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Syneos Health Announces Third Quarter 2022 Results – Syneos Health – Press Release

  • Revenue for the third quarter of $1,336.2 million decreased 0.9% year over year on a reported basis and increased 2.2% on a constant currency basis.
  • Clinical Solutions net new business add-ons and book-to-bill ratios:
    • Including reimbursable expenses, $182.2 million for the third quarter, down 86.5% year-over-year and a book-to-bill ratio of 0.18x and $2,729.7 million for the most recent twelve months, one year down 48.8% year-on-year and a book-to-bill ratio of 0.67x.
    • Excluding reimbursable expenses, $208.4 million for the third quarter, down 80.0% year-on-year and a book-to-bill ratio of 0.30x and $2,776.1 million for the trailing twelve Months, a year down 23.0% year-on-year and a book-to-bill ratio of 0.98x.
  • Commercial Solutions net new business add-ons and book-to-bill ratios:
    • Including reimbursable expenses, $276.3 million for the third quarter, flat year over year and a book-to-bill ratio of 0.83x, and $1,399.9 million for the trailing twelve months, a growth of YOY 6.1% and a book-to-bill ratio of 1.07x.
    • Excluding reimbursable expenses, $223.0 million for the third quarter, down 12.3% year-on-year and a book-to-bill ratio of 0.80x, and $1,203.5 million for the latter 12-month yoy annual growth of 3.6% and a book-to-bill ratio of 1.07x.
  • Backlog at the end of the year:
    • Including reimbursable expenses, down 13.6% year-over-year at Clinical…

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