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MEDPACE FOR IMMEDIATE RELEASE Medpace Holdings , Inc. Reports Second Quarter 2021 Results Investor Contact : Lauren Morris 513.579.9911 x11994 1.morris@medpace.com Media Contact : Julie Hopkins 513.579.9911 x12627 j.hopkins@medpace.com Revenue of $ 278.3 million in the second quarter of 2021 increased 35.8 % from revenue of $ 205.0 million for the comparable prior - year period , representing a backlog conversion rate of 17.1 % . Net new business awards were $ 387.6 million in the second quarter of 2021 , representing an increase of 52.5 % from net new business awards of $ 254.1 million for the comparable prior - year period , which resulted in a net book - to - bill ratio of 1.39x . Second quarter of 2021 GAAP net income was $ 39.9 million , or $ 1.06 per diluted share , versus GAAP net income of $ 24.1 million , or $ 0.64 per diluted share , for the comparable prior - year period . Net income margin was 14.3 % and 11.8 % for the second quarter of 2021 and 2020 , respectively . EBITDA was $ 47.9 million for the second quarter of 2021 , an increase of 36.9 % from EBITDA of $ 35.0 million for the comparable prior - year period , resulting in an EBITDA margin of 17.2 % . CINCINNATI , OHIO , July 26 , 2021-- Medpace Holdings , Inc. ( Nasdaq : MEDP ) ( “ Medpace " ) today announced financial results for the second quarter ended June 30 , 2021 . Second Quarter 2021 Financial Results Revenue for the three months ended June 30 , 2021 increased 35.8 % to $ 278.3 million , compared to $ 205.0 million for the comparable prior - year period . On a constant currency organic basis , revenue for the second quarter of 2021 increased 34.4 % compared to the second quarter of 2020 . Backlog as of June 30 , 2021 grew 29.8 % to $ 1.7 billion from $ 1.3 billion as of June 30 , 2020. Net new business awards were $ 387.6 million , representing a net book - to - bill ratio of 1.39x for the second quarter of 2021 , as compared to $ 254.1 million for the comparable prior - year period . The Company calculates the net book - to - bill ratio by dividing net new business awards by revenue . For the second quarter of 2021 , total direct costs were $ 203.6 million , compared to total direct costs of $ 148.4 million in the second quarter of 2020. Selling , general and administrative ( SG & A ) expenses were $ 27.0 million in the second quarter of 2021 , compared to SG & A expenses of $ 21.9 million in the second quarter of 2020 . GAAP net income for the second quarter of 2021 was $ 39.9 million , or $ 1.06 per diluted share , versus GAAP net income of $ 24.1 million , or $ 0.64 per diluted share , for the second quarter of 2020. This resulted in a net income margin of 14.3 % and 11.8 % for the second quarter of 2021 and 2020 , respectively . EBITDA for the second quarter of 2021 increased 36.9 % to $ 47.9 million , or 17.2 % of revenue , compared to $ 35.0 million , or 17.1 % of revenue , for the comparable prior - year period . On a constant currency basis , EBITDA for the second quarter of 2021 increased 41.5 % from the second quarter of 2020 . 1 A reconciliation of the Company's non - GAAP financial measures , including EBITDA and EBITDA margin to the corresponding GAAP measures is provided below .