Adjusted EBITDA increased 2.6% in Q2, with adjusted diluted EPS rising 6.4% to $2.81 year-over-year.
Backlog reached a record $32.1 billion, up 5.1% year-over-year, with next 12 months revenue from backlog at $8.1 billion, up 4.8%.
Contract Sales & Medical Solutions revenue increased 9.3% reported and 6.4% constant currency.
IQVIA reported second quarter 2025 revenue exceeding $4 billion for the first time, growing 5.3% year-over-year on a reported basis and 6.3% excluding COVID-related work.
Issued $2 billion senior notes maturing in 2032.
Net leverage ratio was 3.61x trailing 12-month adjusted EBITDA; free cash flow was $292 million in Q2 after $151 million capex.
R&D Solutions (R&DS) revenue grew 2.5% reported and 1.3% constant currency, with 4.2% growth excluding COVID-related revenues.
Share repurchases totaled over $1 billion in the first half, with $607 million repurchased in Q2 alone.
Technology & Analytics Solutions (TAS) revenue grew 8.9% reported and 6.8% constant currency, driven by double-digit growth in real-world evidence.
Dafinchi