cumplimiento regulatorio

Consultores de cumplimiento regulatorio de la salud

• Consultores regulatorios de la FDA
• EMA (Agencia Europea de Medicamentos) Socios de cumplimiento
• Especialistas de cumplimiento de HIPAA

Instituciones académicas e de investigación

Institución	Enfoque de colaboración
Universidad de Stanford	Desarrollo de tecnología de investigación clínica
MIT	Análisis de datos e investigación de IA
Universidad de Johns Hopkins	Investigación informática de atención médica

Asociaciones totales a partir de 2024: más de 850 clientes empresariales globales en sectores farmacéuticos, biotecnología y de atención médica

Veeva Systems Inc. (VEEV) - Modelo de negocio: actividades clave

Desarrollo de soluciones de software basadas en la nube para la industria de ciencias de la vida

Veeva desarrolla plataformas especializadas de software en la nube específicamente para empresas farmacéuticas, biotecnológicas y de ciencias de la vida. A partir del cuarto trimestre de 2023, las soluciones de software de Veeva sirven a más de 1.100 clientes a nivel mundial.

Categoría de productos	Número de clientes	Ingresos anuales (2023)
Plataforma de bóveda Veeva	875	$ 1.78 mil millones
Nube comercial de veeva	525	$ 990 millones

Innovación e investigación de productos continuos

Veeva invirtió $ 494.2 millones en investigación y desarrollo en el año fiscal 2024, que representa el 24.3% de los ingresos totales.

• Equipos de desarrollo de software ubicados en múltiples oficinas globales
• Centros de innovación dedicados en Estados Unidos y Europa
• Promedio de 12-15 características de nuevo producto lanzadas trimestralmente

Gestión y apoyo de la relación con el cliente

Veeva mantiene una infraestructura integral de atención al cliente con Global Reach.

Métrico de soporte	Actuación
Tasa de retención de clientes	94%
Tiempo de respuesta promedio	2.5 horas
Canales de soporte	Teléfono, correo electrónico, portal en línea, chat en vivo

Desarrollo de software de cumplimiento regulatorio

Veeva se especializa en la creación de software que ayude a las empresas de ciencias de la vida a cumplir con los requisitos regulatorios complejos en múltiples jurisdicciones.

• Soluciones de cumplimiento que cubren la FDA, EMA y los estándares regulatorios internacionales
• Equipo de ingeniería de cumplimiento regulatorio dedicado de 185 especialistas
• Actualizaciones continuas para mantener la alineación con las regulaciones cambiantes

Servicios de análisis de datos e informes

VeEVA proporciona capacidades de análisis avanzadas integradas dentro de sus plataformas en la nube.

Característica de análisis	Capacidad
Informes en tiempo real	99.9% de tiempo de actividad
Velocidad de procesamiento de datos	1.2 millones de registros por minuto
Seguimiento de cumplimiento	Más de 250 plantillas de informe predefinidas

Veeva Systems Inc. (VEEV) - Modelo de negocio: recursos clave

Talento especializado de ingeniería de software

A partir del cuarto trimestre de 2023, Veeva Systems empleó a 1.850 empleados a tiempo completo con una tenencia promedio de 5.2 años. La fuerza laboral de ingeniería de la compañía comprende el 62% del total de empleados, que representa aproximadamente 1,147 ingenieros de software especializados.

Categoría de empleado	Número	Porcentaje
Total de empleados	1,850	100%
Ingenieros de software	1,147	62%
Promedio de la tenencia del empleado	5.2 años	N / A

Plataformas de tecnología basadas en la nube patentadas

La infraestructura tecnológica de Veeva incluye:

• Plataforma Veeva Vault: Apoyo a más de 1.200 compañías de ciencias de la vida
• Veeva CRM: utilizado por más de 700 organizaciones farmacéuticas
• Infraestructura en la nube con una garantía de tiempo de actividad del 99.9%

Experiencia en la industria de la salud y la industria farmacéutica

Veeva atiende a 1.025 compañías de ciencias de la vida a nivel mundial, con una experiencia de dominio profunda en sectores farmacéuticos, biotecnología y de dispositivos médicos.

Cartera de propiedades intelectuales

Categoría de IP	Recuento total
Patentes totales	237
Marcas registradas	89
Copyrights de software	126

Base de datos y red de clientes

La red de clientes de Veeva incluye:

• 1.025 compañías de ciencias de la vida
• Presencia global en 45 países
• Tasa de retención de clientes: 95%

Inversión financiera en recursos: En 2023, Veeva invirtió $ 352 millones en investigación y desarrollo, lo que representa el 22% de los ingresos anuales totales.

Veeva Systems Inc. (VEEV) - Modelo de negocio: propuestas de valor

Soluciones de nube integrales para empresas de ciencias de la vida

Veeva Systems proporciona soluciones de software basadas en la nube diseñadas específicamente para la industria de las ciencias de la vida. A partir del cuarto trimestre de 2023, la compañía informó:

Categoría de productos	Total de clientes	Ingresos recurrentes anuales
Nube comercial de veeva	875 clientes	$ 1.06 mil millones
Plataforma de bóveda Veeva	1.050 clientes	$ 1.24 mil millones

Gestión de cumplimiento regulatorio optimizado

Veeva ofrece soluciones de cumplimiento especializadas con las siguientes características clave:

• FDA 21 CFR Parte 11 Software compatible
• Seguimiento y gestión de documentos en tiempo real
• Sistemas de flujo de trabajo de cumplimiento automatizado

Eficiencia operativa mejorada para organizaciones de atención médica

Métricas de eficiencia operativa para las soluciones de Veeva en 2023:

Métrica de eficiencia	Actuación
Reducción de costos promedio	32% para operaciones clínicas
Tasa de automatización de procesos	48% entre clientes empresariales

Gestión de datos integrados y análisis

Las capacidades de gestión de datos de Veeva incluyen:

• Veeva Vault Data Cloud Procesamiento de 12.5 petabytes de datos clínicos anualmente
• Análisis en tiempo real con una precisión del 99.9% de los datos
• Integración con el 85% de las compañías farmacéuticas globales

Soluciones de software empresariales escalables y seguras

Seguridad de software empresarial y métricas de escalabilidad para 2023:

Parámetro de seguridad	Actuación
Tiempo de actividad del sistema	99.99%
Centros de datos globales	7 centros redundantes
Base de clientes empresariales	325 compañías farmacéuticas globales

Veeva Systems Inc. (VEEV) - Modelo de negocios: relaciones con los clientes

Equipos dedicados de éxito del cliente

Veeva Systems mantiene más de 1,700 profesionales dedicados de éxito del cliente a partir del cuarto trimestre de 2023. Estos equipos atienden a más de 1,000 ciencias de la vida y clientes de atención médica a nivel mundial.

Segmento de clientes	Gerentes de éxito dedicados
Compañías farmacéuticas	850
Empresas de biotecnología	450
Compañías de dispositivos médicos	400

Soporte técnico y capacitación continuos

Veeva proporciona soporte técnico 24/7 con tiempos de respuesta con un promedio de 2.5 horas. Las sesiones de capacitación anual superan los 5,000 eventos individuales de capacitación al cliente.

• Canales de soporte: teléfono, correo electrónico, chat en vivo
• Horas promedio de capacitación anual: más de 15,000 horas de capacitación del cliente
• Programas de certificación: 3 niveles de certificación profesional

Actualizaciones y mejoras de productos regulares

Veeva lanza 3-4 actualizaciones principales de software anualmente, con un 98% de calificación de satisfacción del cliente para mejoras de productos.

Actualización de frecuencia	Número de actualizaciones
Lanzamientos principales	3-4 por año
Lanzamientos menores	8-10 por año

Servicios de consulta personalizados

Veeva ofrece Servicios de consulta específicos de la industria con más de 250 consultores senior especializados en transformación digital de ciencias de la vida.

• Tipos de consulta: planificación estratégica, implementación de tecnología
• Duración de consulta promedio: 6-12 meses
• Cobertura de consulta: 35 países

Plataformas de intercambio de conocimientos y comunidad de usuarios

La plataforma de la comunidad de clientes de Veeva aloja más de 25,000 usuarios profesionales activos con más de 98,000 artículos de base de conocimiento.

Métricas de la comunidad	Cantidad
Usuarios activos	25,000+
Artículos de base de conocimiento	98,000+
Interacciones comunitarias anuales	175,000+

Veeva Systems Inc. (VEEV) - Modelo de negocios: canales

Fuerza de ventas directa

Veeva Systems emplea una fuerza de ventas directa de 2,187 representantes de ventas a partir del cuarto trimestre de 2023. El equipo de ventas genera $ 2.16 mil millones en ingresos recurrentes anuales para el año fiscal 2023. La productividad promedio representativa de ventas alcanza $ 987,000 por representante anual.

Métrico de ventas	Valor
Representantes de ventas totales	2,187
Ingresos recurrentes anuales	$ 2.16 mil millones
Productividad promedio de representantes de ventas	$987,000

Plataformas digitales en línea

Los canales digitales de Veeva incluyen:

• Sitio web de Veeva.com con 1.2 millones de visitantes mensuales únicos
• Plataforma CRM basada en la nube con 875,000 usuarios de empresas activas
• Catálogo de productos digitales con 3.500 descripciones de productos detallados

Conferencias de la industria y ferias comerciales

Veeva participa en 42 conferencias de la industria anualmente, con un alcance estimado de 65,000 profesionales de ciencias de la vida. Los clientes potenciales generados por la conferencia representan el 18% de la tubería total de ventas.

Métrico de conferencia	Valor
Conferencias anuales a las que asistió	42
Alcance profesional	65,000
Contribución de la tubería de ventas	18%

Redes de referencia de socios

Veeva mantiene 276 socios activos de tecnología e implementación. Los ingresos de origen socio representan el 22% de los ingresos totales de la compañía, aproximadamente $ 498 millones en el año fiscal 2023.

Demostraciones de productos basadas en la web

Las demostraciones de productos digitales incluyen:

• 365 videos de demostración de productos a pedido
• Serie seminaria semanal en vivo con 4,500 asistentes promedio
• Plataforma de simulación de productos interactivos con 92,000 usuarios registrados

Métrica de demostración web	Valor
Videos de demostración a pedido	365
Asistentes semanales de seminarios web	4,500
Usuarios de plataforma interactiva	92,000

Veeva Systems Inc. (VEEV) - Modelo de negocios: segmentos de clientes

Compañías farmacéuticas

A partir de 2024, Veeva atiende a 1.025 compañías farmacéuticas a nivel mundial, incluidas 21 de las 25 principales empresas farmacéuticas.

Segmento de mercado	Número de clientes	Contribución de ingresos
Top 25 compañías farmacéuticas	21	52.3% de los ingresos del segmento farmacéutico
Compañías farmacéuticas de tamaño mediano	374	32.7% de los ingresos del segmento farmacéutico
Pequeñas compañías farmacéuticas	630	15% de los ingresos del segmento farmacéutico

Empresas de biotecnología

Veeva apoya 685 firmas de biotecnología en diversas investigaciones y etapas comerciales.

• Firmas de biotecnología en etapa temprana: 287
• Firmas de biotecnología de la etapa media: 263
• Firmas de biotecnología en etapa tardía: 135

Fabricantes de dispositivos médicos

En 2024, Veeva sirve a 412 fabricantes de dispositivos médicos.

Categoría de dispositivo	Número de clientes
Grandes compañías de dispositivos médicos	87
Compañías de dispositivos médicos de tamaño mediano	215
Pequeñas compañías de dispositivos médicos	110

Organizaciones de investigación clínica

Veeva colabora con 276 organizaciones de investigación clínica a nivel mundial.

• Global Cros: 42
• Cros regionales: 134
• Cros especializados: 100

Proveedores de tecnología de la salud

Veeva apoya a 213 proveedores de tecnología de salud en 2024.

Tipo de proveedor de tecnología	Número de clientes
Plataformas de salud digital	89
Proveedores de software de salud	124

Veeva Systems Inc. (VEEV) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2024, Veeva Systems asignó $ 548.2 millones a los gastos de investigación y desarrollo, lo que representa el 24.3% de los ingresos totales.

Año fiscal	Inversión de I + D	Porcentaje de ingresos
2024	$ 548.2 millones	24.3%
2023	$ 492.7 millones	22.8%

Gastos de ventas y marketing

Veeva Systems incurrió en $ 621.3 millones en gastos de ventas y marketing para el año fiscal 2024, lo que representa el 27.5% de los ingresos totales.

• CUADRO TOTAL DEL EQUIPO DE VENTAS: 1.872 empleados
• Costo promedio de ventas y marketing por empleado: $ 331,600

Mantenimiento de la infraestructura en la nube

La infraestructura en la nube y los costos de tecnología para Veeva Systems en 2024 fueron de aproximadamente $ 187.6 millones.

Categoría de costos de infraestructura	Gasto anual
Alojamiento en la nube	$ 98.4 millones
Infraestructura de red	$ 54.2 millones
Seguridad y cumplimiento	$ 35.0 millones

Compensación y beneficios de los empleados

La compensación total de los empleados para los sistemas Veeva en el año fiscal 2024 fue de $ 732.5 millones.

• Total de empleados: 6,124
• Compensación anual promedio por empleado: $ 119,600
• Compensación basada en acciones: $ 187.3 millones

Innovación y actualizaciones de productos continuos

El desarrollo de productos e inversiones de innovación totalizaron $ 276.4 millones en 2024.

Categoría de innovación	Monto de la inversión
Desarrollo de software	$ 198.6 millones
Mejora del producto	$ 77.8 millones

Veeva Systems Inc. (VEEV) - Modelo de negocios: flujos de ingresos

Licencias de software basadas en suscripción

Veeva Systems generó $ 2.213 mil millones en ingresos totales para el año fiscal 2024. Los ingresos por suscripción representaron $ 1.92 mil millones, lo que representa aproximadamente el 86.7% de los ingresos totales de la compañía.

Tipo de ingresos	Cantidad (2024)	Porcentaje
Ingresos por suscripción	$ 1.92 mil millones	86.7%
Ingresos de servicios profesionales	$ 293 millones	13.3%

Servicios profesionales y consultoría

Los ingresos por servicios profesionales para Veeva Systems alcanzaron $ 293 millones en el año fiscal 2024, cubriendo la implementación, la capacitación y el trabajo de consultoría personalizada.

Tarifas de implementación y capacitación

• Tarifa de implementación promedio por cliente empresarial: $ 75,000 - $ 250,000
• Ingresos anuales del servicio de capacitación: $ 42.5 millones
• Número de clientes empresariales que reciben servicios de implementación: 375

Cargos de uso de la plataforma en la nube

La plataforma en la nube de Veeva generó $ 612 millones en ingresos por suscripción recurrentes, con un valor de contrato anual promedio de $ 180,000 por cliente.

Métrica de la plataforma en la nube	Valor
Ingresos de la plataforma en la nube	$ 612 millones
Valor de contrato promedio	$180,000

Contratos de mantenimiento y soporte recurrente

Los contratos de mantenimiento y soporte generaron $ 385 millones en ingresos anuales recurrentes, con una tasa de retención de clientes del 95%.

• Valor de contrato de mantenimiento anual: $ 385 millones
• Tasa de retención de clientes: 95%
• Tasa promedio de renovación del contrato: 98.5%

Veeva Systems Inc. (VEEV) - Canvas Business Model: Value Propositions

You're looking at the core reasons why life sciences companies continue to commit significant spend to Veeva Systems Inc. It's about deep industry focus, not general software.

Unified cloud platform (Development Cloud and Commercial Cloud) for end-to-end operations.

Veeva Systems Inc. provides a single, industry-specific cloud foundation, the Vault Platform, which unifies Development Cloud (R&D) and Commercial Cloud (customer engagement). This unification is evident in the financial scale, with Subscription Services Revenues hitting $682.5 million in the third quarter of fiscal year 2026 (ending October 31, 2025), representing a 17% year-over-year increase. The company is actively completing the migration of its Commercial CRM customers off the legacy Salesforce infrastructure, aiming for completion by 2025. This platform strategy supports a massive customer base, serving over 1,500 life sciences companies as of August 2025.

Guaranteed regulatory compliance (GxP) and audit readiness.

The platform is architected from the ground up to meet GxP standards, which is critical given the industry's data challenges. For instance, the 2025 Veeva Medtech Regulatory Affairs Benchmark found that 50% of respondents lack full confidence in the completeness of their data for global product registrations. Veeva Systems Inc.'s embedded governance, audit trails, and access restrictions are designed to provide a defensible path for AI adoption within these validated systems. The stickiness of this compliance layer is shown by the 98% customer retention rate.

Accelerated time-to-market for new drugs and treatments.

By centralizing trial management and streamlining data, Veeva Systems Inc. helps break down silos that slow down product delivery. The administrative burden in regulatory affairs is a major bottleneck; in MedTech, preparing a 510(k) submission takes a month or longer for 80% of surveyed firms. Furthermore, 67% of these firms still rely on manual processes for monitoring time-to-market metrics, directly impacting speed. The platform's ability to automate these processes is a direct value driver for faster market access.

Industry-specific AI embedded directly into workflows (agentic AI).

Veeva Systems Inc. is embedding specialized intelligence directly where work happens. The first industry-specific AI Agents, leveraging large-language-model agentic AI, were slated for release in December 2025. Early adopters of these AI-driven CRM tools, including three of the top 20 biopharma firms, have reported efficiency gains ranging from 30-40% in sales and regulatory workflows. This approach contrasts with tools bolted onto disconnected systems, which slow insights.

Single source of truth for content and data management.

The platform's unified nature ensures that content and data flow seamlessly across functions, which is reflected in high adoption rates for integrated modules among the largest customers. For example, among the top 20 biopharma companies, 100% use Vault eTMF, 95% use Vault QualityDocs, and 90% use Vault Submissions. This high degree of multi-product adoption, at 85% across the customer base, confirms the value of having a single, integrated data layer.

Here's a quick look at the scale and performance underpinning these value propositions as of late 2025:

Metric	Value (Late 2025)	Context
Q3 CY2025 Total Revenue	$811.2 million	Up 16% Year-over-Year
FY2026 Revenue Guidance (Midpoint)	Approx. $3.17 billion	Raised guidance for the fiscal year
Non-GAAP Operating Margin (Q3 CY2025)	45%	Reflecting platform scalability
Top-20 Pharma Vault eTMF Adoption	100%	Indicates near-universal adoption in core R&D compliance
AI Efficiency Gains Reported	30-40%	Reported by early adopters in sales/regulatory workflows
Customer Retention Rate	98%	Shows high customer commitment to the ecosystem

Finance: draft 13-week cash view by Friday.

Veeva Systems Inc. (VEEV) - Canvas Business Model: Customer Relationships

You're looking at how Veeva Systems Inc. keeps its customers so tightly integrated into their operations that switching becomes almost unthinkable. That's the core of their customer relationship strategy, which is built for long-term, high-value recurring revenue.

Dedicated Customer Success model for high retention and expansion

Veeva Systems Inc. treats Customer Success as the primary driver for its subscription revenue. This isn't just a support function; it's a core value that ensures deep embedding of their cloud solutions into mission-critical processes, like clinical trials and regulatory submissions. The result is that their customer retention rates are consistently very high. This focus on customer outcomes directly fuels their bottom line, which is why their fiscal year 2025 net income rose to $714.1 million, a 36% jump from the prior year.

The relationship is designed for expansion, meaning success with one Vault application leads to adoption of others. This is evident in their customer penetration:

• Veeva Systems Inc. serves a total of 1,477 customers as of the end of fiscal year 2025.
• Nearly all of the world's largest pharmaceutical companies are included in that customer base.
• Adoption of core Vault applications is near-universal among top-tier clients: 100% use Vault eTMF, 95% use Vault QualityDocs, and 90% use Vault Submissions.

Long-term, high-touch relationships with top biopharma executives

The engagement strategy goes beyond the IT department; it targets strategic alignment with top biopharma leadership. Veeva Systems Inc. executives regularly share strategic roadmaps and industry predictions with customer leaders, positioning the company as a long-term partner in healthcare progress. For instance, leaders from companies like Merck, Pfizer, and Sanofi share their strategies at Veeva's R&D and Quality Summits, indicating a high level of executive-level collaboration focused on industry-wide challenges.

On the commercial side, the focus for 2025 was on simplifying engagement models to meet increasing therapeutic complexity, requiring a unified approach across commercial and medical teams. This strategic alignment ensures that Veeva Systems Inc.'s platform remains central to how these large organizations operate.

Subscription-based licensing model ensures continuous engagement

The financial backbone of the customer relationship is the subscription model. This structure guarantees continuous engagement because the software is the operational backbone for regulated processes. For fiscal year 2025, Subscription Services Revenues for Veeva Systems Inc. reached $2,284.7 million, marking a 20% increase year-over-year on total revenues of $2.7466 billion. This high-margin recurring revenue stream is what allows Veeva Systems Inc. to invest heavily in product excellence and innovation, which in turn secures the next renewal.

Here is a snapshot of the financial scale driven by this model for the fiscal year ended January 31, 2025:

Metric	FY 2025 Amount	Year-over-Year Change
Total Revenues	$2,746.6 million	16% increase
Subscription Services Revenues	$2,284.7 million	20% increase
Net Income	$714.1 million	36% increase

Business Consulting services for process design and change management

While subscriptions are the core, Veeva Systems Inc. complements this with professional services, which include business consulting for process design and change management. The CEO specifically mentioned strong execution in business consulting when announcing the fiscal year 2025 results. These services are crucial for helping customers standardize and simplify complex workflows, such as unifying QA and QC or improving data flow across R&D silos.

To be fair, these services are a smaller portion of revenue compared to the software subscriptions, but they serve a vital purpose: they increase Veeva Systems Inc.'s wallet share within existing accounts by driving deeper integration and adoption of best practices. For example, in clinical operations, customers report efficiency gains like 50% faster study build times with Veeva EDC, a benefit often realized through expert implementation and process alignment.

Finance: draft the Q1 FY2026 revenue contribution breakdown for Professional Services by next Tuesday.

Veeva Systems Inc. (VEEV) - Canvas Business Model: Channels

You're looking at how Veeva Systems Inc. gets its specialized cloud software and data solutions into the hands of life sciences companies. It's a highly focused approach, built around direct engagement supported by a growing ecosystem.

Direct Sales Force Targeting Global Life Sciences Enterprises

Veeva Systems Inc. relies on a direct sales force to engage the largest, most complex organizations in the life sciences space. This channel is critical for landing the high-value, enterprise-wide platform deals.

• Veeva Systems Inc. serves 19 of the world's top 20 life sciences companies as of late 2025.
• The total customer count reached 1,477 by the end of Fiscal Year 2025 (January 31, 2025).
• Of these customers, 1,125 are aligned with Veeva R&D Solutions and 730 with Veeva Commercial Solutions.
• The company has over 50 of the world's largest pharmaceutical companies as customers.

Veeva Vault Platform and Commercial Cloud Delivered via the Internet (SaaS)

The core delivery mechanism is Software as a Service (SaaS) over the internet, which drives the recurring revenue stream. This is where the bulk of the financial performance originates.

Metric	Value (FY 2025 Ended Jan 31, 2025)	Value (Q1 FY2026 Ended Apr 30, 2025)
Total Revenues	$2,746.6 million	$759.0 million
Subscription Services Revenues	$2,284.7 million	$634.8 million

The migration to the next-generation platform shows channel success in driving adoption. As of December 1, 2025, 115 customers were live on Vault CRM. This is up from more than 80 Vault CRM customers live as of May 2025. The company is targeting 200 Vault CRM customers live by 2026. Separately, 1,357 verified companies use the broader Veeva Vault platform as of August 17, 2025.

Partner Ecosystem (Service Partners) for Regional Implementation

Veeva Systems Inc. uses a network of service partners to help customers implement and scale its solutions regionally and across complex functional areas. This ecosystem extends the reach beyond the direct sales and implementation teams.

• As of early 2023 data, Veeva Systems Inc. had a total of 297 partner engagements.
• The primary focus areas-Consulting Services, Business Process Applications, and Communications and Collaboration-accounted for 62.8 percent of these engagements.
• Industry analysis projected the Veeva-services market spending to reach $2 billion by 2025.

Direct Customer Support and Education Services

The delivery model inherently includes direct support and education, often bundled within the subscription or as part of the business consulting offering. This ensures customers can effectively use the specialized software.

• Veeva Systems Inc. explicitly includes business consulting as part of its offering.
• The company's focus on product excellence and customer success is a key component of maintaining high renewal rates for its SaaS subscriptions.

Finance: draft 13-week cash view by Friday

Veeva Systems Inc. (VEEV) - Canvas Business Model: Customer Segments

You're looking at the core of Veeva Systems Inc.'s market penetration, which is deeply concentrated in the most regulated corners of the life sciences world. This focus is why they command such high switching costs; their software manages mission-critical processes.

The customer base is segmented to capture value across the entire drug lifecycle, from initial research to commercial sales. As of the end of fiscal year 2025 (ended January 31, 2025), Veeva Systems Inc. reported a total customer count of 1,477. This base is strategically weighted toward the largest players.

Global Pharmaceutical and Biotechnology companies (including 19 of the top 20)

This group represents the bedrock of Veeva Systems Inc.'s revenue, given their massive scale and complex regulatory needs. Veeva Systems Inc. has successfully embedded its solutions across these giants. For instance, in Regulatory Information Management (RIM) alone, 19 of the top 20 biopharmas have adopted Veeva RIM on a unified platform as of September 2025. Furthermore, the transition to the next-generation Vault CRM is underway, with management projecting 200 Vault CRM customers live in fiscal year 2026, which is expected to include three top 20 biopharmas. This segment is crucial, though the company noted a loss of 6 clients in the top 20 leading up to late 2025, which some analysts flagged as a near-term risk.

Emerging Biotech and smaller life sciences firms

Veeva Systems Inc. doesn't just cater to the established names; the company serves a wide spectrum, including emerging biotechs. This segment is vital for future growth, as these smaller firms adopt Veeva Systems Inc.'s cloud solutions early in their development, often standardizing on the platform from the start. The total addressable market (TAM) for life sciences industry-specific software, data, and services is estimated to be over $20 billion, indicating significant runway even within the core life sciences sector.

Here's a quick look at the breadth of Veeva Systems Inc.'s customer types:

• Large Biopharma
• Biotech
• Emerging Biotechs
• CDMO (Contract Development and Manufacturing Organization)
• CRO (Contract Research Organization)
• Generics
• Animal Health

Adjacent regulated industries: MedTech, Consumer Packaged Goods (CPG), and Chemical

Veeva Systems Inc. leverages its core compliance and quality expertise to serve adjacent, highly regulated industries. While the primary focus remains on pharma and biotech, these segments represent an expansion of the industry cloud strategy. For example, MedTech companies use specialized Vault CRM applications. For CPG and Chemical sectors, Veeva Systems Inc. specifically offers Quality and training solutions. The company has a dedicated Vault CRM for MedTech product, which tailors CRM and content management for device companies.

Contract Research Organizations (CROs) for clinical trial execution

CROs are a key customer category, often using Veeva Systems Inc.'s Development Cloud products to manage outsourced clinical trial activities for their pharmaceutical sponsors. While specific revenue contribution from CROs isn't broken out, their adoption of solutions like Veeva RIM and other clinical modules is essential for end-to-end trial execution. The company lists CRO specifically as one of its defined customer types.

The following table summarizes the key customer segments and relevant adoption metrics as of late 2025:

Customer Segment	Key Metric/Penetration	Relevant Product Area	Data Point (FY2025 or Late 2025)
Global Large Pharma	Penetration of Top 20	Overall Platform Adoption	19 of 20 top biopharma companies use Veeva Systems Inc. products.
Global Large Pharma	Vault CRM Migration	Commercial Cloud	50+ customers live on Vault CRM as of Q4 FY2025.
Emerging Biotech & Small Firms	Total Customer Base	All Solutions	Total customer count was 1,477 at FY2025 year-end.
Regulated Adjacent Industries (MedTech, CPG, Chemical)	Solution Offering	Quality & Training	Veeva Systems Inc. provides Quality and training solutions to CPG and Chemical sectors.
CROs	Customer Type Classification	Development Cloud	Listed explicitly as a customer company type.
Veeva RIM Users	Adoption Volume	Regulatory Information Management	More than 450 companies adopted Veeva RIM.

If onboarding takes 14+ days, churn risk rises, especially with emerging biotechs needing speed.

Finance: draft 13-week cash view by Friday.

Veeva Systems Inc. (VEEV) - Canvas Business Model: Cost Structure

You're looking at the core expenses that fuel Veeva Systems Inc.'s growth engine as of late 2025. The cost structure is heavily weighted toward product development, which makes sense for a company focused on deep industry specialization.

High R&D investment is the most significant driver here. For fiscal year 2025, Veeva Systems invested $693 million in Research and Development. This represented a substantial 25% of the total revenue for the year, which was $2,746.6 million.

The next major cost component is Sales and Marketing, which is necessary to acquire and expand relationships with large enterprise accounts in the life sciences sector. For the full fiscal year ended January 31, 2025, the GAAP Sales and Marketing expense totaled $318.619 million. To give you a sense of the current mix, in the third quarter of fiscal year 2026, Sales & Marketing represented 14% of that quarter's revenue.

Personnel costs are embedded within these figures, particularly within R&D and Sales & Marketing, reflecting the need for specialized software developers, compliance experts, and professional services staff to support the global Vault platform deployments. While a specific total personnel cost isn't isolated here, the high R&D spend points directly to significant investment in specialized technical talent.

Regarding the Cloud infrastructure and hosting costs for the global Vault platform, these are a necessary, ongoing operational expense for any major SaaS provider. While the exact dollar amount for FY2025 infrastructure spend isn't explicitly itemized separately from other Cost of Revenue items, it scales directly with the $2,284.7 million in Subscription Services Revenue generated that year.

A key financial benefit Veeva Systems is realizing is the reduction in Royalty payments to Salesforce. The strategic migration of customers to the native Vault CRM is projected to eliminate $80 million in annual royalty payments, according to reports from late 2025, which directly flows through to margin expansion.

Here is a breakdown of the major GAAP operating expenses for the fiscal year ended January 31, 2025 (FY2025), in thousands of US Dollars:

Cost Category	FY2025 GAAP Expense (in thousands)	FY2025 Expense as % of Total Revenue
Research and Development	$693,000	25%
Sales and Marketing	$318,619	Approx. 11.6%
General and Administrative	$265,744	Approx. 9.7%

The total operating expense on a GAAP basis for the full fiscal year 2025 was $1,120,325 thousand (or $1.120 billion).

You should track the operating margin improvement, as the GAAP operating income for FY2025 reached $691.4 million, yielding an operating margin of 25.2%, up from 18.2% the prior year. Finance: draft 13-week cash view by Friday.

Veeva Systems Inc. (VEEV) - Canvas Business Model: Revenue Streams

You're looking at the core engine of Veeva Systems Inc.'s financial performance as of late 2025, and frankly, it's a story of subscription dominance. The total revenue picture for the fiscal year 2025 ended January 31, 2025, was a solid $2,746.6 million.

The way Veeva Systems Inc. brings in that money is heavily weighted toward its software-as-a-service (SaaS) offerings. Here's the quick math on how the two main buckets stacked up for FY2025:

Revenue Stream	FY2025 Amount (Millions USD)	Percentage of Total Revenue
Subscription Services Revenue	$2,284.7 million	83.2%
Professional Services and Other Revenue	$461.9 million	16.8%

That $461.9 million for Professional Services is the remainder calculated from the total revenue of $2,746.6 million minus the subscription revenue of $2,284.7 million. Still, that professional services piece has been, to be fair, relatively flat year-over-year, which tells you the business model is intentionally leaning into the stickiness of its core platform.

The Subscription Services Revenue is the star here, hitting $2,284.7 million in FY2025, representing 83.2% of everything the company brought in. This stream is built entirely on the foundation of recurring revenue from annual or multi-year SaaS contracts. It's the predictable, high-margin money that analysts really like to see.

Within that subscription base, you see the value of Veeva Systems Inc.'s expanding ecosystem. You can expect this segment to include:

• Recurring fees for the core Commercial and R&D Solutions.
• Revenue from data services, such as those provided through Crossix and Compass offerings.
• Fees associated with the ongoing use of the Veeva Vault Platform.

The Professional Services and Other Revenue, which accounted for the remaining $461.9 million, covers things like implementation, training, and consulting to get customers onto the platform. As noted, this stream has been relatively flat YoY, which is by design; Veeva wants customers to self-serve or rely on the inherent value of the subscription rather than high-cost, one-time service engagements. If onboarding takes 14+ days, churn risk rises, so keeping services lean makes sense for their long-term margin goals.

Finance: draft 13-week cash view by Friday.