Filing Flows › Medpace Holdings (MEDP) › Q1 2026
Medpace Holdings (MEDP) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 23, 2026
Medpace Holdings (MEDP) reported revenue of $707M for the first quarter 2026 (Q1 2026), +27% from a year earlier and -0.3% from the quarter before. Operating margin was 20.0%, net earnings $124M (17.5% of revenue).
Medpace Holdings, Q1 2026: revenue $707M (+26% year over year), operating margin 20.0%, net earnings $124M, operating cash flow $152M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $707M | -0.3% | +27% |
| Operating profit | $142M | -8% | +25% |
| Net earnings | $124M | -8% | +8% |
| Operating cash flow | $152M | -21% | +21% |
| Free cash flow | $145M | -23% | +25% |
What changed
Revenue was $706.6M in Q1 2026, up 27% year over year and roughly flat from the previous quarter. Oncology was the largest line at 34% of revenue. Oncology added $89.5M year over year (up 60%), 60% of the total change. Central Nervous System declined 3%.
Operating profit was $141.5M, a 20.0% margin (down 0.3 points year over year). Of the extra revenue versus Q1 2025, 19% reached operating profit, below the 20% margin then. Total costs grew 27% against revenue growth of 27%. The fastest-growing cost line was Other operating costs (+34%). Net earnings were $123.9M, up 8% year over year. The effective tax rate was 16.1%.
Operating cash flow was $151.8M (up 21% year over year), 123% of net earnings. Non-cash charges added back $6.9M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items added $16.1M. Capital expenditures of $6.8M left free cash flow of $145.0M.
Questions
What was Medpace Holdings' revenue in the first quarter 2026?
Medpace Holdings (MEDP) reported revenue of $707M for the first quarter 2026 (Q1 2026), +27% from a year earlier and -0.3% from the quarter before.
Was Medpace Holdings profitable in the first quarter 2026?
Operating profit was $142M (20.0% of revenue) and net earnings $124M.
Source: Medpace Holdings 10-Q on SEC EDGAR.