)

Medpace (MEDP) investor relations material
Medpace Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
- Q3 2025 revenue was $659.9 million, up 23.7% year-over-year, with net income of $111.1 million (+15.3%) and EBITDA of $148.4 million (+24.9%). 
- Net new business awards rose 47.9% to $789.6 million, with a net book-to-bill ratio of 1.20 and backlog reaching $3.0 billion (+2.5% YoY). 
- Backlog conversion rate increased to 23.0%, with $1.84 billion expected to convert to revenue in the next 12 months. 
- Growth was driven by strong performance in Metabolic, Oncology, and Central Nervous System therapeutic areas. 
- Pre-backlog (awarded but not yet started work) is up 30% year-over-year and now exceeds the size of the reported backlog. 
Financial highlights
- Year-to-date revenue as of September 30, 2025, was $1.82 billion (+15.9% YoY); year-to-date net income was $316.0 million. 
- Q3 2025 EBITDA margin was 22.5% (vs. 22.3% prior year); operating margin was 21.5%. 
- Diluted EPS for Q3 2025 was $3.86 (up from $3.01 in Q3 2024); year-to-date EPS was $10.64. 
- Cash and cash equivalents at quarter-end were $285.4 million; operating cash flow for the first nine months was $520.6 million. 
- No outstanding debt as of September 30, 2025. 
Outlook and guidance
- 2025 revenue guidance: $2.48–$2.53 billion (+17.6% to +20% YoY); EBITDA: $545–$555 million (+13.5% to +15.6% YoY); net income: $431–$439 million; EPS: $14.60–$14.86; effective tax rate: 18.25%–18.75%. 
- 2026 preliminary outlook: revenue growth in low double digits over updated 2025 guidance; EBITDA growth at high single-digit pace or greater. 
- Pass-through costs expected to remain high at 41–42% of revenue, with a potential peak in Q4 2025 and moderation in 2026. 
- Management expects to fund growth initiatives and capital needs through operating cash flow and available credit. 
- No additional share repurchases included in 2025 guidance. 
Next Medpace earnings date

The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
I can't remember the last time an app had such a positive impact on my investment process.
)
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
)
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
)
Frequently asked questions
- Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free. 
- Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions. 
- Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more. 
Explore our global coverage
)
)