Business
Medpace Holdings, Inc. Reports Second Quarter 2022 Results
Revenue of $351.2 million in the second quarter of 2022 increased 26.2% from revenue of $278.3 million for the comparable prior-year period, representing a
About this update from Medpace Holdings, Inc.
[{"type":"text","content":"\n\nRevenue of $351.2 million in the second quarter of 2022 increased 26.2% from revenue of $278.3 million for the comparable prior-year period, representing a backlog conversion rate of 16.8%.\n\n\nNet new business awards were $450.6 million in the second quarter of 2022, representing an increase of 16.3% from net new business awards of $387.6 million for the comparable prior-year period, which resulted in a net book-to-bill ratio of 1.28x.\n\n\nSecond quarter of 2022 GAAP net income was $49.4 million, or $1.46 per diluted share, versus GAAP net income of $39.9 million, or $1.06 per diluted share, for the comparable prior-year period. Net income margin was 14.1% and 14.3% for the second quarter of 2022 and 2021, respectively.\n\n\nEBITDA was $68.1 million for the second quarter of 2022, an increase of 42.0% from EBITDA of $47.9 million for the comparable prior-year period, resulting in an EBITDA margin of 19.4%.\n\n\n CINCINNATI--(BUSINESS WIRE)--\nMedpace Holdings, Inc. (Nasdaq: MEDP) (“Medpace”) today announced financial results for the second quarter ended June 30, 2022.\n\nSecond Quarter 2022 Financial Results\n\nRevenue for the three months ended June 30, 2022 increased 26.2% to $351.2 million, compared to $278.3 million for the comparable prior-year period. On a constant currency organic basis, revenue for the second quarter of 2022 increased 27.7% compared to the second quarter of 2021.\n\nBacklog as of June 30, 2022 grew 24.4% to $2.2 billion from $1.7 billion as of June 30, 2021. Net new business awards were $450.6 million, representing a net book-to-bill ratio of 1.28x for the second quarter of 2022, as compared to $387.6 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\nFor the second quarter of 2022, total direct costs were $252.2 million, compared to total direct costs of $203.6 million in the second quarter of 2021. Selling, general and administrative (SG&A) expenses were $33.2 million in the second quarter of 2022, compared to SG&A expenses of $27.0 million in the second quarter of 2021.\n\nGAAP net income for the second quarter of 2022 was $49.4 million, or $1.46 per diluted share, versus GAAP net income of $39.9 million, or $1.06 per diluted share, for the second quarter of 2021. This resulted in a net income margin...