Iqvia Holdings, Inc. · NYSE:IQV
Iqvia — Q2 2025 Earnings Presentation
17 slides from Iqvia's earnings presentation, Jul 22, 2025
Slide 1: Q2 2025 Earnings Call
Q2 2025 Earnings Call July 22, 2025 1
Slide 2: Legal: Safe Harbor Statement
Legal This presentation should be viewed in conjunction with IQVIA’s Q2 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: 2nd Quarter Results
2nd Quarter Results $M, except per share data Revenue Adjusted EBITDA(1) Adjusted Diluted EPS(1) 5.3% AFx 3.6% CFx 2.6% AFx 6.4% AFx $4,017 $3,814 $910 $2.81 $887 $2.64 Dollars are at actual foreign exchange rates. AFx is actual currency. CFx is constant currency. (1) See reconciliation of non-GAAP
Slide 5: Data Tools
Data Tools Customizer Data Sources @INvIDIA.
Slide 6: IQVIA Q2 2025 selected press releases
IQVIA Q2 2025 selected press releases April IQVIA named a front-runner in generative AI innovation by global industry research and analysis firm May IQVIA and SCRI Collaborate to Accelerate Global Oncology Trials June IQVIA launches new AI agents for life sciences and healthcare IQVIA Health Researc
Slide 7: 2nd Quarter and Year-to-Date Revenue
2nd Quarter and Year-to-Date Revenue $M Q2 YTD 2025 2024 VPY% VPY% 2025 2024 VPY% VPY% AFx CFx AFx CFx Technology & Analytics $1,628 $1,495 8.9% 6.8% $3,174 $2,948 7.7% 7.2% Solutions Research & Development $2,201 $2,147 2.5% 1.3% $4,303 $4,242 1.4% 1.2% Solutions Contract Sales & Medical $188 $172
Slide 8: 2nd Quarter and Year-to-Date Profit
2nd Quarter and Year-to-Date Profit $M, except per share data Q2 YTD 2025 2024 2025 2024 Adjusted EBITDA (1) $910 $887 $1,793 $1,749 Net Income $266 $363 $515 $651 Diluted Earnings per Share $1.54 $1.97 $2.94 $3.53 Adjusted Net Income (1) $486 $487 $965 $955 Adjusted Diluted Earnings per $2.81 $2.64
Slide 9: R&D Solutions Backlog and Next Twelve Months Revenue
R&D Solutions Backlog and Next Twelve Months Revenue $B Backlog Next Twelve Months Revenue(1) +5.1% $32.1 $8.1 $30.6 $7.8 +4.8% Dollars are at actual foreign exchange rates. (1) Next Twelve Months Revenue reflects management’s forecast of revenue that will be generated from the backlog as of a given
Slide 10: 2nd Quarter Balance Sheet and Cash Flow Items and Metrics
2nd Quarter Balance Sheet and Cash Flow Items and Metrics $M Cash & Cash Equivalents $2,039 Gross Debt $15,490 Net Debt $13,451 Gross Leverage Ratio (1) 4.16x Net Leverage Ratio (1) 3.61x Net Cash Provided by Operating Activities $443 Capital Expenditures $151 Free Cash Flow (2) $292 Dollars are at
Slide 11: Full-Year 2025 Guidance
Full-Year 2025 Guidance $M, except per share data Revenue $16,100 – $16,300 Adj. EBITDA $3,750 – $3,825 Adj. Diluted EPS $11.75 – $12.05 All financial guidance assumes July 21, 2025 foreign exchange rates remain in effect for the guidance period. 11
Slide 12: Q3 2025 Guidance
Q3 2025 Guidance $M, except per share data Revenue $4,025 – $4,100 Adj. EBITDA $935 – $955 Adj. Diluted EPS $2.92 – $3.02 All financial guidance assumes July 21, 2025 foreign exchange rates remain in effect for the guidance period. 12
Slide 13: Appendix
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Slide 14: Net Income to Adjusted EBITDA Reconciliation
Net Income to Adjusted EBITDA Reconciliation Three Months Ended June 30, Six Months Ended June 30, (in millions) 2025 2024 2025 2024 Net Income $ 266 $ 363 $ 515 $ 651 Provision for income taxes 56 75 117 124 Depreciation and amortization 276 269 541 533 Interest expense, net 172 151 326 306 Loss (i
Slide 15: 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 June 30, Six Months Ended June 30, (in millions, except per share data) 2025 2024 2025 2024 Net Income $ 266 $ 363 $ 515 $ 651 Provision for income taxes 56 75 117 124 Purchase accounting amortization (1) 131 133 256
Slide 16: Operating Cash Flow to Free Cash Flow Reconciliation
Operating Cash Flow to Free Cash Flow Reconciliation Three Months Ended June 30, Six Months Ended June 30, (in millions) 2025 2024 2025 2024 Net Cash provided by Operating Activities $ 443 $ 588 $ 1,011 $ 1,110 Acquisition of property, equipment and software (151) (143) (293) (288) Free Cash Flow $
Slide 17: Leverage Ratios
Leverage Ratios (in millions) Gross Debt, net of Unamortized Discount and Debt Issuance Costs, as of June 30, 2025 $ 15,490 Net Debt as of June 30, 2025 $ 13,451 Adjusted EBITDA for the twelve months ended June 30, 2025 $ 3,728 Gross Leverage Ratio (Gross Debt/LTM Adjusted EBITDA) 4.16x Net Leverage