Medpace Holdings, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Medpace Holdings, Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, providing an update on its financial performance and business operations.</b>

AI Summary

Medpace Holdings, Inc. (MEDP) filed a Quarterly Report (10-Q) with the SEC on April 23, 2024. Medpace Holdings, Inc. reported financial results for the quarter ended March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's principal executive offices are located at 5375 Medpace Way, Cincinnati, OH 45227. The fiscal year end for Medpace Holdings, Inc. is December 31. The filing was submitted on April 23, 2024.

Why It Matters

For investors and stakeholders tracking Medpace Holdings, Inc., this filing contains several important signals. This 10-Q filing provides investors with crucial, up-to-date financial information for the first quarter of 2024, enabling informed investment decisions. The detailed financial data within the report allows for analysis of Medpace's performance trends and comparison against previous periods and industry benchmarks.

Risk Assessment

Risk Level: low — Medpace Holdings, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediately apparent negative financial indicators or significant new risks beyond typical business operations.

Analyst Insight

Monitor future 10-Q and 10-K filings for detailed financial performance, revenue growth, and any emerging risks or strategic initiatives.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-04-23 — Filing Date (Date the report was filed)
• 12-31 — Fiscal Year End (Annual fiscal year closing date)

Key Players & Entities

• Medpace Holdings, Inc. (company) — Filer and subject of the report
• 5375 Medpace Way, Cincinnati, OH 45227 (location) — Company's business and mailing address
• 0001668397 (company) — Central Index Key for Medpace Holdings, Inc.
• 2024-03-31 (date) — Conformed period of report
• 2024-04-23 (date) — Filing date

FAQ

Industry Context

Medpace Holdings operates in the commercial physical & biological research industry, specifically providing clinical research services.

Regulatory Implications

As a publicly traded company, Medpace Holdings is subject to SEC regulations and reporting requirements, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Analyze revenue and expense trends in subsequent filings to assess growth and profitability.
3. Compare Medpace's performance metrics against industry peers.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-04-23: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Key Financial Figures

• $0.01 — hange on which registered Common Stock $0.01 par value MEDP NASDAQ Global Select Mar

Filing Documents

• medp-20240331.htm (10-Q) — 710KB
• medp-20240331xexx101.htm (EX-10.1) — 129KB
• medp-20240331xexx102.htm (EX-10.2) — 115KB
• medp-20240331xexx311.htm (EX-31.1) — 9KB
• medp-20240331xexx312.htm (EX-31.2) — 9KB
• medp-20240331xexx321.htm (EX-32.1) — 6KB
• medp-20240331xexx322.htm (EX-32.2) — 6KB
• 0001668397-24-000091.txt (&nbsp;) — 5004KB
• medp-20240331.xsd (EX-101.SCH) — 43KB
• medp-20240331_cal.xml (EX-101.CAL) — 64KB
• medp-20240331_def.xml (EX-101.DEF) — 168KB
• medp-20240331_lab.xml (EX-101.LAB) — 500KB
• medp-20240331_pre.xml (EX-101.PRE) — 342KB
• medp-20240331_htm.xml (XML) — 532KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of March 31, 202 4 and December 31, 20 2 3 3 Condensed Consolidated Statements of Operations for the three months ended March 31, 202 4 and 202 3 4 Condensed Consolidated Statements of Comprehensive Income for the three months ended March 31, 202 4 and 202 3 5 Condensed Consolidated Statements of Shareholders' Equity for the three months ended March 31, 202 4 and 20 23 6 Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 202 4 and 202 3 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 24 Item 4.

Controls and Procedures

Controls and Procedures 24

— OTHER INFORMATION

PART II — OTHER INFORMATION 25 Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 25 Item 3. Defaults Upon Senior Securities 25 Item 4. Mine Safety Disclosures 25 Item 5. Other Information 25 Item 6. Exhibits 27 EXHIBIT INDEX 28

SIGNATURES

SIGNATURES 29 -2- Table of Contents

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements MEDPACE HOLDINGS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Amounts in thousands, except share amounts) As of March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 407,010 $ 245,449 Accounts receivable and unbilled, net (includes $ 1.8 million and $ 2.4 million with related parties at March 31, 2024 and December 31, 2023, respectively) 279,166 298,400 Prepaid expenses and other current assets (includes $ 0.3 million with related parties at March 31, 2024 and December 31, 2023) 58,726 49,979 Total current assets 744,902 593,828 Property and equipment, net 118,600 120,589 Operating lease right-of-use assets 138,803 144,801 Goodwill 662,396 662,396 Intangible assets, net 35,448 35,809 Deferred income taxes 75,231 74,435 Other assets 20,409 24,970 Total assets $ 1,795,789 $ 1,656,828 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable (includes $ 2.8 million and $ 3.1 million with related parties at March 31, 2024 and December 31, 2023, respectively) $ 24,402 $ 31,869 Accrued expenses 270,926 292,961 Advanced billings (includes $ 10.9 million and $ 10.1 million with related parties at March 31, 2024 and December 31, 2023, respectively) 616,697 559,860 Other current liabilities 44,620 40,441 Total current liabilities 956,645 925,131 Operating lease liabilities 136,156 142,122 Deferred income tax liability 2,364 2,404 Other long-term liabilities 29,082 28,221 Total liabilities 1,124,247 1,097,878 Commitments and contingencies (see Note 11) Shareholders' equity: Preferred stock - $ 0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2024 and December 31, 2023 — — Common stock - $ 0.01 par-value; 250,000,000 shares authorized at March 31, 2024 and December 31, 2023; 30,983,185 and 30,752,292 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively 310 308 T

Legal Proceedings

Legal Proceedings The Company is involved in legal proceedings from time to time in the ordinary course of its business, including employment claims and claims related to other business transactions. The Company cannot predict with certainty the outcome of such proceedings, but it believes that adequate reserves have been recorded and losses already recognized with respect to such proceedings, which were immaterial as of March 31, 2024 and December 31, 2023. There is a reasonable possibility that a loss exceeding amounts already recognized may be incurred related to these actions; how

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View this 10-Q filing on SEC EDGAR