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Mar 31
Medpace Q1 2025 Earnings Report
Medpace reported solid revenue and earnings growth in Q1 2025, though new business awards declined year-over-year.
Key Takeaways
Medpace delivered strong financial results in Q1 2025 with revenue reaching $558.6 million and net income at $114.6 million. However, the company experienced a decline in net new business awards, reflecting a softer demand environment compared to the prior year.
Medpace
Medpace
Forward Guidance
Medpace anticipates modest revenue and earnings growth for the full year 2025 with EBITDA expected to reach up to $492 million.
Positive Outlook
- Revenue guidance for FY25 set between $2.14B and $2.24B
- Expected GAAP net income of $378M to $402M
- Forecasted EPS range of $12.26 to $13.04
- EBITDA guidance between $462M and $492M
- Effective tax rate projected between 15.5% and 16.5%
Challenges Ahead
- Revenue growth range implies limited upside vs. FY24
- Guidance excludes impact of future share repurchases
- Book-to-bill ratio dropped to 0.90x
- Net new business awards down 18.8% YoY
- Cash position decreased significantly from previous quarter