Slide 1: ICON Q3 2023 Results
ICON Q3 2023 Results Period Ended September 30, 2023 Dr. Steve Cutler, CEO Brendan Brennan, CFO Kate Haven, VP Investor Relations
Slide 2: Forward Looking Statement
Forward Looking Statement Statements included in this presentation which are not historical facts are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 (the “PSLRA”). Forward-lookin
Slide 3: The world's leading CRO, powered by healthcare intelligence
The world’s leading CRO, powered by healthcare intelligence New ICONleading ICON’s has theservice scale, technology and dataus offering positions analytics well for to become further the healthcare penetration intelligence across the market partner of choice through differentiated solutions and perf
Slide 4: Backlog Metrics
Backlog Metrics +10.0% Growth 21.7 22.2 20.7 21.2 20.2 $bn 9.7% 9.7% 9.6% 9.5% 9.5% Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Closing Backlog Burn rate 3
Slide 5: Revenue
Revenue +5.8% Growth 2,020 2,055 1,942 1,962 1,979 $m Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 4
Slide 6: Customer Concentration & Diversification
Customer Concentration & Diversification Percentage of Total Revenue Q3 2023 8.5% 17.1% 14.7% 21.8% 37.9% Average revenue per customer (Q3 2023): Top 2-5: c4% on average Q2 2023 8.6% 17.6% 14.1% 20.8% 38.9% Top 6-10: c3% on average Q3 2022 8.6% 19.2% 13.9% 20.9% 37.4% Top 11-25: c1.5% on average Lar
Slide 7: Adjusted EBITDA Margin
Adjusted EBITDA Margin 2,020 2,055 1,942 1,962 1,979 20.6% 20.5% 21.0% 19.5% 20.2% $m Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Revenue EBITDA Margin % Notes: All values exclude amortization, stock compensation, restructuring, FX and transaction-related / integration-related costs Adjusted EBITDA Marg
Slide 8: Adjusted Earnings per Share attributable to the Group
Adjusted Earnings per Share attributable to the Group +10.0% Growth 330 300 313 311 290 ¢ Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Notes: All values exclude amortization, stock compensation, restructuring, FX and transaction-related / integration-related costs Adjusted earnings per share is a non-GAA
Slide 9: Balance Sheet and Cash Flow
Balance Sheet and Cash Flow Q3 2023 Q2 2023 Q3 2022 $m (unless otherwise stated) 30-Sep-23 30-Jun-23 30-Sep-22 Cash and Cash Equivalents + Available for Sale Investments 315.0 271.8 610.9 Total Debt (4,041.7) (4,312.1) (4,850.0) Net (Debt) / Cash (3,726.7) (4,040.3) (4,239.1) Net Debt / TTM Adj EBIT
Slide 10: 2023 Financial Guidance & Outlook
2023 Financial Guidance & Outlook % increase FY2022 FY2023 Guidance (FY2023 Guidance vs. FY2022 Actuals) Revenue $7,741.4m $8,070m - $8,210m 4.3% - 6.1% Adjusted EPS* $11.75 $12.63 - $12.91 7.5% - 9.9% Key Assumptions for FY2023 Guidance – Effective tax rate of 15.5% – Free Cash Flow target of c.$1.
Slide 11: Appendices
Appendices 10
Slide 12: Reconciliation of Non-GAAP Measures (EBITDA)
Reconciliation of Non-GAAP Measures (EBITDA) 2022 2023 $m except share and per share data Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Q2 2023 Q3 2023 Adjusted EBITDA Net income/(loss) attributable to the Group 112.0 115.7 160.2 117.4 505.3 116.7 115.6 163.7 Share of equity method investments 0.8
Slide 13: Reconciliation of Non-GAAP Measures (Net Income & EPS)
Reconciliation of Non-GAAP Measures (Net Income & EPS) 2022 2023 $m except share and per share data Q1 2022 Q2 2022 Q3 2022 Q4 2022 FY 2022 Q1 2023 Q2 2023 Q3 2023 Adjusted net income attributable to the Group and adjusted diluted net income per Ordinary Share attributable to the Group Net income at
Slide 14: Q3 2023 Adjusted Net Income Reconciliation
Q3 2023 Adjusted Net Income Reconciliation Q3 2022 Q3 2023 $m except share and per share data GAAP Adjustments Non-GAAP GAAP Adjustments Non-GAAP Revenue 1,942.4 - 1,942.4 2,055.1 - 2,055.1 Costs and expenses: Direct costs (excluding depreciation and amotization) (a) 1,375.8 (5.9) 1,369.9 1,449.1 (6
Slide 15: Reconciliation of Non-GAAP Measures Notes
Reconciliation of Non-GAAP Measures Notes a) Stock-based compensation expense represents the amount of recurring non-cash expense related to the Company’s equity compensation programs (inclusive of employer related taxes). b) Foreign currency losses (gains), net relates to gains or losses that arise
Slide 16: ICONplc.com
ICONplc.com © 2023 ICON. All rights reserved.