Medpace Holdings, Inc., founded in Cincinnati, Ohio, in 1992, functions as a contract research organization (CRO) delivering clinical development and research services. ...
Medpace Holdings, Inc. (NASDAQ: MEDP), founded in Cincinnati, Ohio in 1992 by Dr. August J. Troendle, is a leading global clinical contract research organization (CRO). The company offers comprehensive, full-service drug and medical device development solutions, spanning the entire product lifecycle from early-phase clinical trials to post-market surveillance. Medpace's integrated ...Medpace Holdings, Inc. (NASDAQ: MEDP), founded in Cincinnati, Ohio in 1992 by Dr. August J. Troendle, is a leading global clinical contract research organization (CRO). The company offers comprehensive, full-service drug and medical device development solutions, spanning the entire product lifecycle from early-phase clinical trials to post-market surveillance. Medpace's integrated services include clinical trial design and management, central laboratory services, bioanalytical laboratory testing, ECG and imaging core labs, regulatory affairs support, data management, biostatistics, pharmacovigilance, and medical writing. The company operates in over 40 countries with approximately 6,200 employees, serving clients across North America, Europe, and Asia. Medpace is known for its scientifically-driven approach, emphasizing regulatory and therapeutic expertise. Financially, the company has demonstrated strong performance with a market capitalization of about $16.5 billion as of the latest data, and robust revenue generation, though it does not pay dividends. The company's profitability metrics such as return on equity and profit margins are strong, indicating efficient operations. Medpace's business model focuses on providing outsourced clinical development services, reducing the cost and time of bringing new therapies to market for its clients. Its leadership has been stable with its founder at the helm, contributing to a focused and experienced management team. The company's future outlook involves continued expansion in emerging markets and leveraging advanced technologies to enhance clinical trial efficiency. Overall, Medpace plays a critical role in the healthcare ecosystem by enabling the development of innovative medical products that improve patient lives globally.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$2.5B
+20.0%
+0.1%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$451.1M
+11.6%
-2.0%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+30.1%
-3.4%
+2.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
+21.1%
-0.2%
+3.7%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
+17.8%
-7.0%
-2.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$681.9M
+19.2%
-4.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
+26.9%
-0.7%
-4.8%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
54.6%
+201.3%
+35.5%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.74x
-21.0%
-13.6%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good day, ladies and gentlemen. And welcome to the Medpace Second Quarter 26 Earnings Conference Call. At this time, participants are in a listen-only mode. After the speakers' remarks, there will be a question and answer session. If you would like to ask a question, please press 1-1 on your phone. If your question has been answered and you would like to remove yourself from the queue, simply press 1-1 again. As a reminder, this call is being recorded. I would now like to introduce your host for today's conference call, Lauren Morris, Medpace's Director of Investor Relations. You may begin.
Lauren Morris: Good morning, and thank you for joining Medpace's second quarter 26 earnings conference call. Also on the call today is our CEO, August Troendle our CFO, Kevin Brady. Before we begin, I would like to remind you that our remarks and responses to your questions during this teleconference may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 2 thousand. These statements involve inherent assumptions with known and unknown risks and uncertainties. As well as other important factors that could cause actual results to differ materially from our current expectations. These factors are discussed in our Form 10-K and other filings with the SEC. Please note that we assume no obligation to update forward-looking statements even if estimates change. Accordingly, you should not rely on any of today's forward-looking statements as representing our views as of any date after today. During this call, we will also be referring to certain non GAAP financial measures. These non GAAP measures are not superior to or a replacement for the comparable GAAP measures. But we believe these measures help investors gain a more complete understanding of our results. A reconciliation of such non GAAP financial measures to the most directly comparable GAAP measures is available in the earnings press release and earnings call presentation slides provided in connection with today's call. The slides are available in the Investor Relations section of our website at investor.medpace.com. With that, I would now like to turn the call over to August Troendle.
August James Troendle: Good day, everyone. The business environment was strong in Q2 26. Cancellations were well behaved, and supported a record quarter for net bookings. RFPs were up sequentially and year over year, generating high quality opportunities. Initial award notifications remained solid although they declined sequentially from a very strong Q1. Overall, the environment remains constructive into July and we are making good progress in positioning the business for 2027. Kevin will now review our financial results from Q2.
Kevin Brady: Thank you, and good morning to everyone listening in. Revenue was $707.3 million in the second quarter 26. This represented a year over year increase of 17.2%. Revenue for the 6 months ended June 30, 2026 was $1.41 billion, …