Medpace Holdings Inc. Files 2Q 2024 10-Q

TL;DR

Medpace 10-Q filed: Q2 2024 financials out. Check financials.

AI Summary

Medpace Holdings, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details financial performance and operational updates for the second quarter. Key financial metrics and disclosures related to its business operations are provided.

Why It Matters

This filing provides investors with a detailed look at Medpace's financial health and operational performance during the second quarter of 2024, influencing investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing (10-Q) and does not contain immediate, high-impact news.

Key Players & Entities

• Medpace Holdings, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — Period of report for the 10-Q
• 20240723 (date) — Filing date of the 10-Q
• 5375 MEDPACE WAY (address) — Business and mailing address
• CINCINNATI (location) — City for business and mailing address
• OH (location) — State for business and mailing address
• 45227 (zip_code) — ZIP code for business and mailing address
• (513) 579-9911 (phone_number) — Business phone number

FAQ

Key Financial Figures

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

Filing Documents

• medp-20240630.htm (10-Q) — 845KB
• medp-20240630xexx311.htm (EX-31.1) — 9KB
• medp-20240630xexx312.htm (EX-31.2) — 9KB
• medp-20240630xexx321.htm (EX-32.1) — 6KB
• medp-20240630xexx322.htm (EX-32.2) — 6KB
• 0001668397-24-000143.txt ( ) — 5096KB
• medp-20240630.xsd (EX-101.SCH) — 41KB
• medp-20240630_cal.xml (EX-101.CAL) — 64KB
• medp-20240630_def.xml (EX-101.DEF) — 168KB
• medp-20240630_lab.xml (EX-101.LAB) — 513KB
• medp-20240630_pre.xml (EX-101.PRE) — 350KB
• medp-20240630_htm.xml (XML) — 620KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 202 4 and December 31, 202 3 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 202 4 and 202 3 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 202 4 and 202 3 5 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 202 4 and 202 3 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 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 25 Item 4.

Controls and Procedures

Controls and Procedures 25

— OTHER INFORMATION

PART II — OTHER INFORMATION 26 Item 1.

Legal Proceedings

Legal Proceedings 26 Item 1A.

Risk Factors

Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 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 June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 510,894 $ 245,449 Accounts receivable and unbilled, net (includes $ 2.7 million and $ 2.4 million with related parties at June 30, 2024 and December 31, 2023, respectively) 301,108 298,400 Prepaid expenses and other current assets (includes $ 0.3 million with related parties at June 30, 2024 and December 31, 2023) 60,521 49,979 Total current assets 872,523 593,828 Property and equipment, net 122,394 120,589 Operating lease right-of-use assets 134,001 144,801 Goodwill 662,396 662,396 Intangible assets, net 35,087 35,809 Deferred income taxes 75,196 74,435 Other assets 18,451 24,970 Total assets $ 1,920,048 $ 1,656,828 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable (includes $ 0.4 million and $ 3.1 million with related parties at June 30, 2024 and December 31, 2023, respectively) $ 27,388 $ 31,869 Accrued expenses 292,659 292,961 Advanced billings (includes $ 10.8 million and $ 10.1 million with related parties at June 30, 2024 and December 31, 2023, respectively) 638,417 559,860 Other current liabilities 34,624 40,441 Total current liabilities 993,088 925,131 Operating lease liabilities 131,796 142,122 Deferred income tax liability 2,294 2,404 Other long-term liabilities 29,271 28,221 Total liabilities 1,156,449 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 June 30, 2024 and December 31, 2023 — — Common stock - $ 0.01 par-value; 250,000,000 shares authorized at June 30, 2024 and December 31, 2023; 31,001,549 and 30,752,292 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 310 308 Treasury s

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View this 10-Q filing on SEC EDGAR