Medpace Holdings Files Q3 2024 10-Q

TL;DR

Medpace Q3 10-Q filed. Financials and ops details out.

AI Summary

Medpace Holdings, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and operational updates for the third quarter and the first nine months of the year. Specific financial figures and operational metrics are provided within the report.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational details for Medpace Holdings, Inc., crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags.

Key Players & Entities

• Medpace Holdings, Inc. (company) — Filer of the 10-Q
• 2024-09-30 (date) — End of the reporting period
• 2024-10-22 (date) — Filing date

FAQ

Key Financial Figures

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

Filing Documents

• medp-20240930.htm (10-Q) — 870KB
• medp-20240930xexx101.htm (EX-10.1) — 141KB
• medp-20240930xexx102.htm (EX-10.2) — 126KB
• medp-20240930xexx311.htm (EX-31.1) — 9KB
• medp-20240930xexx312.htm (EX-31.2) — 9KB
• medp-20240930xexx321.htm (EX-32.1) — 6KB
• medp-20240930xexx322.htm (EX-32.2) — 6KB
• 0001668397-24-000168.txt ( ) — 5473KB
• medp-20240930.xsd (EX-101.SCH) — 41KB
• medp-20240930_cal.xml (EX-101.CAL) — 64KB
• medp-20240930_def.xml (EX-101.DEF) — 172KB
• medp-20240930_lab.xml (EX-101.LAB) — 515KB
• medp-20240930_pre.xml (EX-101.PRE) — 357KB
• medp-20240930_htm.xml (XML) — 623KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 Item 1.

Financial Statements (unaudited)

Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of September 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended September 30, 2024 and 2023 5 Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2024 and 2023 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 September 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 656,900 $ 245,449 Accounts receivable and unbilled, net (includes $ 9.9 million and $ 2.4 million with related parties at September 30, 2024 and December 31, 2023, respectively) 311,466 298,400 Prepaid expenses and other current assets (includes $ 0.3 million with related parties at December 31, 2023) 64,229 49,979 Total current assets 1,032,595 593,828 Property and equipment, net 124,058 120,589 Operating lease right-of-use assets 130,547 144,801 Goodwill 662,396 662,396 Intangible assets, net 34,727 35,809 Deferred income taxes 76,683 74,435 Other assets 23,055 24,970 Total assets $ 2,084,061 $ 1,656,828 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable (includes $ 0.2 million and $ 3.1 million with related parties at September 30, 2024 and December 31, 2023, respectively) $ 26,201 $ 31,869 Accrued expenses 306,868 292,961 Advanced billings (includes $ 12.8 million and $ 10.1 million with related parties at September 30, 2024 and December 31, 2023, respectively) 670,939 559,860 Other current liabilities 37,346 40,441 Total current liabilities 1,041,354 925,131 Operating lease liabilities 128,277 142,122 Deferred income tax liability 2,289 2,404 Other long-term liabilities 30,702 28,221 Total liabilities 1,202,622 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 September 30, 2024 and December 31, 2023 — — Common stock - $ 0.01 par-value; 250,000,000 shares authorized at September 30, 2024 and December 31, 2023; 31,081,601 and 30,752,292 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively

View Full Filing

View this 10-Q filing on SEC EDGAR