Core Viewpoint - IQVIA Holdings Analytics Inc. reported strong first-quarter 2025 results, with earnings and revenues exceeding expectations, indicating positive growth trends in its business segments [1][7]. Financial Performance - Adjusted earnings were $2.70 per share, surpassing the Zacks Consensus Estimate by 2.7% and increasing 6.3% year-over-year [1]. - Total revenues reached $3.8 billion, exceeding the consensus estimate by 1.6% and growing 2.5% from the previous year [1]. - Adjusted EBITDA for the quarter was $883 million, a 2.4% increase from the year-ago quarter, but slightly below projections [5]. Segment Performance - The Research and Development segment generated revenues of $2.1 billion, showing a marginal increase year-over-year and meeting estimates [3]. - Revenues from the Technology and Analytics segment were $1.5 billion, growing 6.4% year-over-year and meeting estimates [4]. - Contract Sales and Medical Solutions revenues decreased 4.2% year-over-year to $181 million, missing estimates [4]. Cash Flow and Debt - Net cash generated from operating activities was $586 million, with capital expenditures of $142 million, resulting in a free cash flow of $426 million [6]. - The company ended the quarter with cash and cash equivalents of $1.7 billion, unchanged from the previous quarter, while long-term debt increased to $13.1 billion [5]. 2025 Guidance - For 2025, IQVIA raised its revenue guidance to $16.00-$16.40 billion, higher than the previous estimate and the Zacks Consensus Estimate of $15.86 billion [7]. - The company expects adjusted EPS in the range of $11.70-$12.10, with the midpoint exceeding the Zacks Consensus Estimate of $11.84 [7]. - Adjusted EBITDA guidance for 2025 is set at $3.76-$3.88 billion [7].

Q1 2025 Earnings Call May 6, 2025 IQVIA Template (V2.1.0) 100% 50% 75% 25% 1 Legal This presentation should be viewed in conjunction with IQVIA's Q1 2025 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including, without limitation, our second-quarter a ...

Company Performance - IQVIA Holdings reported quarterly earnings of $2.70 per share, exceeding the Zacks Consensus Estimate of $2.63 per share, and up from $2.54 per share a year ago, representing an earnings surprise of 2.66% [1] - The company posted revenues of $3.83 billion for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 1.55%, compared to $3.74 billion in the same quarter last year [2] - Over the last four quarters, IQVIA has consistently surpassed consensus EPS and revenue estimates [2] Stock Performance - IQVIA shares have declined approximately 22.5% since the beginning of the year, contrasting with the S&P 500's decline of 3.9% [3] - The current Zacks Rank for IQVIA is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $2.80 on revenues of $3.89 billion, and for the current fiscal year, it is $11.84 on revenues of $15.86 billion [7] - The outlook for the Medical - Instruments industry, in which IQVIA operates, is currently in the top 25% of over 250 Zacks industries, suggesting a favorable environment for stock performance [8]

Financial Performance - Total revenue for Q1 2025 was $3,829 million, representing a year-over-year growth of 2.5% on a reported basis and 3.5% at constant currency [30] - Adjusted EBITDA for Q1 2025 was $883 million, reflecting a growth of 2.4% year-over-year [32] - Adjusted diluted EPS for Q1 2025 was $2.7, an increase of 6.3% year-over-year [32] - The backlog at the end of Q1 2025 reached a record $31.5 billion, growing 4.8% compared to the prior year [10][32] Business Segment Performance - Technology and Analytics Solutions (TAS) revenue for Q1 2025 was $1,546 million, up 6.4% reported and 7.6% at constant currency [31] - R&D Solutions revenue for Q1 2025 was $2,102 million, a slight increase of 0.3% reported and 1.1% at constant currency [31] - Contract Sales and Medical Solutions revenue for Q1 2025 was $181 million, declining 4.2% reported and 2.1% at constant currency [31] Market Insights - The average time from RFP issuance to award increased by approximately 10% year-over-year and sequentially, indicating a cautious market environment [10][61] - The funding environment for early-stage projects has deteriorated, impacting decision-making processes among clients [10] - The U.S. biopharmaceutical sector continues to demonstrate resilience, contributing significantly to global drug approvals and economic output [21][22] Company Strategy and Industry Competition - The company is well-positioned to navigate near-term challenges and remains confident in the industry's resilience and prospects [6][20] - The focus on real-world evidence and AI-based models is expected to enhance the approval process for new drugs, benefiting the company [17][19] - The company has secured significant contracts and partnerships, indicating strong demand for its services [24][26] Management Commentary on Operating Environment - Management noted that while there is uncertainty in the market, leading indicators such as pipeline and decision timelines remain strong [55] - The company has not seen significant changes in pricing negotiations, maintaining stable relationships with large pharma clients [75] - Delays in decision-making are attributed to macroeconomic uncertainties, but the company expects to adapt and continue growth [20][61] Other Important Information - The company repurchased $425 million of its shares during the quarter, with approximately $2.6 billion remaining under the current program [33] - The full-year revenue guidance was raised by $275 million, reflecting favorable foreign currency exchange rates [34] Q&A Session Summary Question: Drivers behind the strength in RWE and order book outlook - The strong growth in real-world evidence (RWE) was driven by pent-up demand and a return to mission-critical work, with expectations for continued performance [38][39] Question: Margin expansion opportunities - Margin performance is impacted by foreign exchange rates, with ongoing cost reduction efforts including AI implementation to drive efficiency [44][45] Question: Competitiveness of RFPs and vendor consolidation - RFP flow remains strong, with no significant changes in the competitive landscape despite macroeconomic uncertainties [48][50] Question: Impact of uncertainty on TAS - The company has not seen significant impacts on TAS from the current operating environment, with continued good growth expected [56][57] Question: Book-to-bill trends and cancellations - The softer book-to-bill ratio was attributed to delays in contract signings and funding uncertainties, rather than increased cancellations [66][68] Question: Pricing environment changes - There have been no notable changes in the pricing environment, with stable negotiations in place from previous strategic partnerships [75] Question: Mix of FSO versus FSP in RFPs - There has been a shift back towards full-service offerings, with signs of increased outsourcing from large pharma clients [81][84] Question: Status of delayed mega trials - One mega trial is expected to start in the second half of the year, while another has been postponed indefinitely [86][87]

Financial Performance - Total revenue for Q1 2025 was $3,829 million, representing a year-over-year growth of 2.5% on a reported basis and 3.5% at constant currency, with adjusted EBITDA increasing by 2.4% [29][30][31] - Adjusted diluted EPS for Q1 2025 was $2.7, up 6.3% year-over-year [31] - The backlog reached a record $31.5 billion, growing 4.8% compared to the prior year [10][31] Business Segment Performance - Technology and Analytics Solutions (TAS) revenue for Q1 2025 was $1,546 million, up 6.4% reported and 7.6% at constant currency, driven by strong growth in real-world evidence [30][29] - R&D Solutions revenue was $2,102 million, up 0.3% reported and 1.1% at constant currency, with approximately 3% growth when excluding COVID-related work [30] - Contract Sales and Medical Solutions revenue declined by 4.2% reported and 2.1% at constant currency, indicating challenges in this segment [30] Market Insights - The company noted a strong recovery trend in the biopharmaceutical sector, with clients launching new drugs despite a challenging environment [8][10] - The average time from RFP issuance to award increased by approximately 10%, reflecting heightened caution in the sector [10][60] - The funding environment for early-stage projects has deteriorated, impacting decision-making processes [10][60] Strategic Direction and Industry Competition - The company is well-positioned to navigate near-term challenges and remains confident in the industry's resilience and prospects [6][19] - The U.S. biopharmaceutical sector is recognized as a strategic sector deserving strong support, contributing significantly to global drug approvals and economic output [20][21] - The company is focusing on deploying AI agents to enhance productivity and efficiency across its operations [27] Management Commentary on Operating Environment - Management highlighted that while there is uncertainty in the market, leading indicators such as pipeline and decision timelines remain strong [55][56] - The company expects pent-up demand to drive continued growth in necessary spending, particularly in TAS [55][56] - Management acknowledged that the reprioritization of R&D pipelines due to previous regulatory changes is largely complete, but new uncertainties may still cause delays [59][60] Other Important Information - The company repurchased $425 million of its shares during the quarter, with approximately $2.6 billion remaining under the current program [32][36] - Full-year revenue guidance was raised by $275 million, now expecting revenue between $16 billion and $16.4 billion [32][33] Q&A Session Summary Question: Drivers behind the strength in RWE and order book outlook - Management noted that TAS delivered better-than-expected revenue growth, driven largely by strong growth in real-world evidence, and expects this trend to continue due to pent-up demand [38][39] Question: Margin expansion opportunities - Management explained that FX impacts margins, and while there are ongoing cost reduction efforts, the overall margin picture has not changed significantly [43][44] Question: Competitiveness of RFPs and vendor consolidation - Management indicated that RFP flow remains strong, with no significant changes in the flow of RFPs, and noted that large pharma clients are beginning to revert to full-service models [46][49] Question: Impact of uncertainty on TAS - Management acknowledged that while there is uncertainty, leading indicators remain strong, and pent-up demand is driving necessary spending in TAS [55][56] Question: Book-to-bill trends and cancellations - Management attributed softer bookings to delays in contract signings and funding uncertainties, rather than cancellations, and emphasized that the overall growth outlook remains positive [64][66] Question: Pricing environment changes - Management confirmed that there have been no significant changes in the pricing environment, and they are comfortable operating under current conditions [73] Question: Mix of FSO versus FSP and mega trial updates - Management noted a shift back towards full-service work and confirmed that one mega trial is expected to start in the second half of the year, while another has been delayed [82][84]

Exhibit 99.1 IQVIA Reports First-Quarter 2025 Results RESEARCH TRIANGLE PARK, N.C. – (BUSINESS WIRE) – May 6, 2025 – 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 percent on a reported basis an ...

Core Viewpoint - IQVIA Holdings Inc. is set to release its first-quarter 2025 results on May 6, with expectations of revenue growth and earnings per share increase compared to the previous year [1][4]. Revenue Expectations - The Zacks Consensus Estimate for total revenues is $3.8 billion, reflecting a slight year-over-year increase [2]. - Revenues from Research and Development Solutions (R&DS) are anticipated to be $2.1 billion, indicating a 1.6% rise from the previous year [2]. - Technology and Analytics Solutions (TAS) revenues are estimated at $1.5 billion, suggesting a 1% year-over-year growth [3]. - Contract sales and Medical solutions' revenues are projected to be $192 million, implying a 1.8% growth from the year-ago quarter [3]. Earnings Expectations - The consensus estimate for earnings per share is $2.63, suggesting a 3.5% increase year-over-year [4]. - The adjusted EBITDA for the first quarter is estimated at $886.6 million, indicating a 2.9% year-over-year growth [4]. Earnings Prediction Model - The current model does not predict a definitive earnings beat for IQVIA, with an Earnings ESP of -0.27% and a Zacks Rank of 4 (Sell) [5].

Core Insights - Wall Street analysts anticipate IQVIA Holdings (IQV) to report quarterly earnings of $2.63 per share, reflecting a year-over-year increase of 3.5% [1] - Expected revenues for the quarter are projected at $3.77 billion, which represents a 0.9% increase from the previous year [1] Earnings Estimates - Over the last 30 days, the consensus EPS estimate has been revised downward by 0.1%, indicating a collective reassessment by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions to the stock, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock price performance [3] Revenue Projections - Analysts estimate 'Revenues- Technology & Analytics Solutions' to be $1.52 billion, indicating a year-over-year increase of 4.4% [5] - The consensus for 'Revenues- Research & Development Solution' is projected at $2.08 billion, suggesting a decline of 0.9% year over year [5] - 'Revenues- Contract Sales & Medical Solutions' is expected to reach $183.42 million, reflecting a year-over-year decrease of 3% [5] Segment Profit Estimates - The estimated 'Backlog' for IQVIA is $31.43 billion, up from $30.1 billion in the same quarter last year [6] - Analysts project 'Segment Profit- Technology & Analytics Solution' to be $365.56 million, an increase from $335 million reported in the same quarter last year [6] - 'Segment Profit- Contract Sales & Medical Solutions' is expected to be $15.65 million, compared to $13 million in the same quarter last year [7] - The average prediction for 'Segment Profit- Research & Development Solutions' is $471.69 million, slightly down from $479 million reported in the same quarter last year [7] Stock Performance - IQVIA shares have decreased by 11.1% over the past month, contrasting with a decline of 0.7% in the Zacks S&P 500 composite [7] - With a Zacks Rank of 4 (Sell), IQV is expected to underperform the overall market in the near term [7]

The market expects IQVIA Holdings (IQV) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended March 2025. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be release ...

Investment Rating - The report does not explicitly provide an investment rating for the MedTech sector but highlights the ongoing risks and disruptions that could affect investment decisions. Core Insights - The MedTech sector is currently facing significant challenges due to global supply chain issues, trade policy changes, and the imposition of tariffs, particularly from the U.S. on imports from Canada, Mexico, and China. These factors are expected to increase costs for medical devices and negatively impact healthcare systems and sales outside the U.S. [4][5][9] - The report emphasizes the need for MedTech companies to adopt both short- and long-term strategies to navigate these disruptions effectively, including scenario analyses, supply chain diversification, and regulatory compliance [4][30][39]. Summary by Sections Executive Summary - The MedTech sector is experiencing ongoing risk and disruption due to factors such as the semiconductor shortage, supply chain issues from the COVID-19 pandemic, and recent trade policy changes leading to tariffs on imports from Canada, Mexico, and China [4]. - The report outlines strategies for manufacturers to mitigate these risks, emphasizing the importance of scenario analyses and strategic planning [4]. Potential Impact of New Tariffs on MedTech - The U.S. has imposed a 25% additional tariff on imports from Canada and Mexico, with a 10% baseline tariff on all countries. This has created uncertainty in global markets and could lead to increased costs for medical devices [5][6]. - Canada’s medical technology imports from the U.S. accounted for 38% of total imports in 2022, with significant reliance on components from China and Mexico [10][9]. Canada: Impacts on Various Device Categories - Class 3 and 4 medical devices, which include higher-risk and life-sustaining equipment, are expected to be significantly affected by the tariffs, with 90-100% of certain categories imported [13][15]. - The diagnostics sector, particularly in-vitro diagnostics, is heavily reliant on U.S. imports, with around 90% of devices sourced from the U.S. [15]. Canada and the United States: Impact on MedTech Manufacturers - Canadian MedTech manufacturers may face increased production costs due to U.S. tariffs, while U.S. manufacturers may also experience higher costs from tariffs on imports from various countries [22][23]. - The report highlights the importance of collaboration between organizations like MedTech Canada and AdvaMed to address tariff impacts and maintain market access [21][24]. Canada: Resilience in the MedTech Market - Health Canada has established pathways to streamline the importation and sale of medical devices, which could support the Canadian MedTech market amid ongoing disruptions [26][27]. - The report notes that Canadian manufacturers are adapting to the evolving landscape through supply chain modifications and market diversification [28]. Short- to Medium-Term Strategies - Companies are advised to gain comprehensive market insights, accelerate advocacy efforts, diversify supply chains, localize production, and adjust financial strategies to mitigate tariff impacts [30]. - Engaging with stakeholders and enhancing market surveillance systems are crucial for informed decision-making [30]. Medium- to Long-Term Strategies - The report emphasizes the need for supply chain diversification, regulatory agility, and investment in digital transformation to navigate uncertainties effectively [39][40][42]. - Companies should explore strategic partnerships and M&A opportunities to secure cost-effective components and enhance resilience [44]. Conclusion - The Canadian medical device industry is navigating a complex landscape marked by economic uncertainties and shifting trade policies, necessitating resilience and strategic foresight for long-term stability [39][43].