Medpace Holdings, Inc. reported its first quarter 2025 financial results, surpassing analyst expectations on both revenue and earnings per share. The company posted revenue of $558.57 million, exceeding the estimated $527.15 million, representing a year-over-year increase of approximately 3%. Earnings per share reached $3.67, beating the $3.06 consensus estimate and reflecting a rise compared to some analyst projections. Despite these positive results, Medpace experienced an 18.8% decline in net new business awards year-over-year, with new awards totaling $500 million. This decline contributed to a book-to-bill ratio of 0.90x. The company’s backlog stood at $2.85 billion. Following the earnings release, Medpace’s shares declined by about 6.7% in pre-market trading. For the full year 2025, Medpace provided guidance anticipating total revenue between $2.14 billion and $2.24 billion, representing growth of 1.5% to 6.2% over 2024’s $2.11 billion. EBITDA is expected to range from $462 million to $492 million. The results come amid a broader slowdown in biotech funding, though Medpace remains one of the fastest growing clinical research organizations globally.