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10-Q Filing

MEDPACE HOLDINGS, INC. CIK: 1668397 Q1 2018
Filing Information
Form Type 10-Q
Accession Number 0001564590-18-010013
Period End Date 20180331
Filing Date 20180501
Fiscal Year 2018
Fiscal Period Q1
XBRL Instance medp-20180331.xml
Filing Contents
Balance Sheet 89 line items
Line Item Tag Value Unit Period
Accounts receivable, unbilled services with related parties AccountsReceivableAndUnbilledRelatedPartiesCurrent $1.00M USD Point-in-time
Accounts receivable, unbilled services with related parties AccountsReceivableAndUnbilledRelatedPartiesCurrent $1.30M USD Point-in-time
Pre-funded study costs with related parties PreFundedStudyCostsWithRelatedParties $1.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $22.25M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $26.48M USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $7.00K USD Point-in-time
Advanced billings with related parties DeferredRevenueCurrentWithRelatedParties $300.00K USD Point-in-time
Restricted cash RestrictedCashAndCashEquivalentsAtCarryingValue $7.00K USD Point-in-time
Advanced billings with related parties DeferredRevenueCurrentWithRelatedParties $1.70M USD Point-in-time
Accounts receivable and unbilled, net (includes $1.3 million and $1.0 million with related parties at March 31, 2018 and December 31, 2017, respectively) ReceivablesNetCurrent $110.65M USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Accounts receivable and unbilled, net (includes $1.3 million and $1.0 million with related parties at March 31, 2018 and December 31, 2017, respectively) ReceivablesNetCurrent $83.08M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $20.85M USD Point-in-time
Preferred stock shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock shares authorized PreferredStockSharesAuthorized 5.00M shares Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $20.40M USD Point-in-time
Total current assets AssetsCurrent $153.75M USD Point-in-time
Total current assets AssetsCurrent $129.97M USD Point-in-time
Preferred stock shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock shares issued PreferredStockSharesIssued 0.00 shares Point-in-time
Preferred stock shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $51.08M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $48.74M USD Point-in-time
Preferred stock shares outstanding PreferredStockSharesOutstanding 0.00 shares Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Goodwill Goodwill $660.98M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Goodwill Goodwill $660.98M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $91.35M USD Point-in-time
Intangible assets, net IntangibleAssetsNetExcludingGoodwill $98.74M USD Point-in-time
Common stock shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Common stock shares authorized CommonStockSharesAuthorized 250.00M shares Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $6.34M USD Point-in-time
Common stock shares issued CommonStockSharesIssued 35.50M shares Point-in-time
Deferred income taxes DeferredTaxAssetsLiabilitiesNetNoncurrent $9.97M USD Point-in-time
Common stock shares issued CommonStockSharesIssued 35.47M shares Point-in-time
Common stock shares outstanding CommonStockSharesOutstanding 35.47M shares Point-in-time
Common stock shares outstanding CommonStockSharesOutstanding 35.50M shares Point-in-time
Other assets OtherAssetsNoncurrent $5.94M USD Point-in-time
Other assets OtherAssetsNoncurrent $5.89M USD Point-in-time
Total assets Assets $950.72M USD Point-in-time
Treasury stock shares TreasuryStockShares 200,000.00 shares Point-in-time
Treasury stock shares TreasuryStockShares 200,000.00 shares Point-in-time
Total assets Assets $973.02M USD Point-in-time
Accounts payable AccountsPayableCurrent $16.67M USD Point-in-time
Accounts payable AccountsPayableCurrent $17.92M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $63.58M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $23.67M USD Point-in-time
Pre-funded study costs (includes $1.0 million with related parties at December 31, 2017) PreFundedStudyCosts - USD Point-in-time
Pre-funded study costs (includes $1.0 million with related parties at December 31, 2017) PreFundedStudyCosts $57.41M USD Point-in-time
Advanced billings (includes $0.3 million and $1.7 million with related parties at March 31, 2018 and December 31, 2017, respectively) DeferredRevenueCurrent $126.39M USD Point-in-time
Advanced billings (includes $0.3 million and $1.7 million with related parties at March 31, 2018 and December 31, 2017, respectively) DeferredRevenueCurrent $73.76M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $16.50M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $16.50M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $8.11M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $4.70M USD Point-in-time
Total current liabilities LiabilitiesCurrent $192.71M USD Point-in-time
Total current liabilities LiabilitiesCurrent $232.49M USD Point-in-time
Long-term debt, net, less current portion LongTermDebtNoncurrent $181.07M USD Point-in-time
Long-term debt, net, less current portion LongTermDebtNoncurrent $205.11M USD Point-in-time
Deemed landlord liability, less current portion CapitalLeaseObligationsNoncurrent $26.60M USD Point-in-time
Deemed landlord liability, less current portion CapitalLeaseObligationsNoncurrent $26.09M USD Point-in-time
Deferred income tax liability DeferredTaxLiabilitiesNoncurrent $560.00K USD Point-in-time
Deferred income tax liability DeferredTaxLiabilitiesNoncurrent $596.00K USD Point-in-time
Deferred credit DeferredRevenueAndCreditsNoncurrent $11.27M USD Point-in-time
Deferred credit DeferredRevenueAndCreditsNoncurrent $11.47M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $10.74M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $10.44M USD Point-in-time
Total liabilities Liabilities $461.95M USD Point-in-time
Total liabilities Liabilities $447.19M USD Point-in-time
Commitments and contingencies (see Note 11) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (see Note 11) CommitmentsAndContingencies - USD Point-in-time
Preferred stock - $0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively PreferredStockValue - USD Point-in-time
Preferred stock - $0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively PreferredStockValue - USD Point-in-time
Common stock - $0.01 par-value; 250,000,000 shares authorized at March 31, 2018 and December 31, 2017, respectively; 35,504,675 and 35,466,510 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively CommonStockValue $355.00K USD Point-in-time
Common stock - $0.01 par-value; 250,000,000 shares authorized at March 31, 2018 and December 31, 2017, respectively; 35,504,675 and 35,466,510 shares issued and outstanding at March 31, 2018 and December 31, 2017, respectively CommonStockValue $355.00K USD Point-in-time
Treasury stock - 200,000 shares at March 31, 2018 and December 31, 2017 TreasuryStockValue $6.03M USD Point-in-time
Treasury stock - 200,000 shares at March 31, 2018 and December 31, 2017 TreasuryStockValue $6.03M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $630.34M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $632.37M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-115.52M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-120.40M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-105.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-734.00K USD Point-in-time
Total shareholders equity StockholdersEquity $511.07M USD Point-in-time
Total shareholders equity StockholdersEquity $503.53M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $973.02M USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $950.72M USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Revenue, net (includes $1.5 million with related parties for the three months ended March 31, 2018) Revenues $163.08M USD 1 Quarter
Revenue, net (includes $1.5 million with related parties for the three months ended March 31, 2018) Revenues - USD 1 Quarter
Service revenue, net (includes $4.0 million with related parties for the three months ended March 31, 2017) SalesRevenueServicesNet $93.78M USD 1 Quarter
Service revenue, net (includes $4.0 million with related parties for the three months ended March 31, 2017) SalesRevenueServicesNet - USD 1 Quarter
Reimbursed out-of-pocket revenue (includes $0.7 million with related parties for the three months ended March 31, 2017) ReimbursementRevenue $12.83M USD 1 Quarter
Reimbursed out-of-pocket revenue (includes $0.7 million with related parties for the three months ended March 31, 2017) ReimbursementRevenue - USD 1 Quarter
Total revenue SalesRevenueNet $106.61M USD 1 Quarter
Total revenue SalesRevenueNet $163.08M USD 1 Quarter
Direct service costs, excluding depreciation and amortization CostOfServicesExcludingDepreciationDepletionAndAmortization $51.10M USD 1 Quarter
Direct service costs, excluding depreciation and amortization CostOfServicesExcludingDepreciationDepletionAndAmortization $60.34M USD 1 Quarter
Reimbursed out-of-pocket revenue with related parties ReimbursedOutOfPocketRevenueWithRelatedParties - USD 1 Quarter
Reimbursed out-of-pocket revenue with related parties ReimbursedOutOfPocketRevenueWithRelatedParties $700.00K USD 1 Quarter
Reimbursed out-of-pocket expenses CostOfReimbursableExpense $56.91M USD 1 Quarter
Reimbursed out-of-pocket expenses CostOfReimbursableExpense $12.83M USD 1 Quarter
Total direct costs DirectOperatingCosts $117.25M USD 1 Quarter
Total direct costs DirectOperatingCosts $63.94M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $15.15M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $16.00M USD 1 Quarter
Depreciation Depreciation $2.31M USD 1 Quarter
Depreciation Depreciation $2.13M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $9.45M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $7.39M USD 1 Quarter
Total operating expenses CostsAndExpenses $90.67M USD 1 Quarter
Total operating expenses CostsAndExpenses $142.96M USD 1 Quarter
Income from operations OperatingIncomeLoss $20.12M USD 1 Quarter
Income from operations OperatingIncomeLoss $15.94M USD 1 Quarter
Miscellaneous expense, net OtherNonoperatingIncomeExpense $-153.00K USD 1 Quarter
Miscellaneous expense, net OtherNonoperatingIncomeExpense $-372.00K USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-1.79M USD 1 Quarter
Interest expense, net InterestIncomeExpenseNonoperatingNet $-2.31M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-2.17M USD 1 Quarter
Total other expense, net NonoperatingIncomeExpense $-2.46M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $13.78M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $17.66M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $5.33M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $3.11M USD 1 Quarter
Net income NetIncomeLoss $14.55M USD 1 Quarter
Net income NetIncomeLoss $8.45M USD 1 Quarter
Basic EarningsPerShareBasic $0.41 USD 1 Quarter
Basic EarningsPerShareBasic $0.21 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.20 USD 1 Quarter
Diluted EarningsPerShareDiluted $0.40 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 40.67M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 35.49M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 41.51M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 36.45M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $14.55M USD 1 Quarter
Net income NetIncomeLoss $8.45M USD 1 Quarter
Depreciation Depreciation $2.31M USD 1 Quarter
Depreciation Depreciation $2.13M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $9.45M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $7.39M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.03M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $1.47M USD 1 Quarter
Amortization of debt issuance costs and discount AmortizationOfFinancingCostsAndDiscounts $159.00K USD 1 Quarter
Amortization of debt issuance costs and discount AmortizationOfFinancingCostsAndDiscounts $165.00K USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-248.00K USD 1 Quarter
Deferred income tax benefit DeferredIncomeTaxExpenseBenefit $-410.00K USD 1 Quarter
Amortization and adjustment of deferred credit AmortizationAndAdjustmentOfDeferredCredit - USD 1 Quarter
Amortization and adjustment of deferred credit AmortizationAndAdjustmentOfDeferredCredit $203.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $252.00K USD 1 Quarter
Other OtherNoncashIncomeExpense $32.00K USD 1 Quarter
Accounts receivable and unbilled, net IncreaseDecreaseInReceivables $17.76M USD 1 Quarter
Accounts receivable and unbilled, net IncreaseDecreaseInReceivables $2.29M USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $247.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $214.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-1.33M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $699.00K USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $5.27M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $-10.51M USD 1 Quarter
Pre-funded study costs IncreaseDecreaseInPreFundedStudyCosts - USD 1 Quarter
Pre-funded study costs IncreaseDecreaseInPreFundedStudyCosts $-3.50M USD 1 Quarter
Advanced billings IncreaseDecreaseInDeferredRevenue $6.82M USD 1 Quarter
Advanced billings IncreaseDecreaseInDeferredRevenue $-5.25M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-3.09M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $-1.88M USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-675.00K USD 1 Quarter
Net cash provided by (used in) operating activities NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $23.30M USD 1 Quarter
Property and equipment expenditures PaymentsToAcquirePropertyPlantAndEquipment $3.95M USD 1 Quarter
Property and equipment expenditures PaymentsToAcquirePropertyPlantAndEquipment $4.37M USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-23.00K USD 1 Quarter
Other PaymentsForProceedsFromOtherInvestingActivities $-16.00K USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-4.36M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-3.93M USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $566.00K USD 1 Quarter
Proceeds from stock option exercises ProceedsFromStockOptionsExercised $193.00K USD 1 Quarter
Payment of debt RepaymentsOfDebt $3.09M USD 1 Quarter
Payment of debt RepaymentsOfDebt $4.12M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit $20.00M USD 1 Quarter
Payments on revolving loan RepaymentsOfLinesOfCredit - USD 1 Quarter
Payment of deemed landlord liability RepaymentsOfLongTermCapitalLeaseObligations $451.00K USD 1 Quarter
Payment of deemed landlord liability RepaymentsOfLongTermCapitalLeaseObligations $404.00K USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-24.01M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-3.31M USD 1 Quarter
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $400.00K USD 1 Quarter
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $540.00K USD 1 Quarter
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-4.24M USD 1 Quarter
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-7.80M USD 1 Quarter
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $37.41M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.25M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.49M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.61M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $37.41M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $22.25M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $26.49M USD Point-in-time
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $29.61M USD Point-in-time
Comprehensive Income 6 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $14.55M USD 1 Quarter
Net income NetIncomeLoss $8.45M USD 1 Quarter
Foreign currency translation adjustments, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $629.00K USD 1 Quarter
Foreign currency translation adjustments, net of taxes OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $596.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $15.18M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $9.04M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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