Medpace Q3 2021 Earnings Report
Key Takeaways
Medpace Holdings, Inc. announced strong third-quarter results with a 28.3% increase in revenue to $295.6 million and a 29.4% increase in net new business awards to $408.0 million. GAAP net income rose to $48.6 million, or $1.29 per diluted share.
Revenue for the third quarter of 2021 increased by 28.3% to $295.6 million compared to the prior year.
Net new business awards in Q3 2021 were $408.0 million, a 29.4% increase year-over-year, resulting in a net book-to-bill ratio of 1.38x.
GAAP net income for the third quarter of 2021 was $48.6 million, or $1.29 per diluted share, compared to $41.5 million, or $1.09 per diluted share, in the prior year.
EBITDA for the third quarter of 2021 increased by 15.7% to $60.1 million, representing 20.3% of revenue.
Medpace
Medpace
Forward Guidance
The Company forecasts 2021 revenue in the range of $1.135 billion to $1.145 billion, representing growth of 22.6% to 23.7% over 2020 revenue of $925.9 million. GAAP net income for full year 2021 is forecasted in the range of $176.0 million to $180.0 million. Additionally, full year 2021 EBITDA is expected in the range of $216.0 million to $222.0 million.