Medpace Holdings (MEDP) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Medpace Holdings published the results on October 21, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Medpace reports one segment. The rows above are its revenue by therapeutic area from the 10-Q; AVAI is anti-viral and anti-infective.
• Medpace reports GAAP EPS only. Its non-GAAP measures are EBITDA and EBITDA margin.

Source: Medpace Q3 2026 results, October 21, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Medpace Holdings splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Medpace Holdings's Oncology revenue was $230 million in Q3 2026, up 19% from $193 million in Q3 2025, 32% of total revenue.
• Medpace Holdings's Metabolic revenue was $209 million in Q3 2026, up 5% from $199 million in Q3 2025, 29% of total revenue.
• Medpace Holdings's Central Nervous System revenue was $83.6 million in Q3 2026, up 27% from $65.6 million in Q3 2025, 12% of total revenue.
• Medpace Holdings's Cardiology revenue was $61.4 million in Q3 2026, up 3% from $59.5 million in Q3 2025, 9% of total revenue.
• Medpace Holdings's AVAI revenue was $31.8 million in Q3 2026, down 13% from $36.5 million in Q3 2025, 4% of total revenue.
• Medpace Holdings's Other revenue was $100.0 million in Q3 2026, down 6% from $106 million in Q3 2025, 14% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q3 2026 release, Medpace Holdings said:

“The Company forecasts 2026 revenue in the range of $2.835 billion to $2.855 billion, representing growth of 12.0% to 12.8% over 2025 revenue of $2.530 billion.”

“GAAP net income for full year 2026 is forecasted in the range of $514.0 million to $524.0 million.”

“Additionally, full year 2026 EBITDA is expected in the range of $638.0 million to $652.0 million.”

“This guidance assumes a full year 2026 tax rate of 19.0% to 19.5%, interest income of $22.9 million, foreign exchange rates as of September 30, 2026, and 28.6 million diluted weighted average shares outstanding.”

Source: Medpace Q3 2026 release, Oct 21, 2026.

This is the company's own guidance as of Oct 21, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the MEDP forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue, net in millions and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Medpace Holdings's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 21, 2026

Medpace's Q3 2026 revenue was $716.0 million, up 8.5% from $659.9 million, and up 8.6% on a constant currency basis. Medpace is a clinical contract research organization running Phase I-IV trials for biotechnology, pharmaceutical and medical device companies, and it reports a single segment. (Medpace Q3 2026 release, Oct 21, 2026)

By therapeutic area, Oncology was the largest at $229.9 million, followed by Metabolic at $209.2 million, Central Nervous System at $83.6 million and Cardiology at $61.4 million. Medpace said the $56.1 million increase in total revenue was driven mainly by growth in Metabolic, Oncology and Central Nervous System. AVAI (anti-viral and anti-infective) fell to $31.8 million from $36.5 million. (Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

Medpace splits its direct costs in two: reimbursed out-of-pocket expenses were $287.3 million in the quarter, against $204.9 million of direct service costs. Medpace notes that reimbursed out-of-pocket expenses can fluctuate significantly from period to period based on the timing of program initiation and closeout; they rose $10.6 million from a year earlier. (Medpace Q3 2026 release, Oct 21, 2026; Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

Medpace describes itself as a partner of choice for small and mid-sized biopharmaceutical companies. Revenue from CinRx, a biotech company in which Medpace employees including the chief executive officer hold equity or board seats, was $2.3 million in the quarter, down from $10.4 million a year earlier. (Medpace Form 10-K, 2025, Feb 10, 2026; Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

Medpace's GAAP diluted EPS was $4.84 in Q3 2026, up from $3.86, on net income of $137.5 million. It reports no adjusted EPS. Income from operations rose to $165.5 million from $141.8 million, and interest income, net rose to $5.3 million from $1.5 million. (Medpace Q3 2026 release, Oct 21, 2026)

Medpace's effective income tax rate was 19.6% in the quarter, down from 22.2% a year earlier, with state taxes partly offset by excess tax benefits from share-based compensation and benefits related to Foreign Derived Deduction Eligible Income. (Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

Buybacks have shrunk the share count. Diluted weighted average shares were 28,372 thousand in Q3 2026, against 28,817 thousand a year earlier. Medpace made no repurchases in the quarter but bought back 705,616 shares for $294.7 million in the first nine months of 2026. On October 20, 2026 its board replaced the remaining $527.0 million authorization with a new one of up to $1.0 billion running until December 31, 2028. (Medpace Q3 2026 release, Oct 21, 2026; Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Medpace gives full-year guidance in its release. For 2026 it forecasts revenue of $2.835 billion to $2.855 billion, growth of 12.0% to 12.8% over 2025, GAAP net income of $514.0 million to $524.0 million, diluted EPS of $17.97 to $18.32 and EBITDA of $638.0 million to $652.0 million. The guidance assumes a tax rate of 19.0% to 19.5% and 28.6 million diluted shares, and excludes any repurchases made after September 30, 2026. (Medpace Q3 2026 release, Oct 21, 2026)

Medpace's backlog points to the next year of revenue: of the $3,167.2 million backlog at September 30, 2026, it expects approximately $1,980.0 million to $2,000.0 million to convert to net revenue over the next twelve months. (Medpace Form 10-Q, Q3 2026, Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover Medpace Holdings, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Medpace Holdings's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning MEDP is on is MEDP a buy or a sell?, what analysts expect next is on the MEDP forecast, and what the company does is on the Medpace Holdings (MEDP) stock page.

Every number on this page can be traced to a document Medpace Holdings published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.