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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 26, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Trading Symbol	MEDP
Entity Registrant Name	Medpace Holdings, Inc.
Entity Central Index Key	0001668397
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding		35,896,510
Entity File Number	001-37856
Entity Tax Identification Number	320434904
Entity Address, Address Line One	5375 Medpace Way
Entity Address, City or Town	Cincinnati
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45227
City Area Code	(513)
Local Phone Number	579-9911

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 20,098	$ 23,275
Restricted cash	0	7
Accounts receivable and unbilled, net (includes $2.6 million and $3.8 million with related parties at June 30, 2019 and December 31, 2018, respectively)	149,860	133,449
Prepaid expenses and other current assets	24,386	21,383
Total current assets	194,344	178,114
Property and equipment, net	39,749	52,255
Operating lease right-of-use assets	51,809	0
Goodwill	662,427	660,981
Intangible assets, net	60,340	69,179
Deferred income taxes	313	713
Other assets	7,879	6,691
Total assets	1,016,861	967,933
Current liabilities:
Accounts payable (includes $0.1 million and $0.3 million with related parties at June 30, 2019 and December 31, 2018, respectively)	22,691	16,737
Accrued expenses	93,604	87,493
Advanced billings (includes $1.6 million and $0.4 million with related parties at June 30, 2019 and December 31, 2018, respectively)	165,447	147,935
Other current liabilities	14,331	4,861
Total current liabilities	296,073	257,026
Long-term debt, net, less current portion	0	79,721
Operating lease liabilities	43,731	0
Deemed landlord liability, less current portion	0	24,484
Deferred income tax liability	4,599	439
Other long-term liabilities	14,403	16,560
Total liabilities	358,806	378,230
Commitments and contingencies (see Note 12)
Shareholders’ equity:
Preferred stock - $0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	0	0
Common stock - $0.01 par-value; 250,000,000 shares authorized at June 30, 2019 and December 31, 2018, respectively; 35,894,048 and 35,665,910 shares issued and outstanding at June 30, 2019 and December 31, 2018, respectively	359	356
Treasury stock - 200,000 shares at June 30, 2019 and December 31, 2018, respectively	(6,030)	(6,030)
Additional paid-in capital	651,784	639,381
Retained earnings (accumulated deficit)	14,319	(41,487)
Accumulated other comprehensive loss	(2,377)	(2,517)
Total shareholders’ equity	658,055	589,703
Total liabilities and shareholders’ equity	$ 1,016,861	$ 967,933

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Statement Of Financial Position [Abstract]
Accounts receivable, unbilled services with related parties	$ 2.6	$ 3.8
Accounts payable includes related parties	0.1	0.3
Advanced billings with related parties	$ 1.6	$ 0.4
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	35,894,048	35,665,910
Common stock shares outstanding	35,894,048	35,665,910
Treasury stock shares	200,000	200,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenue, net (includes $4.0 million and $2.6 million with related parties for the three months ended June 30, 2019 and 2018, respectively, and $9.1 million and $4.1 million with related parties for the six months ended June 30, 2019 and 2018, respectively)	$ 214,104	$ 170,144	$ 414,845	$ 333,221
Operating expenses:
Direct service costs, excluding depreciation and amortization	79,327	61,478	154,436	121,819
Reimbursed out-of-pocket expenses	70,985	55,198	141,579	112,111
Total direct costs	150,312	116,676	296,015	233,930
Selling, general and administrative	23,556	20,507	44,864	36,506
Depreciation	1,982	2,226	3,973	4,540
Amortization	2,995	7,390	8,839	14,781
Total operating expenses	178,845	146,799	353,691	289,757
Income from operations	35,259	23,345	61,154	43,464
Other expense, net:
Miscellaneous (expense) income, net	(19)	478	(301)	325
Interest expense, net	(748)	(2,308)	(1,703)	(4,617)
Total other expense, net	(767)	(1,830)	(2,004)	(4,292)
Income before income taxes	34,492	21,515	59,150	39,172
Income tax provision	7,037	4,947	12,497	8,053
Net income	$ 27,455	$ 16,568	$ 46,653	$ 31,119
Net income per share attributable to common shareholders:
Basic	$ 0.76	$ 0.46	$ 1.30	$ 0.87
Diluted	$ 0.73	$ 0.45	$ 1.24	$ 0.85
Weighted average common shares outstanding:
Basic	35,839	35,519	35,772	35,503
Diluted	37,389	36,664	37,377	36,586

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenue Net
Revenue with related parties	$ 4.0	$ 2.6	$ 9.1	$ 4.1

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 27,455	$ 16,568	$ 46,653	$ 31,119
Other comprehensive income
Foreign currency translation adjustments, net of taxes	414	(2,010)	140	(1,381)
Comprehensive income	$ 27,869	$ 14,558	$ 46,793	$ 29,738

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	(Accumulated Deficit) Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Impact to Retained Earnings from adoption \| ASU 2014-09	$ 5,730				$ 5,730
Balance	509,260	$ 355	$ (6,030)	$ 630,341	(114,672)	$ (734)
Balance at Dec. 31, 2017	503,530	355	(6,030)	630,341	(120,402)	(734)
Net income	14,551				14,551
Foreign currency translation	629					629
Stock-based compensation expense	1,467			1,467
Stock options exercised	566			566
Balance at Mar. 31, 2018	526,473	355	(6,030)	632,374	(100,121)	(105)
Balance at Dec. 31, 2017	503,530	355	(6,030)	630,341	(120,402)	(734)
Net income	31,119
Foreign currency translation	(1,381)
Balance at Jun. 30, 2018	543,127	356	(6,030)	634,469	(83,553)	(2,115)
Balance at Mar. 31, 2018	526,473	355	(6,030)	632,374	(100,121)	(105)
Net income	16,568				16,568
Foreign currency translation	(2,010)					(2,010)
Stock-based compensation expense	1,487			1,487
Stock options exercised	609	1		608
Balance at Jun. 30, 2018	543,127	356	(6,030)	634,469	(83,553)	(2,115)
Impact to Retained Earnings from adoption \| ASU 2016-02	9,153				9,153
Balance	598,856	356	(6,030)	639,381	(32,334)	(2,517)
Balance at Dec. 31, 2018	589,703	356	(6,030)	639,381	(41,487)	(2,517)
Net income	19,198				19,198
Foreign currency translation	(274)					(274)
Stock-based compensation expense	3,183			3,183
Stock options exercised	934	1		933
Balance at Mar. 31, 2019	621,897	357	(6,030)	643,497	(13,136)	(2,791)
Balance at Dec. 31, 2018	589,703	356	(6,030)	639,381	(41,487)	(2,517)
Net income	46,653
Foreign currency translation	140
Balance at Jun. 30, 2019	658,055	359	(6,030)	651,784	14,319	(2,377)
Balance at Mar. 31, 2019	621,897	357	(6,030)	643,497	(13,136)	(2,791)
Net income	27,455				27,455
Foreign currency translation	414					414
Stock-based compensation expense	5,385			5,385
Stock options exercised	2,904	2		2,902
Balance at Jun. 30, 2019	$ 658,055	$ 359	$ (6,030)	$ 651,784	$ 14,319	$ (2,377)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 46,653	$ 31,119
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	3,973	4,540
Amortization	8,839	14,781
Stock-based compensation expense	8,568	2,954
Amortization of debt issuance costs and discount	874	317
Noncash lease expense	4,787	0
Deferred income tax provision (benefit)	1,840	(286)
Amortization and adjustment of deferred credit	(400)	(407)
Other	10	743
Changes in assets and liabilities:
Accounts receivable and unbilled, net	(15,470)	(20,289)
Prepaid expenses and other current assets	(3,414)	(804)
Accounts payable	5,338	1,375
Accrued expenses	6,066	14,184
Advanced billings	17,546	15,846
Lease liabilities	(4,338)	0
Other assets and liabilities, net	(237)	568
Net cash provided by operating activities	80,635	64,641
CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment expenditures	(5,990)	(9,793)
Other	(1,292)	(178)
Net cash used in investing activities	(7,282)	(9,971)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercises	3,891	1,175
Payment of debt	(80,438)	(8,250)
Payments on revolving loan	0	(50,000)
Payment of deemed landlord liability	0	(910)
Net cash used in financing activities	(76,547)	(57,985)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	10	(940)
DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(3,184)	(4,255)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	23,282	26,492
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	$ 20,098	$ 22,237

Basis of Presentation

6 Months Ended

Jun. 30, 2019

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, project management, regulatory affairs, clinical monitoring, data management and analysis, pharmacovigilance new drug application submissions, post-marketing clinical support, 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, 2018.

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(2) Summary of Significant Accounting Policies

Our significant accounting policies are detailed in Note 3 “Summary of Significant Accounting Policies” of our Annual Report on Form 10-K for the year ended December 31, 2018. Significant changes to our accounting policies as a result of adopting Accounting Standards Codification Topic 842 (“ASC 842”) are discussed below:

Lease Recognition

The Company enters into contracts to lease facilities and equipment to be used in its operations. At contract inception, the Company determines whether a contract contains a lease within the scope of Accounting Standard Codification Topic 842, Leases (“ASC 842”), and determines the appropriate classification of the lease as either operating or finance.

Contracts containing operating leases are recorded on the consolidated balance sheets within Operating lease right-of-use (“ROU”) assets, Other current liabilities, and Operating lease liabilities. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future lease payments over the lease term as of the lease commencement date. In addition operating ROU assets also include lease payments made and exclude lease incentives and initial direct costs incurred. Operating lease expense for lease payments is recognized on a straight-line basis over the lease term within Total direct costs and Selling, general, and administrative expenses. Variable lease costs are primarily related to adjustments for inflation, common area maintenance and property tax and are recognized within Total direct costs and Selling, general and administrative expenses.

Contracts containing finance leases are recognized initially in the same manner as Operating lease ROU assets and liabilities, however are recorded on the consolidated balance sheets within Property and equipment, net, Other current liabilities, and Other long-term liabilities. Finance lease assets are subsequently amortized on a straight line basis over the lease term within Depreciation expense, while the lease liability is accreted within Interest expense, net utilizing the discount rate determined at lease commencement and reduced by periodic lease payments over the lease term. Currently, the Company does not have any finance leases.

The discount rate utilized in determining the present value of future payments for both operating and finance leases, unless implicit in the lease contract, is determined based on the Company’s collateralized incremental borrowing rate based on the information available at lease commencement.

Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option as determined at lease commencement.

Many of our lease agreements have both lease and non-lease components, which the Company has elected to treat as a single lease component for recognition purposes.

The Company may enter into short-term leases (leases with a lease term of less than 1 year), which it has elected not to capitalize as assets and liabilities on the consolidated balance sheets, but instead recognizes lease payments within Total direct costs and Selling, general, and administrative expenses on a straight line basis over the lease term.

Recently Adopted Accounting Standards

In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2014-09 ‘‘Revenue from Contracts with Customers,’’ (“ASC 606”) to clarify the principles of recognizing revenue and create common revenue recognition guidance between US GAAP and International Financial Reporting Standards. The new standard became effective for the Company in the first quarter 2018.

The cumulative effect adjustment was recorded as a reduction to the opening balance of Accumulated deficit in the consolidated balance sheets in the amount of $5.7 million, with offsetting amounts of $23.9 million to Accounts receivable and unbilled, net, $(1.6) million to Deferred income taxes, $35.1 million to Accrued expenses, $(57.4) million to Pre-funded study costs and $38.9 million to Advanced billings, respectively. The amounts recorded to Accounts receivable and unbilled, net, Deferred income taxes, Accrued expenses, Pre-funded study costs, and Advanced billings reflect differences between revenue recognized and billings to customers by project as well as costs incurred but not settled as of the Implementation Date. The above disclosed cumulative effect adjustments have been revised from the amounts previously disclosed in the Company’s interim financial statements filed on Form 10-Q for the quarterly periods ended March 31, 2018, June 30, 2018 and September 30, 2018 to correct certain immaterial misstatements to the opening balance sheet adoption impact of the standard. The effects of these misstatements were immaterial to the Company’s results of operations.

In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)” (“ASC 842”). The guidance in ASC 842 supersedes the lease recognition requirements in ASC Topic 840, Leases (FAS 13) (“ASC 840”). The objective of ASC 842 is to increase transparency and comparability among organizations by requiring the recognition of Right of use assets (“ROU assets”) and Lease liabilities on the balance sheet. In addition, ASC 842 introduces additional disclosure requirements that are meant to enable users of the financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. ASC 842 became effective for the Company in the first quarter 2019.

ASC 842 allows by policy election, an entity to choose its transition approach. Entities must adopt ASC 842 on a either a modified retrospective basis to each prior reporting period presented or through an optional alternative method referred to as the “Comparatives Under ASC 840 Approach” which allows entities to apply the new requirements to only those leases that exist as of January 1, 2019. The Company has elected to adopt ASC 842 utilizing the Comparatives Under ASC 840 Approach. As such, ASC 842 is applied on a prospective basis as of January 1, 2019 and any cumulative catch up adjustment for differences between ASC 842 and ASC 840 were recorded upon adoption.

ASC 842 also allows for the election of certain practical expedients that are meant to ease the burden of transitioning to ASC 842 while still achieving compliance. The Company elected the “package of three” practical expedient allowing the Company to carry forward decisions made and documented under current US GAAP, rather than reassessing all of the Company’s contracts to determine whether they are or contain leases and how they would be classified under ASC 842. The Company has decided not to elect the hindsight practical expedient, which had it been elected, would require the Company to reassess the lease term and assessment of impairment for all of the Company’s leases using the facts and circumstances known up to the adoption date of the standard.

ASC 842 had a material impact on our consolidated balance sheets, as all leases currently classified as operating were recognized as ROU assets and lease liabilities upon adoption. In addition, it was determined that two contracts entered into with a related party for two of the Company’s corporate offices that were classified as deemed assets and deemed liabilities under ASC 840 were determined to be operating leases under ASC 842. These deemed assets and liabilities were reclassified on the consolidated balance sheets to ROU assets and lease liabilities and an adjustment to retained earnings was recorded as a cumulative adjustment for the difference in depreciation expense and operating lease expense as of the date of adoption.

The impact of the adoption of ASC 842 as of January 1, 2019 is as follows:

ASSETS	As of
	January 1, 2019			Adjustments			December 31, 2018
Current assets:
Prepaid expenses and other current assets		21,013			(370	)		21,383
Total current assets		177,744			(370	)		178,114
Property and equipment, net		37,613			(14,642	)		52,255
Operating lease right-of-use assets		51,854			51,854			-
Total assets	$	1,004,775		$	36,842		$	967,933
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Other current liabilities		10,951			6,090			4,861
Total current liabilities		263,116			6,090			257,026
Operating lease liabilities		45,294			45,294			-
Deemed landlord liability, less current portion		-			(24,484	)		24,484
Deferred income tax liability		3,158			2,719			439
Other long-term liabilities		14,630			(1,930	)		16,560
Total liabilities		405,919			27,689			378,230
Shareholders’ equity:
Accumulated deficit		(32,334	)		9,153			(41,487	)
Total shareholders’ equity		598,856			9,153			589,703
Total liabilities and shareholders’ equity	$	1,004,775		$	36,842		$	967,933

In February 2018, the FASB issued ASU 2018-02, “Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.” ASU 2018-02 allows for an entity to elect to reclassify the income tax effects on items within accumulated other comprehensive income resulting from U.S. tax reform to retained earnings. The guidance is effective for fiscal years beginning after December 15, 2018 with early adoption permitted, including interim periods within those years. The Company adopted this standard in the first quarter of 2019 and it had no impact on the condensed consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, “Intangibles- Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” ASU 2017-04 simplifies how an entity assesses goodwill for impairment by eliminating Step 2 from the goodwill impairment test. As amended, the goodwill impairment test will consist of one step comparing the fair value of a reporting unit with its carrying amount. An entity should recognize a goodwill impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. The guidance is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. The Company adopted this standard on a prospective basis in the first quarter of 2019 and it had no impact to the condensed consolidated financial statements.

Net Income Per Share

6 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Net Income Per Share

(3) 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 and six months ended June 30, 2019 and 2018 (in thousands, except for earnings per share):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Weighted-average shares:
Common shares outstanding		35,839		35,519		35,772		35,503
RSAs		102		144		103		145
Total weighted-average shares		35,941		35,663		35,875		35,648
Earnings per common share—Basic
Net income	$	27,455	$	16,568	$	46,653	$	31,119
Less: Undistributed earnings allocated to RSAs		78		67		134		127
Net income available to common shareholders—Basic	$	27,377	$	16,501	$	46,519	$	30,992

Net income per common share—Basic	$	0.76	$	0.46	$	1.30	$	0.87

Basic weighted-average common shares outstanding		35,839		35,519		35,772		35,503
Effect of diluted shares		1,550		1,145		1,605		1,083
Diluted weighted-average shares outstanding		37,389		36,664		37,377		36,586

Net income per common share—Diluted	$	0.73	$	0.45	$	1.24	$	0.85

During the three and six months ended June 30, 2019, the Company had 30,500 and 0 stock options, respectively, that were excluded due to the exercise price exceeding the average fair value of the Company’s common stock during the period. During the three and six months ended June 30, 2018, the Company had 24,381 and 56,881 stock options, respectively, 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

6 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

(4) 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 June 30, 2019. There were no transfers between Level 1, Level 2 or Level 3 during the three and six months ended June 30, 2019 or 2018.

- 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

Contract Assets and Contract Liabilities

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Contract Assets and Contract Liabilities

(5) Contract Assets and Contract Liabilities

Contract assets and liabilities are reflected in the Company’s condensed consolidated balance sheets within the accounts reflected below.

Contract Assets

Accounts receivable represent amounts due from the Company’s customers who are concentrated primarily in the pharmaceutical, biotechnology, and medical device industries. Unbilled represents revenue recognized to date that has not been billed or is not yet contractually billable to the customer. In general, amounts become billable upon the achievement of negotiated contractual events, in accordance with predetermined payment schedules or when a reimbursable expense has been incurred. Amounts classified to unbilled are those billable to customers within one year from the respective balance sheet date.

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

	As of
	June 30,			December 31,
	2019			2018
Accounts receivable	$	114,516		$	85,120
Unbilled receivables		36,073			49,361
Less: allowance for doubtful accounts		(729	)		(1,032	)
Total accounts receivable and unbilled, net	$	149,860		$	133,449

Unbilled receivables decreased from $49.4 million at December 31, 2018 to $36.1 million at June 30, 2019. The decrease is primarily driven by increased customer invoicing.

Contract Liabilities

Advanced billings represents cash received from customers, or billed amounts per an agreed upon payment schedule, in advance of services being performed or revenue being recognized.

Advanced billings consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Advanced billings	$	165,447	$	147,935

Advanced billings increased from $147.9 million at December 31, 2018 to $165.4 million at June 30, 2019. The increase is primarily driven by billing and/or collection activity in advance of revenue being earned for services performed.

On June 30, 2019, we had approximately $1,286.6 million of performance obligations remaining to be performed for active projects.

Intangible Assets, Net

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Intangible Assets, Net

(6) Intangible Assets, Net

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

	As of
	June 30,			December 31,
	2019			2018
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		3,074			3,074
Total finite-lived intangible assets		275,230			275,230
Accumulated amortization:
Backlog		(72,630	)		(72,630	)
Customer relationships		(116,531	)		(110,636	)
Developed technologies		(54,475	)		(51,751	)
Other		(2,900	)		(2,680	)
Total accumulated amortization		(246,536	)		(237,697	)
Total finite-lived intangible assets, net		28,694			37,533
Trade name (indefinite-lived)		31,646			31,646
Total intangible assets, net	$	60,340		$	69,179

As of June 30, 2019, 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 2019	$	5,990
2020		7,876
2021		5,114
2022		3,353
2023		2,199
Later years		4,162
	$	28,694

Accrued Expenses

6 Months Ended

Jun. 30, 2019

Payables And Accruals [Abstract]

Accrued Expenses

(7) Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Employee compensation and benefits	$	25,611	$	31,344
Project related reimbursable expenses		63,218		51,109
Other		4,775		5,040
Total accrued expenses	$	93,604	$	87,493

Debt

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

(8) Debt

Debt consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Term loan	$	-	$	80,438
Less unamortized discount		-		(282	)
Less unamortized term loan debt issuance costs		-		(435	)
Long-term debt, net, less current portion	$	-	$	79,721

In the second quarter of 2019, the Company paid off its remaining outstanding obligations against its term loan (the “Senior Secured Term Loan Facility”) under its 2016 Credit Agreement (the “Senior Secured Credit Agreement”). Upon satisfaction of the outstanding obligations of the Senior Secured Term Loan Facility, the Company recorded unamortized term loan issuance fees of $0.3 million to Selling, general and administrative expenses and the unamortized discount of $0.2 million to Interest expense, net.

Leases

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Leases

(9) Leases

The Company enters into leases for real estate and equipment. Real estate leases are for our corporate office space and laboratories around the world. Real estate leases have remaining lease terms of less than 1 year to 20 years. Many of the Company’s leases include options to extend the leases on a month to month basis or for set periods for up to 20 years. Many leases also include options to terminate the leases within 1 year or per other contractual terms.

The components of lease expense as of June 30, 2019 were as follows (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019

Operating lease cost	$	3,220	$	6,337
Variable lease cost		752		1,346

Supplemental cash flow information for the six months ended June 30, 2019 related to the leases was as follows (in thousands):

	Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,686

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		4,561

Supplemental balance sheet information as of June 30, 2019 related to the leases was as follows (in thousands):

	As of June 30, 2019

Operating lease right-of-use assets	$	51,809

Other current liabilities	$	10,128
Operating lease liabilities		43,731
Total operating lease liabilities	$	53,859

Weighted Average Remaining Lease Term (years)
Operating leases	6.3
Weighted Average Discount Rate
Operating leases		5.9	%

Lease payments due related to lease liabilities as of June 30, 2019 were as follows (in thousands):

	Operating Leases
Remainder of 2019	$	6,011
2020		12,489
2021		11,606
2022		9,057
2023		6,808
Later years		19,046
Total lease payments		65,017
Less: imputed interest		(11,158	)
Total	$	53,859

As of June 30, 2019, we have an additional operating lease related to a corporate office under construction, which has not yet commenced, with future payments of $124.0 million. This operating lease will commence in fiscal year 2020 with an initial lease term of 20 years and a renewal option for two 10-year terms at prevailing market rates.

Comparative period disclosures under ASC 840:

Rental expense under operating leases totaled $2.2 million and $4.6 million for the three and six months ended June 30, 2018, respectively.

Future minimum rental payments for lease obligations with initial terms in excess of one year as of December 31, 2018 are as follows (in thousands):

			Non-Related		Total
	Related Party		Parties Operating		Operating
	Operating Lease		Leases		Leases
2019	$	1,987	$	6,186	$	8,173
2020		6,843		6,617		13,460
2021		6,964		5,873		12,837
2022		6,757		3,694		10,451
2023		5,229		3,257		8,486
Thereafter		103,870		5,752		109,622
Total minimum lease payments	$	131,650	$	31,379	$	163,029

Minimum annual payments required in conjunction with the Deemed landlord liabilities as of December 31, 2018 are as follows (in thousands):

	Related Party				Total
	Minimum Lease		Less:		Principal
	Payments		Interest		Amounts Due
2019	$	3,918	$	1,818	$	2,100
2020		3,988		1,662		2,326
2021		4,039		1,490		2,549
2022		4,092		1,301		2,791
2023		4,145		1,095		3,050
Thereafter		15,697		1,929		13,768
Total	$	35,879	$	9,295	$	26,584

Shareholder's Equity and Stock-Based Compensation

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Shareholder's Equity and Stock-Based Compensation

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

The Company granted 510,986 awards to employees under the 2016 Incentive Award Plan during the six months ended June 30, 2019, consisting of 5,000 stock option awards and 167,310 restricted stock units (“RSU”) vesting after four years, 5,000 stock option awards vesting after one year, 311,676 fully-vested stock option awards and 22,000 stock option awards with vesting in twelve equal monthly installments beginning on March 31, 2019. The Company granted an additional 38,832 stock option awards, vesting after one year, to non-employee directors under the 2016 Incentive Award Plan, during the six months ended June 30, 2019. The Company granted 537,000 awards to employees under the 2016 Incentive Award Plan during the six months ended June 30, 2018, consisting of 439,000 stock option awards and 98,000 RSUs, all vesting after four years. The Company granted an additional 24,381 stock option awards, vesting after one year, to non-employee directors under the 2016 Incentive Award Plan, during the six months ended June 30, 2018.

Award Activity

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

	Six Months Ended June 30, 2019
				Weighted Average
	Stock Options			Exercise Price
Outstanding - beginning of period		2,945,040		$	24.18
Granted		382,508		$	55.92
Exercised		(228,138	)	$	16.82
Forfeited/Expired		(92,408	)	$	27.50
Outstanding - end of period		3,007,002		$	28.68

Exercisable - end of period		1,303,932		$	26.51

The following table sets forth the Company’s RSA/RSU activity:

	Six Months Ended
	June 30, 2019
	Shares/Units
Outstanding and unvested - beginning of period		421,200
Granted		167,310
Vested		-
Forfeited		(47,780	)
Outstanding and unvested - end of period		540,730

Cumulative vested shares - end of period		1,913,916

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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Total direct costs	$	1,718	$	901	$	3,278	$	1,744
Selling, general and administrative		3,667		586		5,290		1,210
Total stock-based compensation expense	$	5,385	$	1,487	$	8,568	$	2,954

Income Taxes

6 Months Ended

Jun. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

(11) Income Taxes

The Company’s effective income tax rate was 20.4% and 23.0% for the three months ended June 30, 2019 and 2018, respectively. The Company’s effective income tax rate was 21.1% and 20.6% for the six months ended June 30, 2019 and 2018, respectively. The Company’s effective income tax rate for the three and six months ended June 30, 2019 varied from the U.S. statutory rate of 21% primarily due to the impact of state taxes, which was favorably offset by previously acquired tax attributes and excess tax benefits recognized from share-based compensation.

Commitments and Contingencies

6 Months Ended

Jun. 30, 2019

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

(12) 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 proceedings, which were immaterial as of June 30, 2019 and December 31, 2018. 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 June 30, 2019.

Purchase Commitments

The Company has several minimum purchase commitments for project related supplies totaling $10.4 million. In return for the commitment, Medpace receives preferential pricing. The commitments expire at various times through 2026.

Related Party Transactions

6 Months Ended

Jun. 30, 2019

Related Party Transactions

(13) 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 June 30, 2019 and December 31, 2018, 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

Cymabay Therapeutics, Inc. (“Cymabay”)

Cymabay is a clinical-stage biopharmaceutical company developing therapies to treat metabolic diseases with high unmet medical need, including serious rare and orphan disorders. During the first quarter of 2016, it was announced that a Medpace employee would join Cymabay’s board of directors. The Company and Cymabay entered into a MSA dated October 21, 2016. Subsequently, the Company and Cymabay have entered into several task orders for the Company to perform clinical trial related services. During the three and six months ended June 30, 2019, the Company recognized total revenue from Cymabay of $2.8 million and $5.9 million, respectively, and for the three and six months ended June 30, 2018, the Company recognized total revenue from Cymabay of $1.4 million and $2.1 million, respectively, in the Company’s condensed consolidated statements of operations. As of June 30, 2019 and December 31, 2018, respectively, the Company had Advanced billings from Cymabay of $0.8 million and less than $0.1 million recorded in the condensed consolidated balance sheets. In addition, as of June 30, 2019 and December 31, 2018, respectively, the Company had Accounts receivable and unbilled, net from Cymabay of $0.8 million and $2.5 million recorded in the condensed consolidated balance sheets.

LIB Therapeutics LLC and subsidiaries (“LIB”)

Certain executives and employees of the Company, including the chief executive officer, are members of LIB’s board of managers. The Company entered into a MSA dated November 24, 2015 with LIB, a company that engages in research, development, marketing and commercialization of pharmaceutical drugs. Subsequently, the Company and LIB have entered into several task orders for the Company to perform clinical trial related services. During the three and six months ended June 30, 2019, the Company recognized total revenue from LIB of $0.3 million and $1.0 million, respectively, and for the three and six months ended June 30, 2018, the Company recognized total revenue from LIB of $1.0 million and $1.8 million, respectively, in the Company’s condensed consolidated statements of operations. As of June 30, 2019 and December 31, 2018, respectively, the Company had Advanced billings from LIB of $0.5 million and $0.3 million recorded in the condensed consolidated balance sheets. In addition, as of June 30, 2019 and December 31, 2018, respectively, the Company had Accounts receivable and unbilled, net from LIB of $0.6 million and $1.0 million recorded in the condensed consolidated balance sheets.

CinRX Pharma and subsidiaries (“CinRx”)

Certain executives and employees of the Company, including the chief executive officer, are members of CinRx’s board of managers and/or have equity investments in CinRx, a biotech company. The Company and CinRx have entered into several task orders for the Company to perform clinical trial related services. During the three and six months ended June 30, 2019, the Company recognized total revenue from CinRx of $0.9 million and $2.3 million, respectively, and for the three and six months ended June 30, 2018, the Company recognized total revenue from CinRx of $0.2, respectively, in the Company’s consolidated statements of operations. As of June 30, 2019 and December 31, 2018, respectively, the Company had Advanced billings from CinRx of $0.4 million and $0.1 million recorded in the condensed consolidated balance sheets. In addition, as of June 30, 2019 and December 31, 2018 the Company had Accounts receivable and unbilled, net from CinRx of $1.2 million and $0.4 million, respectively, in the consolidated balance sheets.

The Summit, a Dolce Hotel (“The Summit”)

The Summit Hotel, located on the Medpace campus, is owned by the chief executive officer, and managed by an unrelated hospitality management entity. Medpace incurs travel lodging and meeting expenses at The Summit. For the three and six months ended June 30, 2019, Medpace incurred expenses of $0.2 million and $0.3 million, respectively, at The Summit.

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 its corporate headquarters allows for adjustments to the rental rate annually for increases in the consumer price index. Under ASC 842, operating lease expense recognized for the three and six months ended June 30, 2019 was $0.5 million and $1.0 million, respectively. Under ASC 840, lease expense recognized for the three and six months ended June 30, 2018 was $0.6 million and $1.1 million, respectively. The lease expense was allocated between Total direct costs and Selling, general and administrative in the condensed consolidated statements of operations.

In 2018, Medpace, Inc. entered into a multi-year lease agreement governing future occupancy of additional office space in Cincinnati, Ohio. The lease expires in 2040 and the Company has two 10-year options to extend the term of the lease.

ASC 842 – Operating Leases

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. 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 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. Under ASC 842, the Company has determined that the leases are operating leases. Operating lease expense recognized for the three and six months ended June 30, 2019 is $0.9 million and $1.8 million, respectively. The lease expense was allocated between Total direct costs and Selling, general and administrative in the condensed consolidated statements of operations.

ASC 840 – Deemed Assets and Deemed Landlord Liabilities

In accordance with the accounting guidance related to leases under ASC 840, 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 deemed assets were being fully depreciated, on a straight line basis, over the 15-year term of the lease. Deemed landlord liabilities were 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 was 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 and $1.9 million during the three and six months ended June 30, 2018. The current and long-term portions of the Deemed landlord liability at December 31, 2018 were $2.1 million and $24.5 million, respectively. The Company has recognized deemed assets, net of $14.6 million at December 31, 2018 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 $0.2 million during the three months ended June 30, 2019 and 2018, respectively, and $0.6 million during the six months ended June 30, 2019 and 2018, 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. As of December 31, 2018, the Company had Accounts payable due to Reynolds of $0.2 million in the consolidated balance sheets.

Entity Wide Disclosures

6 Months Ended

Jun. 30, 2019

Entity Wide Disclosures [Abstract]

Entity Wide Disclosures

(14) Entity Wide Disclosures

Revenue by Category

The following table disaggregates our revenue by major source (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Therapeutic Area
Oncology	$	64,617	$	43,002	$	120,579	$	86,855
Other		51,943		37,059		103,262		71,276
Metabolic		31,489		29,842		65,231		58,355
AVAI		22,664		20,187		42,588		36,866
Cardiology		22,141		24,508		42,565		48,244
Central Nervous System		16,789		13,113		31,657		26,278
Medical Devices		4,461		2,433		8,963		5,347
Total revenue	$	214,104	$	170,144	$	414,845	$	333,221

Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Unaudited Interim Financial Information

Lease Recognition

Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option as determined at lease commencement.

Many of our lease agreements have both lease and non-lease components, which the Company has elected to treat as a single lease component for recognition purposes.

Recently Adopted Accounting Standards

The impact of the adoption of ASC 842 as of January 1, 2019 is as follows:

ASSETS	As of
	January 1, 2019			Adjustments			December 31, 2018
Current assets:
Prepaid expenses and other current assets		21,013			(370	)		21,383
Total current assets		177,744			(370	)		178,114
Property and equipment, net		37,613			(14,642	)		52,255
Operating lease right-of-use assets		51,854			51,854			-
Total assets	$	1,004,775		$	36,842		$	967,933
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Other current liabilities		10,951			6,090			4,861
Total current liabilities		263,116			6,090			257,026
Operating lease liabilities		45,294			45,294			-
Deemed landlord liability, less current portion		-			(24,484	)		24,484
Deferred income tax liability		3,158			2,719			439
Other long-term liabilities		14,630			(1,930	)		16,560
Total liabilities		405,919			27,689			378,230
Shareholders’ equity:
Accumulated deficit		(32,334	)		9,153			(41,487	)
Total shareholders’ equity		598,856			9,153			589,703
Total liabilities and shareholders’ equity	$	1,004,775		$	36,842		$	967,933

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2019

ASU 2016-02

Summary of Impact of Adoption of Accounting Standards

The impact of the adoption of ASC 842 as of January 1, 2019 is as follows:

ASSETS	As of
	January 1, 2019			Adjustments			December 31, 2018
Current assets:
Prepaid expenses and other current assets		21,013			(370	)		21,383
Total current assets		177,744			(370	)		178,114
Property and equipment, net		37,613			(14,642	)		52,255
Operating lease right-of-use assets		51,854			51,854			-
Total assets	$	1,004,775		$	36,842		$	967,933
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Other current liabilities		10,951			6,090			4,861
Total current liabilities		263,116			6,090			257,026
Operating lease liabilities		45,294			45,294			-
Deemed landlord liability, less current portion		-			(24,484	)		24,484
Deferred income tax liability		3,158			2,719			439
Other long-term liabilities		14,630			(1,930	)		16,560
Total liabilities		405,919			27,689			378,230
Shareholders’ equity:
Accumulated deficit		(32,334	)		9,153			(41,487	)
Total shareholders’ equity		598,856			9,153			589,703
Total liabilities and shareholders’ equity	$	1,004,775		$	36,842		$	967,933

Net Income Per Share (Tables)

6 Months Ended

Jun. 30, 2019

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 and six months ended June 30, 2019 and 2018 (in thousands, except for earnings per share):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Weighted-average shares:
Common shares outstanding		35,839		35,519		35,772		35,503
RSAs		102		144		103		145
Total weighted-average shares		35,941		35,663		35,875		35,648
Earnings per common share—Basic
Net income	$	27,455	$	16,568	$	46,653	$	31,119
Less: Undistributed earnings allocated to RSAs		78		67		134		127
Net income available to common shareholders—Basic	$	27,377	$	16,501	$	46,519	$	30,992

Net income per common share—Basic	$	0.76	$	0.46	$	1.30	$	0.87

Basic weighted-average common shares outstanding		35,839		35,519		35,772		35,503
Effect of diluted shares		1,550		1,145		1,605		1,083
Diluted weighted-average shares outstanding		37,389		36,664		37,377		36,586

Net income per common share—Diluted	$	0.73	$	0.45	$	1.24	$	0.85

Contract Assets and Contract Liabilities (Tables)

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Summary of Company's Contract Asset and Contract Liability

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

	As of
	June 30,			December 31,
	2019			2018
Accounts receivable	$	114,516		$	85,120
Unbilled receivables		36,073			49,361
Less: allowance for doubtful accounts		(729	)		(1,032	)
Total accounts receivable and unbilled, net	$	149,860		$	133,449

Advanced billings consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Advanced billings	$	165,447	$	147,935

Intangible Assets, Net (Tables)

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets, Net

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

	As of
	June 30,			December 31,
	2019			2018
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		3,074			3,074
Total finite-lived intangible assets		275,230			275,230
Accumulated amortization:
Backlog		(72,630	)		(72,630	)
Customer relationships		(116,531	)		(110,636	)
Developed technologies		(54,475	)		(51,751	)
Other		(2,900	)		(2,680	)
Total accumulated amortization		(246,536	)		(237,697	)
Total finite-lived intangible assets, net		28,694			37,533
Trade name (indefinite-lived)		31,646			31,646
Total intangible assets, net	$	60,340		$	69,179

Schedule of Estimated Amortization Expense of Intangible Assets

As of June 30, 2019, 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 2019	$	5,990
2020		7,876
2021		5,114
2022		3,353
2023		2,199
Later years		4,162
	$	28,694

Accrued Expenses (Tables)

6 Months Ended

Jun. 30, 2019

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Employee compensation and benefits	$	25,611	$	31,344
Project related reimbursable expenses		63,218		51,109
Other		4,775		5,040
Total accrued expenses	$	93,604	$	87,493

Debt (Tables)

6 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following (in thousands):

	As of
	June 30,		December 31,
	2019		2018
Term loan	$	-	$	80,438
Less unamortized discount		-		(282	)
Less unamortized term loan debt issuance costs		-		(435	)
Long-term debt, net, less current portion	$	-	$	79,721

- 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense as of June 30, 2019 were as follows (in thousands):

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019

Operating lease cost	$	3,220	$	6,337
Variable lease cost		752		1,346

Summary of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information for the six months ended June 30, 2019 related to the leases was as follows (in thousands):

	Six Months Ended June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	4,686

Right-of-use assets obtained in exchange for lease obligations:
Operating leases		4,561

Summary of Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information as of June 30, 2019 related to the leases was as follows (in thousands):

	As of June 30, 2019

Operating lease right-of-use assets	$	51,809

Other current liabilities	$	10,128
Operating lease liabilities		43,731
Total operating lease liabilities	$	53,859

Weighted Average Remaining Lease Term (years)
Operating leases	6.3
Weighted Average Discount Rate
Operating leases		5.9	%

Schedule of Lease Payments Due Related To Lease Liabilities

Lease payments due related to lease liabilities as of June 30, 2019 were as follows (in thousands):

	Operating Leases
Remainder of 2019	$	6,011
2020		12,489
2021		11,606
2022		9,057
2023		6,808
Later years		19,046
Total lease payments		65,017
Less: imputed interest		(11,158	)
Total	$	53,859

Schedule of Future Minimum Rental Payments for Lease Obligations under ASC 840

Future minimum rental payments for lease obligations with initial terms in excess of one year as of December 31, 2018 are as follows (in thousands):

			Non-Related		Total
	Related Party		Parties Operating		Operating
	Operating Lease		Leases		Leases
2019	$	1,987	$	6,186	$	8,173
2020		6,843		6,617		13,460
2021		6,964		5,873		12,837
2022		6,757		3,694		10,451
2023		5,229		3,257		8,486
Thereafter		103,870		5,752		109,622
Total minimum lease payments	$	131,650	$	31,379	$	163,029

Schedule of Minimum Annual Payments Required in Conjunction with Landlord Liability under ASC 840

Minimum annual payments required in conjunction with the Deemed landlord liabilities as of December 31, 2018 are as follows (in thousands):

	Related Party				Total
	Minimum Lease		Less:		Principal
	Payments		Interest		Amounts Due
2019	$	3,918	$	1,818	$	2,100
2020		3,988		1,662		2,326
2021		4,039		1,490		2,549
2022		4,092		1,301		2,791
2023		4,145		1,095		3,050
Thereafter		15,697		1,929		13,768
Total	$	35,879	$	9,295	$	26,584

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

6 Months Ended

Jun. 30, 2019

Equity [Abstract]

Schedule of Stock Option Activity

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

	Six Months Ended June 30, 2019
				Weighted Average
	Stock Options			Exercise Price
Outstanding - beginning of period		2,945,040		$	24.18
Granted		382,508		$	55.92
Exercised		(228,138	)	$	16.82
Forfeited/Expired		(92,408	)	$	27.50
Outstanding - end of period		3,007,002		$	28.68

Exercisable - end of period		1,303,932		$	26.51

Schedule of RSA/RSU Activity

The following table sets forth the Company’s RSA/RSU activity:

	Six Months Ended
	June 30, 2019
	Shares/Units
Outstanding and unvested - beginning of period		421,200
Granted		167,310
Vested		-
Forfeited		(47,780	)
Outstanding and unvested - end of period		540,730

Cumulative vested shares - end of period		1,913,916

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 June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
Total direct costs	$	1,718	$	901	$	3,278	$	1,744
Selling, general and administrative		3,667		586		5,290		1,210
Total stock-based compensation expense	$	5,385	$	1,487	$	8,568	$	2,954

Entity Wide Disclosures (Tables)

6 Months Ended

Jun. 30, 2019

Entity Wide Disclosures [Abstract]

Summary of Revenue by Major Source

The following table disaggregates our revenue by major source (in thousands):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2019		2018		2019		2018
Therapeutic Area
Oncology	$	64,617	$	43,002	$	120,579	$	86,855
Other		51,943		37,059		103,262		71,276
Metabolic		31,489		29,842		65,231		58,355
AVAI		22,664		20,187		42,588		36,866
Cardiology		22,141		24,508		42,565		48,244
Central Nervous System		16,789		13,113		31,657		26,278
Medical Devices		4,461		2,433		8,963		5,347
Total revenue	$	214,104	$	170,144	$	414,845	$	333,221

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Jan. 01, 2018
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit	$ 14,319	$ (41,487)
Accounts receivable and unbilled, net	149,860	133,449
Deferred income tax liability	4,599	439
Accrued expenses	93,604	87,493
Advanced billings	$ 165,447	$ 147,935
ASC 606 \| Impact of Adoption of ASC 606 - Adjustments
Summary Of Significant Accounting Policies [Line Items]
Accumulated deficit			$ 5,700
Accounts receivable and unbilled, net			23,900
Deferred income tax liability			(1,600)
Accrued expenses			35,100
Pre-funded study costs			(57,400)
Advanced billings			$ 38,900

Summary of Significant Accounting Policies - Summary of Impact of Adoption of Accounting Standards (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Current assets:
Prepaid expenses and other current assets	$ 24,386			$ 21,383
Total current assets	194,344			178,114
Property and equipment, net	39,749			52,255
Operating lease right-of-use assets	51,809			0
Total assets	1,016,861			967,933
Current liabilities:
Other current liabilities	14,331			4,861
Total current liabilities	296,073			257,026
Operating lease liabilities	43,731			0
Deemed landlord liability, less current portion	0			24,484
Deferred income tax liability	4,599			439
Other long-term liabilities	14,403			16,560
Total liabilities	358,806			378,230
Shareholders’ equity:
Accumulated deficit	14,319			(41,487)
Total shareholders’ equity	658,055	$ 621,897		589,703	$ 543,127	$ 526,473	$ 503,530
Total liabilities and shareholders’ equity	$ 1,016,861			$ 967,933
ASU 2016-02
Current assets:
Prepaid expenses and other current assets			$ 21,013
Total current assets			177,744
Property and equipment, net			37,613
Operating lease right-of-use assets			51,854
Total assets			1,004,775
Current liabilities:
Other current liabilities			10,951
Total current liabilities			263,116
Operating lease liabilities			45,294
Deemed landlord liability, less current portion			0
Deferred income tax liability			3,158
Other long-term liabilities			14,630
Total liabilities			405,919
Shareholders’ equity:
Accumulated deficit			(32,334)
Total shareholders’ equity			598,856
Total liabilities and shareholders’ equity			1,004,775
ASU 2016-02 \| Adjustments
Current assets:
Prepaid expenses and other current assets			(370)
Total current assets			(370)
Property and equipment, net			(14,642)
Operating lease right-of-use assets			51,854
Total assets			36,842
Current liabilities:
Other current liabilities			6,090
Total current liabilities			6,090
Operating lease liabilities			45,294
Deemed landlord liability, less current portion			(24,484)
Deferred income tax liability			2,719
Other long-term liabilities			(1,930)
Total liabilities			27,689
Shareholders’ equity:
Accumulated deficit			9,153
Total shareholders’ equity			9,153
Total liabilities and shareholders’ equity			$ 36,842

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				6 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018
Weighted-average shares:
Basic weighted-average common shares outstanding	35,839		35,519		35,772	35,503
Total weighted-average shares	35,941		35,663		35,875	35,648
Earnings per common share—Basic
Net income	$ 27,455	$ 19,198	$ 16,568	$ 14,551	$ 46,653	$ 31,119
Net income available to common shareholders—Basic	$ 27,377		$ 16,501		$ 46,519	$ 30,992
Net income per common share—Basic	$ 0.76		$ 0.46		$ 1.30	$ 0.87
Basic weighted-average common shares outstanding	35,839		35,519		35,772	35,503
Effect of diluted shares	1,550		1,145		1,605	1,083
Diluted weighted-average shares outstanding	37,389		36,664		37,377	36,586
Net income per common share—Diluted	$ 0.73		$ 0.45		$ 1.24	$ 0.85
RSAs
Weighted-average shares:
Basic weighted-average common shares outstanding	102		144		103	145
Earnings per common share—Basic
Less: Undistributed earnings allocated to RSAs	$ 78		$ 67		$ 134	$ 127
Basic weighted-average common shares outstanding	102		144		103	145
Common Stock
Weighted-average shares:
Basic weighted-average common shares outstanding	35,839		35,519		35,772	35,503
Earnings per common share—Basic
Basic weighted-average common shares outstanding	35,839		35,519		35,772	35,503

Net Income Per Share - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted EPS	30,500	24,381	0	56,881

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair value measurements transfers between level 1, level 2 or level 3	$ 0	$ 0	$ 0	$ 0

Contract Assets and Contract Liabilities - Summary of Accounts Receivable and Unbilled, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Accounts receivable	$ 114,516	$ 85,120
Unbilled receivables	36,073	49,361
Less: allowance for doubtful accounts	(729)	(1,032)
Total accounts receivable and unbilled, net	$ 149,860	$ 133,449

Contract Assets and Contract Liabilities - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Unbilled receivables	$ 36,073	$ 49,361
Advanced billings	165,447	$ 147,935
Performance obligations remaining to be performed	$ 1,286,600

Contract Assets and Contract Liabilities - Summary of Advanced Billings (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Advanced billings	$ 165,447	$ 147,935

Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite-lived intangible assets:
Total finite-lived intangible assets	$ 275,230	$ 275,230
Accumulated amortization:
Total accumulated amortization	(246,536)	(237,697)
Total finite-lived intangible assets, net	28,694	37,533
Trade name (indefinite-lived)	31,646	31,646
Total intangible assets, net	60,340	69,179
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	(116,531)	(110,636)
Developed Technologies
Finite-lived intangible assets:
Total finite-lived intangible assets	54,475	54,475
Accumulated amortization:
Total accumulated amortization	(54,475)	(51,751)
Other
Finite-lived intangible assets:
Total finite-lived intangible assets	3,074	3,074
Accumulated amortization:
Total accumulated amortization	$ (2,900)	$ (2,680)

Intangible Assets, Net - Schedule of Estimated Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 5,990
2020	7,876
2021	5,114
2022	3,353
2023	2,199
Later years	4,162
Total finite-lived intangible assets, net	$ 28,694	$ 37,533

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Accrued Liabilities And Other Liabilities [Abstract]
Employee compensation and benefits	$ 25,611	$ 31,344
Project related reimbursable expenses	63,218	51,109
Other	4,775	5,040
Total accrued expenses	$ 93,604	$ 87,493

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Less unamortized discount	$ 0	$ (282)
Long-term debt, net, less current portion	0	79,721
Term loan
Debt Instrument [Line Items]
Debt	0	80,438
Less unamortized term loan debt issuance costs	$ 0	$ (435)

Debt - Additional Information (Details) - Senior Secured Credit Agreement - Senior Secured Term Loan Facility $ in Millions	3 Months Ended
	Jun. 30, 2019 USD ($)
Selling, General and Administrative Expenses
Debt Instrument [Line Items]
Unamortized term loan issuance fees	$ 0.3
Interest Expense, Net
Debt Instrument [Line Items]
Amortization of debt discount	$ 0.2

Leases - Additional Information (Details) $ in Millions	3 Months Ended	6 Months Ended
Leases - Additional Information (Details) $ in Millions	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) Option	Jun. 30, 2018 USD ($)
Lessee Lease Description [Line Items]
Rent expense under ASC 840	$ 2.2		$ 4.6
Real Estate and Equipment
Lessee Lease Description [Line Items]
Lease renewal term, operating lease		20 years
Description of option to extend the lease		Many of the Company’s leases include options to extend the leases on a month to month basis or for set periods for up to 20 years.
Operating lease, existense of option to extend		true
Description of option to terminate the lease		Many leases also include options to terminate the leases within 1 year or per other contractual terms.
Lessee, operating lease, existence of option to terminate		true
Real Estate and Equipment \| Minimum
Lessee Lease Description [Line Items]
Remaining lease term, operating lease		1 year
Real Estate and Equipment \| Maximum
Lessee Lease Description [Line Items]
Remaining lease term, operating lease		20 years
Operating lease, options to terminate lease term		1 year
Corporate Offices
Lessee Lease Description [Line Items]
Initial term of operating lease not yet commenced		20 years
Lease not yet commenced, option to extend		true
Lease not yet commenced, option to extend description		renewal option for two 10-year terms at prevailing market rates
Operating lease not yet commenced, renewal term		10 years
Operating lease not yet commenced, number of renewal option \| Option		2
Operating lease not yet commenced, future payments		$ 124.0

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Lease Cost [Abstract]
Operating lease cost	$ 3,220	$ 6,337
Variable lease cost	$ 752	$ 1,346

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 4,686
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 4,561

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets And Liabilities Lessee [Abstract]
Operating lease right-of-use assets	$ 51,809	$ 0
Other current liabilities	$ 10,128
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent
Operating lease liabilities	$ 43,731	$ 0
Total operating lease liabilities	$ 53,859
Weighted Average Remaining Lease Term (years)
Operating leases	6 years 3 months 18 days
Weighted Average Discount Rate
Operating leases	5.90%

Leases - Schedule of Lease Payments Due Related To Lease Liabilities (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Operating Lease Liabilities Payments Due [Abstract]
Remainder of 2019	$ 6,011
2020	12,489
2021	11,606
2022	9,057
2023	6,808
Later years	19,046
Total lease payments	65,017
Less: imputed interest	(11,158)
Total	$ 53,859

Leases - Schedule of Future Minimum Rental Payments for Lease Obligations under ASC 840 (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Operating Leased Assets [Line Items]
Operating Leases, 2019	$ 8,173
Operating Leases, 2020	13,460
Operating Leases, 2021	12,837
Operating Leases, 2022	10,451
Operating Leases, 2023	8,486
Operating Leases, Thereafter	109,622
Operating Leases, Total minimum lease payments	163,029
Related Party
Operating Leased Assets [Line Items]
Operating Leases, 2019	1,987
Operating Leases, 2020	6,843
Operating Leases, 2021	6,964
Operating Leases, 2022	6,757
Operating Leases, 2023	5,229
Operating Leases, Thereafter	103,870
Operating Leases, Total minimum lease payments	131,650
Non-Related Party
Operating Leased Assets [Line Items]
Operating Leases, 2019	6,186
Operating Leases, 2020	6,617
Operating Leases, 2021	5,873
Operating Leases, 2022	3,694
Operating Leases, 2023	3,257
Operating Leases, Thereafter	5,752
Operating Leases, Total minimum lease payments	$ 31,379

Leases - Schedule of Minimum Annual Payments Required in Conjunction with Landlord Liability under ASC 840 (Details) - Deemed Landlord Liabilities $ in Thousands	Dec. 31, 2018 USD ($)
Schedule Of Capital Leased Assets [Line Items]
Related Party Minimum Lease Payments, 2019	$ 3,918
Related Party Minimum Lease Payments, 2020	3,988
Related Party Minimum Lease Payments, 2021	4,039
Related Party Minimum Lease Payments, 2022	4,092
Related Party Minimum Lease Payments, 2023	4,145
Related Party Minimum Lease Payments, Thereafter	15,697
Related Party Minimum Lease Payments, Total	35,879
Related Party Minimum Lease Payments, Interest, 2019	1,818
Related Party Minimum Lease Payments, Interest, 2020	1,662
Related Party Minimum Lease Payments, Interest, 2021	1,490
Related Party Minimum Lease Payments, Interest, 2022	1,301
Related Party Minimum Lease Payments, Interest, 2023	1,095
Related Party Minimum Lease Payments, Interest, Thereafter	1,929
Related Party Minimum Lease Payments, Interest, Total	9,295
Total Principal Amounts Due, 2019	2,100
Total Principal Amounts Due, 2020	2,326
Total Principal Amounts Due, 2021	2,549
Total Principal Amounts Due, 2022	2,791
Total Principal Amounts Due, 2023	3,050
Total Principal Amounts Due, Thereafter	13,768
Total Principal Amounts Due, Total	$ 26,584

Shareholder's Equity and Stock-Based Compensation - Additional Information (Details) - shares	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	382,508
2016 Incentive Award Plan \| Granted to Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted to employees	510,986	537,000
2016 Incentive Award Plan \| Vesting After Four Years \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	5,000	439,000
Award vesting period	4 years	4 years
2016 Incentive Award Plan \| Vesting After Four Years \| Restricted Stock Units (RSU)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award vesting period	4 years	4 years
Shares granted	167,310	98,000
2016 Incentive Award Plan \| Vesting After One Year
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	5,000
Award vesting period	1 year
2016 Incentive Award Plan \| Vesting After One Year \| Non-employee Directors
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	38,832	24,381
Award vesting period	1 year	1 year
2016 Incentive Award Plan \| Fully-vested Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	311,676
2016 Incentive Award Plan \| Vesting in Twelve Equal Monthly Installments
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	22,000

Shareholder's Equity and Stock-Based Compensation - Schedule of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2019 $ / shares shares
Equity [Abstract]
Number of Stock Options, Outstanding - beginning of period \| shares	2,945,040
Number of Stock Options, Granted \| shares	382,508
Number of Stock Options, Exercised \| shares	(228,138)
Number of Stock Options, Forfeited/Expired \| shares	(92,408)
Number of Stock Options, Outstanding - end of period \| shares	3,007,002
Number of Stock Options, Exercisable - end of period \| shares	1,303,932
Weighted Average Exercise Price, Outstanding - beginning of Period \| $ / shares	$ 24.18
Weighted Average Exercise Price, Granted \| $ / shares	55.92
Weighted Average Exercise Price, Exercised \| $ / shares	16.82
Weighted Average Exercise Price, Forfeited/Expired \| $ / shares	27.50
Weighted Average Exercise Price, Outstanding - end of period \| $ / shares	28.68
Weighted Average Exercise Price, Exercisable - end of period \| $ / shares	$ 26.51

Shareholder's Equity and Stock-Based Compensation - Schedule of RSA/RSU Activity (Details) - RSA/RSU	6 Months Ended
	Jun. 30, 2019 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding and unvested - beginning of period	421,200
Granted	167,310
Vested	0
Forfeited	(47,780)
Outstanding and unvested - end of period	540,730
Cumulative vested shares - end of period	1,913,916

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 5,385	$ 1,487	$ 8,568	$ 2,954
Total Direct Costs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	1,718	901	3,278	1,744
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 3,667	$ 586	$ 5,290	$ 1,210

Income Taxes - Additional Information (Details)	3 Months Ended		6 Months Ended
Income Taxes - Additional Information (Details)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	20.40%	23.00%	21.10%	20.60%
U.S. statutory rate	21.00%		21.00%

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Minimum purchase commitments for project related supplies	$ 10.4
Minimum purchase commitments, description	The Company has several minimum purchase commitments for project related supplies totaling $10.4 million. In return for the commitment, Medpace receives preferential pricing. The commitments expire at various times through 2026.

Related Party Transactions - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) RenewalOption Agreement Building	Jun. 30, 2018 USD ($)	Dec. 31, 2018 USD ($) RenewalOption
Related Party Transaction [Line Items]
Advanced billings	$ 1,600		$ 1,600		$ 400
Accounts receivable and unbilled, net	2,600		2,600		3,800
Lease expense recognized under 840		$ 2,200		$ 4,600
Deemed landlord liability, long-term portions, under ASC 840	0		0		24,484
Accounts payable due to related party	100		100		300
Employee Loans \| Prepaid Expenses and Other Current Assets and Other Assets
Related Party Transaction [Line Items]
Employee advances receivables	200		200		200
Service Agreements \| Cymabay
Related Party Transaction [Line Items]
Advanced billings	800		800
Accounts receivable and unbilled, net	800		800		2,500
Service Agreements \| Cymabay \| Maximum
Related Party Transaction [Line Items]
Advanced billings					100
Service Agreements \| Cymabay \| Revenue Net
Related Party Transaction [Line Items]
Revenue with related parties	2,800	1,400	5,900	2,100
Service Agreements \| LIB
Related Party Transaction [Line Items]
Advanced billings	500		500		300
Accounts receivable and unbilled, net	600		600		1,000
Service Agreements \| LIB \| Revenue Net
Related Party Transaction [Line Items]
Revenue with related parties	300	1,000	1,000	1,800
Service Agreements \| CinRx Pharma and Subsidiaries
Related Party Transaction [Line Items]
Advanced billings	400		400		100
Accounts receivable and unbilled, net	1,200		1,200		$ 400
Service Agreements \| CinRx Pharma and Subsidiaries \| Revenue Net
Related Party Transaction [Line Items]
Revenue with related parties	900	200	2,300	200
Service Agreements \| The Summit
Related Party Transaction [Line Items]
Expenses incurred	$ 200		$ 300
Leased Real Estate
Related Party Transaction [Line Items]
Number of lease renewal, option \| RenewalOption					2
Lease term upon renewal					10 years
Lease expiration year					2040
Deemed assets, term of lease under ASC 840					15 years
Related party capital lease payments under ASC 840		900		1,900
Deemed landlord liability, current, under ASC 840					$ 2,100
Deemed landlord liability, long-term portions, under ASC 840					24,500
Leased Real Estate \| Chief Executive Officer
Related Party Transaction [Line Items]
Term of lease	12 years		12 years
Lease expiration period			2022-11
Number of lease renewal, option \| RenewalOption			1
Lease term upon renewal	10 years		10 years
Operating lease expense recognized	$ 500		$ 1,000
Lease expense recognized under 840		600		1,100
Leased Real Estate \| Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Number of lease renewal, option \| RenewalOption			1
Lease term upon renewal	10 years		10 years
Operating lease expense recognized	$ 900		$ 1,800
Lease expiration year			2027
Number of lease agreements \| Agreement			2
Number of buildings \| Building			2
Lease occupancy year			2012
Existense of option to extend			true
Description of option to extend			Company having one 10-year option to extend the lease term
Leased Real Estate \| Property and Equipment, Net \| Building
Related Party Transaction [Line Items]
Deemed assets, net, under ASC 840					14,600
Travel Services \| Chief Executive Officer
Related Party Transaction [Line Items]
Travel expenses with related party	$ 300	$ 200	$ 600	$ 600
Accounts payable due to related party					$ 200

Entity Wide Disclosures - Summary of Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenue	$ 214,104	$ 170,144	$ 414,845	$ 333,221
Oncology
Disaggregation Of Revenue [Line Items]
Total revenue	64,617	43,002	120,579	86,855
Other
Disaggregation Of Revenue [Line Items]
Total revenue	51,943	37,059	103,262	71,276
Metabolic
Disaggregation Of Revenue [Line Items]
Total revenue	31,489	29,842	65,231	58,355
AVAI
Disaggregation Of Revenue [Line Items]
Total revenue	22,664	20,187	42,588	36,866
Cardiology
Disaggregation Of Revenue [Line Items]
Total revenue	22,141	24,508	42,565	48,244
Central Nervous System
Disaggregation Of Revenue [Line Items]
Total revenue	16,789	13,113	31,657	26,278
Medical Devices
Disaggregation Of Revenue [Line Items]
Total revenue	$ 4,461	$ 2,433	$ 8,963	$ 5,347