IQV Reported this cycle

IQVIA

Durham, NC Life Science Tools & CRO

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Latest analysis

Updated Jul 28, 2026

IQVIA Q2 2026: Organic growth accelerates to 6%, bookings hit highest since 2022, full-year guidance raised across all metrics

IQVIA delivered its cleanest quarter in years — Q2 2026 revenue of $4.368 billion grew 8.7% reported and 8.5% at constant currency, with organic growth accelerating to 6% year-over-year, triple the rate of Q2 2025. R&DS net new bookings of $3.15 billion grew 19% year-over-year and 27% sequentially, driving a 1.22 book-to-bill against a near-9% revenue growth backdrop — a combination that signals genuine demand recovery rather than a bookings-mix artifact. Management raised full-year 2026 revenue guidance to $17.275–$17.475 billion and flagged that EBP funding at $35 billion in Q2 — more than double Q2 2025 — is already translating into contracted awards, with AI differentiation cited as the decisive factor in displacing incumbent CRO competitors.

Tone: bullish

Revenue

$16.3B

IQV 10-K · FY 2025

Employees

93,000

Revenue growth YoY

+5.9%

EBITDA margin

23.2%

Profile

IQV 10-K Item 1 · Feb 17, 2026

IQVIA is a leading global provider of clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries. The company operates through three segments — Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions — serving over 10,000 clients in more than 100 countries. Its competitive differentiation rests on one of the largest proprietary healthcare datasets in the world, spanning more than 1.2 billion unique non-identified patient records and approximately 68 petabytes of unique proprietary data.

Read filing description ↓

IQVIA is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. IQVIA's portfolio of solutions are powered by IQVIA Connected Intelligence™ to deliver actionable insights and services built on high-quality health data, Healthcare-grade AI®, advanced analytics, the latest technologies and extensive domain expertise. We are committed to using artificial intelligence ('AI') responsibly, with AI-powered capabilities built on best-in-class approaches to privacy, regulatory compliance and patient safety, and delivering AI to the high standards of trust, scalability and precision demanded by the industry. With approximately 93,000 employees in over 100 countries, including experts in healthcare, life sciences, data science, technology and operational excellence, we are dedicated to accelerating the development and commercialization of innovative medical treatments to help improve patient outcomes and population health worldwide. We have one of the largest and most comprehensive collections of healthcare information in the world spanning sales, prescription, promotional and social media data, as well as medical claims, electronic medical records, and genomics data, including more than 1.2 billion comprehensive, longitudinal, unique non-identified patient records. Our scaled and growing information set contains approximately 68 petabytes of unique proprietary data sourced from approximately 150,000 data suppliers and covering over one million data feeds globally. Based on this data, we deliver information and insights on approximately 90% of the world's pharmaceuticals, as measured by 2024 sales. We combine our proprietary information assets with advanced analytics, transformative technology and domain expertise to develop clinical and commercial capabilities that enable us to grow our relationships with healthcare stakeholders throughout the life science's value chain.

Primary products

IQVIA Connected Intelligence
Healthcare-grade AI
Real World Solutions
Global Market Insight (MIDAS, Analytics Link, Disease Insights)
IQVIA Health Data Catalog
SaaS platforms for clinical and commercial operations

Business segments

Technology & Analytics Solutions Research & Development Solutions Contract Sales & Medical Solutions

End markets

Pharmaceutical companies Biotechnology companies Medical device and diagnostic companies Consumer health companies Payers Government and regulatory agencies Providers Pharmaceutical distributors Pharmacies

Geographies

Over 100 countries

Named customers

Top 20 large pharma companies (approx. 50% of R&DS revenue) Midsize pharma — next 60 by Rx sales (approx. 15% of R&DS revenue) Emerging biopharma (EBP) (approx. 35% of R&DS revenue) 19 of top 20 pharma companies (AI solutions deployed)

No single client accounted for 10% or more of our total Company revenues in 2025, 2024 or 2023. For the year ended December 31, 2025 the largest client based on its percentage of total Company revenues contributed approximately 5%.

Named competitors

Accenture Aetion (a Datavant company) Panalgo (a Norstella company) Cognizant Technology Solutions Deloitte Pharmaceutical Product Development, Inc. (part of Thermo Fisher Scientific Inc.) Relx IBM

“While we believe no competitor provides the combination of geographical reach and breadth of our services, we generally compete in the countries in which we operate with other information, analytics, technology, services and consulting companies, as well as with the in-house capabilities of our clients.” Competitive position, as stated in the filing

Revenue commentary · FY 2025

Revenues increased $905 million, or 5.9%, in 2025 versus 2024, comprising approximately $737 million of constant currency growth, with contributions from all three segments.

The rest of IQV is for subscribers

Analysis, signals, diligence answers, M&A activity and every quote, each citing the filing it came from.

SeventhBiz analysis 6 signals 12 diligence answers 1 M&A transactions SWOT

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