CINCINNATI: Medpace Holdings, Inc. (Nasdaq: MEDP) on Tuesday reported double-digit revenue growth for the second quarter ended June 30, 2025, and raised its full-year financial guidance.
Revenue rose 14.2% to $603.3 million, up from $528.1 million a year earlier. On a constant currency basis, revenue was up 13.8% year over year. EBITDA increased 16.2% to $130.5 million, representing 21.6% of revenue, while GAAP net income totaled $90.3 million, or $3.10 per diluted share, compared with $88.4 million, or $2.75 per share, in the prior-year period.
Net new business awards for the quarter reached $620.5 million, yielding a book-to-bill ratio of 1.03x. Backlog decreased 1.8% year over year to $2.87 billion.
Total direct costs were $423.3 million versus $374.3 million in Q2 2024, and SG&A expenses grew to $46.7 million from $41.5 million.
For the first half of 2025, Medpace generated $1.16 billion in revenue, up 11.8% from the same period last year. Net income rose to $204.9 million, or $6.79 per diluted share, while EBITDA climbed to $249.1 million, representing 21.4% of revenue.
The company repurchased 1.75 million shares in the second quarter for $518.5 million, with $826.3 million remaining under its buyback authorization.
Medpace now expects full-year revenue between $2.42 billion and $2.52 billion, up from $2.11 billion in 2024. It projects GAAP net income of $405 million to $428 million and EBITDA of $515 million to $545 million. Diluted EPS is forecasted in the range of $13.76 to $14.53.