Medpace(US:MEDP)2020-07-28 21:50Company Overview - Medpace is a scientifically-driven, full-service CRO focused on delivering timely and efficient results for customers [6] - The company has a high-science approach with deep therapeutic expertise in areas like oncology, metabolic diseases, and cardiovascular diseases [6, 9] - Medpace operates globally with approximately 3,400 employees in 37 countries [7] Financial Performance - In 2019, Medpace's revenue was $861 million [9] - The company's backlog has shown consistent growth, reaching $1,294.2 million in Q1 2020 [23] - Medpace has demonstrated a strong net book-to-bill ratio, with 1.22x in Q1 2020 [20] - The company's EBITDA margin was 17.6% in Q1 2020 [25] - Medpace generated $43.6 million in Free Cash Flow in Q1 2020 [26] Market and Customer Focus - Medpace focuses on small and mid-sized biopharmaceutical companies, which represent an attractive R&D growth segment [7, 11, 16] - The company estimates its core addressable market to be $45 billion [13] - Small- and Mid-sized Biopharmaceutical CRO Addressable Market is $16 billion [14] - The top ten customers represented 29% of 2019 revenue, indicating a diversified customer base [7, 11]