ICON plc reported its second-quarter 2025 financial results, highlighting significant achievements and updates. The company recorded gross business wins of $2,966 million in the second quarter, marking a 10.6% increase from the first quarter of 2025. Net business wins totaled $2,057 million, resulting in a book-to-bill ratio of 1.02. Revenue for the second quarter was $2,017.4 million, reflecting a 0.8% increase from the first quarter of 2025, but a 4.8% decrease compared to the second quarter of 2024. In terms of net income, ICON reported $183.0 million for the second quarter, with earnings per diluted share rising 30.7% from the same period in 2024 to $2.30. The company's adjusted EBITDA for the second quarter was $396.0 million, accounting for 19.6% of revenue and representing a 1.4% increase from the previous quarter. Adjusted net income was reported at $259.5 million, or $3.26 per diluted ordinary share. ICON also updated its financial guidance for the full year, now anticipating revenue to range between $7,850 million and $8,150 million, indicating an approximate 1% increase at the midpoint from prior guidance. Adjusted diluted earnings per share are expected to be between $13.00 and $14.00, reflecting higher pass-through revenue expectations and strong cost management efforts.
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