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Sep 30, 2025
Medpace Q3 2025 Earnings Report
Medpace reported strong third quarter results with double-digit growth in revenue, earnings, and EBITDA.
Key Takeaways
Medpace delivered a solid Q3 2025 performance, achieving over $659 million in revenue and $111 million in net income, driven by robust new business awards and continued operational efficiency.
Revenue grew to $659.9 million in Q3 2025.
Net income reached $111.1 million with a margin of 16.8%.
EBITDA totaled $148.4 million, reflecting a 22.5% margin.
Net new business awards hit $789.6 million, driving a book-to-bill ratio of 1.20x.
Forward Guidance
Medpace expects continued growth for FY2025, with revenue projected between $2.48B and $2.53B and net income between $431M and $439M.
Positive Outlook
- FY2025 revenue guidance: $2.48B–$2.53B
- Expected net income: $431M–$439M
- Forecasted diluted EPS: $14.60–$14.86
- EBITDA guidance: $545M–$555M
- Tax rate expected at 18.25%–18.75%
Challenges Ahead
- Guidance excludes future share repurchases
- Income tax provision forecasted at up to $99.8M
- Interest income expected to decrease to $12.2M
- No mention of geographic or segment growth drivers
- Continued decline in net income margin from prior year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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