Highlights 

  • Q3 FY26 revenue reached USD 811.2 million, up 16% year-over-year 
  • Subscription services contributed USD 682.5 million, rising 17% 
  • Vault CRM added 23 new customers and expanded global deployments 
  • Development Cloud adoption accelerated with new top 20 biopharma wins 
  • FY26 revenue guidance raised as Veeva targets USD 6 billion run rate by 2030 

Veeva Systems (NYSE:VEEV) reported a meaningful revenue increase for its fiscal third quarter ended October 31, 2025, supported by steady demand for its cloud-based solutions tailored to the life sciences sector. Totalrevenuerose 16%year-over-yearto USD 811.2 million, compared with USD 699.2 million in Q3 FY25. Subscription services continued to be the company’s main growth engine, generating USD 682.5 million, an increase of 17% from the prior year. 

The performance underscores the momentum within Veeva’s diversified cloud portfolio, which now plays a central role in digital transformation efforts across major pharmaceutical and biotech organizations. The subscription model also contributed materially to predictable recurring revenue, helping support Veeva’s expanded product ecosystem. 

Net income for Q3 FY26 reached USD 236.2 million, or USD 1.40 per diluted share, up from USD 185.8 million, or USD 1.13 per diluted share, a year earlier. On a non-GAAP basis, net income increased to USD 345.1 million, or USD 2.04 per diluted share. 

Vault CRM Gains Market Traction 

Vault CRM continued its expansion with 23 new customer additions during the quarter, bringing its total global footprint to 115 live customers. A notable deployment involved a major top-20 biopharmaceutical company in Japan, demonstrating the product’s suitability for large-scale, multinational rollouts. 

Veeva’s continued investment in AI-enabled capabilities has supported broader use cases for commercial teams, driving increased adoption across both emerging and enterprise clients. The company highlighted ongoing customer transitions to its unified CRM environment, which integrates content, data, and applications across the commercial workflow. 

Operating cash flowfor the first nine months of FY26 reached USD 1.3 billion, compared with USD 1.0 billion in the same period last year, reinforcing the financial flexibility available for continued product development and strategic investments. 

Development Cloud Momentum and Updated Guidance 

Veeva Development Cloud emerged as a key contributor to the quarter’s performance. Three top 20 biopharmas selected Development Cloud applications as enterprise standards, including solutions for study startup, study training, and safety. These wins reflect broader adoption of platform-driven clinical operations, an area where Veeva continues to see significant long-term opportunities. 

Looking ahead, Veeva expects Q4 FY26 revenue between USD 807 million and USD 810 million. For full-year FY26, revenue is projected between USD 3.166 billion and USD 3.169 billion, compared with USD 2.7 billion in FY25. CFO Brian Van Wagner reiterated confidence in reaching a USD 6 billion revenue run rate by 2030. 

Conclusion 

Veeva Systems closed its third quarter with meaningful momentum across CRM, clinical, and safety platforms while maintaining a high level of liquidity with USD 1.66 billion in cash and USD 4.97 billion in short-term investments. With continued customer adoption across global pharmaceutical companies and sustained operational execution, Veeva is positioned to advance its growth strategy well into FY26 and beyond. 

Veevas’ shares closed at USD 270.50, marking a 0.92% increase from the prior session. 

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