Medpace Holdings, Inc. reported significant financial growth in its latest quarterly results, with net revenue reaching $706.6 million for the three months ended March 31, 2026, a 26.5% increase from $558.6 million in the same period last year. The company's income from operations also rose to $141.5 million, up from $113.5 million, reflecting a 24.6% increase. Net income for the quarter was $123.9 million, compared to $114.6 million in the prior year, resulting in a basic earnings per share of $4.35, up from $3.77.
The increase in revenue was primarily driven by growth in the Metabolic, Oncology, Central Nervous System, and Antiviral therapeutic areas. Total direct costs increased to $510.3 million, up from $380.2 million, largely due to higher reimbursed out-of-pocket expenses and increased personnel costs to support service activities. Selling, general, and administrative expenses decreased by 17.2% to $47.9 million, attributed to a reduction in stock-based compensation expenses.
Operationally, Medpace's workforce expanded to approximately 6,300 employees across 46 countries, supporting its global clinical research services. The company reported a backlog of $2.93 billion as of March 31, 2026, an increase of 2.9% from $2.85 billion a year earlier, indicating a strong pipeline of future revenue. The company also noted that net new business awards for the quarter were $618.4 million, compared to $500 million in the same period last year.
Medpace's cash position improved significantly, with cash and cash equivalents rising to $652.7 million from $497.0 million at the end of 2025. The company did not execute any share repurchases during the quarter, maintaining an authorization of $821.7 million under its share repurchase program. Looking ahead, Medpace plans to continue its operational growth through organic expansion and selective acquisitions, supported by its strong cash flow and available credit facilities. The company remains optimistic about its ability to navigate market conditions and capitalize on opportunities in the clinical research sector.
About Medpace Holdings, Inc.
Medpace Holdings, Inc. is a global clinical contract research organization (CRO) providing full-service Phase I-IV clinical development services to the biotech, pharmaceutical, and medical device industries. Focused on therapeutic areas like Oncology, CNS, and Cardiovascular, it supports drug development through trial management, regulatory guidance, data sciences, and laboratory services. Its business model emphasizes quality, efficiency, and deep therapeutic expertise to serve small and mid-sized biopharma companies worldwide.
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