IQVIA(US:IQV)2025-10-28 20:31Revenue Performance - For Q3 2025, total revenues reached $3,896 million, an increase of $204 million or 5.2% compared to Q3 2024, driven by constant currency revenue growth of approximately $150 million or 3.9%[98] - For the first nine months of 2025, revenues increased to $11,946 million, up $499 million or 4.4% from the same period in 2024, with constant currency growth of approximately $418 million or 3.7%[99] - For the third quarter of 2025, total revenues increased to $4,100 million, up 5.2% from $3,896 million in the same period of 2024[115] - Technology & Analytics Solutions reported revenues of $1,631 million for Q3 2025, a 5.0% increase from $1,554 million in Q3 2024, driven by growth in the Americas region[118] - Research & Development Solutions achieved revenues of $2,260 million in Q3 2025, reflecting a 4.5% increase from $2,162 million in Q3 2024, primarily due to growth in the Americas region[129] - Contract Sales & Medical Solutions' revenues for Q3 2025 were $209 million, an increase of $29 million, or 16.1%, compared to Q3 2024[138] - For the first nine months of 2025, revenues reached $578 million, up $37 million, or 6.8%, from the same period in 2024[139] Cost and Expenses - Cost of revenues for Q3 2025 was $2,727 million, representing 66.5% of revenues, an increase of $209 million from Q3 2024, with a constant currency increase of approximately $183 million or 7.3%[100] - Selling, general and administrative expenses for Q3 2025 were $514 million, accounting for 12.5% of revenues, a decrease of $8 million from Q3 2024[102] - Depreciation and amortization for Q3 2025 was $286 million, or 7.0% of revenues, reflecting an increase of $8 million compared to Q3 2024[105] - Restructuring costs for Q3 2025 were $20 million, down from $28 million in Q3 2024, as the company continues to streamline operations[106] - Technology & Analytics Solutions' cost of revenues increased by $252 million, or 9.3%, in the first nine months of 2025 compared to the same period in 2024[122] - Research & Development Solutions' selling, general and administrative expenses increased by $10 million, or 4.5%, in Q3 2025 compared to Q3 2024[135] - Cost of revenues, exclusive of depreciation and amortization, increased by $27 million, or 17.5%, in Q3 2025 compared to Q3 2024[141] - In the first nine months of 2025, cost of revenues rose by $37 million, or 8.0%, compared to the same period in 2024[142] - Selling, general and administrative expenses increased by $1 million, or 7.1%, in Q3 2025, but decreased by $2 million, or 4.4%, in the first nine months of 2025[144][145] Financial Position - The company had a cash balance of $1,814 million as of September 30, 2025, an increase from $1,702 million as of December 31, 2024[148] - Net cash provided by operating activities was $1,919 million for the first nine months of 2025, an increase of $88 million compared to the same period in 2024[159] - Cash used in investing activities was $(1,201) million for the first nine months of 2025, an increase of $67 million compared to the same period in 2024[160] - Cash used in financing activities increased by $182 million to $(685) million during the first nine months of 2025 compared to the same period in 2024[161] - The company repurchased 6.4 million shares for $1,032 million under its equity repurchase program during the nine months ended September 30, 2025[151] Current and Noncurrent Liabilities - Total current assets as of September 30, 2025, decreased to $599 million from $935 million as of December 31, 2024, representing a decline of approximately 36%[168] - Total current liabilities increased to $5,120 million as of September 30, 2025, from $3,792 million as of December 31, 2024, marking an increase of about 35%[168] - Total noncurrent liabilities slightly decreased to $12,223 million as of September 30, 2025, from $12,333 million as of December 31, 2024[168] - Amounts due from subsidiaries that are non-Guarantors decreased to $4,663 million as of September 30, 2025, from $4,952 million as of December 31, 2024, a decline of about 6%[168] - Amounts due to subsidiaries that are non-Guarantors increased to $7,190 million as of September 30, 2025, from $6,341 million as of December 31, 2024, an increase of approximately 13%[168] Income and Taxation - Consolidated segment profit for the first nine months of 2025 was $1,555 million, slightly down from $1,576 million in the same period of 2024[116] - The effective income tax rate for the first nine months of 2025 was 18.3%, compared to 16.8% in the same period of 2024, influenced by changes in the geographical mix of earnings[111] - Net income for the nine months ended September 30, 2025, was $117 million, significantly lower than $554 million for the twelve months ended December 31, 2024, representing a decrease of approximately 79%[168] - Income from operations for the nine months ended September 30, 2025, was $1,074 million, down from $1,259 million for the twelve months ended December 31, 2024, reflecting a decline of approximately 15%[168] Other Information - The company operates through three segments: Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions, each contributing to revenue growth[93] - Approximately 30% of revenues in the first nine months of 2025 were denominated in currencies other than the US dollar, impacting financial results due to exchange rate fluctuations[96] - The contracted backlog for Research & Development Solutions rose from $31.1 billion at the end of 2024 to $32.4 billion by September 30, 2025, with an expected $8.1 billion to convert to revenues in the next twelve months[128] - The company’s equity in earnings (losses) of unconsolidated affiliates showed a loss of $14 million for the first nine months of 2025, a decrease from the previous year[114] - The U.S. government's One Big Beautiful Bill Act is not expected to materially impact the company's consolidated financial statements for 2025[112] - There have been no material changes to critical accounting policies as previously disclosed in the 2024 Form 10-K[171] - The company does not have any material off-balance sheet arrangements[169]