ICON plc(US:ICLR)2025-07-24 12:00Financial Performance - ICON's closing backlog increased to $25 billion, representing a 4.9% growth[10] - Revenue for Q2 2025 was $2017 million[12] - Adjusted EBITDA margin was 19.6% for Q2 2025[19] - Adjusted earnings per share was $3.26 for Q2 2025[22] Customer Concentration - Top 1-5 customers accounted for 25.9% of total revenue in Q2 2025[15] - Top 6-10 customers accounted for 14.8% of total revenue in Q2 2025[15] - Top 11-25 customers accounted for 34.3% of total revenue in Q2 2025[15] Cash Flow - TTM (Trailing Twelve Months) Cash Flow from Operations was $1327.3 million[25] - TTM Free Cash Flow was $1182.1 million[25] Guidance - Total capital expenditure spend is expected to be approximately $200 million for 2025[28] Strategic Considerations - The company is focused on disciplined deployment of capital, including returning capital to shareholders and strategic M&A[8] - The clinical market remains variable due to macro uncertainty and muted funding[8]