Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q1 2025 Earnings Presentation
15 slides from Iqvia's earnings presentation, May 6, 2025
Slide 1: Q1 2025 Earnings Call
Q1 2025 Earnings Call May 6, 2025 1
Slide 2: Legal: Safe Harbor Statement for Forward-Looking Statements
Legal This presentation should be viewed in conjunction with IQVIA’s Q1 2025 earnings call Safe Harbor Statement for Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 19
Slide 3: Legal: Non-GAAP Information
Legal Non-GAAP Information This presentation includes information based on financial measures that are not recognized under generally accepted accounting principles in the United States (“GAAP”), such as Adjusted EBITDA, Adjusted Net Income, Adjusted Diluted Earnings per Share, Gross Leverage Ratio,
Slide 4: 1st Quarter Results
1st Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 2.5% AFx 3.5% CFx 2.4% AFx 6.3% AFx $3,829 $3,737 $2.70 $883 $862 $2.54 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Q1 2025 Q1 2024 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is consta
Slide 5: 1st Quarter Revenue
1st Quarter Revenue $M 2025 2024 VPY% AFx VPY% CFx Technology & Analytics Solutions $1,546 $1,453 6.4% 7.6% Research & Development Solutions $2,102 $2,095 0.3% 1.1% Contract Sales & Medical Solutions $181 $189 (4.2)% (2.1)% Revenue $3,829 $3,737 2.5% 3.5% Dollars are at actual foreign exchange rates
Slide 6: 1st Quarter Profit
1st Quarter Profit $M, except per share data 2025 2024 Adjusted EBITDA (1) $883 $862 Net Income $249 $288 Diluted Earnings per Share $1.40 $1.56 Adjusted Net Income (1) $479 $468 Adjusted Diluted Earnings per $2.70 $2.54 Share (1) Dollars are at actual foreign exchange rates. (1) See reconciliations
Slide 7: R&D Solutions Backlog
R&D Solutions Backlog $B Up 25% since Q1 2022 Up vPY 4.8% AFx and 4.6% CFx Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency. 7
Slide 8: 1st Quarter Balance Sheet and Cash Flow Items and Metrics
1st Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $1,740 Gross Debt $14,330 Net Debt $12,590 Gross Leverage Ratio (1) 3.87x Net Leverage Ratio (1) 3.40x Net Cash Provided by Operating Activities $568 Capital Expenditures $142 Free Cash Flow (2) $426 Dollars are at
Slide 9: Full-Year 2025 Guidance
Full-Year 2025 Guidance $M, except per share data Revenue $16,000 – $16,400 Adj. EBITDA $3,765 – $3,885 Adj. Diluted EPS $11.70 – $12.10 All financial guidance assumes May 5, 2025 foreign exchange rates remain in effect for the guidance period. 9
Slide 10: Q2 2025 Guidance
Q2 2025 Guidance $M, except per share data Revenue $3,925 – $4,000 Adj. EBITDA $895 – $915 Adj. Diluted EPS $2.72 – $2.83 All financial guidance assumes May 5, 2025 foreign exchange rates remain in effect for the guidance period. 10
Slide 11: <x 0&3 C
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Slide 12: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended March 31, (in millions) 2025 2024 Net Income $ 249 $ 288 Provision for income taxes 61 49 Depreciation and amortization 265 264 Interest expense, net 154 155 Loss in unconsolidated affiliates 13 3 Stock-based compensation 72 56 (1) Othe
Slide 13: Net Income to Adj. Net Income and Per Share Data Reconciliation
Net Income to Adj. Net Income and Per Share Data Reconciliation Three Months Ended March 31, (in millions, except per share data) 2025 2024 Net Income $ 249 $ 288 Provision for income taxes 61 49 Purchase accounting amortization (1) 125 129 Loss in unconsolidated affiliates 13 3 Stock-based compensa
Slide 14: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended Three Months Ended (in millions) March 31, 2025 March 31, 2024 Net Cash provided by Operating Activities $ 568 $ 522 Acquisition of property, equipment and software (142) (145) Free Cash Flow $ 426 $ 377 14
Slide 15: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of March 31, 2025 $ 14,330 Net Debt as of March 31, 2025 $ 12,590 Adjusted EBITDA for the twelve months ended March 31, 2025 $ 3,705 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 3.87x Net Lever