MEDP · Medpace Holdings, Inc.

Medpace Holdings reported strong first quarter 2026 results with revenue growth of 26.5% to $706.6 million, driven by continued backlog conversion and new business awards. The company's net new business awards increased 23.7% to $618.4 million, though the net book-to-bill ratio of 0.88x indicates new business awards were slightly below revenue for the quarter. While revenue grew significantly, the net income margin declined to 17.5% from 20.5% in the prior year period, reflecting margin compression despite higher absolute earnings. The company maintained strong liquidity with $652.7 million in cash and generated $151.8 million from operations during the quarter. Looking ahead, Medpace provided full-year 2026 guidance projecting revenue growth of 8.9% to 12.8% over 2025, with GAAP net income expected between $487.0 million and $511.0 million. Separately, the company announced the planned retirement of President Jesse Geiger effective May 31, 2026, with CEO August Troendle reassuming the role until a successor is appointed. The departure is described as a retirement not resulting from any disagreement with company operations, policies, or practices.