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Analyst
Brian Peterson
Period: Reporting periods mapped to calendar 2024 Q4 – 2026 Q3 (8 quarters).
- Questions
- 14on tracked calls
- Challenge rate
- 0%none of 14 questions
- Companies
- 3questioned at least once
- Reporting periods
- 8with questions
These figures cover the whole profile: every tracked question, all reporting periods.
How to read these numbers
Challenge rate is the share of questions that pushed back, pressed for specifics or questioned management’s assumptions. It describes how questions were asked on the calls tracked here; it does not measure whether any view turned out to be right.
Rounding. Rates are rounded to whole percentages, so a small share can show as 0% even when some questions were challenging. The count beside each rate is exact; “none of N questions” means no question was challenging.
No questions recorded. “—” means there is nothing to calculate: no questions were recorded for that period on the calls tracked here. It does not mean there was no activity.
Fewer than 3 questions. A company-level rate is withheld when fewer than 3 questions were recorded for that company; the questions are still counted everywhere else.
Small samples. Profiles with fewer than 10 questions are marked Limited sample.
Reporting periods. Questions are grouped by the calendar quarter each company’s fiscal reporting period maps to, not by the date of the call. Periods without a calendar mapping are listed separately under their fiscal label.
Questions asked
Grouped by company, most questions first. Open a company to read its questions, newest reporting period first.
Showing 14 of 14 questions from 3 companies
VEEVVeeva Systems Inc.12 questions · 8 reporting periods · 0 of 12 challenging
Calendar 2026 Q3
Could you maybe unpack what drove that acceleration in the subscription line item?
Show response
Brian Van Wagener described broad-based Commercial strength across CRM, content, data, Crossix and Ostro, with CRM growing rather than declining.
Calendar 2026 Q2
I'm curious what areas you think they lean into first and how we should think about the transition
Show response
Peter framed the MAAP architecture (models, agents, applications) and Veeva's structural advantage in industry-specific agents.
Calendar 2026 Q1
Any help on bridging the gap between the 13% growth for subscription in fiscal year 2027 versus the 11% growth in normalized billings
Show response
Brian cited two dynamics: slightly slowing Crossix growth on harder comps, and R&D mix shift from mature products to large early-stage products that are growing fast but still getting to scale. Not a major effect, still on track for 2030 goals.
what are you seeing in terms of pipeline development of some of the other products and would be curious about that cross-sell opportunity
Show response
Paul corrected the number to closer to 140 live. Migrations create opportunities to add Network, OpenData, Service Center, and Campaign Manager. Top 20s expanding globally with data products during CRM migration. Expects cross-sell to continue growing over time.
Calendar 2025 Q4
how are they thinking about the size of their sales force with the implementation of AI
Show response
Paul said prior field reductions were about 10%, slightly less than predicted. HCP numbers unchanged, base level of reps still needed. No AI-related reductions heard. Expect stability for at least the next couple years.
do you think that we'll see more of a monetization in terms of commercial where we've already kind of seen some of that today, maybe more broadly in software
Show response
Peter said value is broadly similar across segments but implemented differently. Safety and clinical focus on labor reduction. Commercial focuses on insight generation and market advantage. Regulatory focuses on speed.
Calendar 2025 Q3
I'd love to get an update on some of your horizontal software ambitions
Show response
Peter said stable team making excellent progress. First application in CRM, talking to early customers. First project or two expected to start this year. Fuller update at October Analyst Day. Building from scratch with AI-first advantage.
what are some of the early use cases you'd see there? And how would you kind of look at that opportunity thinking about it maybe commercial versus R&D
Show response
Peter differentiated: commercial AI boosts productivity (more relationships, more work). Clinical/safety AI targets outsourced processing labor, goal to remove need for half. eTMF agent can automate document filing and completeness checks.
Calendar 2025 Q2
was there any incremental caution that you factored into the guidance
Show response
Brian said the business is subscription-based in mission-critical areas, more insulated from short-term pressures. No material impact on financials or pipeline. Deals progressing, contracts renewing, projects on or ahead of schedule.
Curious on the relative prioritization of IT spend if we think about it in the lens of sales versus marketing versus customer service
Show response
Paul prioritized sales highest given the size and importance of field teams. CRM Bot can make field teams significantly more productive. Customer service and marketing also seeing investment.
Calendar 2025 Q1
how have the decision timelines gone versus your initial expectations? And would you expect 2025 to maybe be a bigger year or 2026
Show response
Paul said timelines are exactly as expected. Expects more announcements in 2025 and vast majority of top 20 decisions by end of 2026.
Calendar 2024 Q4
I'd love to understand what your customer feedback has been there and how you think about the potential implications to Veeva
Show response
Paul said it is very early with administration change. Customers are accustomed to transitions and focused on current priorities with no change in decision-making.
ROPRoper Technologies1 question · 1 reporting period · 0 of 1 challenging
Calendar 2026 Q2
in what of those markets do you think you have the earliest appetite or demand from customers for AI solutions?
Show response
Neil said adoption pace tracks the amount of human change management required, not the end market itself (CentralReach vs DAT).
SHOPShopify1 question · 1 reporting period · 0 of 1 challenging
Calendar 2025 Q2
did you see any potential pull forward for consumers that may have wanted to take advantage of pricing before tariff increases?
Show response
Jeff firmly stated no evidence of demand pullforward, with July strength consistent with Q2 performance and no meaningful changes in cross-border activity or buyer behavior.
Challenge rate by company
Every company this analyst questioned, most questions first. A company-level rate is shown from 3 questions; below that it is withheld.
| Company | Questions | Challenge rate |
|---|---|---|
| VEEV Veeva Systems Inc. | 12 | 0%none of 12 questions |
| ROP Roper Technologies | 1 | —Rate withheld: fewer than 3 questions |
| SHOP Shopify | 1 | —Rate withheld: fewer than 3 questions |
Activity by reporting period
Questions recorded for each calendar quarter that companies’ reporting periods map to (not the call date), with the challenge rate for that period. Periods inside the range with no questions are shown as “No questions recorded”.
| Calendar period | Questions | Challenge rate | Companies |
|---|---|---|---|
| 2024 Q4 | 1 | 0%none of 1 question | 1 |
| 2025 Q1 | 1 | 0%none of 1 question | 1 |
| 2025 Q2 | 3 | 0%none of 3 questions | 2 |
| 2025 Q3 | 2 | 0%none of 2 questions | 1 |
| 2025 Q4 | 2 | 0%none of 2 questions | 1 |
| 2026 Q1 | 2 | 0%none of 2 questions | 1 |
| 2026 Q2 | 2 | 0%none of 2 questions | 2 |
| 2026 Q3 | 1 | 0%none of 1 question | 1 |
- 2024 Q41 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q11 question · challenge rate 0% (none of 1 question) · 1 company
- 2025 Q23 questions · challenge rate 0% (none of 3 questions) · 2 companies
- 2025 Q32 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2025 Q42 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q12 questions · challenge rate 0% (none of 2 questions) · 1 company
- 2026 Q22 questions · challenge rate 0% (none of 2 questions) · 2 companies
- 2026 Q31 question · challenge rate 0% (none of 1 question) · 1 company
Topics
Topics tagged on this analyst’s questions.
- Demand8
- Cloud & AI6
- Innovation & R&D4
- Product Launch3
- Revenue Growth2
- Guidance Reliability2
- Macroeconomic2
- Regulation Policy1
- Trade Tariffs1