Medpace Holdings Inc

MEDP: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Medpace Earnings: Elevated Cancellations and Weak Gross Bookings Raise Concerns; Shares Tank 23%

Rachel Elfman

Apr 23, 2026

Medpace reported 26% year-over-year revenue growth to $706 million in the first quarter, but its backlog declined $98 million sequentially to $2.93 billion amid elevated cancellations and weak bookings, driving a net book/bill ratio of only 0.88 versus 1.04 in the fourth quarter.

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Medpace Holdings Inc

Medpace Earnings: Elevated Cancellations and Weak Gross Bookings Raise Concerns; Shares Tank 23%

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