Business
Medpace Holdings, Inc. Reports Fourth Quarter and Full Year 2024 Results
Revenue of $536.6 million in the fourth quarter of 2024 increased 7.7% from revenue of $498.4 million for the comparable prior-year period, representing a
About this update from Medpace Holdings, Inc.
[{"type":"text","content":"\n\nRevenue of $536.6 million in the fourth quarter of 2024 increased 7.7% from revenue of $498.4 million for the comparable prior-year period, representing a backlog conversion rate of 18.3%.\n\n\n\nNet new business awards were $529.7 million in the fourth quarter of 2024, representing a decrease of 13.8% from net new business awards of $614.7 million for the comparable prior-year period, which resulted in a net book-to-bill ratio of 0.99x.\n\n\n\nFourth quarter of 2024 GAAP net income was $117.0 million, or $3.67 per diluted share, versus GAAP net income of $78.3 million, or $2.46 per diluted share, for the comparable prior-year period. Net income margin was 21.8% and 15.7% for the fourth quarter of 2024 and 2023, respectively.\n\n\n\nEBITDA was $133.5 million for the fourth quarter of 2024, an increase of 39.3% from EBITDA of $95.8 million for the comparable prior-year period, resulting in an EBITDA margin of 24.9%.\n\n\n\n CINCINNATI--(BUSINESS WIRE)--\nMedpace Holdings, Inc. (Nasdaq: MEDP) (“Medpace”) today announced financial results for the fourth quarter and full year ended December 31, 2024.\n\n\nFourth Quarter 2024 Financial Results\n\n\nRevenue for the three months ended December 31, 2024 increased 7.7% to $536.6 million, compared to $498.4 million for the comparable prior-year period. On a constant currency basis, revenue for the fourth quarter of 2024 increased 7.8% compared to the fourth quarter of 2023.\n\n\nBacklog as of December 31, 2024 increased 3.2% to $2,902.2 million from $2,813.0 million as of December 31, 2023. Net new business awards were $529.7 million, representing a net book-to-bill ratio of 0.99x for the fourth quarter of 2024, as compared to $614.7 million for the comparable prior-year period. The Company calculates the net book-to-bill ratio by dividing net new business awards by revenue.\n\n\nFor the fourth quarter of 2024, total direct costs were $358.3 million, compared to total direct costs of $361.6 million in the fourth quarter of 2023. Selling, general and administrative (SG&A) expenses were $45.4 million in the fourth quarter of 2024, compared to SG&A expenses of $42.5 million in the fourth quarter of 2023.\n\n\nGAAP net income for the fourth quarter of 2024 was $117.0 million, or $3.67 per diluted share, versus GAAP net income of $78.3 million, or $2.46 per diluted share, for the fourth qu...