Medpace Holdings, Inc.: Will The Improved Bookings Environment Last?

Medpace’s financial results for the first quarter of 2023 highlight a mixed scenario, reflecting both the opportunities and challenges inherent in the clinical contract research organization (CRO) industry. The company reported that revenues reached $511 million for the quarter, marking a significant 17.7% increase on a year-over[1]year basis. This positive trajectory can be attributed to healthy demand for Medpace’s clinical research services, as demonstrated by the growth in ending backlog which stood at approximately $2.9 billion—an increase of 18.2% compared to the previous year.