Medpace Holdings reported second-quarter 2026 results with revenue of $707.3 million, up 17.2% year-over-year, and GAAP net income of $121.4 million, or $4.25 per diluted share. EBITDA for the quarter was $153.4 million (21.7% margin) and net new business awards totaled $795.7 million, producing a book-to-bill of 1.13x. The company reaffirmed full-year 2026 guidance for revenue of $2.805–$2.885 billion and GAAP net income of $494.0–$514.0 million.
Financial Highlights
- Revenue: $707.3 million for Q2 2026, a 17.2% increase from $603.3 million in Q2 2025.
- Gross-related costs: Total direct costs of $505.7 million for Q2 2026 (comprised of direct service costs excluding D&A $202.6M and reimbursed out-of-pocket expenses $303.1M).
- Operating income: Income from operations of $146.8 million for Q2 2026 (versus $126.3 million in Q2 2025).
- Net income (GAAP): $121.4 million for Q2 2026, or $4.25 per diluted share (Q2 2025: $90.3M, $3.10 diluted).
- EBITDA (Non-GAAP): $153.4 million for Q2 2026, representing a 21.7% EBITDA margin (Q2 2025: $130.5M, 21.6%).
Business Highlights
- Backlog expanded to $3,014.2 million as of June 30, 2026, a 4.9% increase year-over-year from $2,873.6 million.
- Net new business awards in Q2 2026 were $795.7 million, up 28.2% from $620.5 million in Q2 2025, yielding a net book-to-bill ratio of 1.13x.
- Generated $162.0 million in operating cash flow during Q2 2026 and held $502.7 million in cash and cash equivalents at quarter end.
- Share repurchases: repurchased 705,616 shares for $294.7 million in Q2 2026; $527.0 million remained available under the repurchase authorization as of June 30, 2026.
- Year-to-date operational momentum: revenue for six months ended June 30, 2026 rose 21.7% to $1,413.9 million, supporting increased EBITDA and net income year-to-date.
Original SEC Filing:
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.