Q2 2025 Medpace Holdings Inc Earnings Call Transcript
Key Points
- Revenue for the second quarter of 2025 was $603.3 million, representing a year-over-year increase of 14.2%.
- Net new business awards entering backlog in the second quarter increased 12.6% from the prior year to $620.5 million.
- EBITDA for the second quarter was $130.5 million, an increase of 16.2% compared to the previous year.
- The funding environment has been stable to improved, with fewer cancellations and accelerated client decisions.
- Medpace Holdings Inc (MEDP) raised its full-year 2025 revenue guidance by $280 million at the midpoint, reflecting strong performance and expectations for the second half of the year.
- Total pending RFP dollars were down in the quarter, indicating a potential slowdown in future opportunities.
- Ending backlog as of June 30, 2025, was approximately $2.9 billion, a decrease of 1.8% from the prior year.
- The win rate on competitive bids was lower than expected, impacting the overall award notifications.
- The company experienced higher reimbursable costs, which could impact profit margins if not managed effectively.
- There is uncertainty regarding the sustainability of current growth rates, particularly if the shift towards faster burning therapeutic areas does not continue.
Good day ladies and gentlemen and welcome to the Medpace second-quarter 2025 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded.
I would now like to introduce your host for today's conference, Lauren Morris, Medpace's director of investor relations. You may begin.
Good morning, and thank you for joining Medpace's second-quarter 2025 earnings conference call. Also on the call today is our CEO, August Troendle; our President, Jesse Geiger; and our CFO, Kevin Brady.
Before we begin, I would like to remind you that our remarks and responses to your questions during this teleconference may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve inherent assumptions with known and unknown risks and uncertainties as well as other important factors that could cause actual results to differ materially from our current expectations. These factors are discussed in
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