IQVIA Holdings Quarterly Report for Q3 Ended Sep 30, 2025

IQVIA Holdings Inc. reported third-quarter 2025 revenues of $4.10 billion^a, up $204 million, or 5.2%, from $3.90 billion a year earlier, with constant currency revenue growth of approximately $150 million, or 3.9%.

Income from operations was $553 million^b versus $550 million, while net income attributable to IQVIA Holdings Inc. rose to $331 million from $285 million. Diluted earnings per share were $1.93 compared with $1.55. For the first nine months of 2025, revenues were $11.95 billion, up 4.4%, and diluted EPS was $4.86 versus $5.08 a year earlier, as net income attributable to the company fell to $846 million from $936 million.

Interest expense increased to $536 million^c for the nine months from $499 million, reflecting higher outstanding debt balances. The balance sheet and cash flow reflect active capital management. Total debt principal rose to $15.03 billion, including the issuance of $2.00 billion of 6.250% senior notes due 2032 in June 2025, and the current portion of long-term debt increased to $2.16 billion.

The company repurchased 6.4 million shares for $1.03 billion^d during the nine months, leaving $1.98 billion of remaining authorization under the Repurchase Program. Net cash provided by operating activities was $1.92 billion for the nine months, compared with $1.83 billion a year earlier. Goodwill increased to $15.95 billion, largely from acquisitions and foreign currency effects, and the company reported total backlog for Research & Development Solutions of $32.4 billion.

The company also disclosed that in August 2025 the parties to its long-running Veeva litigation reached a complete resolution of all pending legal disputes, with no payment made by either party. Management stated that it believed its disclosure controls and procedures were effective as of September 30, 2025, and that the company was in compliance in all material respects with its financial covenants.