Business GrowthSigns of life in larger pharma. Alongside another CRO, FTRE won a new full service strategic relationship with a top-10 pharma, beating out four other competitors.
Financial PerformanceFTRE reduced leverage to 4.9x TTM debt/adjusted EBITDA following the repayment of $504mm on its term loans in Q2:24, compared to ~6.6x in Q1:24, a key highlight in the quarter.
Revenue GrowthManagement targets a 1.20x average book-to-bill across 2H24 and expects to realize the full benefit of its cost action initiatives in 4Q24.