Q1 2026 ICON PLC Earnings Call Transcript
Key Points
- Icon PLC (ICLR) reported strong gross bookings of $3.3 billion in Q1, up 22% year over year.
- Net business wins increased by 42% year over year, with a net book-to-bill ratio of 1.42 times.
- The company saw significant progress in diversifying sales channels, particularly in large pharma and biotech.
- Icon PLC (ICLR) maintained strong win rates in both large pharma and biotech full service sectors.
- The company is expanding its central laboratory facility in Singapore and enhancing its oncology research capabilities in the US.
- Revenue was up only 1% year-over-year on a reported basis, but down 1.9% on a constant currency basis.
- Adjusted gross margin decreased to 24.4% from 28.4% in Q1 2025.
- Adjusted EBITDA margin was 15.6%, down from 19.8% in Q1 2025.
- The company anticipates potential higher cancellation rates in future quarters.
- Pass-through revenues, which are inherently volatile, decreased by about $100 million from Q4 to Q1.
Good day and thank you for standing by. Welcome to the ICON plc Q1 2026 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your first speaker today, Kate Haven, VP of Investor Relations. Please go ahead.
Hello and thank you for joining us today. I'm joined on the call by our CEO, Barry Balfe; and our CFO, Nigel Clerkin. I would like to note that this call is webcast and that there are slides available to download on our website to accompany today's call.
Certain statements in today's call will be forward-looking statements. These statements are based on management's current expectations and information currently available, including current economic and industry conditions. Actual results may differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business and listeners are cautioned that forward
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