IQVIA (NYSE:IQV) Q4 2025 Earnings call February 05, 2026 09:00 AM ET Company ParticipantsAri Bousbib - CEODavid Windley - Managing Director and Founding memberKerri Joseph - Senior VP of Investor Relations and TreasuryMike Fedock - VP, Financial Planning and AnalysisRon Bruehlman - EVP and CFOShlomo Rosenbaum - Managing Director in the Business Services SectorConference Call ParticipantsElizabeth Anderson - Senior Managing Director and Healthcare Services Equity Research AnalystEric Coldwell - Senior Resear ...

IQVIA (NYSE:IQV) Q4 2025 Earnings call February 05, 2026 09:00 AM ET Company ParticipantsAri Bousbib - CEODavid Windley - Managing Director and Founding memberKerri Joseph - VP of Investor RelationsMike Fedock - VP, Financial Planning and AnalysisRon Bruehlman - EVP and CFOShlomo Rosenbaum - Managing Director in the Business Services SectorConference Call ParticipantsElizabeth Anderson - Senior Managing Director and Healthcare Services Equity Research AnalystEric Coldwell - Senior Research AnalystJustin Bow ...

IQVIA (NYSE:IQV) Q4 2025 Earnings call February 05, 2026 09:00 AM ET Speaker7Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the IQVIA Fourth Quarter 2025 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would ...

Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $603.3 million, representing a year-over-year increase of 14.2% and 13.8% on a constant currency basis [9][10] - EBITDA for Q2 2025 was $130.5 million, an increase of 16.2% compared to $112.3 million in Q2 2024, with an EBITDA margin of 21.6% [11][12] - Net income for Q2 2025 was $90.3 million, a 2.2% increase from $88.4 million in the prior year [12] Business Line Data and Key Metrics Changes - Net new business awards entering backlog in Q2 increased by 12.6% year-over-year to $620.5 million, resulting in a net book-to-bill ratio of 1.03 [9] - Ending backlog as of June 30, 2025, was approximately $2.9 billion, a decrease of 1.8% from the prior year [9] Market Data and Key Metrics Changes - The funding environment has stabilized and improved, allowing most clients with ongoing studies to secure sufficient funding [8] - The company anticipates a shift in business towards faster-burning therapeutic areas, which have a higher concentration of reimbursable costs [14] Company Strategy and Development Direction - The company raised its revenue guidance for 2025 by $280 million at the midpoint, now expecting total revenue in the range of $2.42 billion to $2.52 billion [14] - The strategy includes focusing on faster-burning therapeutic areas and improving operational efficiency to enhance productivity [10][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about accelerating revenue in the second half of the year due to improved funding, fewer cancellations, and rapid project start-ups [8] - There is a cautious outlook regarding potential future cancellations, which could impact 2026 revenue growth [29][30] Other Important Information - The company repurchased approximately 1.75 million shares for $518.5 million in Q2 2025, with $826.3 million remaining under the share repurchase authorization program [13] - The effective tax rate for 2025 is expected to be between 18.5% and 19% [14] Q&A Session Summary Question: What are the booking expectations for the second half? - Management expects bookings to increase, with a reasonable chance of achieving a book-to-bill ratio above 1.15, depending on cancellation rates [18] Question: Can you provide information on cancellations? - Cancellations were down across the portfolio, with rates lower than historical averages, contributing to better-than-expected performance [19] Question: How does the increased guidance break down between pass-through and direct revenue? - The increase is largely due to accelerated reimbursable cost activity, but there is also improved productivity from existing staff [24] Question: What is the outlook for funding and demand? - Management is cautious about the weak funding environment but has visibility into awarded projects that should support bookings [28][29] Question: What characterized the win rate this quarter? - The win rate was lower due to the loss of a few large projects, but overall decisions increased, leading to good new awards [46][52] Question: What is the expected hiring trend for the second half? - The company anticipates accelerated hiring in the second half, aiming for mid to upper single-digit growth in headcount [82][101]