Question · Q3 2025
Eugene Park asked for more color on biopharma laboratory services (BLS) bookings, differentiating between central laboratories and early development, and acknowledging the chunky nature of central lab bookings.
Answer
Chairman and CEO Adam Schechter stated the overall book-to-bill was 0.9 for the quarter, lower than the desired 1.0-1.05, but the trailing 12-month book-to-bill remained strong at 1.09. He expects Q4 book-to-bill to improve sequentially. Central laboratory book-to-bill remains very strong. For early development, book-to-bill is typically lower due to shorter study durations, with delayed study starts being the primary issue, not RFPs or win rates.