IQVIA Reports Fourth-Quarter And Full-Year 2021 Results

• Revenue of $3,636 million for the fourth quarter grew 10.2 percent year-over-year on a reported basis and 11.6 percent at constant currency
• GAAP Net Income of $318 million for the fourth quarter grew 167.2 percent year-over-year
• Adjusted EBITDA of $828 million for the fourth quarter grew 12.7 percent year-over-year
• GAAP Diluted Earnings per Share of $1.63 for the fourth quarter grew 167.2 percent yearover-year
• Adjusted Diluted Earnings per Share of $2.55 for the fourth quarter grew 20.9 percent yearover-year
• Full-year Operating Cash Flow of $2,942 million grew 50.2 percent year-over-year and record
• full-year 2021 Free Cash Flow of $2,302 million grew 71.4 percent year-over-year
• Record R&D Solutions contracted backlog of $24.8 billion grew 10.2 percent year-over-year
• Share repurchase authorization increased by $2.0 billion in February 2022
• Full-year 2022 guidance reaffirmed for revenue including a $70 million revenue headwind
• from foreign exchange
• Full-year 2022 guidance raised for Adjusted EBITDA and Adjusted Diluted EPS

RESEARCH TRIANGLE PARK, N.C. February 15, 2022 – IQVIA Holdings Inc. (“IQVIA”) (NYSE:IQV), a

leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, today reported financial results for the quarter ended December 31, 2021.

Fourth-Quarter 2021 Operating Results

Revenue for the fourth quarter of $3,636 million increased 10.2 percent on a reported basis and 11.6 percent at constant currency, compared to the fourth quarter of 2020. Technology & Analytics Solutions (TAS) revenue of $1,496 million grew 5.0 percent on a reported basis and 6.6 percent at constant currency. Research & Development Solutions (R&DS) revenue of $1,944 million grew by 15.4 percent on a reported basis and by 16.3 percent at constant currency. Excluding the impact of pass throughs, R&DS revenue grew 17.1 percent year-over-year on a reported basis. Contract Sales & Medical Solutions (CSMS) revenue of $196 million grew by 3.7 percent on a reported basis and by 7.4 percent at constant currency.

R&DS contracted backlog, including reimbursed expenses, grew 10.2 percent year-over-year to $24.8 billion as of December 31, 2021. The company expects approximately $7.0 billion of this backlog to convert to revenue in the next twelve months, representing growth of 17.9 percent compared to December 31, 2020. The fourth-quarter as-contracted net book-to-bill ratio was 1.36x excluding reimbursed expenses and 1.24x including reimbursed expenses. For the year ended December 31, 2021, the as-contracted net book-to-bill ratio was 1.35x excluding reimbursed expenses and 1.34x including reimbursed expenses.

"We closed 2021 with an impressive quarter, delivering robust growth across all key financial metrics versus what was a strong fourth quarter of 2020," said Ari Bousbib, chairman and CEO of IQVIA. "We had a record year of net new business in R&DS, strong double-digit revenue growth for the year in both our R&DS and TAS segments, and a record year of free cash flow generation. We are now two-thirds of the way through our Vision 22 plan and are on a path to achieving or exceeding our targets. The outlook for our end markets remains favorable and we expect continued strong demand for our differentiated offerings in 2022. Looking beyond 2022 to the next phase of our growth, we are well positioned to achieve our ambitious 2025 targets."

Fourth-quarter GAAP net income was $318 million, representing an increase of 167.2 percent compared to the fourth quarter of 2020, and GAAP diluted earnings per share was $1.63, representing an increase of 167.2 percent year-over-year. Adjusted Net Income was $496 million, up 20.7 percent year-over-year, and Adjusted Diluted Earnings per Share was $2.55, up 20.9 percent year-over-year. Adjusted EBITDA was $828 million, up 12.7 percent compared to the fourth quarter of 2020.