View Filing Data

Print Document View Excel Document

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2017	Apr. 30, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Trading Symbol	MEDP
Entity Registrant Name	Medpace Holdings, Inc.
Entity Central Index Key	0001668397
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		40,745,840

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 29,316	$ 37,099
Restricted cash	293	308
Accounts receivable and unbilled, net (includes $1.7 million and $2.3 million with related parties at March 31, 2017 and December 31, 2016, respectively)	82,283	79,767
Prepaid expenses and other current assets	16,433	16,074
Total current assets	128,325	133,248
Property and equipment, net	44,976	43,805
Goodwill	660,981	660,981
Intangible assets, net	126,623	136,071
Deferred income taxes	154	97
Other assets	5,034	4,903
Total assets	966,093	979,105
Current liabilities:
Accounts payable	8,345	10,911
Accrued expenses	14,083	24,417
Pre-funded study costs (includes $3.9 million and $3.9 million with related parties at March 31, 2017 and December 31, 2016, respectively)	48,473	51,948
Advanced billings (includes $5.7 million and $7.6 million with related parties at March 31, 2017 and December 31, 2016, respectively)	60,474	65,668
Current portion of long-term debt	13,406	12,375
Other current liabilities	5,264	3,284
Total current liabilities	150,045	168,603
Long-term debt, net, less current portion	147,230	151,267
Deemed landlord liability, less current portion	28,063	28,527
Deferred income tax liability	11,683	12,030
Other long-term liabilities	8,092	7,968
Total liabilities	345,113	368,395
Commitments and contingencies (see Note 10)
Shareholders’ equity:
Preferred stock - $0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively
Common stock - $0.01 par-value; 250,000,000 shares authorized at March 31, 2017 and December 31, 2016, respectively; 40,675,553 and 40,662,856 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively	407	407
Additional paid-in capital	625,296	623,629
Accumulated deficit	(1,577)	(9,584)
Accumulated other comprehensive loss	(3,146)	(3,742)
Total shareholders’ equity	620,980	610,710
Total liabilities and shareholders’ equity	$ 966,093	$ 979,105

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Accounts receivable, Unbilled services with related parties	$ 1.7	$ 2.3
Pre-funded study costs with related parties	3.9	3.9
Advanced billings with related parties	$ 5.7	$ 7.6
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock shares authorized	5,000,000	5,000,000
Preferred stock shares issued	0	0
Preferred stock shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock shares authorized	250,000,000	250,000,000
Common stock shares issued	40,675,553	40,662,856
Common stock shares outstanding	40,675,553	40,662,856

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue:
Service revenue, net (includes $4.0 million and $7.8 million with related parties for the three months ended March 31, 2017 and 2016, respectively)	$ 93,781	$ 87,800
Reimbursed out-of-pocket revenue (includes $0.7 million and $1.2 million with related parties for the three months ended March 31, 2017 and 2016, respectively)	12,830	11,786
Total revenue	106,611	99,586
Operating expenses:
Direct costs, excluding depreciation and amortization	51,105	46,981
Reimbursed out-of-pocket expenses (includes $0.7 million and $1.2 million with related parties for the three months ended March 31, 2017 and 2016, respectively)	12,830	11,786
Selling, general and administrative	15,154	13,509
Depreciation	2,130	1,773
Amortization	9,448	12,668
Total operating expenses	90,667	86,717
Income from operations	15,944	12,869
Other expense, net:
Miscellaneous expense, net	(372)	(935)
Interest expense, net	(1,794)	(5,973)
Total other expense, net	(2,166)	(6,908)
Income before income taxes	13,778	5,961
Income tax provision	5,331	2,513
Net income	$ 8,447	$ 3,448
Net income per share attributable to common shareholders:
Basic	$ 0.21	$ 0.11
Diluted	$ 0.20	$ 0.11
Weighted average common shares outstanding:
Basic	40,669	32,625
Diluted	41,508	32,625

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Service revenue with related parties	$ 4.0	$ 7.8
Reimbursed out-of-pocket revenue with related parties	0.7	1.2
Reimbursed out-of-pocket expenses with related parties	$ 0.7	$ 1.2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 8,447	$ 3,448
Other comprehensive income
Foreign currency translation adjustments, net of taxes	596	572
Comprehensive income	$ 9,043	$ 4,020

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 8,447	$ 3,448
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	2,130	1,773
Amortization	9,448	12,668
Stock-based compensation expense	1,034	1,009
Amortization of debt issuance costs and discount	165	672
Deferred income tax benefit	(410)	(310)
Other	(252)	46
Changes in assets and liabilities:
Accounts receivable and unbilled, net	(2,292)	(9,927)
Prepaid expenses and other current assets	(247)	(1,264)
Accounts payable	(1,331)	(2,027)
Accrued expenses	(10,508)	(5,004)
Pre-funded study costs	(3,497)	1,305
Advanced billings	(5,246)	9,669
Other assets and liabilities, net	1,884	567
Net cash (used in) provided by operating activities	(675)	12,625
CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment expenditures	(4,374)	(3,456)
Other	16	32
Net cash used in investing activities	(4,358)	(3,424)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercises	193	7
Payment of debt	(3,094)	(18)
Payment of deemed landlord liability	(404)	(369)
Net cash used in financing activities	(3,305)	(380)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	540	384
(DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(7,798)	9,205
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	37,407	17,737
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	$ 29,609	$ 26,942

Basis of Presentation

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation

(1) Basis of Presentation

Description of Business

Medpace Holdings, Inc. together with its subsidiaries, (“Medpace” or the “Company”), a Delaware corporation, is a global provider of clinical research-based drug and medical device development services. The Company partners with pharmaceutical, biotechnology, and medical device companies in the development and execution of clinical trials. The Company’s drug development services focus on full service Phase I-IV clinical development services and include development plan design, coordinated central laboratory, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, and post-marketing clinical support. The Company also provides bio-analytical laboratory services, clinical human pharmacology, imaging services, and electrocardiography reading support for clinical trials.

The Company’s operations are principally based in North America, Europe, and Asia.

Unaudited Interim Financial Information

The interim condensed consolidated financial statements include the accounts of the Company, are prepared in conformity with U.S. generally accepted accounting principles (“GAAP”), and are unaudited. In the opinion of the Company’s management, all adjustments of a normal recurring nature necessary for a fair presentation have been reflected. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. The preparation of the interim condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the interim condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results and outcomes could differ from management’s estimates and assumptions. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016.

Stock Split

On July 25, 2016, the Board of Directors (the “Board”) of the Company approved, and made legally effective, a 1-for-1.35 reverse stock split of the Company’s common stock. All share, stock option and per share information presented in the condensed consolidated financial statements have been adjusted to reflect the reverse stock split on a retroactive basis for all periods presented. There was no change in the par value of the Company’s common stock.

Recently Adopted Accounting Standards

In November 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update (“ASU”) 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. The new guidance is intended to reduce diversity in practice by requiring the statement of cash flows to explain the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash and restricted cash equivalents. ASU 2016-18 is effective for fiscal years beginning after December 15, 2017, and for interim periods within those fiscal years. The Company, as permitted, early adopted ASU 2016-18 in the fourth quarter of 2016. As a result of this adoption, cash flows resulting from changes in restricted cash balances, are no longer presented as a component of net cash provided by operating activities in the Company’s condensed consolidated statements of cash flows, but have been reclassified and combined within Increases/(Decreases) in Cash and Cash Equivalents and Restricted Cash. This reclassification was retrospectively applied to all periods presented within the condensed consolidated statements of cash flows.

In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. The new guidance is intended to simplify certain aspects of accounting for share based payments to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company elected to adopt this ASU in the first quarter of 2017 as required. The following summarizes the effects of the adoption on the Company's condensed consolidated financial statements:

•

Income taxes - Upon adoption of this standard, all excess tax benefits and tax deficiencies (including tax benefits of dividends, if distributed, on share-based payment awards) are recognized as income tax expense or benefit in the statement of operations. The tax effects of exercised or vested awards are treated as discrete items in the reporting period in which they occur. As a result, the Company recognized discrete adjustments to income tax expense for the three months ended March 31, 2017 of less than $0.1 million related to excess tax benefits. The Company also recognizes excess tax benefits regardless of whether the benefit reduces taxes payable in the current period. The Company applied the prospective adoption approach for any unrecognized excess tax benefits beginning in 2017, which did not result in any cumulative-effect adjustment upon adoption. Prior periods have not been adjusted.

•

Forfeitures - Prior to adoption, share-based compensation expense was recognized on a straight line basis, net of estimated forfeitures, such that expense was recognized only for share-based awards that were expected to vest. A forfeiture rate was estimated annually and revised, if necessary, in subsequent periods if actual forfeitures differed from initial estimates. Upon adoption, the Company no longer applies a forfeiture rate and instead accounts for forfeitures as they occur. The Company applied the modified retrospective adoption approach beginning in 2017 and booked an immaterial cumulative-effect adjustment to additional paid-in-capital and retained earnings within Shareholders’ Equity. Prior periods have not been adjusted.

•

Statements of Cash Flows - The Company historically accounted for excess tax benefits on the Statement of Cash Flows as a financing activity. Upon adoption of this standard, excess tax benefits are classified along with other income tax cash flows as an operating activity. The Company elected to adopt this portion of the standard on a prospective basis beginning in 2017. Prior periods have not been adjusted.

•

Earnings Per Share - The Company uses the treasury stock method to compute diluted earnings per share, unless the effect would be anti-dilutive. Under this method, the Company is no longer required to estimate the tax rate and apply it to the dilutive share calculation for determining the dilutive earnings per share. The Company utilized the prospective adoption approach and applied this methodology beginning in 2017. Prior periods have not been adjusted.

Upon adoption, no other aspects of ASU 2016-09 had an effect on the Company's condensed consolidated financial statements or related footnote disclosures.

Recently Issued Accounting Standards

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The guidance in ASU 2016-02 supersedes the lease recognition requirements in ASC Topic 840, Leases (FAS 13). ASU 2016-02 requires an entity to recognize assets and liabilities arising from a lease for both financing and operating leases, along with additional qualitative and quantitative disclosures. ASU 2016-02 will be applied on a modified retrospective basis and to each prior reporting period presented and is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The Company is currently evaluating the effect this standard will have on its condensed consolidated financial statements.

In May 2014, the FASB issued ASU No. 2014-09 ‘‘Revenue from Contracts with Customers,’’ to clarify the principles of recognizing revenue and create common revenue recognition guidance between US GAAP and International Financial Reporting Standards. In March 2016, the FASB issued ASU 2016-08, Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net). In April 2016, the FASB issued ASU 2016-10, Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing. In May 2016, the FASB issued ASU 2016-12, Narrow-Scope Improvements and Practical Expedients. ASUs’ 2016-12, 2016-10 and 2016-08 all clarify the interpretation guidance in ASU No. 2014-09, “Revenue from Contracts with Customers” specifically related to narrowing specific aspects of Topic 606 and adding illustrative examples to assist in the application of the guidance. The effective date and transition requirements in ASUs’ 2016-12, 2016-10, and 2016-08 are the same as the effective date and transition requirements of ASU 2014-09. ASU 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, defers the effective date of ASU 2014-09 by one year. The new standard allows for either a retrospective or modified retrospective approach to transition upon adoption. The new standard will be effective for annual reporting periods beginning after December 15, 2017. Early adoption is permitted for annual reporting periods beginning after December 15, 2016. The Company will adopt ASU 2014-09 as well as the clarified guidance in ASUs’ 2016-12, 2016-10, 2016-08 during the first quarter of 2018, as required, but is still evaluating its transition approach upon adoption. The Company is currently evaluating the impact of this new standard on its condensed consolidated financial statements. In 2017, the Company will continue to rewrite its revenue recognition accounting policy and draft new revenue disclosures to reflect the requirements of this standard. The Company also continues to evaluate the impact this guidance will have on our condensed consolidated financial statements including but not limited to review of its performance obligations in its fixed fee contracts.

Net Income Per Share

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Net Income Per Share

(2) Net Income Per Share

Basic and diluted earnings or loss per share (“EPS”) are computed using the two-class method, which is an earnings allocation that determines EPS for each class of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. Restricted Stock Awards (“RSAs”) are considered participating securities because they are legally issued at the date of grant and holders are entitled to receive non-forfeitable dividends during the vesting term.

The computation of diluted EPS includes additional common shares, such as unvested stock options with exercise prices less than the average market price of the Company’s common stock during the period (“in-the-money options”), which would be considered outstanding under the treasury stock method. The treasury stock method assumes that additional shares would have to be issued in cases where the exercise price of stock options is less than the value of the common stock being acquired because the cash proceeds received from the stock option holder would not be sufficient to acquire that same number of shares. The Company does not compute diluted EPS in cases where the inclusion of such additional shares would be anti-dilutive in effect.

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2017 and 2016, (in thousands, except for earnings per share):


	Three Months Ended
	March 31,
	2017		2016
Weighted-average shares:
Common shares outstanding		40,669		32,625
RSAs		59		-
Total weighted-average shares		40,728		32,625
Earnings per common share—Basic
Net income	$	8,447	$	3,448
Less: Undistributed earnings allocated to RSAs		12		-
Net income available to common shareholders—Basic	$	8,435	$	3,448

Net income per common share—Basic	$	0.21	$	0.11

Basic weighted-average common shares outstanding		40,669		32,625
Effect of diluted shares		839		-
Diluted weighted-average shares outstanding		41,508		32,625

Net income per common share—Diluted	$	0.20	$	0.11

During the three month periods ended March 31, 2017 and 2016, respectively, there were 75,193 and 263,924 shares excluded from the computation of EPS because they were anti-dilutive under the treasury method calculation of diluted weighted average shares outstanding. During the three month period ended March 31, 2016, the Company had 794,037 stock options that were excluded due to the exercise price exceeding the average fair value of the Company’s common stock during the period.

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements	(3) Fair Value Measurements The Company follows accounting guidance related to fair value measurements that defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy for inputs used in measuring fair value. This hierarchy maximizes the use of “observable” inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy specifies three levels based on the inputs, as follows: Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities. Level 2: Valuations based on directly observable inputs or unobservable inputs corroborated by market data. Level 3: Valuations based on unobservable inputs supported by little or no market activity representing management’s determination of assumptions of how market participants would price the assets or liabilities. The fair value of financial instruments such as cash and cash equivalents, accounts receivable and unbilled, net, accounts payable, accrued expenses and advanced billings approximate their carrying amounts due to their short term maturities. The Company does not have any recurring fair value measurements as of March 31, 2017. There were no transfers between Level 1, Level 2 or Level 3 during the three months ended March 31, 2017 or 2016.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accounts Receivable And Unbilled, Net

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Accounts Receivable And Unbilled, Net

(4) Accounts Receivable And Unbilled, Net

Accounts receivable and unbilled, net includes service revenue and reimbursed out-of-pocket revenue. Accounts receivable and unbilled, net consisted of the following (in thousands):

	As of
	March 31,		December 31,
	2017		2016
Accounts receivable	$	57,998	$	48,270
Unbilled	27,177			34,719
Less allowance for doubtful accounts	(2,892)		(3,222)
Total accounts receivable and unbilled, net	$	82,283	$	79,767

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Intangible Assets, Net

3 Months Ended

Mar. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

(5) Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):

	As of
	March 31,			December 31,
	2017			2016
Intangible assets:
Finite-lived intangible assets:
Carrying amount:
Backlog	$	72,630		$	72,630
Customer relationships		145,051			145,051
Developed technologies		54,475			54,475
Other		2,505			2,505
Total finite-lived intangible assets		274,661			274,661
Accumulated amortization:
Backlog		(72,630	)		(72,630	)
Customer relationships		(72,866	)		(66,267	)
Developed technologies		(32,685	)		(29,961	)
Other		(1,503	)		(1,378	)
Total accumulated amortization		(179,684	)		(170,236	)
Total finite-lived intangible assets, net		94,977			104,425
Trade name (indefinite-lived)		31,646			31,646
Total intangible assets, net	$	126,623		$	136,071

As of March 31, 2017, estimated amortization expense of the Company’s intangible assets for each of the next five years and thereafter is as follows (in thousands):

	Amortization
Remainder of 2017	$	28,342
2018		29,371
2019		14,639
2020		7,797
2021		5,114
Later years		9,714
	$	94,977

Accrued Expenses

3 Months Ended

Mar. 31, 2017

Payables And Accruals [Abstract]

Accrued Expenses

(6) Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	As of
	March 31,		December 31,
	2017		2016
Employee compensation and benefits	$	10,678	$	21,453
Other		3,405		2,964
Total accrued expenses	$	14,083	$	24,417

Debt

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Debt

(7) Debt

Debt consisted of the following (in thousands):

	As of
	March 31,			December 31,
	2017			2016

Term loan	$	161,906		$	165,000
Less unamortized discount		(500	)		(534	)
Less unamortized term loan debt issuance costs		(770	)		(824	)
Less current portion of long-term debt		(13,406	)		(12,375	)
Long-term debt, net, less current portion	$	147,230		$	151,267

Principal payments on debt are due as follows (in thousands):

2017 (remaining)		$ 9,281
2018		16,500
2019		16,500
2020		20,625
2021		99,000
Total		$ 161,906

The estimated fair value of the Company’s term loan based on Level 2 inputs using the market approach, which is primarily based on rates at which the debt is traded among financial institutions, approximates the carrying value as of March 31, 2017 and December 31, 2016.

Shareholder's Equity and Stock-Based Compensation

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Shareholder's Equity and Stock-Based Compensation

(8) Shareholder’s Equity and Stock-Based Compensation

The Company granted 700,050 stock option awards, vesting after four years, to employees under the 2016 Incentive Award Plan, during the three months ended March 31, 2017. The Company granted 34,812 stock options vesting equally over four years and 11,111 restricted awards, which immediately vested upon issuance, to employees under the 2014 Equity Incentive Plan during the three months ended March 31, 2016.

Award Activity

The following table sets forth the Company’s stock option activity:

	Three Months Ended March 31, 2017
				Weighted Average
	Stock Options			Exercise Price
Outstanding - beginning of period		2,350,166		$	17.57
Granted		700,050		$	28.33
Exercised		(12,688	)	$	15.22
Forfeited		(49,834	)	$	18.31
Expired		-		$	-
Outstanding - end of period		2,987,694		$	20.09

Exercisable - end of period		757,404		$	15.47

The following table sets forth the Company’s Restricted Share activity:

	Three Months Ended
	March 31, 2017
	Shares
Outstanding and unvested - beginning of period		59,258
Granted		-
Vested		-
Forfeited		-
Outstanding and unvested - end of period		59,258

Cumulative vested shares - end of period		1,854,658

Stock-based compensation expense recognized in the condensed consolidated statements of operations related to all outstanding stock based compensation awards is summarized below (in thousands):

	Three Months Ended March 31,
	2017		2016
Direct costs, excluding depreciation and amortization	$	542	$	563
Selling, general and administrative		492		446
Total stock-based compensation expense	$	1,034	$	1,009

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	(9) Income Taxes The Company’s effective income tax rate was 38.7% and 42.2% for the three months ended March 31, 2017 and 2016, respectively. The Company’s effective income tax rate for the three months ended March 31, 2017 varied from the U.S. statutory rate of 35.0% primarily due to the impact of domestic and foreign uncertain tax positions.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) Commitments and Contingencies Legal Proceedings The Company is involved in legal proceedings from time to time in the ordinary course of its business, including employment claims and claims related to other business transactions. The Company cannot predict with certainty the outcome of such proceedings, but it believes that adequate reserves have been recorded and losses already recognized with respect to such actions were immaterial as of March 31, 2017 and December 31, 2016. There is a reasonable possibility that a loss exceeding amounts already recognized may be incurred related to these actions; however, the Company believes that such potential losses were immaterial as of March 31, 2017.

Related Party Transactions	3 Months Ended
Related Party Transactions	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	(11) Related Party Transactions Employee Loans The Company periodically extends short term loans or advances to employees, typically upon commencement of employment. Total receivables as a result of these employee advances of $0.2 million existed at March 31, 2017 and December 31, 2016, respectively, and are included in the Prepaid expenses and other current assets and Other assets line items of the condensed consolidated balance sheets, respectively, depending on the contractual repayment date. Service Agreements Medpace Investors LLC, a noncontrolling shareholder of the Company that is owned by employees of the Company and managed by the Company’s chief executive officer, has a majority ownership interest in Symplmed Pharmaceuticals, LLC (“Symplmed”), a private pharmaceutical development company. In addition, the chief executive officer and other executives of the Company are board members of Symplmed. The Company has operated under a Master Services Agreement (“MSA”) with Symplmed since 2013 (amended in 2014) to perform clinical trials and related activities. Certain task orders governed by this arrangement were amended in the third quarter of 2016, changing the fee structure from unitized in nature to time and materials and revised pricing to more appropriately reflect market pricing based on the Company’s leveraging of this work to develop and enhance certain new service capabilities. The Company has evaluated its relationship with Symplmed and concluded that Symplmed is not a variable interest entity because the Company has no direct ownership interest or relationship other than the MSA. During the three months ended March 31, 2017 and 2016, the Company recognized service revenue from Symplmed of less than $0.1 million and $0.3 million, respectively, in the Company’s condensed consolidated statements of operations. The chief executive officer of the Company is a member of Coherus BioSciences, Inc.’s (“Coherus”) board of directors. During the three months ended March 31, 2017 and 2016, the Company recognized service revenue from Coherus of $3.3 million and $7.1 million, respectively, in the Company’s condensed consolidated statements of operations. In addition, the company recognized Reimbursed out-of-pocket revenue and Reimbursed out-of-pocket expenses with Coherus in the condensed consolidated statements of operations of $0.6 million and $1.2 million during the three months ended March 31, 2017 and 2016, respectively. As of March 31, 2017 and December 31, 2016, respectively, the Company had Accounts receivable and unbilled, net from Coherus of $1.4 million and $2.0 million recorded in the condensed consolidated balance sheets. As of March 31, 2017 and December 31, 2016, respectively, the Company had, from Coherus, $5.0 million and $6.3 million of Advanced billings and $3.6 million and $3.8 million of Pre-funded study costs, in the condensed consolidated balance sheets. Certain executives and employees of the Company, including the chief executive officer, have equity investments in Xenon, a clinical-stage biopharmaceutical company. During July 2015 the Company and Xenon entered into an amended MSA agreement for the Company to provide certain clinical development services. The Company recognized service revenue from Xenon of $0.5 million and $0.3 million during the three months ended March 31, 2017 and 2016, respectively, in the Company’s condensed consolidated statements of operations. As of March 31, 2017 and December 31, 2016, respectively, the Company had Accounts receivable and unbilled, net from Xenon of $0.1 million and $0.3 million recorded in the condensed consolidated balance sheets. As of March 31, 2017 and December 31, 2016, respectively, the Company had, from Xenon, $0.6 million and $1.3 million of Advanced billings and $0.2 million and $0.1 million of Pre-funded study costs, in the condensed consolidated balance sheets. Medpace Investors, LLC Medpace Investors is a noncontrolling shareholder and related party of Medpace Holdings, Inc. Medpace Investors is owned and managed by employees of the Company. The chief executive officer of Medpace is also the manager and majority unit holder of Medpace Investors. The Successor Company acted as a paying agent for Medpace Investors with taxing authorities principally in instances when employee tax payments or remittance of withholdings related to equity compensation are required. During the three months ended March 31, 2016, the Company paid $0.6 million to various taxing authorities on behalf of Medpace Investors. Purchase of Real Estate Properties In December 2016, the Company entered into a purchase agreement for four parcels of real estate property that are closely situated to the Medpace campus in Cincinnati, Ohio, from AT Redevelopment Company, LLC, which is wholly-owned by the Company’s chief executive officer. The purchase price of the real estate property was $355,500 as determined by an independent third party broker's opinion of value. The transaction closed on January 11, 2017. Leased Real Estate Headquarters Lease The Company entered into an operating lease for its corporate headquarters with an entity that is wholly owned by the chief executive officer of the Company. The Company has evaluated its relationship with the related party and concluded that the related party is not a variable interest entity because the Company has no direct ownership interest or relationship other than the lease. The lease for headquarters is for an initial term of twelve years through November 2022 with a renewal option for one 10-year term at prevailing market rates. The Company pays rent, taxes, insurance, and maintenance expenses that arise from the use of the property. Annual base rent for the corporate headquarters allows for adjustments to the rental rate annually for increases in the consumer price index. Lease expense recognized for each of the three months ended March 31, 2017 and 2016 was $0.5 million, respectively. The lease expense was allocated between Direct costs, excluding depreciation and amortization, and Selling, general and administrative in the condensed consolidated statements of operations. Deemed Assets and Deemed Landlord Liabilities The Company entered into two multi-year lease agreements governing the occupancy of space of two buildings in Cincinnati, Ohio with an entity that is wholly owned by the Company’s chief executive officer and certain members of his immediate family. In accordance with the accounting guidance related to leases, the Company was deemed in substance to be the owner of the property during the construction phase and at completion. Accordingly, the Company reflected the buildings and related liabilities as deemed assets from landlord building construction in Property and equipment, net, Other current liabilities, and Deemed landlord liability, less current portion, respectively, on the condensed consolidated balance sheets. The Company assumed occupancy in 2012 and the leases expire in 2027 with the Company having one 10-year option to extend the lease term. The deemed assets are being fully depreciated, on a straight line basis, over the 15-year term of the lease. Deemed landlord liabilities are recorded at their net present value when the Company enters into qualifying leases and are reduced as the Company makes periodic lease payments on the properties. Accretion expense is being recorded over the term of the lease as a component of Interest expense, net in the Company’s condensed consolidated statements of operations. The Company paid $0.9 million during the three months ended March 31, 2017 and 2016, respectively. The current and long-term portions of the Deemed landlord liability at March 31, 2017 were $1.8 million and $28.1 million, respectively. The current and long-term portions of the Deemed landlord liability at December 31, 2016 were $1.7 million and $28.5 million, respectively. The Company has recognized deemed assets, net of $17.6 million and $18.1 million at March 31, 2017 and December 31, 2016, respectively, in the condensed consolidated balance sheets. Travel Services The Company incurs expenses for travel services for company executives provided by a private aviation charter company that is owned by the chief executive officer and the executive vice president of operations of the Company (“private aviation charter”). The Company may contract directly with the private aviation charter for the use of its aircraft or indirectly through a third party aircraft management and jet charter company (the “Aircraft Management Company”). The travel services provided are primarily for business purposes, with certain personal travel paid for as part of the executives’ compensation arrangements. The Aircraft Management Company also makes the private aviation charter aircraft available to third parties. The Company incurred travel expenses of $0.3 million and $0.3 million during the three months ended March 31, 2017 and 2016, respectively, related to these travel services. These travel expenses are recorded in Selling, general and administrative in the Company’s condensed consolidated statements of operations.

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	(12) Subsequent Events On April 27, 2017, the Company’s Board of Directors authorized a share repurchase program of up to $50.0 million of the Company’s common stock in the open market or negotiated transactions, at the discretion of our management. The extent and timing of repurchases will depend on market conditions, applicable regulatory requirements, and other considerations.

Basis of Presentation (Policies)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Unaudited Interim Financial Information

Recently Adopted and Issued Accounting Standards

Recently Adopted Accounting Standards

•

Upon adoption, no other aspects of ASU 2016-09 had an effect on the Company's condensed consolidated financial statements or related footnote disclosures.

Recently Issued Accounting Standards

Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2017

Earnings Per Share [Abstract]

Schedule of Reconciliation of Denominators and Additional Shares that are Excluded from the Calculation of EPS

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2017 and 2016, (in thousands, except for earnings per share):


	Three Months Ended
	March 31,
	2017		2016
Weighted-average shares:
Common shares outstanding		40,669		32,625
RSAs		59		-
Total weighted-average shares		40,728		32,625
Earnings per common share—Basic
Net income	$	8,447	$	3,448
Less: Undistributed earnings allocated to RSAs		12		-
Net income available to common shareholders—Basic	$	8,435	$	3,448

Net income per common share—Basic	$	0.21	$	0.11

Basic weighted-average common shares outstanding		40,669		32,625
Effect of diluted shares		839		-
Diluted weighted-average shares outstanding		41,508		32,625

Net income per common share—Diluted	$	0.20	$	0.11

Accounts Receivable And Unbilled, Net (Tables)

3 Months Ended

Mar. 31, 2017

Receivables [Abstract]

Schedule of Accounts Receivable and Unbilled, Net

Accounts receivable and unbilled, net consisted of the following (in thousands):

	As of
	March 31,		December 31,
	2017		2016
Accounts receivable	$	57,998	$	48,270
Unbilled	27,177			34,719
Less allowance for doubtful accounts	(2,892)		(3,222)
Total accounts receivable and unbilled, net	$	82,283	$	79,767

Intangible Assets, Net (Tables)

3 Months Ended

Mar. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets, Net

Intangible assets, net consisted of the following (in thousands):

	As of
	March 31,			December 31,
	2017			2016
Intangible assets:
Finite-lived intangible assets:
Carrying amount:
Backlog	$	72,630		$	72,630
Customer relationships		145,051			145,051
Developed technologies		54,475			54,475
Other		2,505			2,505
Total finite-lived intangible assets		274,661			274,661
Accumulated amortization:
Backlog		(72,630	)		(72,630	)
Customer relationships		(72,866	)		(66,267	)
Developed technologies		(32,685	)		(29,961	)
Other		(1,503	)		(1,378	)
Total accumulated amortization		(179,684	)		(170,236	)
Total finite-lived intangible assets, net		94,977			104,425
Trade name (indefinite-lived)		31,646			31,646
Total intangible assets, net	$	126,623		$	136,071

Schedule of Estimated Amortization Expense of Intangible Assets

As of March 31, 2017, estimated amortization expense of the Company’s intangible assets for each of the next five years and thereafter is as follows (in thousands):

	Amortization
Remainder of 2017	$	28,342
2018		29,371
2019		14,639
2020		7,797
2021		5,114
Later years		9,714
	$	94,977

Accrued Expenses (Tables)

3 Months Ended

Mar. 31, 2017

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	As of
	March 31,		December 31,
	2017		2016
Employee compensation and benefits	$	10,678	$	21,453
Other		3,405		2,964
Total accrued expenses	$	14,083	$	24,417

Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following (in thousands):

	As of
	March 31,			December 31,
	2017			2016

Term loan	$	161,906		$	165,000
Less unamortized discount		(500	)		(534	)
Less unamortized term loan debt issuance costs		(770	)		(824	)
Less current portion of long-term debt		(13,406	)		(12,375	)
Long-term debt, net, less current portion	$	147,230		$	151,267

Schedule of Principal Payments on Debt Due

Principal payments on debt are due as follows (in thousands):

2017 (remaining)		$ 9,281
2018		16,500
2019		16,500
2020		20,625
2021		99,000
Total		$ 161,906

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

+ Details

Shareholder's Equity and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Schedule of Stock Option Activity

The following table sets forth the Company’s stock option activity:

	Three Months Ended March 31, 2017
				Weighted Average
	Stock Options			Exercise Price
Outstanding - beginning of period		2,350,166		$	17.57
Granted		700,050		$	28.33
Exercised		(12,688	)	$	15.22
Forfeited		(49,834	)	$	18.31
Expired		-		$	-
Outstanding - end of period		2,987,694		$	20.09

Exercisable - end of period		757,404		$	15.47

Schedule of Restricted Share Activity

The following table sets forth the Company’s Restricted Share activity:

	Three Months Ended
	March 31, 2017
	Shares
Outstanding and unvested - beginning of period		59,258
Granted		-
Vested		-
Forfeited		-
Outstanding and unvested - end of period		59,258

Cumulative vested shares - end of period		1,854,658

Summary of Stock-Based Compensation Expense Recognized in Statements of Operations Related to All Outstanding Stock Based Compensation Awards

Stock-based compensation expense recognized in the condensed consolidated statements of operations related to all outstanding stock based compensation awards is summarized below (in thousands):

	Three Months Ended March 31,
	2017		2016
Direct costs, excluding depreciation and amortization	$	542	$	563
Selling, general and administrative		492		446
Total stock-based compensation expense	$	1,034	$	1,009

Basis of Presentation - Additional Information (Details)		3 Months Ended
	Jul. 25, 2016	Mar. 31, 2017 USD ($)
Basis Of Presentation [Line Items]
Reverse stock split of common stock	0.74
Accounting Standard Update (“ASU”) No. 2016-09 \| Maximum
Basis Of Presentation [Line Items]
Discrete adjustments to income tax expense recognized		$ 100,000

Net Income Per Share - Schedule of Reconciliation of Denominators and Additional Shares that are Excluded from the Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Weighted-average shares:
Basic weighted-average common shares outstanding	40,669	32,625
Total weighted-average shares	40,728	32,625
Earnings per common share—Basic
Net income	$ 8,447	$ 3,448
Net income available to common shareholders—Basic	$ 8,435	$ 3,448
Net income per common share—Basic	$ 0.21	$ 0.11
Basic weighted-average common shares outstanding	40,669	32,625
Effect of diluted shares	839	0
Diluted weighted-average shares outstanding	41,508	32,625
Net income per common share—Diluted	$ 0.20	$ 0.11
RSAs
Weighted-average shares:
Basic weighted-average common shares outstanding	59	0
Earnings per common share—Basic
Less: Undistributed earnings allocated to RSAs	$ 12	$ 0
Basic weighted-average common shares outstanding	59	0
Common Stock
Weighted-average shares:
Basic weighted-average common shares outstanding	40,669	32,625
Earnings per common share—Basic
Basic weighted-average common shares outstanding	40,669	32,625

Net Income Per Share - Additional Information (Details) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted EPS	75,193	263,924
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted EPS		794,037

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair value measurements transfers between level 1, level 2, or level 3	$ 0	$ 0

Accounts Receivable And Unbilled, Net - Schedule of Accounts Receivable and Unbilled, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accounts Notes And Loans Receivable Net Current [Abstract]
Accounts receivable	$ 57,998	$ 48,270
Unbilled	27,177	34,719
Less allowance for doubtful accounts	(2,892)	(3,222)
Total accounts receivable and unbilled, net	$ 82,283	$ 79,767

Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Finite-lived intangible assets:
Total finite-lived intangible assets	$ 274,661	$ 274,661
Accumulated amortization:
Total accumulated amortization	(179,684)	(170,236)
Total finite-lived intangible assets, net	94,977	104,425
Trade name (indefinite-lived)	31,646	31,646
Total intangible assets, net	126,623	136,071
Backlog
Finite-lived intangible assets:
Total finite-lived intangible assets	72,630	72,630
Accumulated amortization:
Total accumulated amortization	(72,630)	(72,630)
Customer Relationships
Finite-lived intangible assets:
Total finite-lived intangible assets	145,051	145,051
Accumulated amortization:
Total accumulated amortization	(72,866)	(66,267)
Developed Technologies
Finite-lived intangible assets:
Total finite-lived intangible assets	54,475	54,475
Accumulated amortization:
Total accumulated amortization	(32,685)	(29,961)
Other
Finite-lived intangible assets:
Total finite-lived intangible assets	2,505	2,505
Accumulated amortization:
Total accumulated amortization	$ (1,503)	$ (1,378)

Intangible Assets, Net - Schedule of Estimated Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2017	$ 28,342
2018	29,371
2019	14,639
2020	7,797
2021	5,114
Later years	9,714
Total finite-lived intangible assets, net	$ 94,977	$ 104,425

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accrued Liabilities And Other Liabilities [Abstract]
Employee compensation and benefits	$ 10,678	$ 21,453
Other	3,405	2,964
Total accrued expenses	$ 14,083	$ 24,417

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Less unamortized discount	$ (500)	$ (534)
Less unamortized term loan debt issuance costs	(770)	(824)
Less current portion of long-term debt	(13,406)	(12,375)
Long-term debt, net, less current portion	147,230	151,267
Term Loan
Debt Instrument [Line Items]
Long-term debt, gross	$ 161,906	$ 165,000

Debt - Schedule of Principal Payments on Debt Due (Details) $ in Thousands	Mar. 31, 2017 USD ($)
Debt Disclosure [Abstract]
2017 (remaining)	$ 9,281
2018	16,500
2019	16,500
2020	20,625
2021	99,000
Total	$ 161,906

Shareholder's Equity and Stock-Based Compensation - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	700,050
2016 Incentive Award Plan \| Vesting After Four Years
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	700,050
Award vesting period	4 years
2014 Equity Incentive Plan \| Restricted Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted		11,111
2014 Equity Incentive Plan \| Vesting Equally Over Four Years
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted		34,812
Award vesting period		4 years

Shareholder's Equity and Stock-Based Compensation - Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2017 $ / shares shares
Equity [Abstract]
Number of Stock Options, Outstanding - beginning of period \| shares	2,350,166
Number of Stock Options, Granted \| shares	700,050
Number of Stock Options, Exercised \| shares	(12,688)
Number of Stock Options, Forfeited \| shares	(49,834)
Number of Stock Options, Expired \| shares	0
Number of Stock Options, Outstanding - end of period \| shares	2,987,694
Number of Stock Options, Exercisable - end of period \| shares	757,404
Weighted average exercise price, Outstanding - beginning of period \| $ / shares	$ 17.57
Weighted average exercise price, Granted \| $ / shares	28.33
Weighted average exercise price, Exercised \| $ / shares	15.22
Weighted average exercise price, Forfeited \| $ / shares	18.31
Weighted average exercise price, Expired \| $ / shares	0
Weighted average exercise price, Outstanding - end of period \| $ / shares	20.09
Weighted average exercise price, Exercisable - end of period \| $ / shares	$ 15.47

Shareholder's Equity and Stock-Based Compensation - Schedule of Restricted Share Activity (Details) - Restricted Stock Units	3 Months Ended
	Mar. 31, 2017 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding and unvested - beginning of period	59,258
Granted	0
Vested	0
Forfeited	0
Outstanding and unvested - end of period	59,258
Cumulative vested shares - end of period	1,854,658

Shareholder's Equity and Stock-Based Compensation - Summary of Stock-Based Compensation Expense Recognized in Statements of Operations Related to All Outstanding Stock Based Compensation Awards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 1,034	$ 1,009
Direct Costs, Excluding Depreciation and Amortization
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	542	563
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 492	$ 446

Income Taxes - Additional Information (Details)	3 Months Ended
Income Taxes - Additional Information (Details)	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	38.70%	42.20%
U.S. statutory rate	35.00%

Related Party Transactions - Additional Information (Details)	1 Months Ended	3 Months Ended
	Dec. 31, 2016 USD ($) Parcel	Mar. 31, 2017 USD ($) RenewalOption Agreement Building	Mar. 31, 2016 USD ($)
Related Party Transaction [Line Items]
Service revenue with related parties		$ 4,000,000	$ 7,800,000
Reimbursed out-of-pocket revenue with related parties		700,000	1,200,000
Accounts receivable and unbilled, net	$ 79,767,000	82,283,000
Advanced billings	65,668,000	60,474,000
Pre-funded study costs with related parties	3,900,000	3,900,000
Deemed landlord liability, long-term portions	28,527,000	28,063,000
Medpace Investors
Related Party Transaction [Line Items]
Related party tax expense			600,000
Employee Loans \| Prepaid Expenses and Other Current Assets
Related Party Transaction [Line Items]
Employee advances receivables		200,000
Employee Loans \| Other Assets
Related Party Transaction [Line Items]
Employee advances receivables	200,000
Service Agreements \| Symplmed
Related Party Transaction [Line Items]
Service revenue with related parties			300,000
Service Agreements \| Coherus Bio Sciences Inc
Related Party Transaction [Line Items]
Service revenue with related parties		3,300,000	7,100,000
Reimbursed out-of-pocket revenue with related parties		600,000	1,200,000
Accounts receivable and unbilled, net	2,000,000	1,400,000
Advanced billings	6,300,000	5,000,000
Pre-funded study costs with related parties	3,800,000	3,600,000
Service Agreements \| Xenon
Related Party Transaction [Line Items]
Service revenue with related parties		500,000	300,000
Accounts receivable and unbilled, net	300,000	100,000
Advanced billings	1,300,000	600,000
Pre-funded study costs with related parties	$ 100,000	200,000
Service Agreements \| Maximum \| Symplmed
Related Party Transaction [Line Items]
Service revenue with related parties		$ 100,000
Purchase of Real Estate Properties \| Chief Executive Officer
Related Party Transaction [Line Items]
Number of parcel in real estate property \| Parcel	4
Purchase price of real estate property	$ 355,500
Transaction closed date		Jan. 11, 2017
Leased Real Estate \| Chief Executive Officer
Related Party Transaction [Line Items]
Term of lease		12 years
Lease expiration period		2022-11
Number of lease renewal, 10-year option \| RenewalOption		1
Lease term upon renewal		10 years
Lease expense recognized		$ 500,000	500,000
Leased Real Estate \| Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Term of lease		15 years
Number of lease renewal, 10-year option \| RenewalOption		1
Lease term upon renewal		10 years
Number of lease agreements \| Agreement		2
Number of buildings \| Building		2
Lease occupancy year		2012
Lease expiration year		2027
Accretion expense paid		$ 900,000	900,000
Deemed landlord liability, current	1,700,000	1,800,000
Deemed landlord liability, long-term portions	28,500,000	28,100,000
Leased Real Estate \| Property and Equipment, Net \| Chief Executive Officer And Immediate Family \| Building
Related Party Transaction [Line Items]
Deemed assets, net	$ 18,100,000	17,600,000
Travel Services \| Chief Executive Officer
Related Party Transaction [Line Items]
Travel expenses with related party		$ 300,000	$ 300,000

Subsequent Events - Additional Information (Details)	Apr. 27, 2017 USD ($)
Maximum \| Subsequent Event
Subsequent Event [Line Items]
Stock repurchase program, authorized amount	$ 50,000,000