RADNOR, Pa., Oct. 23, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Medpace Holdings, Inc. (NASDAQ: MEDP) ("Medpace").On October 21, 2024, during after-market hours, Medpace reported its third quarter 2024 financial results and cut its revenue guidance for full-year 2024. During an investor call held on October 22, 2024, Medpace indicated that the company had seen ...

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $533.3 million, representing a year-over-year increase of 8.3% [7][8] - Year-to-date revenue for the nine months ended September 30, 2024, was $1.57 billion, an increase of 13.3% [8] - EBITDA for Q3 2024 was $118.8 million, up 31.7% from $90.2 million in Q3 2023, with an EBITDA margin of 22.3% compared to 18.3% in the prior year [8][9] - Net income for Q3 2024 was $96.4 million, a 36.7% increase from $70.6 million in the prior year [9] - Full-year 2024 total revenue is expected to be in the range of $2.09 billion to $2.13 billion, representing growth of 10.8% to 12.9% over 2023 [10] Business Line Data and Key Metrics Changes - Net-new business awards entering backlog in Q3 decreased 12.7% year-over-year to $533.7 million, resulting in a net book-to-bill ratio of 1.0 [7][8] - Ending backlog as of September 30, 2024, was approximately $2.9 billion, an increase of 8.8% from the prior year [7] Market Data and Key Metrics Changes - RFPs were down modestly year-over-year and sequentially, but the quality of RFPs appears good [6][14] - The business environment remains decent despite elevated cancellations, with expectations for future growth [6] Company Strategy and Development Direction - The company aims to rebuild its pipeline of opportunities and expects book-to-bill numbers to approach a more usual range of greater than 1.15 in the second half of 2025 [6][10] - The company remains focused on its core business strategy, emphasizing biotech and full-service work, without pursuing large pharma contracts [59] Management's Comments on Operating Environment and Future Outlook - Management noted that elevated cancellations were primarily due to companies funded during the COVID high running out of money, rather than dissatisfaction with services [12][24] - The company anticipates that if cancellations return to normal levels, it can rebuild its pipeline and improve future backlog recognition [6][10] Other Important Information - The company generated $149.1 million in cash flow from operating activities in Q3 2024 [9] - As of June 30, 2024, the company had $656.9 million in cash and $308.8 million remaining under its share repurchase authorization program [9] Q&A Session Summary Question: Can you quantify the cancellations and their trends? - Management indicated that cancellations have been elevated across the board, primarily from companies that ran out of funding during the COVID high, with no specific trend across therapeutic areas [11][12] Question: What is the competitive environment like? - Management noted that while the environment is competitive, there has not been a trend toward aggressive pricing or irrational behavior among competitors [14][54] Question: What are the expectations for book-to-bill in Q4? - Management expects book-to-bill to be better than 1.0 but below 1.2, indicating a slight improvement from Q3 [36] Question: How much of the backlog is from the 2020-2021 vintage? - Management acknowledged that there is a portion of backlog from that period, but did not provide specific numbers [40] Question: What is the current headcount and employee growth outlook? - The company increased headcount by about 1.8% from the prior year and expects to maintain this level through Q4, with accelerated growth anticipated in 2025 [44][62] Question: What is the current backlog burn rate? - The burn rate has been consistent at 18.2% for the last three quarters, influenced more by bookings than by the progress of studies [66]

Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock $0.01 par value MEDP NASDAQ Global Select Market UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________________________ FORM 10-Q ___________________________________________ (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or o TRANSITION REPORT PURSUANT ...

Medpace Holdings, Inc. MEDP shares are trading lower on Tuesday after reporting its third-quarter financial results yesterday.Revenue rose 8.3% year-over-year to $533.3 million, missing the consensus of $540.99 million.On a constant currency basis, revenue increased by 8.1% in the quarter. As of September 30, backlog rose by 8.8% to $2.927 billion.Net new business awards totaled $533.7 million for the third quarter of 2024, resulting in a net book-to-bill ratio of 1.00x, compared to $611.5 million in the pr ...

Medpace (MEDP) came out with quarterly earnings of $3.01 per share, beating the Zacks Consensus Estimate of $2.77 per share. This compares to earnings of $2.22 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 8.66%. A quarter ago, it was expected that this provider of outsourced clinical development services would post earnings of $2.52 per share when it actually produced earnings of $2.75, delivering a surprise of 9.13%. Over ...

Revenue Performance - Revenue for Q3 2024 was $533.3 million, an increase of 8.3% from $492.5 million in Q3 2023, with a backlog conversion rate of 18.2%[2] - Year-to-date revenue for 2024 was $1,572.5 million, reflecting a 13.3% increase from the prior year[7] - Full year 2024 revenue is forecasted to be between $2.090 billion and $2.130 billion, indicating growth of 10.8% to 12.9% over 2023[9] - Net revenue for the three months ended September 30, 2024, was $533,317,000, representing a 8.3% increase from $492,499,000 in the same period of 2023[19] Profitability Metrics - GAAP net income for Q3 2024 was $96.4 million, or $3.01 per diluted share, compared to $70.6 million, or $2.22 per diluted share in Q3 2023, with a net income margin of 18.1%[5] - Net income for the nine months ended September 30, 2024, was $287,368,000, up 40.4% from $204,512,000 in the same period of 2023[19] - Basic net income per share attributable to common shareholders for the three months ended September 30, 2024, was $3.11, compared to $2.30 for the same period in 2023, reflecting a 35.2% increase[19] - Full year 2024 GAAP net income is projected to be between $376.0 million and $388.0 million[9] Cash Flow and Liquidity - Cash and cash equivalents were $656.9 million as of September 30, 2024, with $149.1 million generated in cash flow from operating activities during Q3 2024[8] - Cash and cash equivalents rose significantly to $656,900,000 as of September 30, 2024, compared to $245,449,000 at the end of 2023, indicating a 167.5% increase[21] Backlog and Business Awards - Net new business awards in Q3 2024 were $533.7 million, a decrease of 12.7% from $611.5 million in Q3 2023, resulting in a net book-to-bill ratio of 1.00x[4] - Backlog as of September 30, 2024, increased by 8.8% to $2,927.4 million from $2,689.5 million in the prior year[4] Operating Expenses and EBITDA - EBITDA for Q3 2024 increased by 31.7% to $118.8 million, representing an EBITDA margin of 22.3%, compared to $90.2 million and 18.3% in Q3 2023[5] - EBITDA for the nine months ended September 30, 2024, was $346,672,000, compared to $266,663,000 for the same period in 2023, reflecting a 30.0% increase[26] Shareholder Equity and Repurchase Program - Total shareholders' equity rose to $881,439,000 as of September 30, 2024, compared to $558,950,000 at the end of 2023, indicating a 57.7% increase[22] - The company had $308.8 million remaining under its authorized share repurchase program as of September 30, 2024[8] Advanced Billings - Advanced billings increased to $670,939,000 as of September 30, 2024, from $559,860,000 at the end of 2023, showing a 19.8% growth[21]

Medpace (MEDP) closed the most recent trading day at $343.05, moving +1.57% from the previous trading session. The stock outperformed the S&P 500, which registered a daily gain of 0.9%. Meanwhile, the Dow gained 0.81%, and the Nasdaq, a tech-heavy index, added 1.22%. The provider of outsourced clinical development services's shares have seen a decrease of 2.78% over the last month, surpassing the Medical sector's loss of 4.05% and falling behind the S&P 500's gain of 3.15%. Market participants will be close ...

NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Medpace Holdings, Inc. ("Medpace" or "the Company") (NASDAQ: MEDP). Investors who purchased Medpace securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/MEDP. Investigation Details On September 25, 2025, Jefferies downgraded Medpace, citing perceived weaknesses in the Com ...

In the latest market close, Medpace (MEDP) reached $354.65, with a -0.57% movement compared to the previous day. This change lagged the S&P 500's 0.03% gain on the day. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq increased by 0.2%. The provider of outsourced clinical development services's stock has dropped by 9.01% in the past month, falling short of the Medical sector's gain of 2.67% and the S&P 500's gain of 1.54%. The upcoming earnings release of Medpace will ...

When deciding whether to buy, sell, or hold a stock, investors often rely on analyst recommendations. Media reports about rating changes by these brokerage-firm-employed (or sell-side) analysts often influence a stock's price, but are they really important? Let's take a look at what these Wall Street heavyweights have to say about Medpace (MEDP) before we discuss the reliability of brokerage recommendations and how to use them to your advantage. Medpace currently has an average brokerage recommendation (ABR ...