IQV IQVIA (IQV) Q3 FY25 earnings call
IQVIA delivered a strong Q3 FY25, marked by record free cash flow and significant improvements in clinical demand metrics, including a 1.15x net book-to-bill ratio and 20% year-over-year RFP flow growth. The company reaffirmed its full-year guidance, reflecting confidence in the sustained recovery of the market environment and solid operational execution across its Technology & Analytics Solutions (TAS) and R&D Solutions (R&DS) segments. Management also highlighted strategic investments in AI and commercial outsourcing capabilities.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
IQV operating KPIs by quarter
| KPI | Dec 2024 Q4 FY24 | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | This call Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Net new bookings R&D Solutions | $2.5B+On the clinical side, net new bookings for the quarter were over $2.5 billion, and this all highlights the great work that was done by our R&DS team in securing new business contracts.Source: earnings call transcript | — | — | — | — | $2.5BOn this new basis, R&D Solutions net new bookings in Q1 2026 was $2.5 billion, a double-digit increase year-over-year.Source: earnings call transcript | — | — |
| Backlog R&D Solutions | $31.1BR&DS backlog at December 31 was $31.1 billion, an increase of 4.4% year-over-year and 5.5% at constant currency.Source: earnings call transcript | $31.5BR&DS backlog at March 31 was $31.5 billion, an increase of 4.8% year-over-year and 4.6% at constant currency.Source: earnings call transcript | $32.1BR&DS backlog at June 30 was $32.1 billion, an increase of 5.1% year-over-year.Source: earnings call transcript | $32.4BFinally, our backlog reached a new record of $32.4 billion at the end of the quarter showing growth of 4.1% compared to the prior year.Source: earnings call transcript | $32.7BBacklog reached a new record of $32.7 billion at the end of the quarter, growing 5.3% compared to the prior year.Source: earnings call transcript | $34.2BRDS backlog at March 31 was $34.2 billion, which is an increase of mid-single digit year-over-year.Source: earnings call transcript | $34.2BAs of June 30, R&DS backlog was $34.2 billion and the next 12-month revenue from this backlog was $9.230 billion which is up 7.5% versus last year.Source: earnings call transcript | 0% |
| Book-to-bill ratio | — | — | — | — | — | 1.04 ratioWhile our book-to-bill ratio 1.04 in the quarter despite solid service fee bookings growth and normal cancellations.Source: earnings call transcript | 1.22 ratioIf I may add, this 1.22 was in a quarter where our revenue was up almost 9% year-over-year, stronger than anticipated.Source: earnings call transcript | +17.3% |
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.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.