Earnings summaries and quarterly performance for IQVIA HOLDINGS.
Executive leadership at IQVIA HOLDINGS.
Ari Bousbib
Chief Executive Officer
Bhavik Patel
President, Commercial Solutions
Eric Sherbet
Executive Vice President, General Counsel and Secretary
Ronald Bruehlman
Executive Vice President and Chief Financial Officer
W. Richard Staub
President, Research & Development Solutions
Board of directors at IQVIA HOLDINGS.
Carol Burt
Director
Colleen Goggins
Director
James Fasano
Director
John Danhakl
Director
John Leonard
Lead Independent Director
Leslie Wims Morris
Director
Sheila Stamps
Director
Todd Sisitsky
Director
William Kaelin Jr.
Director
Research analysts who have asked questions during IQVIA HOLDINGS earnings calls.
David Windley
Jefferies Financial Group Inc.
7 questions for IQV
Elizabeth Anderson
Evercore ISI
7 questions for IQV
Shlomo Rosenbaum
Stifel, Nicolaus & Company, Incorporated
7 questions for IQV
Justin Bowers
Deutsche Bank AG
6 questions for IQV
Eric Coldwell
Robert W. Baird & Co.
5 questions for IQV
Ann Hynes
Mizuho Financial Group
3 questions for IQV
Jeffrey Garro
Stephens Inc.
3 questions for IQV
Michael Cherny
Leerink Partners
3 questions for IQV
Michael Ryskin
Bank of America Merrill Lynch
3 questions for IQV
Jack Meehan
Nephron Research LLC
2 questions for IQV
Jailendra Singh
Truist Securities
2 questions for IQV
Anne McCormick
JPMorgan Chase & Co.
1 question for IQV
Charles Rhyee
TD Cowen
1 question for IQV
Christine Rains
William Blair
1 question for IQV
Daniel Clark
Leerink Partners
1 question for IQV
Dan Leonard
UBS Group AG
1 question for IQV
Luke Sergott
Barclays
1 question for IQV
Matthew Sykes
Goldman Sachs Group Inc.
1 question for IQV
Salem Salem
Barclays
1 question for IQV
Shlomo Rosenbaum
Stifel Financial Corp.
1 question for IQV
Tejas Savant
Morgan Stanley
1 question for IQV
Recent press releases and 8-K filings for IQV.
- The generative AI in life sciences market is projected to grow from USD 233.74 million in 2024 to USD 1,544.13 million by 2034, at a CAGR of 20.78%.
- IQVIA’s 2024 revenue was USD 15.4 billion, driven by its clinical trial, real-world data, and analytics platforms.
- Key players leveraging AI include Medidata Solutions (SaaS trial platforms), Owkin SA (drug discovery algorithms), Insilico Medicine (molecular design), Heidi Health (clinical workflow automation), and OpenEvidence (AI-driven clinical insights).
- Public sector initiatives—over 500 FDA tech-integrated drug submissions (2016–2023) and the NIH All of Us program ($130 million funding, 297,549 participants)—are bolstering data availability for personalized medicine.
- AI tools are enhancing trial efficiency, patient selection, data interpretation, and automating administrative tasks, thereby accelerating drug development and improving care delivery.
- Q4 revenue of $4,364 M (+10.3% reported; +8.1% constant currency); full-year revenue $16.31 B (+5.9% reported; +4.8% cc).
- Q4 adjusted EPS of $3.42 (+9.6% YoY); full-year adjusted EPS $11.92 (+7.1% YoY).
- Q4 clinical net bookings of $2.7 B (+7% YoY) with a book-to-bill of 1.18; backlog reached $32.7 B (+5.3% YoY).
- Q4 free cash flow $561 M; full-year free cash flow $2.051 B (~100% of adjusted net income); net debt $13.744 B (3.63× trailing EBITDA).
- 2026 guidance: revenue $17.15 B–17.35 B, adjusted EPS $12.55–12.85; 2025 segment recast shows Commercial Solutions at $6.74 B and R&DS at $9.57 B.
- IQVIA delivered Q4 revenue of $4,364 M, up 10.3% year-over-year on an actual FX basis; Adjusted EBITDA was $1,046 M and Adjusted diluted EPS was $3.42.
- Full-year 2025 revenue reached $16,310 M, up 5.9% year-over-year, with Adjusted EBITDA of $3,788 M.
- Operating cash flow for Q4 was $735 M and free cash flow was $561 M, with a net leverage ratio of 3.63x as of December 31, 2025.
- For full-year 2026, the company guides revenue of $17,150 M–$17,350 M, Adjusted EBITDA of $3,975 M–$4,025 M, and Adjusted EPS of $12.55–$12.85.
- Q4 revenue of $4.364 billion (+10.3% reported, +8.1% constant currency), adjusted EBITDA of $1.046 billion (+5%), adjusted EPS of $3.42 (+9.6%), and R&DS backlog of $32.7 billion (+5.3%).
- Full-year 2025 revenue of $16.31 billion (+5.9% reported, +4.8% constant currency), free cash flow of $2.051 billion (≈99% of adjusted net income), and $1.244 billion returned via share repurchases at an average price of $169.
- 2026 guidance: revenue of $17.15–17.35 billion, adjusted EBITDA of $3.975–4.025 billion, and adjusted EPS of $12.55–12.85; 2025 segment recast shows Commercial Solutions at $6.74 billion and R&DS at $9.57 billion.
- CFO Ron Bruehlman will transition to a senior advisory role after this call, marking his final earnings presentation in the CFO role.
- Q4 2025 revenue was $4.364 billion, up 10.3% reported (8.1% cc); Q4 adjusted EPS was $3.42, up 9.6% YoY. Full-year revenue was $16.31 billion, up 5.9% reported (4.8% cc), with adjusted EPS of $11.92, up 7.1%.
- Free cash flow totaled $561 million in Q4 and $2.051 billion for FY 2025 (99% of adjusted net income); backlog reached $32.7 billion, up 5.3%, covering $8.3 billion of next-12-month revenue.
- 2026 guidance calls for full-year revenue of $17.15 – 17.35 billion and adjusted diluted EPS of $12.55 – 12.85.
- Beginning in 2026, reporting will be streamlined into two segments—Commercial Solutions and R&DS—with 2025 recast revenues of $6.74 billion and $9.57 billion, respectively.
- Longtime CFO Ron Bruehlman will transition to a senior advisory role after this Q4 earnings call.
- IQVIA delivered $4,364 million in Q4 2025 revenue (up 10.3% reported, 8.1% cc) and $16,310 million for FY 2025 (up 5.9% reported, 4.8% cc).
- Q4 GAAP net income was $514 million (+17.6% YoY) with diluted EPS of $2.99 (+23.6%), and FY 2025 GAAP net income was $1,360 million (–0.9%) with diluted EPS of $7.84 (+4.7%).
- Adjusted EBITDA totaled $1,046 million in Q4 2025 (+5.0%) and $3,788 million for FY 2025 (+2.8%); adjusted diluted EPS was $3.42 in Q4 2025 (+9.6%) and $11.92 for the full year (+7.1%).
- FY 2025 operating cash flow was $2,654 million and free cash flow was $2,051 million (99% of adjusted net income).
- For FY 2026, IQVIA expects revenue of $17,150 million–$17,350 million, adjusted EBITDA of $3,975 million–$4,025 million and adjusted diluted EPS of $12.55–$12.85.
- Revenue of $4,364 million in Q4 and $16,310 million for FY 2025, reflecting 10.3% and 5.9% year-over-year growth, respectively.
- GAAP diluted EPS of $2.99 in Q4 and $7.84 for the full year; Adjusted EPS of $3.42 in Q4 and $11.92 for FY 2025.
- R&D Solutions quarterly bookings exceeded $2.7 billion with a contracted backlog of $32.7 billion as of December 31, 2025.
- 2026 guidance: revenue of $17,150 million–$17,350 million, Adjusted EBITDA of $3,975 million–$4,025 million, and Adjusted diluted EPS of $12.55–$12.85.
- Atea will present its 2026 strategic priorities—including HCV and HEV pipeline updates—at the 44th Annual J.P. Morgan Healthcare Conference on January 12–15, 2026.
- The company closed 2025 with $301.8 million in cash and investments, projecting a cash runway through 2027.
- Its global Phase 3 HCV program comprises the fully enrolled C-BEYOND study (880+ patients, topline mid-2026) and the C-FORWARD trial (completion mid-2026, topline year-end 2026).
- Atea’s new HEV program has advanced AT-587 as the lead candidate with first-in-human Phase 1 dosing anticipated mid-2026.
- IQVIA Holdings announced Amendment No. 5 to its Fifth Amended and Restated Credit Agreement, executed December 9, 2025, with Bank of America as administrative agent and a syndicate of lenders.
- The amendment provides $2.00 billion in revolving credit commitments, $2.19 billion in Term A dollar commitments, and €250 million in Term A euro commitments.
- Financial covenants are reset to a Senior Secured Net Leverage Ratio of 4.00 to 1.00 and an Interest Coverage Ratio of 3.00 to 1.00, effective with the quarter ending December 31, 2025.
- Prokarium appoints Ibs Mahmood as CEO, succeeding Kristen Albright who moves to the board.
- Mahmood has 25 years of biotech entrepreneurial leadership, co-founded AMO Pharma, DrugDev, and Induction Healthcare, and held executive roles at IQVIA, Abingworth, Shire Pharma, and Investec, raising over $300 million for his ventures and $2 billion for clients.
- Board Chair Ted Fjällman highlights Mahmood’s blend of medical expertise and entrepreneurial experience will accelerate Prokarium’s clinical programs in bladder cancer immunotherapy.
- Prokarium, based in London, is a clinical-stage biopharma developing Living Cures via synthetic biology, with its lead bladder cancer program in US trials.
Quarterly earnings call transcripts for IQVIA HOLDINGS.
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