Veeva Systems Delivers Strong Q1 2026 Results, Exceeding Guidance with Record Revenue and Margin
Veeva Systems, a leading provider of cloud-based software for the life sciences industry, has reported strong first-quarter results, exceeding guidance and achieving record revenue and margin. In a conference call on May 28, 2025, the company's executives highlighted several key highlights from the quarter.
The quarter ended with total revenue of $759 million, surpassing Veeva's own guidance and representing a significant increase over the same period in previous years. Non-GAAP operating margin also came in at an impressive 46%, further solidifying the company's financial performance.
One notable achievement was the attainment of Veeva's calendar 2025 revenue run rate goal of $3 billion, which has been a key target for the company. This milestone marks a significant accomplishment and demonstrates Veeva's continued growth and momentum in the life sciences industry.
Peter Gassner, Chief Executive Officer of Veeva, described the quarter as the company's "best first quarter ever" in terms of execution across the organization. He attributed this success to the company's focus on its 2030 goals and the alignment of efforts under the banner of. Gassner also highlighted the strong start made by Veeva AI, a major initiative that has been off to a good start.
The company's customers are increasingly adopting its Vault CRM solution, with over 80 customers now live on the platform. This represents a significant increase from just one year ago and indicates growing customer satisfaction with Veeva's offerings. In fact, Paul Shawah, EVP of Strategy at Veeva, revealed that the majority of new customers are opting for Vault CRM due to its superiority over traditional Veeva CRM solutions.
The reasons behind these migration decisions have shifted in recent times, with customers now citing Veeva AI as a key factor in their decision-making process. Shawah explained that the benefits of Veeva AI, including improved service center and campaign manager capabilities, are driving customer adoption. Furthermore, Gassner expressed excitement about the potential impact Veeva AI can have on the life sciences industry.
While the macro environment may be uncertain at present, Veeva's executives have not seen a material change to their financial results or pipeline. The company remains focused on executing its 2030 goals and delivering value to customers through innovative solutions like Vault CRM and Veeva AI.
