XML 54 R40.htm IDEA: XBRL DOCUMENT v3.25.0.1
ENTITY WIDE DISCLOSURES (Tables)
12 Months Ended
Dec. 31, 2024
Entity Wide Disclosures [Abstract]  
Summary of Property and Equipment, Net by Geographic Region
The following table summarizes property and equipment, net by geographic region and is further broken down to show countries which account for 10% or more of total as of December 31, if any (in thousands):
20242023
Property and equipment, net:
United States$80,692 $77,850 
Europe
Belgium18,557 18,190 
Other7,456 8,772 
Total Europe26,013 26,962 
Asia-Pacific14,552 14,472 
Other2,358 1,305 
Total property and equipment, net$123,615 $120,589 
Summary of Revenue by Major Source
The following table disaggregates the Company’s revenue by major source (in thousands):
Year Ended December 31,
202420232022
Therapeutic Area
Oncology$651,237 $587,097 $467,796 
Metabolic457,542 376,842 244,682 
Other431,384 404,844 296,914 
Cardiology230,454 193,690 174,634 
Central Nervous System181,977 160,057 157,939 
AVAI156,460 163,312 118,031 
Total revenue$2,109,054 $1,885,842 $1,459,996 
Schedule of Segment Reporting Information, by Segment
Information about the reportable segment, significant segment expenses and a reconciliation to consolidated net income is as follows (in thousands):
Year Ended December 31,
202420232022
Revenue, net$2,109,054 $1,885,842 $1,459,996 
Operating expenses:
Direct service costs, excluding depreciation and amortization - Employee compensation545,417 499,528 410,511 
Direct service costs, excluding depreciation and amortization - Other segment items (a)136,678 138,721 124,376 
Reimbursed out-of-pocket expenses770,654 723,088 492,671 
Total direct costs1,452,749 1,361,337 1,027,558 
Selling, general and administrative180,184 161,352 131,400 
Depreciation27,808 24,129 18,989 
Amortization1,443 2,199 3,352 
Total operating expenses1,662,184 1,549,017 1,181,299 
Income from operations446,870 336,825 278,697 
Other income (expense), net:
Miscellaneous income (expense), net4,056 (655)7,068 
Interest income (expense), net24,996 (488)(2,905)
Total other income (expense), net29,052 (1,143)4,163 
Income before income taxes475,922 335,682 282,860 
Income tax provision71,536 52,872 37,492 
Segment net income$404,386 $282,810 $245,368 
Reconciliation of profit or loss
Adjustments and reconciling items— — — 
Consolidated net income$404,386 $282,810 $245,368 
(a) Direct service costs, excluding depreciation and amortization - Other segment items includes costs related to inventory, leases, project subcontractors and other direct service costs.