IQVIA Reports Second-Quarter 2025 Results

IQVIA Holdings Inc., a leading global provider of clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries, has released its financial results for the second quarter of 2025. The company reported a solid performance with notable growth in revenue and earnings, reflecting its robust operational capabilities and strategic initiatives.

Financial Highlights

For the second quarter of 2025, IQVIA reported revenue of $4,017 million, marking a 5.3% increase year-over-year. The company's GAAP Net Income stood at $266 million, with a GAAP Diluted Earnings per Share (EPS) of $1.54. Adjusted EBITDA was reported at $910 million, up 2.6% from the previous year. Adjusted Net Income was $486 million, translating to an Adjusted Diluted EPS of $2.81.

Business and Operational Highlights

IQVIA's Technology & Analytics Solutions (TAS) segment saw a revenue increase of 8.9% year-over-year, reaching $1,628 million. The Research & Development Solutions (R&DS) segment reported revenue of $2,201 million, a 2.5% increase from the previous year. The Contract Sales & Medical Solutions (CSMS) segment also performed well, with revenue rising by 9.3% to $188 million.

As of June 30, 2025, the R&DS contracted backlog was $32.1 billion, up 5.1% year-over-year. The company expects approximately $8.1 billion of this backlog to convert to revenue within the next twelve months.

Strategic Initiatives and Corporate Developments

During the second quarter, IQVIA repurchased $607 million of its common stock, bringing the total share repurchases for the first half of 2025 to $1,032 million. The company also reported a strong financial position with cash and cash equivalents of $2,039 million and a net debt of $13,451 million as of June 30, 2025.

Management's Perspective

Ari Bousbib, chairman and CEO of IQVIA, commented on the results, stating, "IQVIA delivered strong financial results, with revenue above target and profit towards the high-end of expectations. Our TAS segment performed well with high single digits year-over-year revenue growth. In the clinical development business, forward-looking demand indicators improved, with net bookings up 15 percent quarter-over-quarter, and RFP flow growing high single digits sequentially and low teens year-over-year. These results underscore the resilience of our global diversified portfolio and the team's ability to execute consistently against our strategic and financial objectives."

Future Outlook

IQVIA has updated its full-year 2025 guidance, projecting revenue between $16,100 million and $16,300 million. The company also expects Adjusted EBITDA to be in the range of $3,750 million to $3,825 million, with Adjusted Diluted EPS between $11.75 and $12.05. This guidance assumes a $100 million step-down in COVID-related revenue, a 100 basis points tailwind from foreign exchange, and a 150 basis points contribution from acquisitions.

SEC Filing: IQVIA HOLDINGS INC. [ IQV ] - 8-K - Jul. 22, 2025