IQVIA Holdings, Inc.

Ladies and gentlemen, thank you for standing by. At this time, I would like to welcome everyone to the IQVIA 3rd Quarter 2026 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number 1 on your telephone keypad. If you would like to withdraw your question, press star followed by the number one again. As a reminder, this call is being recorded. Thank you. I would now like to turn the call over to Kerri Joseph, Senior Vice President, Investor Relations. Mr. Joseph, please begin your conference.

Thank you all for it. Good morning, everyone. Thank you for joining our third quarter 2026 earnings call. Counsel, Clarissa Willett, Senior Vice President, Financial Planning and Analysis, and Katie Ward, Vice President, Investor Relations. Today, we will be referencing a presentation that will be visible during this call to those of you on our webcast. This presentation will also be available following this call in the events and presentation section of our IQVIA Investor Relations website at ir.iqvia.com. Before we begin, I would like to caution listeners that certain information discussed by management during this conference call will include forward-looking statements. After results could differ materially from those stated or implied by forward-looking statements due to risks and uncertainties associated with the company's business, which are discussed in the company's filing with the Securities and Exchange Commission, including our annual report on Form 10-K and subsequent SEC filings. In addition, We will discuss certain non-GAAP financial measures on this call, which should be considered a supplement to, and not a substitute for, financial measures prepared in accordance with GAAP. A reconciliation of these non-GAAP measures to the comparable GAAP measures is included in the press release and conference call presentation. As previously disclosed, we implemented a new segment reporting structure effective January 1, 2021. In conjunction with this change, prior period amounts have been recast to conform to this reporting structure. I would now like to turn the call over to our Chairman and CEO, Ari Bousbib. Thank you, Kerri, and good morning, everyone.

Thank you for joining us today to discuss our third quarter results. The team delivered great numbers. The market environment has continued to improve, but Our performance improved even more. Our organic growth rates year-over-year accelerated meaningfully, 2x for commercial and nearly 3x for clinical. Our margins expanded and free cash flow was very strong. Our win rates were higher in the quarter, which led to our strongest clinical bookings in four years. Our differentiated AI offerings are increasingly contributing to that momentum with continued adoption of our agentic solutions. In fact, IQVIA has now deployed 415 agents to date. Earlier this month, we brought together more than 400 attendees at TechIQ to share our latest clinical and commercial AI capabilities. Events is our annual customer event focused on technology, which this year took place in Boston and included our technology partners, NVIDIA, Microsoft, AWS, Snowflake, and Viva. Our AI leadership continues to earn industry recognition, including multiple industry awards for AI and technology innovation across life sciences and healthcare. while we continue seeing more adoption of these capabilities across our customer base. Let me spend a couple of minutes on the results for the quarter. Total revenue for the quarter exceeded the high end of our guidance range, representing year-over-year growth of 8% on a reported basis. At constant currency, growth was even stronger at 8.6%. Organic revenue growth was approximately 6% year-over-year, well over two times the rate we delivered a year ago. Third quarter adjusted EBITDA was above the high end of our guidance as well, representing year-over-year growth of 8.7%. Adjusted EBITDA margin, as a result, expanded by 20 basis points the second consecutive quarter with margin expansion this year. Third quarter adjusted diluted EPS also exceeded the high end of our guidance range and increased 11.3% year over year. The beat was driven entirely by the stronger operational performance. Now onto segment performance. On the clinical side, revenue grew 8.7% reported, of which almost 7% was organic year over year, which is nearly three times last year's organic growth rate. We delivered $3.2 billion of net new bookings, our highest in four years, and 15% above last year, with notable strength in full service. And yes, the book to build was 1.2 in the quarter. But more importantly, this is a long cycle business, and I'd like to highlight that our last 12 months net new bookings have now increased for five consecutive quarters, reaching $11.7 billion, which is up 14% year over year. We think this metric is one of the best forward-looking indicators we have in support of long-term growth. Looking ahead, demand indicators are encouraging. The EBP funding environment continues to be very strong. Funding has reached $90 billion year-to-date, up more than 85% year-over-year, and already above the total for all of last year, according to BioWorld. Similarly, clinical trials starts year-to-date are up high single digits. RSP flow continues to grow at a healthy rate, up high single digits as well, compared to last year. Our strong performance, of course, reflects an improving market environment, but we also had good operational execution with win rates that continued to tick up two, three points. In commercial solutions, revenue grew 6.9%, of which 4% was organic, which is double last year's organic growth rate. We had good growth, across our three sub-segments. Information offerings, which helps our clients understand the market. Analytics and consulting offerings, which help our clients plan their go-to-market strategies. And our other commercial solutions that help them engage with patients, healthcare providers, payers, and channels. We've now delivered four consecutive quarters of strong revenue growth in commercial, and our pipelines remain at record levels. Looking forward, the demand outlook remains favorable with new drug launches up more than 40% year-to-date, our own pipeline showing healthy growth, and decision timelines continuing to shorten. Now, I usually give you some cover on the business activity in a quarter, and today I'd like to do that, but focus on examples where AI was a clear differentiator. Let's start with clinical. Our predictive clinical development capabilities utilize AI to help sponsors design better studies, identify risks earlier, and bring new therapies to patients faster. Here are a few examples of how this is playing out in some recent awards. A large pharma client needed to deliver multiple phase three studies in the same autoimmune indication across nearly 50 countries. Here, our AI-enabled country and site modeling solution optimizes patient identification and enrollment, shortening the overall program timeline by nine months. In another example, an EBP selected IQVIA for a Phase III oncology program. Critical to winning this award was our AI-enabled protocol and site optimization tools, which accelerate timelines and reduce operational risk. Finally, IQVIA was selected by an EBP for a Phase III cardiovascular outcomes study. This is exactly where our scale and integrated AI capabilities make a big difference. We are layering AI agents to bring together clinical delivery, laboratory services, and electronic patient assessments under one model to identify issues earlier, reduce handoffs, and proactively mitigate execution risks. Switching to examples in commercial, we continue to evolve the way we partner with clients, successful adoption of our AI offerings in commercial organizations within our clients is deepening client trust in IQVIA. And as that trust grows, clients are increasingly looking to us to bring more of our AI-enabled capabilities to our organizations. For example, a top five pharma client selected IQVIA to build and maintain an agentic platform that provides on-demand insights from complex real-world healthcare data. These will help the plan make faster market access decisions and adjust commercial models nearly real-time as prescribing patterns and patient outcomes evolve. We are also seeing AI help expand our role in patient services. The top 10 pharma companies selected IQVIA to deliver an integrated support program for its rare disease portfolio. Our AI-powered solutions adapt and shape interactions by factoring in patient mood and sentiments. That allows, in turn, the client to automate tasks such as benefits verifications and case management. The program allows patients to gain access to the therapy, start treatment sooner, and better adhere to the treatment over time. Another example, a large pharma client deployed a recently launched IQVIA Explorer solution. Explorer uses agentic AI workflows that integrate disparate data sources to answer complex questions spanning areas such as which cohorts of patients are taking the therapy, how therapies are being utilized in patient treatment, and help measure adherence by patient segments. The client can now execute commercial activities in minutes compared with weeks or months previously. Let me now turn it over to Mike for more detail on our financial performance.