Medpace Board Approves $1 Billion Stock Repurchase Authorization

Medpace Holdings Inc. posted $716.0 million in revenue for the third quarter ended Sept. 30, an 8.5% increase from a year earlier. The board also approved an authorization for up to $1 billion in stock repurchases.

Net income was $137.5 million, and GAAP diluted EPS was $4.84. In the same quarter of 2025, net income was $111.1 million, or $3.86 per diluted share. Medpace released the results at 8:15 p.m. ET Oct. 21 (00:15 UTC Oct. 22).

Revenue in the year-earlier quarter totaled $659.9 million. The latest reported growth rate was 8.5%, compared with 8.6% on a constant-currency basis. EBITDA, a non-GAAP measure, reached $172.1 million, up 16% from a year earlier; EBITDA margin was 24.0%.

Net new business awards totaled $873.4 million, 10.6% above the year-earlier level. Backlog stood at $3,167.2 million as of Sept. 30, up 5.6% from a year earlier. The award and backlog figures accompanied the company’s revenue and earnings results for the quarter.

For full-year 2026, Medpace forecast revenue of $2.835 billion to $2.855 billion. Its outlook also included GAAP net income of $514 million to $524 million and GAAP diluted EPS of $17.97 to $18.32.

Cash and cash equivalents totaled $705.3 million at quarter-end, while operating cash flow was $216.6 million for the quarter. Medpace made no share repurchases during the period. The new authorization is discretionary, sets no minimum purchase amount and permits repurchases through Dec. 31, 2028.

Based in Cincinnati, Medpace provides clinical development services to biotechnology, pharmaceutical and medical-device companies. It had approximately 6,600 employees across 46 countries as of Sept. 30. The repurchase authorization remains in effect through the end of 2028.