| Imagery Source: IQVIA Holdings Inc |
| Information Source: IQVIA Holdings Inc |
- Revenue of $3,829 million
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- GAAP Net Income of $249 million, Adjusted EBITDA of $883 million
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- GAAP Diluted Earnings per Share of $1.40, Adjusted Diluted Earnings per Share of $2.70
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- R&D Solutions quarterly bookings of $2.1 billion, resulting in trailing-twelve-month bookings of $9.7 billion and a trailing-twelve-month book-to-bill ratio of 1.14x
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- R&D Solutions contracted backlog of $31.5 billion, up 4.8 per cent year-over-year
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- TAS Revenue of $1,546 million, up 6.4 per cent reported year-over-year and 7.6 per cent at constant currency
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- Operating Cash Flow of $568 million and Free Cash Flow of $426 million, up 13 per cent year-over-year, representing 89 per cent of Adjusted Net Income
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- Repurchased $425 million of common stock
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- Raised full-year revenue guidance by $275 million to reflect more favourable foreign currency exchange rates; reaffirmed profit guidance
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| IQVIA Holdings Inc. (“IQVIA”) (NYSE: IQV), a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries, today reported financial results for the quarter ended March 31, 2025. |
| First-Quarter 2025 Operating Results |
| Revenue for the first quarter of $3,829 million increased 2.5 per cent on a reported basis and 3.5 per cent at constant currency, compared to the first quarter of 2024. Technology & Analytics Solutions (TAS) revenue of $1,546 million increased 6.4 per cent on a reported basis and 7 per cent at constant currency. Research & Development Solutions (R&DS) revenue of $2,102 million increased 0.3 per cent on a reported basis and 1.1 per cent at constant currency. Excluding reimbursed expenses, R&DS revenue grew 1 per cent on a reported basis. Contract Sales & Medical Solutions (CSMS) revenue of $181 million decreased 4.2 per cent on a reported basis and 2.1 per cent at constant currency. |
| As of March 31, 2025, R&DS contracted backlog, including reimbursed expenses, was $31.5 billion, growing 4.8 per cent year-over-year and 4.6 per cent at constant currency. The company expects approximately $7.9 billion of this backlog to convert to revenue in the next twelve months. First quarter net new bookings were $2.1 billion, representing a book-to-bill ratio of 1.02x, and resulting in a trailing-twelve-month book-to-bill ratio of 1.14x. |
| First-quarter GAAP Net Income was $249 million, and GAAP Diluted Earnings per Share were $1.40. Adjusted EBITDA was $883 million, up 2.4 per cent year-over-year. Adjusted Net Income was $479 million and Adjusted Diluted Earnings per Share was $2.70, up 2.4 per cent and 6.3 per cent, respectively. |
| "IQVIA delivered strong revenue and profit performance, at the high end of our expectations," said Ari Bousbib, chairman and CEO of IQVIA. "In the clinical trial business, we experienced delayed decision-making by customers on new programs, reflecting incremental macroeconomic and industry sector uncertainty. Despite the environment, our R&DS forward-looking indicators such as qualified pipeline, RFP flow, and backlog continued to grow. On the commercial side, the TAS business delivered above target performance, with revenue growth of 7.6 per cent at constant currency. Our strong financial results demonstrate that we are navigating the current market conditions more effectively than our sector, reflecting the scale and strength of our differentiated portfolio and the resilience of our operational execution." |
| Financial Position |
| As of March 31, 2025, cash and cash equivalents were $1,740 million and debt was $14,330 million, resulting in net debt of $12,590 million. IQVIA’s Net Leverage Ratio was 3.40x trailing twelve-month Adjusted EBITDA. For the first quarter, Operating Cash Flow was $568 million and Free Cash Flow was $426 million. |
| Share Repurchase |
| During the first quarter of 2025, the company repurchased $425 million of its common stock. IQVIA had $2,588 million of share repurchase authorization remaining as of March 31, 2025. |
| Full-Year 2025 Guidance |
| To reflect the favourable change in foreign currency exchange rates since the company released its prior guidance, the company is raising its full-year 2025 revenue guidance to be between $16,000 million and $16,400 million. The company reaffirms its profit guidance of Adjusted EBITDA between $3,765 million and $3,885 million, and Adjusted Diluted Earnings per Share between $11.70 and $12.10. |
| All financial guidance assumes foreign currency exchange rates as of May 5, 2025 remain in effect for the forecast period. |
| For the full document, click the link below |
| IQVIA Holdings Inc |
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