Science 37 (SNCE) 15 Nov 212021 Q3 Earnings call transcript

Good morning, and welcome to Science 37 Holdings, Inc. Earnings Conference Call for the quarter ended September 30, 2021. [Operator Instructions] As a reminder, this call is being recorded for replay purposes.

I would now like to turn the call over to Caroline Paul, Investor Relations, for a few introductory comments.

Thank you, and thank you all for participating in today's call.

Coman, Officer; David Chief Mike are Officer. Financial me Chief and Executive Zaranek, Joining

XX results press released ended Science today, Earlier financial XXXX. on company's copy available September for A of is the release the website. XX, quarter the

Litigation remind securities like statements call made safe to laws, forward-looking which begin, include management the within harbor this that the the to are we will you provisions Private Before meaning that statements I'd make during of Securities of of federal forward-looking assumptions our involve that These Act from current or by estimates or material uncertainties those upon Reform are based differ implied results these XXXX. statements and to actual and and could forward-looking materially anticipated events statements. various cause risks pursuant

to and XXXX, our be the report of review a discussion on with made quarter Exchange XX, which the risk for for ended you factors, our Securities these filings September Form will We including quarterly today. Commission encourage filed XX-Q

cautioned undue are company to place as to any today, and new these speak we update reliance only obligation information. not forward-looking disclaims statements the which for of You statements, such on

Relations found Investor a reconciliation the SEC our in ongoing filings be of comparable these believe evaluating most our available use and measures useful that are to at planning non-GAAP can on investors.scienceXX.com. including forecasting for and referenced, in earnings measures about certain measures evaluate We of performance. We non-GAAP financial internal those operational the non-GAAP our our measures GAAP the and materials website operations to Information metrics purposes. portion

the David turn to to now Coman. I would over like call

September Welcome We're our XXXX. earnings call everyone, speak you excited morning, as for ending and a XX, about us. to XX's Science first company. Good conference results period today Caroline. to with the public quarterly thanks for Thanks, joining

trial decentralized of deploy and next-generation raised entered into new which support plan our technology $XXX adjacencies on you clinical and to we know, the power to net approximately research. X many in platform, we clinical extend markets October public million the proceeds, As of

as use first company, business, our accomplishments overview few is update the will to of public I Officer, a Financial minutes earnings I an turn quarter. this the to by will next our As our call on period, more wrap financial open followed this call during to provide our Zaranek, an on up Mike I our the questions. during then for over will results Chief call up detail provide and the and then

that clinical in disrupting model large and clinical trial biopharmaceutical supports industry XX a the a that The the years. spending its networks compliant performance has manpower each and management sites approaches site processes and much people, patients and is requires technology, ensure enrolling these in course, And these past it industry. been unchanged largely reliant safety has contracting, of this is very creating site trial for today, to sites are research billion meaning efficacy possible. identification, This, $XXX execution. of research of and research the disparity of we call clinical data. development site on to of centric, Science as training, consistent traditional process spending own physical is Most of what Each XX the each the XX is to for sites. allocated way collecting and

costly a and clinical complex. On traditional establishing infrastructure trial is to the side, site become provider required the typically

that area, sites social population, providers within issue, about research. XX% their Patient X% of ever in at participate to patients a are rates limited people are which about the actual These of of are X% an trials patient recruit XX% catchment delays. existing scientific their not about so dropout approximately end, clinical rate represented only but X/X result, only the of important the approached the In trial. one. geographic is highly and clinical a XX%, a of all experience As only total color creating about by from practices, joining population

we mission operating and XX manage on standardizes. harmonize Science be to And patients XX's system technology the to evidence universal full-stack, clinical platform operating clinical for is regulatory industry aim system of accelerate access which research the by data category-defining generate The end-to-end a anywhere. the providers providing Science workflow, consists to to and submission.

from the consistent interacts recruit experience have enable patients a virtually Mobile Our that created networks connected nurses collect we investigators diverse world. from also comfort patients which coordinators the of types. who manage participate could data Remote a our anywhere from with from to a specialized to we technology who of faster. communities their in include: Telemedicine who all home. Patient can platform patients what fragmented be ensure devices to believe range and own site And experience disjointed patients more the network.

patient system more the operating been to to greater of XX this Utilizing approach, Science patient-centric patients of retention real XXx among representation Xx and achieve color, population. up rates has the the XX% the able faster enrollment, matching representation to up

approximately offerings, have To are the date, of we've XXX,XXX and each clinical decentralized conducted more process. which than underpinned the by We platform. in engaged XX patients currently trials, technology Science XXX we provide X

we're clinical we're a The utilizing the our provider specialized first and the platform sponsor. of trial trial and or sole orchestrating to networks, decentralized DCT. the which entire is In clinical technology case, full this trial,

organization, strategic portion are tandem clinical that patients Metasites the which partners. a trial. offering second and We to with for research platform in conducted trials a sites. clinical are in what our leverage responsible of traditional our we as site act often virtual we call is network of the clinical orchestrate total a technology a many Metasite, Our associated of with which supplement a are

broader Plus. a we solution. of to eConsent, telemedicine and/or offering In as known call this engagement, the electronic support or case, what technology trial, Tech Technology clinical we assessments Remote are is eSource, orchestrating integrations third patient are not we as the outcome Our configuring third-party but part eCOA,

including technology clinical our any virtually Zika and Additionally, flexibility of in be enables and offerings telemedicine indication level between. coordinators networks and remote devices. from disease to Tech everything any patient specialized study This nurses, can investigators, phase mobile our offering, through connected of us to support our Alzheimer's Plus to communities, added with solution, the

Science the is of as attributed of clinical at the innovation. pioneer forefront and decentralized commonly research XX

are a a As up XX,XXX we On scale. today, conducting of trials XX delivering wide that are is decentralized patients. studies on fully we range the result, require Science to pivotal on of And spectrum, trial end a massive types. executing one

other the end fully orchestrating XX is studies. Science of spectrum, precision On also the medicine

processes a case, Foundation we've system mutation. tumor oncology Medicine rare this partnered precision recently the utilized currently operating our study In to in is with being As Science released, Roche XX on with patients very technologies to Science this Upon are the provider to operating run through enlist specific become being rare fit identify who investigator. all system. profile the an initiation, XX and and their

or on-premise the a with impossible this be making So our investigator. a We And Science Science is BYOI remotely XX investigator, the remotely or can provider. patient seen your patient result, could as XX possible. or current call formally bring own be what managed fully by was

continued quarter, most results. positive that completed our Turning through to this recently quarterly I pleased to build momentum. to on team am our report our

net for year-to-date September already year as have goal XXXX. than We of our delivering $XXX bookings, XX, full achieved more million

adjusted which what was growth we revenue of significantly year-over-year EBITDA, improvement Year-over-year projected. margin and of delivered better XXX XXX%. points, than We gross basis

gives great on backlog upcoming in ending to ability healthy million, our a have of XX, more than plan $XXX us confidence quarter our for which December and augurs for We well deliver the XXXX, XXXX.

and make commercially, technologically our We to geographically continue growth. support investments to

XX, largest bring CROs. and sales Asia, use CMIC of force a to commercial our market Pacific our the triple consistent recently to X and system CROs CMIC partnerships our are track rest trials operating that the announced Japan to In in execute providing geographically, Medi. with invest to to to the by further plans particularly Medi on with are opportunity to and while channel, our with We of expand world. and and trials in centralized continue XH in Asia regard, the XH to year-end we've capabilities partnership plan Science

than of leadership years trial direct-to-patient Cascade, joining ERT, our recently as where experience the appointment care from served who Vice and she Product we've team joined Elisa Line operations more Starting significant in as Executive. clinical strategy, has executive Additionally, investments brings technology, made most XX our health Chief President and Product Officer. Elisa in with of technology. and

are expands, focused clinical research. penetrating XX including eCOA, Science real-world also we verticals, into diversity on and As penetration new in evidence

prospects In the over revenue we summary, months our and XX quarter we next with the for enthusiastic delivered strong beyond. are about growth, accelerating results and

With over Financial Officer, Chief to that, we'll comments. some now call Mike turn with Zaranek, closing then our return I'll the

Hello, David. you, Thank everyone.

finish go the quarterly then XXXX will for guidance. and through will Holdings, we Science First, XX with the I results

the same in demand $XX.X and million, were million September for increase prior we the was net X the the by XXX% by number our were executing. months in the driven our Revenues of the from evidenced year. in increase an of $X.X bookings XX, XXXX, the as Growth increase offerings, ended a projects year-over-year for period

enable technology through science DCT primarily of enhance two, number our to life a and As our and revenues trials to we through from derive full-service sources: clinical arrangements our licensing reminder, X and/or i.e., platform a one, services, technology contractual proprietary number institutions; variety Metasite. and

an September year performance revenue, for increase $XX.X the demand we contracts the XX, XXX% period due earlier to large increased In booked bookings quarter. our to key the ended Net prior as a months monitor were indicator. bookings of net for addition couple million, with from also of X a XXXX, in offering, an

year-to-date, XXXX. for our year results, we the these bookings have projections internal surpassed for With full already net

that revenues of our part from due the vary this timing in at At contracts. mention profitability a current bookings, number substantially limited around I'll quarter-to-quarter, can point, to scale, and

to XX.X% XX, gross XXXX. negative adjusted profit September for compensation, margin stock-based ended Excluding X.X% quarter increased the from

implemented factors our us change of and to previously, higher-margin of backlog. of last not the pass-through with to, stated you the But That some percentage number new limited pleased with deliver a hiring XXXX. needs timing to We're pricing that and the a on new resulted seen the expansion market strategy bookings a of we in projects, offerings. ramp we've year-over-year of quarter and profile on in might As on margin margins, can we've including, basis. recall, relative of revised the influence but existing going costs, as revenue a and

million, $XX.X excluding the of $X.X prior were million the a expenses, and in for same XXX% administrative and general quarter period the the Selling, year. from increase amortization depreciation

scale. or increased web benefits, and recruiting headcount as services well of and with Corp., anticipation LSAQ. as as planned LifeSci in employee led commercialization, delivery the significant was merger and David underlying in invest earlier, we mentioned to support increased As to technology, due to growth infrastructure an company continue to as in effort SG&A headcount salary The in Acquisition software increases in well increase our investment The mainly II costs. to

due such We SG&A also as the fees and with expense revenues due and consulting significantly bookings the compared the in capitalized XX, saw increases months LSAQ in period amortization merger, expenses to X for ended XXXX, XXXX. more September to commission associated to same sales

expenses of to $X.X we compared million was loss in which compared net to loss loss Adjusted million taxes, the million calculate amortization, a EBITDA, period $XX.X $X.X a the net million XXXX. loss in loss same the a Adjusted year of adding the interest, and to in a same stock-based for quarter ago. compensation period net back in quarter was $XX.X by depreciation, transaction of

to wanted so far the context momentum Now of year. bit we've and seen we also this demand regarding provide a

million $XX.X year. million $XX.X XXXX the up the period For period generated than XXX% $XX.X revenue of September and X.XXx X-month more we is the year-over-year last million. revenue versus ending year full XXXX, of This in XX, same

ahead prior offerings we've XX, the our for XXXX, we generated generated million David of of demand full forecast for net seen year over As is September and year-to-date mentioned, the for ending and bookings, than XXXX is twice the which $XXX all period million. million we more $XXX in $XX strong of

Likewise, meaningfully a As opportunities. record more sits sized November, of throughout an with number funnel increase we a traction early qualified XXXX, seen at our sales of in level. have

cash equivalents Moving approximately balance to cash, short-term quarter investments. million ended We and sheet. $X with the the of

pleased October, generated proceeds which to PIPE merger are approximately early of we concurrent in mentioned, complete David As and our $XXX net million.

are pleased We guidance our XXXX. which December ending our quarterly full the Based by are we internal results, exceeded formal momentum, XX, calendar this forecast. for initiating on year

XXXX, revenues growth XXX% ending in Adjusted to is EBITDA revenue, year $XX.X to XX, for of to expect $XX.X negative We XXXX million XXX% million. the to approximately be negative full million representing $XX.X over of $XX.X year million. expected December $XX.X

options position counts Lastly, in therefore, being basis, expected be would our share the anticipated any be XXX.X we loss-making anti-dilutive. and is to we basic the approximately to the a basic be expect million. quarter, diluted count deemed share be converted And a upcoming are in Since on GAAP anticipating to same.

to the wanted filings. By call SEC. separate filed SEC turn have we the business I back provide to with X I David, relative Before to of our clarification will over today, close documents

to First, our as an earnings an filed release X-K. attachment has been

Second, the will ending management the which Science with we related financial amended contain analysis will legacy things, file updates and discussion X-K, XX, XX filed XXXX. notes an on the X-K well related as Super we other including, for of and amongst October statements as quarter XX, materials September to

October. file the quarter LSAQ LifeSci since public of the was a did is necessary legacy early Corp., at Acquisition the since Third, XX-Q close or for will LSAQ, end we a transaction the until company not II which

June. has a Science XX consistent the to merger. may know, operated to of fiscal We in prior year some how As calendar intend year-end by ending a XXXX, fiscal to year transition with you LSAQ

this point, call to I to like David closing would back At the comments. turn for

Mike. you, Thank

data We results for agile standardize this to with are innovate, burden, access of on operating pleased decisions. diversity, which very trial highest this from enabling and disrupt specialized continue designs, one certainly will and universal unifying through technology the to the the patients retain quality system processes, more large networks industry rate, a makes improve and unifying accelerate we patients empowered through to very set industry. our clinical one providers as at enable believe have the reduce higher drug and increase make the patient We are Science of possible our anywhere. to enrollment, generate quarter that deliver compliance, XX we all which

I here down as the As team incredible this recognize mission XX a we've innovation. experienced. we very final at team path note, as continue feel talented as and professional, assembled our who work it's are of to and privileged to they are passionate Science important a about growth alongside

who share to to disrupting traditional grateful the our also investors on clinical our mission. and We're trial model newest our commitment delivering

I'll to we will to questions. that, the turn With it now up open operator. over

[Operator Instructions] from Cowen. Our of line from comes the Rhyee question first Charles

for in in kind would that quarter. maybe rate, when any quarter? directionally book-to-bill guess, here is congratulations in more expect guys about great reached momentum going bookings sort obviously, you us quarter of you like indication at, hoped of a what Mike, of year and still to we on saw for year? of well And as should hear X you're given can size variability this think And terms is middle give continue helpful. bit point we November next beyond a we we mean for asking something the that sort expectations into And that full after here the here. think to I that strong third here. that Anything little your Really it's might your bookings? had fourth the we year be and pipeline are the small David months, the this understanding as at already Having the of there results in relatively and as volatility

was is for Mike what the think of remarks the first that this Yes, year, the question. exceeded Charles, I appreciate record the expectation in at the we prepared what sales level. We're pleased qualified a original was I year. quarters the X have we very sits this with funnel full the through fact here. said

nice on front. So momentum that

-- on in of some terms give let I you think Yes, seeing we're -- other other that. some me color

the from about with the worked XX% bookings look previously. that X customers coming you months had year, As first this we in of at of we've

in well new a as to respect we So repeat that, mix metric as the terms of customers. customers with that's nice think

in and look third XX the we larger in we previously. top what worked average selling an deals quarter, we've of saw we couple also the increase saw at the a As pharma price, we companies that quarter, won in with X from

to formal with record guidance level quarter, right a So where to relative sitting we where not sit funnel the sales providing qualified from we and the I numbers we the But year-to-date right now, are now. in the bookings. pleased respect third we're think with sit

Great. And a question me -- then, then. well, maybe on David, And broader here. move let just

all -- in more delivering and landscape like competitive partners capabilities You've of that's more what we larger more players from obviously push players Maybe your single in you necessarily to see delivers of If give looks other sorry, multiple the currently solution into the how and either this market, it. or market adjacencies. sense kind kind your broadly into are positioned formats of here. within the yourselves it necessary a pharma think kind capabilities you seeing are of

well. for with to eConsent telemedicine these a and in tech lot a complete solutions Thanks lot fully trial executing eCOA, research. doing plug-in clinical between of the question, a a that maybe We're trial. coming hearing Sure. clinical from orchestrate workflow are enabling a seeing you're enables such we're perspective. for that decentralized so and be Charles. platform decentralized as decentralized to and the Hope Well, companies claiming is Key distinction entire tech our clinical point point solutions

platform, that patient, coordinators devices, significantly and engagement fully there and the others. real-time remote any coordination includes and telemedicine and nurse, that we on-premise investigator, on better ours But eCOA, do connected that and also investigator, it eConsent than mobile telemedicine have are so all And a we we module. the the between and believe one integrated united does

scale orchestrating specialized of we trials believe world, only the while stop Science which a technology our at company clinical these tech, the tech creates through And is virtuous providing around that's fully of decentralized networks companies that most XX just cycle. also

the and meaningful care long-term patient between continuously which creates and enables moat. provider So it competitive connected devices, to really interactions any the the a us improve health

Kreger from of question Blair. comes next John from William Our the line

point. your that U.S.? give a mix in versus geographic maybe how non you is showed U.S. to also revenues sense your about last Can And just in us that expand David, what bookings, on up today?

Yes, John, Sure. this the is Yes. Mike. question. thanks for

what today a The is think projects. platform we've and we've markets. said global translated utilized has in terms success had number winning in I that of good been of

As come we today, in bookings here have global sit the been nature. of a in have that number

currently couple the so, respect as to revenue month revenue standpoint. announced is opportunity from the terms And within of U.S. XH -- that more an of and in with CMIC might largely of really the based, that to or from have but region. strategic rest perspective, we global mix, us from releases the increasing in the remains terms particularly on business a basis, historically Asia Pac of you overall In world a partners for the last a press Medi provides execute the seen

follow-up. then And Great. a

Now you coming for can year? about plans is plan. a your you've investment aggressive more I bit that closed, know a the transaction the pretty signaled talk just

detail more would happen. spending I hear So bit a to where the on love will little

Sure. Thanks for the question, John.

So expanding moving as and we're commercially, at technologically. forward, we look geographically

I And the so to investments year, from a organization prepared commercial and tripling make comments, to in the continue commercial commercial standpoint, this throughout organization. we in expect noted the we're as

to make as geographically investments We expect well.

And the but helps as and the to enabling and expanding Pac so good expand participate that's as standardize XX. Mike a to to CRO Medi consistent One, which us in bring more Asia. into -- into Asia It's on commercial the also mentioned, us Pac standard back enables it they CMIC more strategy, opportunities them also we with market, fronts. is CROs of into very and world. identify just centralization Science X And partnerships both Asia with rest in it partnership created XH on also

investments itself, I lot of the what then the as other the I we're workflow, had to a enable think, in market, platform making relative is finally, particularly technologically, uniquely we referenced. to just players have, and And of in which in

of generation, the the interact to evidence not constituents platform order feature just functionalities to all So to the be but in with in seamlessly. really workflow enable able to different the enable order the

of from line comes Coldwell next Eric Our from the question Baird.

it them Were together on bit how curious a give we XH. joint before formally how in do how CRO with go for to a and partnerships? you sales them the came co-promoting little to when could you commercialize relationships how those be? do to those to does your market them? for background CMIC the And CRO I'm partner? previously with working on these it to take coming Could little How you? start recent structuring Is in if it us new Is curious with partnership, offering? I'm funnel, working dig -- from work it co-promote you ramp work? the and just you is long

Yes, some parties the your come about. conversations which just how We've with time. for starting question, of both is think having beginning these these quite relationships I with been

year. Some formalize point of where these. over conversations going to able finally back a these But to got we we're the

rest of And -- reciprocity, with light rest legs, is infrastructure the we're as And to if Asia both plus be to for best the marketplace technology without relationship. really able that It's just be gives in about behind everything. infrastructure and are of to think we them -- will, penetrate perfect the costs the really having it, and relationships about that you arms really Pac, us make thinking and better of how that will, then happen. this particular, these underpins a world, sits couldn't it their world, if you

them. In in regards relationships we the to CROs, have of great terms question with

partnerships, clinical you All built to traditional giving as is the think able we of the CROs supplement at And infrastructure ways are them if about a structured, manage the trial clinical ability to CRO they're infrastructure. our trial site-based what centralized most the to look network. be with

And sites. the right sites, to sites getting in it's identifying order and happen. are So as all those possible, that's make that as designed up and monitoring running about those about fast train sites SOPs the those

them them is the the white the to in about currently to. to decentralized SOPs And they get they don't research to having Science without space CROs that partnership with beautiful in opportunity able place. really access or it enables thing The have to already be to have technology the all the clinical and it change participate XX of gets

gives clinical rest sites putting the network access are clinical population of engaged X% today. clinical to about site, of XX only top think the the where them, about a their really join in as only you that to XX% and if X% So traditional get contacted on it participate research ever trial of by of research, of Science site virtual the doesn't patients

my follow-up It's margin. And is on shifting gross gears.

You the this of quarter-to-quarter had that us that third be selling, a think in out quarter. gross And above quarter in have you margin. already of Street you anticipating better gross There's mix and the would model, expected. with number versus the your influences whether license Obviously, foreshadowed variance both I on tech the came margin than you're we Metasite. work it's were

to factors on gating about now, margin You the great. margin the variance if think pass-throughs. of labor quarter were the world a give everybody quarter which then sense right revenue the that what and and us industry. if of this between rank is influences then, And work, I could labor direct far, willing you in certainly force you're this were in there's could would knows, the gross -- in a bigger be talk course, for labor curious model cost, this around pass-through on if challenge have potentially go what the possibly, you mix I'm

as said influence some we've is Yes, a can of This there factors Eric. Mike. are into I previously, quarter, the question. margins. and appreciate I came mean, think you're Sure. as number that right. I Sure. this -- we Thanks,

we And have terms our The in percentage the new that. in We terms timing of do those good can't the also number of have in ramp positive of bookings, pass-throughs of some you highlighted phases. saw on as did things. momentum projects of the start-up You a relative progression with projects. influence and of some

put it the to cost, that as the can laboring to it's cost, the scale, but booking a can on one, of in some do the ways QX existing respect From standpoint. We some and But about from have only some manage Number current couple backlog that to think ensure things to the pricing labor think we initiatives look continuing to we to the continue in with legacy a new that relates pricing talked strategic we that. QX our have obviously, we XXXX underwent put execute And XXXX. to have not some try that we we that that cost got can volatility. of with at that we've But change in standpoint, in place, hire still it's place labor momentum associated of of place. I we're at in about.

bit And so to margin. of gross continues be an overall on anchor the profit that a

associated XXXX, natural unwind here that over there course of should the some As be that. uplift with

customers. some you terms done potentially we've negotiations. versus We've larger get of with of of that of reasonable amount those some progress can in more pricing in volume respect I And that the strategy terms that there's land expand into some and there the with to of negotiations, getting about the talked think a balance

work And that. so to we continue through will

performance research. head-to-head things can cases, in one Metasite of cases, gotten the way customer to scale, I particularly seen the think going we've where of see that. have we a like relative many But can clinical doing the approaches. traditional see bit with as site-based more In around we the traditional things that all we're

have data and be so to helpful And articulate being process to able value forward. continue has helpful will going the to the been

some give through we're pass-through. therefore, some you we're the are those context in-sourcing is couple additional in things to Another we've some of And just cases, outsourced. that historically of at capabilities that working looking

been here, moving and up able make, front. going to that additional we we have continue technology automated. drive as with we tasks on pick that historically scale it's associated efficiencies some some Obviously, margin some there And be -- efficiencies in to we the some that investments The we'll should manual nature, believe the have be so more business forward, that. believe, grow will

of more in is were cost our things And and recently do acquisition able the drive by been to one building to of continue patients. that finally, that, to invest in patient some the we able then And down doing we've cases. out communities of

around... context additional some hopefully, So that's

first Congrats on public your quarter.

Our next of Frank from question Street Lake the Capital from Markets. comes line Takkinen

to start with mix. Wanted

offerings little question, the mix a in in around what like forward? then bit little just referenced looks just how you give and those of the us could the look if And maybe also Meta You the and to backlog previous full information drive the like DCT, trend between technology could but speak X composition a this bit what more quarter. going

Thanks, I the to Sure. try question. of to that. appreciate address Frank. Happy some

scale, have obviously, quarter a terms make number again, the a difference. current a you remember small of and In have in we to mix, can particular at the of think meaningful I can volatility projects,

I what to that's and think equitable across bookings, and of on consistent is about X our talked previously. offerings amongst we're annual seen expecting terms what the split with the we've more an see we've board a directionally what in basis,

Okay. COVID And about wanted helpful. just I little then second to one, a the bit. That's speak

maybe the You're per see experienced negative in there but result times, COVID both, any as se, you well I'm that at nice a in quarter? wasn't impacts about felt positive like talk unique position as looks where headwind talk It or to But tailwinds just some sure. any you headwinds, the the you quarter. in

Yes, sure.

weigh can on So maybe in and David that. start, I'll

for full have couple COVID basis. components open there look of One, context in growth, around standpoint, the we are the case, now not in more I up revenues doing revenue that sites for were think to -- there a year-over-year as we're example. That's a the overall year, strong the a whereas forecasting to if you question. that XXX% growth on doing X QX we're look are most year-over-year what increase the the at world year, of and is a than are that you was last of business, -- of and at components seen sequential from

some think they put to our the for the the a I sites up, for that out the research. that think as of regulatory papers approach what have opened white speaks bit, we're an I doing is and acceleration is in So last even which and you of year clinical around have XX-plus FDA, example, look seeing positive. having support this at business environment the And if a

much this we much And you our fact, I whenever in did to might specifically. have Analyst our question relates think mid-July, and the to Day about talked related asked it impact, As we business business of about in from specific at how overall it COVID at the that funnel, the sales XX% by perspective. which representing is the infectious all our quantified time, than we smaller now, qualified disease pipe is the time, pipeline way, where of of about a

of If COVID-related today, as we trials, here at it's sub-XX%. proportion you the look sit

impact a So or perspective. a not from business a standpoint from performance huge pipeline

want you add anything do David, else? to

It's and would And delivery. really other been guess not to I I I'm anymore. say Yes. it's Science thing of super really able about exceptionally COVID about deliver well, the has the XX is proud team.

a the take And all about the bookings from that's business. look of of that quickly. factor of in XX% the very repeat the at we're that the beginning You year, notes we've are experienced a and executing proving some bookings of from the model prepared

XX% retaining longer So longer, bring patients up we're in up our a in. traditional in to when terms model more to to XXx population. ability able the bring than diverse patients patient faster We're to of

really, to execute people the not continue that, to and the And so think on as what or -- is And you're continue to of to an and to about decentralization, way model or is we're going doing as supplement as COVID the deliver a pure fix-it to get model, business. face a be beyond what's happening innovation. successes changed for alternative showing. decentralization But currently the to shift an we repeat really able

Coman time, At further to turn remarks. questions. I'm to Instructions] no closing showing conference [Operator David like the this over would for back I

for have executing we're see We're obviously we we us, we the thanks, Well, momentum look the the perform. terms and very joining again to able were to about for right. how quarter thanks excited call. again and of bullish what on we'll it. future the participating in call. And next very today's All quarter's that behind in and and you we're And us, about everybody,

you today's participating. This Thank conference call. concludes for

You may now disconnect.