ICON PLC
iconplc.comWhat Do They Do?
Provides clinical trial, consulting and laboratory services to pharmaceutical and biotechnology companies, medical-device makers, and government and public-health organizations.
20-F for FY2025, filed May 27, 2026Our service offering includes clinical development, functional outsourcing and laboratory services. Our clinical development services…View ↗
ICON is a global provider of outsourced development and commercialization services to pharmaceutical, biotechnology, medical device, and…View ↗
We specialize in the strategic development, management and analysis of programs that support all stages of the clinical development…View ↗
How Do They Make Money?
Customers pay under contracts lasting months to several years for clinical trial, consulting, staffing, laboratory and data services. Clinical and consulting work is billed as projects progress; laboratory services are billed by samples or hours, staffing by hours worked, and data reports are typically billed in advance.
20-F for FY2025, filed May 27, 2026The Company earns revenues by providing a number of different services to its customers. These services, which are integral elements of the…View ↗
A clinical trial service is a single performance obligation satisfied over time. It represents the full-service obligation in respect of a…View ↗
Revenue is recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when control of the products or…View ↗
Contracting services revenueView ↗
Our consulting services contracts represent a single performance obligation satisfied over time. The transaction price is determined by…View ↗
The Company provides data reports and analytics to customers based on agreed-upon specifications, including the timing of delivery, which…View ↗
$8.3B
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20-F for FY2025, filed May 27, 2026
$8.3B ↗
Who Are Their Customers?
Clients engage through strategic partnerships, preferred-provider arrangements, full-service delivery or stand-alone services. ICON Ireland enters most customer contracts.
20-F for FY2025, filed May 27, 2026
Do Revenues Turn Into Profits?
Yes. It kept 3 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.
20-F for FY2025, filed May 27, 2026
$442.8MView ↗
20-F for FY2025, filed May 27, 2026
$229.3MView ↗
20-F for FY2025, filed May 27, 2026
$862MView ↗
How Are They Changing?
Growing. Revenue grew 51% in 4 years, from $5.5B in FY2021 to $8.3B in FY2025, about 11% a year.
Who Do They Compete With?
Competes with IQVIA, PAREXEL, Thermo Fisher Scientific, Fortrea, and Syneos Health
20-F for FY2025, filed May 27, 2026The CRO industry is fragmented, consisting of many small, niche service providers, a declining number of medium-sized providers and a…View ↗
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