RESEARCH TRIANGLE PARK, N.C. — May 5, 2026 — Leads & Copy — IQVIA Holdings Inc. (NYSE:IQV) reported its financial results for the quarter ended March 31, 2026, showcasing a strong start to the year.
The company’s revenue for the first quarter reached $4,151 million, marking an 8.4% increase on a reported basis and a 6.0% increase at constant currency compared to the first quarter of 2025. Commercial Solutions revenue totaled $1,754 million, up 11.6% on a reported basis and 8.5% at constant currency. Research & Development Solutions (R&DS) revenue amounted to $2,397 million, reflecting a 6.2% increase on a reported basis and a 4.2% increase at constant currency. Excluding reimbursed expenses, R&DS revenue grew by 6.6% on a reported basis.
As of March 31, 2026, the R&DS contracted backlog stood at $34.2 billion. The company anticipates approximately $8.9 billion of this backlog to be converted into revenue in the next twelve months, representing a 7.6% year-over-year growth. First quarter net new bookings were $2.5 billion, resulting in a book-to-bill ratio of 1.04x and a trailing-twelve-month book-to-bill ratio of 1.11x.
First-quarter GAAP Net Income was $274 million, with GAAP Diluted Earnings per Share at $1.61. Adjusted EBITDA reached $932 million, a 5.5% increase year-over-year. Adjusted Net Income was $492 million, and Adjusted Diluted Earnings per Share was $2.90, up 7.4% year-over-year.
As of March 31, 2026, IQVIA’s cash and cash equivalents were $1,947 million, with debt at $15,833 million, resulting in net debt of $13,886 million. The company’s Net Leverage Ratio was 3.62x trailing twelve-month Adjusted EBITDA. Operating Cash Flow for the first quarter was $618 million, a 9% increase year-over-year, while Free Cash Flow was $491 million, up 15% year-over-year.
During the first quarter of 2026, IQVIA repurchased $552 million of its common stock, with $1,217 million of share repurchase authorization remaining as of March 31, 2026.
IQVIA is reaffirming its full-year 2026 guidance for revenue to be between $17,150 million and $17,350 million, and for Adjusted EBITDA to be between $3,975 million and $4,025 million. The company is raising its full-year 2026 guidance for Adjusted Diluted Earnings per Share to be between $12.65 and $12.95.
Effective January 1, 2026, IQVIA implemented a new organizational model to strengthen collaboration and enhance efficiency. The company now reports results within two segments: Commercial Solutions and Research & Development Solutions. Prior period segment amounts have been recast to conform to this reporting structure.
According to Ari Bousbib, chairman and CEO of IQVIA, the company delivered an outstanding start to the year, with organic revenue growth accelerating more than anticipated, Adjusted Diluted EPS exceeding expectations, and Free Cash Flow at 100% of Adjusted Net Income. Bousbib noted the strength in patient solutions, analytics & consulting, and commercial engagement services within Commercial Solutions, as well as the solid growth in net service fee bookings within R&D Solutions.
IQVIA will host a conference call at 9:00 a.m. Eastern Time today to discuss its first-quarter 2026 results and its second-quarter and full-year 2026 guidance. Interested parties can join the webcast via the IQVIA Investor Relations website or participate in the conference call by registering in advance.
IQVIA (NYSE:IQV) is a global provider of clinical research services, commercial insights, and healthcare intelligence to the life sciences and healthcare industries. The company’s solutions are powered by IQVIA Connected Intelligence™ and are built on high-quality health data, Healthcare-grade AI®, advanced analytics, the latest technologies, and domain expertise. The company has approximately 93,000 employees in over 100 countries.
Source: IQVIA
