Financial Analysis

Business Combinations The Company completed individually and in the aggregate immaterial acquisitions during the six months ended June 30, 2026. The Companys assessment of fair value, including the valuation of certain identified intangibles, and the purchase price allocation related to these acquisitions is preliminary and subject to change upon completion. Further adjustments, largely related to acquired intangible assets and related deferred taxes, may be necessary as additional information related to the fair values of assets acquired and liabilities assumed is assessed during the measurement period (up to one year from the acquisition date). The Company recorded goodwill from these acquisitions, primarily attributable to assembled workforce, expected synergies and new customer relationships. The condensed consolidated financial statements include the results of the acquisitions subsequent to their respective closing dates. Pro forma information is not presented as pro forma results of operations would not be materially different to the actual results of operations of the Company. The following table provides certain preliminary financial information for these acquisitions: (in millions) June 30, 2026 Assets acquired: Cash and cash equivalents $ 14 Accounts receivable 36 Other assets 92 Goodwill 135 Other identifiable intangibles 87 Liabilities assumed: Other liabilities (86) Deferred income taxes, long-term (38) Net assets acquired (1) $ 240 (1) Net assets acquired inclu …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

Contingencies The Company and its subsidiaries are involved in legal and tax proceedings, claims and litigation arising in the ordinary course of business. Management periodically assesses the Companys liabilities and contingencies in connection with these matters based upon the latest information available. For those matters where management currently believes it is probable that the Company will incur a loss and that the probable loss or range of loss can be reasonably estimated, the Company has recorded an accrual in the consolidated financial statements based on its best estimates of such loss. In other instances, because of the uncertainties related to either the probable outcome or the amount or range of loss, management is unable to make a reasonable estimate of a liability, if any. However, even in many instances where the Company has recorded an estimated liability, the Company is unable to predict with certainty the final outcome of the matter or whether resolution of the matter will materially affect the Companys results of operations, financial position or cash flows. As additional information becomes available, the Company adjusts its assessments and estimates of such liabilities accordingly. The Company routinely enters into agreements with third parties, including its clients and suppliers, all in the normal course of business. In these agreements, the Company sometimes agrees to indemnify and hold harmless the other party for any damages such other party may s …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Credit Arrangements The following is a summary of the Companys revolving credit facilities as of June 30, 2026: Facility Interest Rates $2,000 million (revolving credit facility) U.S. Dollar Term SOFR plus a margin of 1.25% as of June 30, 2026 $110 million (receivables financing facility) U.S. Dollar Term SOFR plus a margin of 1.00% plus a 10 basis credit spread adjustment as of June 30, 2026 The following table summarizes the Companys debt at the dates indicated: (dollars in millions) June 30, 2026 December 31, 2025 Revolving Credit Facility due 2030: U.S. Dollar denominated borrowingsU.S. Dollar Term SOFR at average floating rates of 4.89% $ 800 $ 800 Senior Secured Credit Facilities: Term A Loan due 2030Euribor at floating rates of 3.54% 275 290 Term A Loan due 2030U.S. Dollar Term SOFR at floating rates of 4.98% 2,108 2,162 Term B Loan due 2031U.S. Dollar Term SOFR at floating rates of 5.48% 1,955 1,965 5.700% Senior Secured Notes due 2028U.S. Dollar denominated 750 750 6.250% Senior Secured Notes due 2029U.S. Dollar denominated 1,250 1,250 5.0% Senior Notes due 2027U.S. Dollar denominated 1,100 1,100 5.0% Senior Notes due 2026U.S. Dollar denominated 1,050 1,050 6.500% Senior Notes due 2030U.S. Dollar denominated 500 500 6.250% Senior Notes due 2032U.S. Dollar denominated 2,000 2,000 2.25% Senior Notes due 2028Euro denominated 821 845 2.875% Senior Notes due 2028Euro denominated 811 835 1.750% Senior Notes due 2026Euro denominated 646 2.250% Senior Notes due 2029Euro deno …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following tables represent revenues by geographic region and reportable segment for the three and six months ended June 30, 2026 and 2025. Results for the three and six months ended June 30, 2025 reflect the recast of segment information based on the changes described in Note 14. Three Months Ended June 30, 2026 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 895 $ 1,144 $ 2,039 Europe and Africa 687 722 1,409 Asia-Pacific 211 709 920 Total revenues $ 1,793 $ 2,575 $ 4,368 Three Months Ended June 30, 2025 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 825 $ 1,110 $ 1,935 Europe and Africa 640 601 1,241 Asia-Pacific 186 655 841 Total revenues $ 1,651 $ 2,366 $ 4,017 Six Months Ended June 30, 2026 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 1,751 $ 2,272 $ 4,023 Europe and Africa 1,375 1,389 2,764 Asia-Pacific 421 1,311 1,732 Total revenues $ 3,547 $ 4,972 $ 8,519 Six Months Ended June 30, 2025 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 1,615 $ 2,127 $ 3,742 Europe and Africa 1,233 1,232 2,465 Asia-Pacific 375 1,264 1,639 Total revenues $ 3,223 $ 4,623 $ 7,846

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Fair Value Measurements The Company records certain assets and liabilities at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy that prioritizes the inputs used to measure fair value is described below. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 Unobservable inputs that are supported by little or no market activity. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The carrying values of cash, cash equivalents, accounts receivable and accounts payable approximated their fair values as of June 30, 2026 and December 31, 2025 due to their short-term nature. As of June 30, 2026 and December 31, …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Income Taxes The Company's effective income tax rate was 19.9% and 17.3% in the second quarter of 2026 and 2025, respectively. The Company's effective income tax rate was 18.9% and 18.1% in the first six months of 2026 and 2025, respectively. The effective income tax rate in the second quarter and in the first six months of 2026 and 2025 was impacted due to changes in the geographical mix of earnings amongst the United States and foreign tax jurisdictions. On December 12, 2022, the European Union member states agreed to implement the Organization for Economic Cooperation and Developments (OECD) Pillar Two global corporate minimum tax rate of 15% on companies with revenues of at least 750 million, which went into effect in 2025. In January 2026, the OECD released Administrative Guidance establishing a side-by-side system that is intended to reduce the compliance burden of calculating the Pillar Two top-up-tax amounts for jurisdictions with similar regimes with minimum tax requirements for fiscal years beginning on or after January 1, 2026, subject to adoption by relevant jurisdictions. This is achieved by deeming a top-up tax amount of zero as it relates to Income Inclusion Rules and Undertaxed Profits Rules for Multinational Enterprise groups with an ultimate parent entity in such jurisdictions; however, this guidance does not affect the application of local minimum or qualified domestic top-up taxes in foreign jurisdictions. During the six months ended June 30, 2026, the Com …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Standards

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Restructuring The Company has continued to take restructuring actions in 2026 to align its resources and reduce overcapacity to adapt to changing market conditions and integrate acquisitions. These actions include consolidating functional activities, eliminating redundant positions, and aligning resources with customer requirements. These restructuring actions are expected to continue throughout 2026 and into 2027. The following amounts were recorded for the restructuring plans: (in millions) Severance and Related Costs Balance as of December 31, 2025 $ 31 Expense, net of reversals 114 Payments (77) Foreign currency translation and other (1) Balance as of June 30, 2026 $ 67 The reversals were due to changes in estimates primarily resulting from the redeployment of staff and higher than expected voluntary terminations. Restructuring costs are not allocated to the Companys reportable segments as they are not part of the segment performance measures regularly reviewed by management. The Company expects that the majority of the restructuring accruals as of June 30, 2026 will be paid in 2026 and 2027. …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenues by Geography, Concentration of Credit Risk and Remaining Performance Obligations The following tables represent revenues by geographic region and reportable segment for the three and six months ended June 30, 2026 and 2025. Results for the three and six months ended June 30, 2025 reflect the recast of segment information based on the changes described in Note 14. Three Months Ended June 30, 2026 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 895 $ 1,144 $ 2,039 Europe and Africa 687 722 1,409 Asia-Pacific 211 709 920 Total revenues $ 1,793 $ 2,575 $ 4,368 Three Months Ended June 30, 2025 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 825 $ 1,110 $ 1,935 Europe and Africa 640 601 1,241 Asia-Pacific 186 655 841 Total revenues $ 1,651 $ 2,366 $ 4,017 Six Months Ended June 30, 2026 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 1,751 $ 2,272 $ 4,023 Europe and Africa 1,375 1,389 2,764 Asia-Pacific 421 1,311 1,732 Total revenues $ 3,547 $ 4,972 $ 8,519 Six Months Ended June 30, 2025 (in millions) Commercial Solutions Research & Development Solutions Total Revenues: Americas $ 1,615 $ 2,127 $ 3,742 Europe and Africa 1,233 1,232 2,465 Asia-Pacific 375 1,264 1,639 Total revenues $ 3,223 $ 4,623 $ 7,846 No individual customer represented 10% or more of consolidated revenues for the three and six months ended June 30, 2 …

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"Segments The following table presents the Companys operations by reportable segment. The Company was previously managed through three reportable segments, Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Effective January 1, 2026, the Company updated its segment reporting to align with industry evolution, its updated operating model, and how internal reporting is provided to the chief operating decision maker (""CODM""). As a result, the Contract Sales & Medical Solutions segment, which had become more closely related operationally to the Technology & Analytics Solutions segment commercial offerings, was incorporated into the Technology & Analytics Solutions segment, which is renamed Commercial Solutions. Additionally, Real-World Late Phase and certain other Real-World offerings that had become more closely related operationally to the clinical research business, were moved from the Technology & Analytics Solutions segment to the Research & Development Solutions segment. The Company is reflecting the recast of segment information for the three and six months ended June 30, 2025 on this basis in the table below. The Company is now managed through two reportable segments, Commercial Solutions and Research & Development Solutions. Commercial Solutions provides mission critical information, advanced analytics, technology solutions, health care provider services (including contract sales …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Policies The Company IQVIA Holdings Inc. (together with its subsidiaries, the Company or IQVIA) is a leading global provider of clinical research services, commercial insights and healthcare intelligence to the life sciences and healthcare industries. With approximately 94,000 employees, the Company conducts business in more than 100 countries. Unaudited Interim Financial Information The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (GAAP) for interim financial information. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the Companys financial condition and results of operations have been included. Operating results for the periods presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2026. As such, the information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Companys audited consolidated financial statements included in the Companys Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The balance sheet as of December 31, 2025 has been derived from the audited consolidated financial …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Stockholders Equity Preferred Stock The Company is authorized to issue 1.0 million shares of preferred stock, $0.01 per share par value. No shares of preferred stock were issued or outstanding as of June 30, 2026 or December 31, 2025. Equity Repurchase Program On May 7, 2026, the Company's Board of Directors increased the stock repurchase authorization under the Company's equity repurchase program (the ""Repurchase Program"") with respect to the repurchase of the Company's common stock by an additional $2,000 million, which increased the total amount that has been authorized under the Repurchase Program to $15,725 million. The Repurchase Program does not obligate the Company to repurchase any particular amount of common stock, and it may be modified, extended, suspended or discontinued at any time. During the six months ended June 30, 2026, the Company repurchased 5.5 million shares of its common stock for $950 million under the Repurchase Program. As of June 30, 2026, the Company had remaining authorization to repurchase up to $2,819 million of its common stock under the Repurchase Program. In addition, from time to time, the Company has repurchased and may continue to repurchase common stock through private or other transactions outside of the Repurchase Program."

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