ICON Public Limited Company (NASDAQ:ICLR) Q3 2023 Earnings Call Transcript

I think, again, I’ll say it again, some of the reports we’ve seen in terms of the dollars associated with that barter contract were significantly inflated. And I’ll just put it that way. We’re not going to talk about the individual award or the book to bill with or without it, but they were significantly inflated. It was an important award. It wasn’t the largest award that we had in the quarter. It’s an important award. There are several others of them in the quarter. The direct fee book to bill was similar. In fact, I think it was a little bit ahead of the 606. So it was an award that that certainly compensated as well on the direct fee line as well. And so we feel good about where we are with that. We feel there are other opportunities. And as I said this COVID stuff is not a one off.

We don’t feel this is a one and done. We feel we’ve got opportunities in ongoing quarters to win these sorts of projects. And we expect to be successful as we have been in quarter three.

Ann Hynes: Okay, great. Thanks. Very helpful.

Operator: Thank you. There are no further questions. So, I would like to hand back to for closing remarks.

Steven Cutler: Thanks, Operator. Thank you all for joining us today and for your interest in ICON. We remain encouraged by the positive underlying fundamentals in the CRO market and we are confident in not only our strong positioning as a strategic embedded partner to new and existing customers, but our ability to navigate the current dynamic environment as well. We look forward to updating you on further progress as we close out 2023. Thanks all and have a good day.