Contract Research Organization (CRO) / Clinical Development Services
Strategic Profile
Medpace continues to deliver robust double-digit revenue growth, with Q3 2025 revenue up 23.7% year-over-year and strong net new business awards. The company delivered strong Q4 and FY 2025 results, beating revenue and EPS expectations, with 32% YoY revenue growth and 27% YoY EPS growth. The company's new orders soared 49% in the third quarter from a year ago.
Cyborg Score Rationale
Medpace demonstrates exceptional growth momentum with Q4 2025 revenue and EPS growth of 32% and 27% respectively, combined with 49% YoY new order growth. The company benefits from sustained demand in clinical development services and a full-service CRO model across therapeutic areas. However, backlog conversion acceleration and short-term project mix warrant close monitoring.
Top Insights
Accelerating growth trajectory with 32% Q4 2025 revenue growth and 49% YoY new order expansion signals strong market demand
Full-service CRO model spans Phase I-IV clinical development across oncology, cardiology, CNS, metabolic disease and anti-infective therapeutic areas
Global footprint with 6,200+ employees across 46 countries provides competitive scale and geographic diversification
Backlog conversion pace and project mix composition present key execution risks to monitor for sustainability of growth rates
Named Competitors
IQVIA — Largest global CRO with diversified clinical and data solutions
Charles River Laboratories — Integrated drug development and laboratory services CRO
Covance — Full-service CRO with preclinical and clinical capabilities
Recent Developments
(February 2026) Q4 2025 earnings announcement scheduled with analyst expectations for $689.3M revenue and $4.19 non-GAAP EPS
(December 2025) FY 2025 results beat consensus with 32% YoY revenue growth and 27% YoY EPS growth
(October 2025) Q3 2025 delivered 23.7% YoY revenue growth and 49% YoY new orders growth
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