VEEV Q3 FY25

Veeva Systems' total operating revenue as of October 31, 2024 was RMB699,207,000, a YoY growth of 13.39% (compared to RMB616,505,000 as of October 31, 2023). This growth indicates a strong sales performance in the market, possibly benefiting from increased product demand or market share expansion.

1. Growing Market Demand: Veeva Systems focuses on cloud software for the life sciences industry, and its solutions are popular among biopharmaceutical and medical device companies. The increase in market demand directly drives the growth of total operating revenue.

2. New Product Launch: The company launched new products or services during the reporting period, attracting more customers and further promoting revenue growth.

3. Customer Expansion: Veeva successfully expanded its customer base, especially in emerging markets or new industry sectors.

4. Sales Strategy Optimization: The company may have optimized its sales and marketing strategies, improving sales efficiency and promoting revenue growth.

5. Macroeconomic Environment: The overall economic environment improvement supports the company's revenue growth, especially the increased investment in the life sciences sector.

## Peer Comparison Analysis

1. Industry-wide Analysis: The life sciences industry as a whole is experiencing revenue growth driven by digital transformation and technological innovation. Pharmaceutical companies and medical device companies are increasing their investments in cloud computing and digital solutions, creating a favorable external environment for Veeva Systems' performance.

2. Peer Evaluation Analysis: Compared to its peers, Veeva Systems' total operating revenue growth rate is strong, demonstrating its competitiveness in the industry. Although other competitors like Medidata and Oracle Health Sciences are also growing, Veeva's growth rate may be faster, indicating its relatively successful market positioning and product strategy.

## Conclusion

Veeva Systems performed well in the 2024 fiscal year, with a significant increase in total operating revenue, showing its strong market performance in the life sciences industry. New product launches and increased market demand are the main drivers, and the company has effectively optimized its sales strategies. Compared to peers, Veeva's market competitiveness is strong, and the overall industry trend is also supportive of its development.

## Opportunities

1. New Product Development: Launching new products like Veeva Compass and Vault EDC can help expand market share.

2. Market Expansion: Continuously expanding into emerging markets and industry sectors to increase revenue sources.

3. Technological Innovation: Leveraging technological advancements to enhance product competitiveness and meet niche market demands.

4. Industry Trends: The digital transformation and growing demand for precision medicine in the life sciences industry will provide more market opportunities for Veeva.

## Risks

1. Intensifying Competition: As competition intensifies, it may threaten Veeva's market share.

2. Economic Environment Uncertainty: Global economic fluctuations may affect investor confidence and impact investment in the life sciences industry.

3. Rapid Technology Changes: Rapid technological advancements can quickly render existing products obsolete, and the company needs to innovate continuously to maintain market competitiveness.

4. Policy Changes: Changes in the healthcare industry policy can affect the company's operating environment and profitability.