ICLR ICON (ICLR) Q1 FY26 earnings call
ICON plc delivered Q1 FY26 results in line with expectations, driven by strong commercial execution and robust bookings, which saw net business wins increase 42% year-over-year. Despite a constant currency revenue decline and gross margin pressure from prior demand dynamics and mix shifts, the company reaffirmed its full-year guidance. Management is focused on strategic investments in labs and digital innovation, alongside disciplined cost management, to drive sequential margin improvement and long-term growth.
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ICLR operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Gross bookings | $3.3BQuarter 1 gross bookings were $3.3 billion, matching the strong performance in quarter 4 2025 and up 22% year-over-year.Source: earnings call transcript | $3.7BQ2 gross business wins were $3.7 billion, an increase of 24% year-over-year and 13% sequentially with strong performance across the portfolio.Source: earnings call transcript | +12.1% |
| Cancellations | $383MCancellations were also in line with the improved level seen in quarter 4, a total of $383 million for the quarter.Source: earnings call transcript | $562MCancellations totaled $562 million, broadly in line with expectations, resulting in net bookings of $3.1 billion and a net book-to-bill ratio of 1.51x.Source: earnings call transcript | +46.7% |
| Net business wins | $2.88BStrength of gross bookings and cancels resulted in net business wins of $2.88 billion in the quarter, an increase of 42% year-over-year and a net book-to-bill of 1.42x.Source: earnings call transcript | $3.1BCancellations totaled $562 million, broadly in line with expectations, resulting in net bookings of $3.1 billion and a net book-to-bill ratio of 1.51x.Source: earnings call transcript | +7.6% |
| Net book-to-bill | 1.42 xStrength of gross bookings and cancels resulted in net business wins of $2.88 billion in the quarter, an increase of 42% year-over-year and a net book-to-bill of 1.42x.Source: earnings call transcript | 1.51 xCancellations totaled $562 million, broadly in line with expectations, resulting in net bookings of $3.1 billion and a net book-to-bill ratio of 1.51x.Source: earnings call transcript | +6.3% |
| Book-to-bill Direct fee | 1.3 x+Encouragingly, we again saw a solid contribution of direct fee versus pass-through awards with our book-to-bill on a direct fee basis in excess of 1.3x for the quarter.Source: earnings call transcript | 1.2 xDirect fee bookings also remained strong, resulting in a direct fee net book-to-bill ratio of 1.2x.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
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