Filing Flows › Medpace Holdings (MEDP) › Q2 2025
Medpace Holdings (MEDP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 22, 2025
Medpace Holdings (MEDP) reported revenue of $603M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +8% from the quarter before. Operating margin was 20.9%, net earnings $90.3M (15.0% of revenue).
Medpace Holdings, Q2 2025: revenue $603M (+14% year over year), operating margin 20.9%, net earnings $90.3M, operating cash flow $149M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $603M | +8% | +14% |
| Operating profit | $126M | +11% | +20% |
| Net earnings | $90.3M | -21% | +2% |
| Operating cash flow | $149M | +18% | +28% |
| Free cash flow | $142M | +23% | +38% |
What changed
Revenue was $603.3M in Q2 2025, up 14% year over year and up 8% from the previous quarter. Oncology was the largest line at 31% of revenue. Other added $41.6M year over year (up 39%), 55% of the total change. AVAI declined 26%.
Operating profit was $126.3M, a 20.9% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 28% reached operating profit, above the 20% margin then. Total costs grew 13% against revenue growth of 14%. The fastest-growing cost line was Other operating costs (+13%). Net earnings were $90.3M, up 2% year over year. The effective tax rate was 27.5%.
Operating cash flow was $148.5M (up 28% year over year), 165% of net earnings. Non-cash charges added back $7.0M of depreciation and amortization and $6.0M of share-based compensation. Working capital and other items added $45.3M. Capital expenditures of $6.1M left free cash flow of $142.4M.
Questions
What was Medpace Holdings' revenue in the second quarter 2025?
Medpace Holdings (MEDP) reported revenue of $603M for the second quarter 2025 (Q2 2025), +14% from a year earlier and +8% from the quarter before.
Was Medpace Holdings profitable in the second quarter 2025?
Operating profit was $126M (20.9% of revenue) and net earnings $90.3M.
Source: Medpace Holdings 10-Q on SEC EDGAR.