Veeva Systems (VEEV) The 44th Annual William Blair Growth Stock Conference summary

Industry cloud strategy and market positioning

• Building an integrated industry cloud for life sciences, combining software, data, and business consulting to modernize and harmonize mission-critical systems across clinical, regulatory, and commercial operations.

• Serving a $2 trillion global life sciences market with a $20 billion addressable opportunity, targeting 1% market share and currently at 15% penetration.

• Differentiation comes from offering a standardized platform with 30+ products across 10 categories, providing both business and technology advantages over niche competitors.

• Customers range from the largest to the smallest life sciences companies, with over 90% of revenue from the sector.

• The business has grown profitably since inception and is on track to reach $3 billion in revenue by 2025.

Product evolution and innovation

• Originated in pharmaceutical CRM, now expanded to 10 major product areas, with CRM as one component and over 80% market share in that space.

• Transitioning CRM from a third-party platform to the proprietary Vault Platform to unlock innovation and control, enabling new offerings in marketing, call center, and patient engagement.

• Data Cloud business disrupts traditional data vendors by leveraging technology for faster, more accurate, and integrated data delivery, supporting daily insights for pharma clients.

• R&D suite has grown from a single clinical operations product to 20-30+ products across five pillars: clinical operations, data capture, quality, regulatory, and safety.

• Vault Basics launched to provide standardized, affordable R&D solutions for small biotech startups, expanding market reach.

Business consulting and customer value

• Business consulting arm, started five years ago, complements software and data by driving process transformation and change management.

• Consulting team’s industry and technology expertise influences product direction and strategy, helping identify and productize common customer needs.

• Integrated platform and consulting foster deeper customer relationships and support long-term innovation.