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IQVIA Holdings 8-K Report, Financial Results (May 6, 2025)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed May 6, 2025
Period End
May 6, 2025
Security
IQV
In the record · 2016–202610-K1110-Q338-K130

IQV filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 130 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Jun ’18Jun ’18
  2. Leadership change8-K · Jul ’20Jul ’20
  3. Leadership change8-K · Oct ’22Oct ’22
  4. Material agreement8-K · Sep ’26Sep ’26

01—Abstract

Summary

Summary of the 8-K filed May 6, 2025. Cited figures are marked; the original filing is the authoritative source.

IQVIA Holdings Inc. reported first-quarter 2025 results on May 6, 2025, with revenue of $3,829 milliona, up 2.5 percent on a reported basis and 3.5 percent at constant currency.

GAAP net income was $249 millionb and GAAP diluted earnings per share were $1.40, while Adjusted EBITDA was $883 million, up 2.4 percent year-over-year, and Adjusted Diluted Earnings per Share were $2.70, up 6.3 percent. Technology & Analytics Solutions (TAS) was the standout segment, with revenue of $1,546 million growing 7.6 percent at constant currency. Management attributed softness in clinical trial business to delayed customer decision-making on new programs amid macroeconomic and industry uncertainty, though R&DS forward-looking indicators such as qualified pipeline, RFP flow and backlog continued to grow.

R&DS revenue of $2,102 millionc rose 0.3 percent on a reported basis, and contracted backlog reached $31.5 billion, up 4.8 percent year-over-year. First-quarter R&DS net new bookings were $2.1 billion, for a trailing-twelve-month book-to-bill ratio of 1.14x. Contract Sales & Medical Solutions revenue declined 4.2 percent on a reported basis to $181 million.

The company raised full-year 2025 revenue guidance to between $16,000 milliond and $16,400 million, reflecting favorable foreign currency movements, and reaffirmed Adjusted EBITDA guidance of $3,765 million to $3,885 million and Adjusted Diluted EPS guidance of $11.70 to $12.10. Balance sheet metrics show debt of $14,330 million, net debt of $12,590 million and a Net Leverage Ratio of 3.40x. The company repurchased $425 million of common stock during the quarter and had $2,588 million of authorization remaining.

02—Key points

Key Highlights

  1. Q1 2025 revenue of $3,829 million, up 2.5 percent reported and 3.5 percent at constant currency
  2. GAAP diluted EPS of $1.40 and Adjusted Diluted EPS of $2.70, up 6.3 percent year-over-year
  3. TAS revenue of $1,546 million, up 6.4 percent reported and 7.6 percent at constant currency
  4. R&DS contracted backlog of $31.5 billion, up 4.8 percent year-over-year; trailing-twelve-month book-to-bill of 1.14x
  5. Full-year 2025 revenue guidance raised by $275 million to $16,000-$16,400 million on favorable currency; Adjusted EBITDA and Adjusted EPS guidance reaffirmed
  6. Net Leverage Ratio of 3.40x with net debt of $12,590 million at March 31, 2025
  7. Repurchased $425 million of common stock in the quarter, with $2,588 million of authorization remaining

03—Questions

Frequently Asked Questions

  1. Why did IQVIA raise its 2025 revenue guidance?

    The company raised full-year 2025 revenue guidance to between $16,000 million and $16,400 million to reflect more favorable foreign currency exchange rates since its prior guidance. Profit guidance was reaffirmed, with Adjusted EBITDA of $3,765 million to $3,885 million and Adjusted Diluted EPS of $11.70 to $12.10.

  2. What drove the slowdown in clinical trial business?

    Management said customers delayed decision-making on new clinical trial programs, reflecting incremental macroeconomic and industry sector uncertainty. The company noted, however, that qualified pipeline, RFP flow and backlog continued to grow.

  3. How did the Technology & Analytics Solutions segment perform?

    TAS revenue was $1,546 million, up 6.4 percent on a reported basis and 7.6 percent at constant currency. Management described the segment as delivering above-target performance.

  4. What is IQVIA's debt and leverage position?

    As of March 31, 2025, cash and cash equivalents were $1,740 million and debt was $14,330 million, resulting in net debt of $12,590 million. The Net Leverage Ratio was 3.40x trailing twelve-month Adjusted EBITDA, and the Gross Leverage Ratio was 3.87x.

  5. How much cash did the company generate and return to shareholders?

    Operating cash flow was $568 million and free cash flow was $426 million in the first quarter. The company repurchased $425 million of common stock during the quarter and had $2,588 million of share repurchase authorization remaining as of March 31, 2025.

04—Continue

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