IQVIA HOLDINGS (IQV) Company Report

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.

Nov 11, 2025, 10:03 PM

Press Release

IQVIA discusses Q3 demand rebound and outlook at UBS Healthcare Conference

IQV

Guidance Update

IQVIA delivered Q3 results at the high end of guidance, including >5% planned revenue growth for FY25, $2.6 billion of net new clinical bookings, a 1.15 book-to-bill, and 20% YoY RFP growth.
Post-COVID overinvestment, IRA-driven trial cancellations, and regulatory uncertainty are easing, with Q3 bookings up 21% sequentially and 13% YoY, signaling a trough in late 2024/early 2025.
Reaffirms 6–9% long-term revenue growth and flat to +30 bp annual EBITDA margin expansion, supported by AI-driven efficiency initiatives and scale advantages.

Nov 11, 2025, 5:30 PM

Transcript

IQVIA discusses Q3 trends and outlook at UBS Global Healthcare Conference 2025

IQV

Guidance Update

Q3 results came in at the high end of guidance, with management reaffirming a plan to deliver >5% revenue growth for 2025.
Clinical bookings showed a 1.15 book-to-bill, $2.6 billion of net new business, and RFPs up 20% YoY; decision timelines are returning to normal after recent industry uncertainty.
Industry headwinds—post-COVID overinvestment unwind, IRA-related trial cancellations, and macro policy uncertainty—have largely passed, driving improved client decision cycles.
Maintains a long-term target of 6–9% revenue growth and flat to +30 bps annual EBITDA margin expansion, supported by business-mix optimization and AI-driven efficiency initiatives.

Nov 11, 2025, 5:30 PM

Transcript

IQVIA discusses Q3 2025 performance and outlook

IQV

Guidance Update

Revenue Acceleration/Inflection

IQVIA reported Q3 2025 clinical net bookings of $2.6 billion and a 1.15 book-to-bill ratio, with RFPs up 20% year-over-year as decision timelines normalize after industry uncertainty.
Management noted that post-COVID investment pullback, IRA-related trial cancellations, and policy uncertainty have largely abated, driving improved client decision timelines and stronger bookings momentum.
The company settled its IP dispute with Veeva to enable better interoperability between data, services, and technology platforms, aligning with its AI-driven efficiency strategy.
IQVIA plans to deliver >5% full-year 2025 revenue growth, and maintain a 6–9% long-term top-line growth target with flat to +30 bps annual EBITDA margin expansion, underpinned by AI-based operating efficiencies.

Nov 11, 2025, 5:30 PM

Transcript

IQVIA reports Q3 2025 results

IQV

Earnings

Guidance Update

Revenue: $4.1 B, +5.2% reported (+3.9% cc); TASS $1.631 B (+5%), R&D Solutions $2.26 B (+4.5%), CSMS $209 M (+16.1%)
Profitability: Adjusted EBITDA $949 M (+1.1%) and adjusted diluted EPS $3 (+5.6% Y/Y); GAAP diluted EPS $1.93
Record free cash flow: $772 M, driven by $908 M cash from operations and $136 M capex
Strong bookings & backlog: Q3 net bookings $2.6 B (book-to-bill 1.15x); backlog $32.4 B, +4.1% Y/Y
Guidance reaffirmed: FY 2025 revenue $16.15–16.25 B (∼5.2% growth at midpoint), adj. EPS $11.85–11.95; Q4 revenue $4.204–4.304 B

Oct 28, 2025, 1:00 PM

Transcript

IQVIA reports Q3 2025 results

IQV

Earnings

Guidance Update

CFO Change

Revenue of $4.1 billion (up 5.2% y/y) with adjusted EBITDA of $949 million (+1.1%) and adjusted EPS of $3.00 (+5.6%)
Record free cash flow of $772 million, driven by operating cash flow of $908 million and capital expenditures of $136 million in the quarter
R&D Solutions net bookings of $2.6 billion (up 13% y/y) and a book-to-bill ratio of 1.15x, with backlog reaching $32.4 billion (up 4.1% y/y)
Full-year 2025 guidance reaffirmed: revenue of $16.15–16.25 billion, adjusted EBITDA of $3.775–3.8 billion, and adjusted EPS of $11.85–11.95
CFO transition announced: Mike Fedock to succeed Ron Bruehlman on February 28, 2026; Bruehlman to remain as Senior Advisor

Oct 28, 2025, 1:00 PM

Transcript

IQVIA reports Q3 2025 results

IQV

Earnings

Guidance Update

Revenue of $4.1 B grew 5.2% year-over-year (3.9% at constant currency) and adjusted diluted EPS rose 5.6% to $3.00, while adjusted EBITDA increased 1.1%.
Record free cash flow of $772 M, reflecting $908 M cash from operations less $136 M in capex.
Clinical net bookings reached $2.6 B (book-to-bill ratio of 1.15×), up 13% year-over-year, lifting backlog to $32.4 B, a 4.1% increase.
Segment revenues: Technology & Analytics Solutions $1.631 B (+5.0%), R&D Solutions $2.26 B (+4.5%), and CSMS $209 M (+16.1%).
Full-year 2025 guidance reaffirmed: revenue $16.15–16.25 B, adjusted EPS $11.85–11.95, and Q4 revenue $4.204–4.304 B.

Oct 28, 2025, 1:00 PM

Transcript

IQVIA reports Q3 2025 results

IQV

Earnings

Guidance Update

Revenue for Q3 2025 was $4.10 billion, up 5.2% on an actual currency basis and 3.9% on a constant currency basis.
Adjusted EBITDA reached $949 million, a 1.1% increase on an actual currency basis, and Adjusted Diluted EPS was $3.00, up 5.6% on an AFx basis.
GAAP Net Income was $331 million, with Diluted EPS of $1.93.
Full-year 2025 guidance was reiterated at $16.15–16.25 billion for revenue, $3.775–3.800 billion for Adjusted EBITDA and $11.85–11.95 for Adjusted Diluted EPS; Q4 2025 revenue is guided at $4.204–4.304 billion.
As of September 30, 2025, net debt stood at $13.143 billion with a 3.52x net leverage ratio.

Oct 28, 2025, 1:00 PM

Presentation

IQVIA reports Q3 2025 results

IQV

Earnings

Guidance Update

Revenue reached $4,100 million, up 5.2% year-over-year in Q3 2025
GAAP net income was $331 million with GAAP diluted EPS of $1.93, and Adjusted diluted EPS of $3.00
Free cash flow was $772 million, up 35% year-over-year, representing 150% of adjusted net income
R&D Solutions bookings totaled $2.6 billion (book-to-bill 1.15x), and contracted backlog reached $32.4 billion, up 4.1% year-over-year
Full-year 2025 guidance reaffirmed: revenue of $16,150 – 16,250 million, Adjusted EBITDA of $3,775 – 3,800 million, and Adjusted EPS of $11.85 – 11.95

Oct 28, 2025, 11:05 AM

8-K

IQVIA Reports Q3 2025 Results

IQV

Earnings

Revenue Acceleration/Inflection

Revenue of $4.10 billion, up 5.2% year-over-year (3.9% at constant currency)
GAAP Net Income of $331 million; GAAP Diluted EPS of $1.93; Adjusted EBITDA of $949 million; Adjusted Diluted EPS of $3.00
R&D Solutions net bookings of $2.6 billion (book-to-bill of 1.15x) and a contracted backlog of $32.4 billion, up 4.1% year-over-year
Operating Cash Flow of $908 million; Free Cash Flow of $772 million, representing 150% of Adjusted Net Income and up 35% year-over-year

Oct 28, 2025, 11:00 AM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for IQVIA HOLDINGS.