PRA Health Sciences, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2021 10-Q, filed Apr 29, 2021. Its latest SEC filing is a 424B5 from May 2, 2024.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Provides outsourced clinical trial and drug development services, data and analytics, and technology solutions to biotechnology and pharmaceutical companies.

How Did They Make Money?

FY2020 revenue

Who Were Their Customers?

Biotechnology and pharmaceutical companies buy clinical research, data, analytics, technology and consulting services. Clients include large pharmaceutical companies, smaller pharmaceutical companies and biotechnology companies.

Did Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2020 and turned 11 cents into free cash flow.

Operating income, FY2020

10% of revenue

▼ −10% vs FY2019 ($363.9M, 12%)

Net income, FY2020

6% of revenue

▼ −19% vs FY2019 ($243M, 8%)

Free cash flow, FY2020

11% of revenue

▲ +101% vs FY2019 ($179.3M, 6%)

How Were They Changing?

Since the FY2020 annual report

Latest quarter: Q1 FY2021, the three months to Mar 31, 2021

Revenue: ▲ +19%; vs $783.7M in Q1 FY2020
Net income: ▲ +40%; vs $40.7M in Q1 FY2020

Jul 1, 2021 ICON completed its acquisition of PRA, which became its wholly owned subsidiary. PRA stock was converted into ICON shares and $80.00 in cash per share; PRA's shares were delisted from Nasdaq.

Grew. Revenue grew 76% in 4 years, from $1.8B in FY2016 to $3.2B in FY2020, about 15% a year.

Added data and analytics The latest report describes Data Solutions as a business providing data, analytics, technology and consulting to the life sciences market, alongside clinical research services.

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