Medpace Holdings, Inc. · NASDAQ:MEDP

Medpace — William Blair Virtual Annual Growth Stock Conference 2020

16 slides from Medpace's conference presentation, June 2020

  1. Slide 1: Investor Presentation

    INVESTOR PRESENTATION AUGUST J. TROENDLE PRESIDENT & CEO JESSE J. GEIGER C F O & C O O , L A B O R AT O R Y O P E R AT I O N S KEVIN M. BRADY EXECUTIVE DIRECTOR, FINANCE JUNE 2020

  2. Slide 2: Forward-Looking Statements & Non-GAAP Financial Measures

    F O RWA R D L O O K I N G S TAT E M E N T S & NON-GAAP FINANCIAL MEASURES Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this presentation that do not relate to m

  3. Slide 3: The Medpace Way: Scientifically-Driven, Full-Service CRO

    T H E M E D PA C E WAY: SCIENTIFICALLY-DRIVEN, FULL-SERVICE CRO  Disciplined and Integrated Full-Service Operating Model  Full-service approach (avoids functional or partial outsourcing services) delivers timely, efficient, and high- quality results for our customers, enabling us to maintain robus

  4. Slide 4: High-Science Approach with Deep Therapeutic Expertise

    HIGH-SCIENCE APPROACH WITH DEEP THERAPEUTIC EXPERTISE  Entry into, and growth within, target areas hinges 2019 Revenue by Therapeutic Area(3) on team and training built around highly-qualified (1) Other 2019 Revenue physician leads with strong clinical, scientific, and 23% $861.0 million regulatory

  5. Slide 5: Diversified Customer Base

    D I V E R S I F I E D C U S TO M E R B A S E o Focus on customers utilizing a full-service outsourcing model (more prevalent outside top 20 pharma) o These customers often do not have required development expertise and infrastructure in-house o These customers represent an attractive R&D growth segm

  6. Slide 6: Attractive Core Addressable Market

    AT T R A C T I V E C O R E A D D R E S S A B L E M A R K E T Large Pharmaceutical CRO Addressable Market(1)(2) $29 billion Addressable Phase I- Core IV Clinical Addressable Estimated Medpace Small and Development Spend Market(2) Mid-Sized Biopharmaceutical Medpace Core Market Market Share(3) $91 bil

  7. Slide 7: Small and Mid-Sized Biopharmaceutical Focus

    SMALL AND MID-SIZED BIOPHARMACEUTICAL FOCUS Risks Rewards o Funding challenges could result in uncertain o Attractive opportunity for continued timing of award decisions and ultimately growth revenue o Core customer segment firmly at the o Potential bad debt exposure forefront of medical innovation

  8. Slide 8: Global Platform with Scalable Infrastructure

    G L O B A L P L AT F O R M W I T H S C A L A B L E INFRASTRUCTURE o Global, full-service CRO with requisite scale to support large, multi-national studies o Operations in 37 countries, 32 offices in 25 countries(1) Operations Offices Offices with labs or standalone lab (1) As of March 31, 2020. 8 MA

  9. Slide 9: Backlog and New Award Trends

    B A C K L O G A N D N E W AWA R D T R E N D S Net Book-to-Bill Backlog Conversion Rate 1.41x 19.3% 1.27x 1.30x 1.32x 19.0% 1.20x 1.24x 1.22x 18.8% 1.07x 18.7% 18.5% 18.7% 18.3% 18.0% 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Net New Business Awards Ending Backlo

  10. Slide 10: Key Financial Trends

    KEY FINANCIAL TRENDS ($ in millions) ($ in millions) Revenue, net EBITDA(A) $229.9 $230.9 $40.7 $40.2 $41.1 $40.6 $214.1 $216.2 $37.1 $192.1 $200.7 $33.4 $33.4 $34.8 $170.1 $179.3 20.7% 21.2% 19.7% 18.8% 17.9% 17.6% 16.7% 16.1% 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q

  11. Slide 11: Attractive Free Cash Flow Profile

    AT T R A C T I V E F R E E C A S H F L O W P R O F I L E ($ in millions) $100 167% 180% $90 160% $80 140% 124% $70 107% 107% 120% $60 $58 94% $51 100% $50 $43 $44 $40 $41 $41 80% $40 $35 $33 $32 60% $30 $20 40% $10 20% $0 0% 1Q19 2Q19 3Q19 4Q19 1Q20 EBITDA (1) Free Cash Flow (2) FCF Conversion (3) C

  12. Slide 12: Confidence in Future Growth

    CONFIDENCE IN FUTURE GROWTH Small and Mid-Sized Biopharma continues to be a growing and 1 innovative segment of the market 2 We have a good reputation in this segment as a leader in drug development 3 Our full-service approach positions us well to add value to our customers’ programs 12 MAKING THE C

  13. Slide 13: Appendix

    ——=() ——0) ——=©) —=2) D APPENDIX OC O O ——___/fF>

  14. Slide 14: EBITDA Reconciliation

    E B I T D A R E C O N C I L I AT I O N ($ in millions) 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 Net income as reported (GAAP) $ 16.6 $ 19.3 $ 22.8 $ 19.2 $ 27.5 $ 24.0 $ 29.8 $ 29.0 Income tax provision 4.9 6.2 6.6 5.5 7.0 5.5 6.4 7.5 Interest (income) expense, net 2.3 1.9 1.6 1.0 0.7 0.3 (0.4) (0.4)

  15. Slide 15: Free Cash Flow Reconciliation

    F R E E C A S H F L O W R E C O N C I L I AT I O N (S in millions) 1Q19 2Q19 3Q19 4Q19 1Q20 Operating Cash Flow (GAAP) $ 34.0 $ 46.6 $ 64.3 $ 56.9 $ 49.1 Less: CAPEX (2.5) (3.5) (6.2) (5.8) (5.6) Free Cash Flow (non-GAAP) $ 31.5 $ 43.2 $ 58.1 $ 51.2 $ 43.6 EBITDA - (non-GAAP) $ 33.4 $ 40.2 $ 34.8 $

  16. Slide 16: Glossary

    G L O S S A RY 1)Backlog represents anticipated future revenue from net new business awards that have not commenced or are currently in process but not complete. 2)Backlog conversion is defined as Revenue, net, for the quarter divided by beginning backlog. Year-end backlog conversion figures represe

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