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 looking statements are not guarantees of future performance. Forward-looking statements are only as of the date they are made and we do not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise. More information about the risks and uncertainties relating to these forward-looking statements may be found in SEC reports filed by the company.
This presentation includes selected non-GAAP financial measures. For a presentation of the most directly comparable GAAP financial measures, please refer to the press release statement headed Condensed Consolidated Statements of Operations (US GAAP) (Unaudited). While non-GAAP financial measures are not superior to or a substitute for the comparable GAAP measures, we believe certain non-GAAP information is more useful to investors for historical comparison purposes.
Backlog Metrics
+11.0%
9.1
8.6
8.7
8.4
8.2
8.8%
8.7%
8.7%
8.3%
$bn
7.1%
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Closing Backlog
Burn rate
Revenue
695 710 725 715
620
$m
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Client Concentration
Percentage of Revenue
Q2 2019
24.0%
12.6%
20.0%
12.9%
Largest Customer
Q1 2020
11.4%
28.5%
12.3%
17.4%
Top 2-5 Customers
Top 6-10 Customers
Q2 2020
12.1%
28.9%
13.9%
16.4%
Top 11-25 Customers
0%
20%
40%
60%
80%
Gross Margin
Percentage of Revenue
695 710 725 715
620
29.4%
29.7%
29.9%
29.3%
28.1%
$m
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Revenue
Gross Margin %
SG&A
Percentage of Revenue
695 710 725 715
620
$m
12.0% 12.0% 11.9% 12.2% 13.5%
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Revenue
SG&A %
Operating Margin
Percentage of Revenue
695 710 725 715
620
$m
15.3%
15.5%
15.9%
14.9%
12.1%
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020*
Revenue
Operating Margin %
* Excludes impact of non-recurring charges
Earnings per Share attributable to the Group
174
183
169
170
120
¢
Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020*
* Excludes impact of non-recurring charges
Balance Sheet and Cash Flow
Q2 2020
Q1 2020
Q2 2019
30-Jun-20
31-Mar-20
30-Jun-19
DSO*
53
55
61
Capital Expenditure
$9.9m
$11.3m
$11.2m
Cash from Operating Activities
$117.9m
$142.8m
$22.7m
Net Cash Balance
$244.0m
$134.4m
$81.8m
Gross Cash Balance
$593.8m
$484.1m
$431.3m
* Calculated on a comparative non-GAAP basis
Q2 Year-on-Year Comparison Summary
Q2 2020*
Q2 2019
Revenue^
$620m
$695m
Gross Margin
28.1%
29.4%
SG&A (percentage of revenue)
13.5%
12.0%
Operating Margin
12.1%
15.3%
Net Income attributable to Group (percentage of revenue)
ICON plc published this content on 22 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2020 20:55:02 UTC
ICON Public Limited Company is a healthcare intelligence and clinical research organization. The Company is engaged in providing outsourced services to pharmaceutical, biotechnology, medical device and government and public health organizations. It offers a range of specialized services to assist pharmaceutical, biotechnology and medical device companies to bring new drugs and devices to market faster. The Company's services include clinical research services, commercial positioning, consulting, early phase, strategic solutions, laboratories, language services, medical imaging, real world intelligence, site and patient solutions, COVID-19 clinical operation and decentralized and hybrid clinical solutions. It also provides its full range of clinical, consulting and commercial services across several sectors, which include biosimilars, biotechnology, government and public health solutions, medical devices and pharmaceuticals.