Medpace (MEDP) 10-Q 27 Apr 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	Apr. 23, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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	Large Accelerated Filer
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		35,972,156
Entity File Number	001-37856
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	32-0434904
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
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock $0.01 par value
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 332,877	$ 277,766
Accounts receivable and unbilled, net (includes $2.2 million and $2.6 million with related parties at March 31, 2021 and December 31, 2020, respectively)	159,997	160,962
Prepaid expenses and other current assets	40,506	34,923
Total current assets	533,380	473,651
Property and equipment, net	84,504	85,017
Operating lease right-of-use assets	112,266	113,809
Goodwill	662,396	662,396
Intangible assets, net	45,196	46,474
Deferred income taxes	556	536
Other assets	13,062	8,794
Total assets	1,451,360	1,390,677
Current liabilities:
Accounts payable (includes $0.1 million and $0.2 million with related parties at March 31, 2021 and December 31, 2020, respectively)	21,348	26,552
Accrued expenses	123,608	134,367
Advanced billings (includes $6.1 million and $6.5 million with related parties at March 31, 2021 and December 31, 2020, respectively)	277,807	255,664
Other current liabilities	24,543	23,527
Total current liabilities	447,306	440,110
Operating lease liabilities	114,144	115,143
Deferred income tax liability	14,876	13,551
Other long-term liabilities	16,107	16,094
Total liabilities	592,433	584,898
Commitments and contingencies (see Note 11)
Shareholders’ equity:
Preferred stock - $0.01 par-value; 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	0	0
Common stock - $0.01 par-value; 250,000,000 shares authorized at March 31, 2021 and December 31, 2020, respectively; 35,926,158 and 35,519,989 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	359	355
Treasury stock - 185,000 shares at March 31, 2021 and December 31, 2020, respectively	(5,578)	(5,578)
Additional paid-in capital	707,877	695,904
Retained earnings	158,535	115,229
Accumulated other comprehensive loss	(2,266)	(131)
Total shareholders’ equity	858,927	805,779
Total liabilities and shareholders’ equity	$ 1,451,360	$ 1,390,677

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Accounts receivable, unbilled services with related parties	$ 2.2	$ 2.6
Accounts payable includes related parties	0.1	0.2
Advanced billings with related parties	$ 6.1	$ 6.5
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	35,926,158	35,519,989
Common stock shares outstanding	35,926,158	35,519,989
Treasury stock shares	185,000	185,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue, net (includes $5.3 million and $5.5 million with related parties for the three months ended March 31, 2021 and 2020, respectively)	$ 259,965	$ 230,879
Operating expenses:
Total direct costs	181,538	165,801
Selling, general and administrative	25,738	25,124
Depreciation	3,812	2,453
Amortization	1,278	1,997
Total operating expenses	212,366	195,375
Income from operations	47,599	35,504
Other income, net:
Miscellaneous income, net	924	617
Interest (expense) income, net	(14)	357
Total other income, net	910	974
Income before income taxes	48,509	36,478
Income tax provision	5,203	7,524
Net income	$ 43,306	$ 28,954
Net income per share attributable to common shareholders:
Basic	$ 1.21	$ 0.80
Diluted	$ 1.14	$ 0.76
Weighted average common shares outstanding:
Basic	35,753	36,024
Diluted	37,749	38,030
Direct Costs
Operating expenses:
Total direct costs	$ 101,387	$ 88,795
Reimbursable Out of Pocket Costs
Operating expenses:
Total direct costs	$ 80,151	$ 77,006

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue Net
Revenue with related parties	$ 5.3	$ 5.5

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 43,306	$ 28,954
Other comprehensive income
Foreign currency translation adjustments, net of taxes	(2,135)	(988)
Comprehensive income	$ 41,171	$ 27,966

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (UNAUDITED) - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance at Dec. 31, 2019	$ 726,283	$ 360	$ (6,030)	$ 666,585	$ 68,109	$ (2,741)
Net income	28,954				28,954
Foreign currency translation	(988)					(988)
Stock-based compensation expense	5,445			5,445
Stock options exercised	1,343	1		1,342
Repurchases of common stock	(43,238)	(6)			(43,232)
Balance at Mar. 31, 2020	717,799	355	(6,030)	673,372	53,831	(3,729)
Balance at Dec. 31, 2020	805,779	355	(5,578)	695,904	115,229	(131)
Net income	43,306				43,306
Foreign currency translation	(2,135)					(2,135)
Stock-based compensation expense	2,871			2,871
Stock options exercised	9,106	4		9,102
Balance at Mar. 31, 2021	$ 858,927	$ 359	$ (5,578)	$ 707,877	$ 158,535	$ (2,266)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 43,306	$ 28,954
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	3,812	2,453
Amortization	1,278	1,997
Stock-based compensation expense	2,871	5,445
Noncash lease expense	3,903	2,917
Deferred income tax provision	1,289	1,079
Amortization and adjustment of deferred credit	(167)	(181)
Other	124	(67)
Changes in assets and liabilities:
Accounts receivable and unbilled, net	1,089	19,301
Prepaid expenses and other current assets	(6,073)	(2,694)
Accounts payable	(2,638)	(6,809)
Accrued expenses	(10,043)	(1,757)
Advanced billings	22,143	(2,695)
Lease liabilities	(3,155)	(2,236)
Other assets and liabilities, net	(420)	3,441
Net cash provided by operating activities	57,319	49,148
CASH FLOWS FROM INVESTING ACTIVITIES:
Property and equipment expenditures	(6,507)	(5,561)
Other	(3,144)	39
Net cash used in investing activities	(9,651)	(5,522)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from stock option exercises	9,102	1,331
Repurchases of common stock	0	(41,776)
Net cash provided by (used in) financing activities	9,102	(40,445)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(1,659)	(1,102)
INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	55,111	2,079
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period	277,766	131,920
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period	$ 332,877	$ 133,999

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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, 2020 Share Repurchases In the first quarter of 2018, the Board of Directors approved a share repurchase program authorizing up to $50.0 million in share repurchases. In the first quarter of 2020, the Board of Directors approved an increase in the stock repurchase authorization by $50.0 million. In the fourth quarter of 2020, the Board approved the stock repurchase authorization up to $150.0 million. During the quarter ended March 31, 2020, the Company repurchased 661,637 shares for $43.2 million. As of March 31, 2021, we have remaining authorization of $102.6 million remaining under the repurchase program. Repurchases under the share repurchase program are executed in the open market or negotiated transactions under trading plans put in place pursuant to Rule 10b5-1. The Company constructively retired the repurchased shares associated with these approved share repurchases, with all amounts paid in excess of par value reflected within Retained earnings in the Company’s condensed consolidated balance sheets. The repurchase program may be suspended or discontinued at any time without notice. Supplemental Cash Flow Disclosure During the three months ended March 31, 2020, the company engaged in a non-cash financing activity of $1.4 million related to share repurchases executed, but not yet paid as of March 31, 2020. Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” intended to provide financial statement users with more decision-useful information about expected credit losses and other commitments to extend credit held by the reporting entity. The standard replaces the incurred loss impairment methodology with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. The Company adopted this standard in the first quarter of 2020 and it had no material impact to the condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes.” The new guidance includes several provisions to reduce the complexity of accounting for income taxes for financial reporting purposes and increasing consistency and clarity for financial statement readers. The new guidance is effective for public entities for fiscal years, and the related interim periods, beginning after December 15, 2020. The Company adopted this standard in the first quarter of 2021 and it has no material impact on the condensed consolidated financial statements.

Net Income Per Share

Net Income Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Share	(2) Net Income Per Share Basic and diluted earnings or loss per share (“EPS”) are computed using the two-class method, which is an earnings allocation that determines EPS for each class of common stock and participating securities according to dividends declared and participation rights in undistributed earnings. The Company’s Restricted Stock Awards (“RSA”) 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 Restricted Stock Units (“RSU”) and 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. This assumes that additional shares would have to be issued in cases where the exercise price of stock options is less than the value of the common stock being acquired because the cash proceeds received from the stock option holder would not be sufficient to acquire that same number of shares. The Company does not compute diluted EPS in cases where the inclusion of such additional shares would be anti-dilutive in effect. The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands, except for earnings per share): Three Months Ended March 31, 2021 2020 Weighted-average shares: Common shares outstanding 35,753 36,024 RSAs 116 95 Total weighted-average shares 35,869 36,119 Earnings per common share—Basic Net income $ 43,306 $ 28,954 Less: Undistributed earnings allocated to RSAs 140 76 Net income available to common shareholders—Basic $ 43,166 $ 28,878 Net income per common share—Basic $ 1.21 $ 0.80 Basic weighted-average common shares outstanding 35,753 36,024 Effect of diluted shares 1,996 2,006 Diluted weighted-average shares outstanding 37,749 38,030 Net income per common share—Diluted $ 1.14 $ 0.76 During the three months ended March 31, 2021 and 2020, the Company had 0 and 439,405 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

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	(3) Fair Value Measurements The Company follows accounting guidance related to fair value measurements that defines fair value, establishes a framework for measuring fair value, and establishes a hierarchy for inputs used in measuring fair value. This hierarchy maximizes the use of “observable” inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. The hierarchy specifies three levels based on the inputs, as follows: Level 1: Valuations based on quoted prices in active markets for identical assets or liabilities. Level 2: Valuations based on directly observable inputs or unobservable inputs corroborated by market data. Level 3: Valuations based on unobservable inputs supported by little or no market activity representing management’s determination of assumptions of how market participants would price the assets or liabilities. The fair value of financial instruments such as cash and cash equivalents, accounts receivable and unbilled, net, accounts payable, accrued expenses and advanced billings approximate their carrying amounts due to their short term maturities. The Company does not have any recurring fair value measurements as of March 31, 2021. There were no transfers between Level 1, Level 2 or Level 3 during the three months ended March 31, 2021 or 2020.

Contract Assets and Contract Li

Contract Assets and Contract Liabilities	3 Months Ended
	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Contract Assets and Contract Liabilities	(4) 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 March 31, December 31, 2021 2020 Accounts receivable $ 131,918 $ 137,912 Unbilled receivables 28,425 23,396 Less: allowance for doubtful accounts (346 ) (346 ) Total accounts receivable and unbilled, net $ 159,997 $ 160,962 Contract Liabilities Advanced billings represent 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 March 31, December 31, 2021 2020 Advanced billings $ 277,807 $ 255,664 As of March 31, 2021, we had approximately $1.8 billion of performance obligations remaining to be performed for active projects.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets, Net	(5) Intangible Assets, Net Intangible assets, net consisted of the following (in thousands): As of March 31, December 31, 2021 2020 Intangible assets: Finite-lived intangible assets: Carrying amount: Customer relationships 145,051 145,051 Accumulated amortization: Customer relationships (131,501 ) (130,223 ) Total finite-lived intangible assets, net 13,550 14,828 Trade name (indefinite-lived) 31,646 31,646 Total intangible assets, net $ 45,196 $ 46,474 As of March 31, 2021, 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 2021 $ 3,836 2022 3,353 2023 2,199 2024 1,443 2025 946 Later years 1,773 $ 13,550

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Accrued Expenses	(6) Accrued Expenses Accrued expenses consisted of the following (in thousands): As of March 31, December 31, 2021 2020 Employee compensation and benefits $ 29,004 $ 40,208 Project related reimbursable expenses 86,044 87,092 Other 8,560 7,067 Total accrued expenses $ 123,608 $ 134,367

Debt

Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Debt	(7) Debt On September 30, 2019, the Company obtained an unsecured credit facility in an aggregate principal amount up to $50.0 million (the “Credit Facility”) through its wholly owned subsidiaries, Medpace, Inc., as borrower, and Medpace IntermediateCo, Inc., as guarantor. Outstanding balances under the Credit Facility bear interest at a rate of LIBOR plus 100 basis points (1.00%). On March 29, 2021, the Company amended the credit facility expiration date to March 31, 2022. As of March 31, 2021, there were no outstanding borrowings under the Credit Facility and $0.2 million in letters of credit outstanding related to certain operating lease obligations, which are secured by the Credit Facility.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	(8) 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 19 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 were as follows (in thousands): Three Months Ended March 31, 2021 2020 Operating lease cost $ 5,730 $ 3,768 Variable lease cost 1,704 886 Supplemental cash flow information related to the leases was as follows (in thousands): Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,422 $ 2,600 Right-of-use assets obtained in exchange for lease obligations: Operating leases 2,672 10,076 Supplemental balance sheet information related to the leases was as follows (in thousands): As of March 31, December 31, 2021 2020 Operating lease right-of-use assets $ 112,266 $ 113,809 Other current liabilities $ 16,111 $ 15,890 Operating lease liabilities 114,144 115,143 Total operating lease liabilities $ 130,255 $ 131,033 Weighted Average Remaining Lease Term (years) Operating leases 12.7 12.9 Weighted Average Discount Rate Operating leases 5.8 % 5.9 % Lease payments due related to lease liabilities as of March 31, 2021 were as follows (in thousands): Related Party Non-Related Parties Total Operating Leases Operating Leases Operating Leases Remainder of 2021 $ 7,892 $ 9,534 $ 17,426 2022 10,301 9,259 19,560 2023 8,771 7,957 16,728 2024 8,900 5,872 14,772 2025 9,032 4,350 13,382 Later years 103,006 9,195 112,201 Total lease payments 147,902 46,167 194,069 Less: imputed interest (58,422 ) (5,392 ) (63,814 ) Total $ 89,480 $ 40,775 $ 130,255

Shareholder's Equity and Stock-

Shareholder's Equity and Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Shareholder's Equity and Stock-Based Compensation	(9) Shareholder’s Equity and Stock-Based Compensation The Company granted no awards to employees under the 2016 Incentive Award Plan during the three months ended March 31, 2021. The Company granted 312,897 awards to employees under the 2016 Incentive Award Plan during the three months ended March 31, 2020, consisting of 20,724 RSA and 92,768 restricted stock units RSU vesting after four years, and 199,405 fully-vested stock option awards. Award Activity The following table sets forth the Company’s stock option activity: Three Months Ended March 31, 2021 Weighted Stock Options Exercise Price Outstanding - beginning of period 2,500,727 $ 43.26 Granted - $ - Exercised (406,169 ) $ 22.42 Forfeited/Expired (12,000 ) $ 57.94 Outstanding - end of period 2,082,558 $ 47.24 Exercisable - end of period 1,564,110 $ 49.66 The following table sets forth the Company’s RSA/RSU activity: Three Months Ended March 31, 2021 Shares/Units Outstanding and unvested - beginning of period 695,562 Granted - Vested - Forfeited (13,935 ) Outstanding and unvested - end of period 681,627 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 March 31, 2021 2020 Total direct costs $ 2,047 $ 2,006 Selling, general and administrative 824 3,439 Total stock-based compensation expense $ 2,871 $ 5,445

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	(10) Income Taxes The Company’s effective income tax rate was 10.7% and 20.6% for the three months ended March 31, 2021 and 2020, respectively. The Company’s effective income tax rate for the three months ended March 31, 2021 varied from the U.S. statutory rate of 21% primarily due to the impact of state taxes, which was favorably offset by tax benefits related to Foreign Derived Intangible Income (FDII) and excess tax benefits recognized from share-based compensation.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	(11) 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 March 31, 2021 and December 31, 2020. There is a reasonable possibility that a loss exceeding amounts already recognized may be incurred related to these actions; however, the Company believes that such potential losses were immaterial as of March 31, 2021. Purchase Commitments The Company has several minimum purchase commitments for project related supplies totaling $12.6 million as of March 31, 2021. In return for the commitment, Medpace receives preferential pricing. The commitments expire at various times through 2027.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	(12) Related Party Transactions Employee Loans The Company periodically extends short term loans or advances to employees, typically upon commencement of employment. Total receivables as a result of these employee advances of $0.2 million existed at March 31, 2021 and December 31, 2020, 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 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 months ended March 31, 2021 and 2020, the Company recognized total revenue from LIB of $0.5 million and $1.0 million, respectively, in the Company’s condensed consolidated statements of operations. As of March 31, 2021 and December 31, 2020, respectively, the Company had Advanced billings from LIB of $0.6 million and $0.7 million 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 months ended March 31, 2021 and 2020, the Company recognized total revenue from CinRx of $4.8 million and $4.4 million, respectively, in the Company’s condensed consolidated statements of operations. As of March 31, 2021 and December 31, 2020, respectively, the Company had Advanced billings from CinRx of $5.5 million and $5.8 million recorded in the condensed consolidated balance sheets. As of March 31, 2021 and December 31, 2020 the Company had Accounts receivable and unbilled, net from CinRx of $2.0 million and $2.2 million, respectively, in the condensed consolidated balance sheets. The Summit 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. During the three months ended March 31, 2021 and 2020, Medpace incurred expenses of $0.1 million and $0.2 million at The Summit, respectively. 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. Operating lease cost recognized for the three months ended March 31, 2021 and 2020 was $0.5 million, respectively. The operating lease cost was allocated between Total direct costs and Selling, general and administrative in the condensed consolidated statements of operations. The Operating lease right-of-use assets at March 31, 2021 and December 31, 2020 were $3.0 million and $3.5 million, respectively, in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at March 31, 2021 were $1.9 million and $1.1 million, and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at December 31, 2020 were $1.9 million and $1.6 million, respectively, and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. In 2018, Medpace, Inc. entered into a multi-year lease agreement governing future occupancy of additional office space 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 began to occupy the premises in the second quarter of fiscal year 2020. The lease expires in 2040 and the Company has two 10-year options to extend the term of the lease. 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 consumer price index. The Company has determined that the lease is an operating lease. Operating lease cost recognized for the three months ended March 31, 2021 was $ 1.4 million. The operating lease cost was allocated between Total direct costs and Selling, general and administrative in the condensed consolidated statements of operations. The Operating lease right-of-use assets at March 31, 2021 and December 31, 2020 were $56.2 million and $ 56.6 million in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at March 31, 2021 were $0.8 million and $66.6 million, and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at December 31, 2020 were $ 0.7 million and $ 66.8 million, respectively and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. 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. The Company has determined that the leases are operating leases. Operating lease cost recognized for the three months ended March 31, 2021 and 2020 was $0.9 million, respectively. The operating lease cost was allocated between Total direct costs and Selling, general and administrative in the condensed consolidated statements of operations. The Operating lease right-of-use assets at March 31, 2021 and December 31, 2020 were $19.1 million and $19.7 million, respectively, in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at March 31, 2021 were $2.5 million and $16.6 million, and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. The current and long-term portions of the lease liabilities at December 31, 2020 were $2.4 million and $17.2 million, respectively, and were recognized in Other current liabilities and Operating lease liabilities in the condensed consolidated balance sheets. Travel Services The Company incurs expenses for travel services for company executives provided by private aviation charter companies which in 2020 was a company owned by the chief executive officer and the executive vice president of operations of the Company and commencing in 2021 is a company controlled by the chief executive officer of the Company (each a “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 $0.1 million and $0.2 million during the three months ended March 31, 2021 and 2020, 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.

Entity Wide Disclosures

Entity Wide Disclosures	3 Months Ended
	Mar. 31, 2021
Entity Wide Disclosures [Abstract]
Entity Wide Disclosures	(13) Entity Wide Disclosures Revenue by Category The following table disaggregates our revenue by major source (in thousands): Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Therapeutic Area Oncology $ 79,138 $ 69,212 Other 68,938 50,569 Metabolic 32,495 36,075 AVAI 30,820 25,147 Central Nervous System 24,812 23,977 Cardiology 23,762 25,899 Total revenue $ 259,965 $ 230,879

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Unaudited Interim Financial Information	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, 2020
Share Repurchases	Share Repurchases In the first quarter of 2018, the Board of Directors approved a share repurchase program authorizing up to $50.0 million in share repurchases. In the first quarter of 2020, the Board of Directors approved an increase in the stock repurchase authorization by $50.0 million. In the fourth quarter of 2020, the Board approved the stock repurchase authorization up to $150.0 million. During the quarter ended March 31, 2020, the Company repurchased 661,637 shares for $43.2 million. As of March 31, 2021, we have remaining authorization of $102.6 million remaining under the repurchase program. Repurchases under the share repurchase program are executed in the open market or negotiated transactions under trading plans put in place pursuant to Rule 10b5-1. The Company constructively retired the repurchased shares associated with these approved share repurchases, with all amounts paid in excess of par value reflected within Retained earnings in the Company’s condensed consolidated balance sheets. The repurchase program may be suspended or discontinued at any time without notice. Supplemental Cash Flow Disclosure During the three months ended March 31, 2020, the company engaged in a non-cash financing activity of $1.4 million related to share repurchases executed, but not yet paid as of March 31, 2020.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” intended to provide financial statement users with more decision-useful information about expected credit losses and other commitments to extend credit held by the reporting entity. The standard replaces the incurred loss impairment methodology with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The guidance is effective for fiscal years beginning after December 15, 2019 with early adoption permitted. The Company adopted this standard in the first quarter of 2020 and it had no material impact to the condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes.” The new guidance includes several provisions to reduce the complexity of accounting for income taxes for financial reporting purposes and increasing consistency and clarity for financial statement readers. The new guidance is effective for public entities for fiscal years, and the related interim periods, beginning after December 15, 2020. The Company adopted this standard in the first quarter of 2021 and it has no material impact on the condensed consolidated financial statements.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Reconciliation of Denominators and Additional Shares that are Excluded from the Calculation of EPS	The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2021 and 2020 (in thousands, except for earnings per share): Three Months Ended March 31, 2021 2020 Weighted-average shares: Common shares outstanding 35,753 36,024 RSAs 116 95 Total weighted-average shares 35,869 36,119 Earnings per common share—Basic Net income $ 43,306 $ 28,954 Less: Undistributed earnings allocated to RSAs 140 76 Net income available to common shareholders—Basic $ 43,166 $ 28,878 Net income per common share—Basic $ 1.21 $ 0.80 Basic weighted-average common shares outstanding 35,753 36,024 Effect of diluted shares 1,996 2,006 Diluted weighted-average shares outstanding 37,749 38,030 Net income per common share—Diluted $ 1.14 $ 0.76

Contract Assets and Contract _2

Contract Assets and Contract Liabilities (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, December 31, 2021 2020 Accounts receivable $ 131,918 $ 137,912 Unbilled receivables 28,425 23,396 Less: allowance for doubtful accounts (346 ) (346 ) Total accounts receivable and unbilled, net $ 159,997 $ 160,962 Advanced billings consisted of the following (in thousands): As of March 31, December 31, 2021 2020 Advanced billings $ 277,807 $ 255,664

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Net	Intangible assets, net consisted of the following (in thousands): As of March 31, December 31, 2021 2020 Intangible assets: Finite-lived intangible assets: Carrying amount: Customer relationships 145,051 145,051 Accumulated amortization: Customer relationships (131,501 ) (130,223 ) Total finite-lived intangible assets, net 13,550 14,828 Trade name (indefinite-lived) 31,646 31,646 Total intangible assets, net $ 45,196 $ 46,474
Schedule of Estimated Amortization Expense of Intangible Assets	As of March 31, 2021, 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 2021 $ 3,836 2022 3,353 2023 2,199 2024 1,443 2025 946 Later years 1,773 $ 13,550

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consisted of the following (in thousands): As of March 31, December 31, 2021 2020 Employee compensation and benefits $ 29,004 $ 40,208 Project related reimbursable expenses 86,044 87,092 Other 8,560 7,067 Total accrued expenses $ 123,608 $ 134,367

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Summary of Components of Lease Expense	The components of lease expense were as follows (in thousands): Three Months Ended March 31, 2021 2020 Operating lease cost $ 5,730 $ 3,768 Variable lease cost 1,704 886
Summary of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to the leases was as follows (in thousands): Three Months Ended March 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 3,422 $ 2,600 Right-of-use assets obtained in exchange for lease obligations: Operating leases 2,672 10,076
Summary of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to the leases was as follows (in thousands): As of March 31, December 31, 2021 2020 Operating lease right-of-use assets $ 112,266 $ 113,809 Other current liabilities $ 16,111 $ 15,890 Operating lease liabilities 114,144 115,143 Total operating lease liabilities $ 130,255 $ 131,033 Weighted Average Remaining Lease Term (years) Operating leases 12.7 12.9 Weighted Average Discount Rate Operating leases 5.8 % 5.9 %
Schedule of Lease Payments Due Related To Lease Liabilities	Lease payments due related to lease liabilities as of March 31, 2021 were as follows (in thousands): Related Party Non-Related Parties Total Operating Leases Operating Leases Operating Leases Remainder of 2021 $ 7,892 $ 9,534 $ 17,426 2022 10,301 9,259 19,560 2023 8,771 7,957 16,728 2024 8,900 5,872 14,772 2025 9,032 4,350 13,382 Later years 103,006 9,195 112,201 Total lease payments 147,902 46,167 194,069 Less: imputed interest (58,422 ) (5,392 ) (63,814 ) Total $ 89,480 $ 40,775 $ 130,255

Shareholder's Equity and Stoc_2

Shareholder's Equity and Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Stock Option Activity	The following table sets forth the Company’s stock option activity: Three Months Ended March 31, 2021 Weighted Stock Options Exercise Price Outstanding - beginning of period 2,500,727 $ 43.26 Granted - $ - Exercised (406,169 ) $ 22.42 Forfeited/Expired (12,000 ) $ 57.94 Outstanding - end of period 2,082,558 $ 47.24 Exercisable - end of period 1,564,110 $ 49.66
Schedule of RSA/RSU Activity	The following table sets forth the Company’s RSA/RSU activity: Three Months Ended March 31, 2021 Shares/Units Outstanding and unvested - beginning of period 695,562 Granted - Vested - Forfeited (13,935 ) Outstanding and unvested - end of period 681,627 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 March 31, 2021 2020 Total direct costs $ 2,047 $ 2,006 Selling, general and administrative 824 3,439 Total stock-based compensation expense $ 2,871 $ 5,445

Entity Wide Disclosures (Tables

Entity Wide Disclosures (Tables)	3 Months Ended
	Mar. 31, 2021
Entity Wide Disclosures [Abstract]
Summary of Revenue by Major Source	The following table disaggregates our revenue by major source (in thousands): Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 Therapeutic Area Oncology $ 79,138 $ 69,212 Other 68,938 50,569 Metabolic 32,495 36,075 AVAI 30,820 25,147 Central Nervous System 24,812 23,977 Cardiology 23,762 25,899 Total revenue $ 259,965 $ 230,879

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Mar. 31, 2018
Basis Of Presentation [Line Items]
Repurchases of shares, value	$ 0	$ 41,776,000
Share Repurchase Program
Basis Of Presentation [Line Items]
Stock repurchase program, additional amount authorized		$ 50,000,000
Repurchases of shares		661,637
Repurchases of shares, value		$ 43,200,000
Remaining amount of repurchase program	$ 102,600,000
Non cash activity related share repurchase program		$ 1,400,000
Share Repurchase Program | Maximum
Basis Of Presentation [Line Items]
Stock repurchase program, authorized amount			$ 150,000,000	$ 50,000,000

Net Income Per Share - Schedule

Net Income Per Share - Schedule of Reconciliation of Denominators and Additional Shares that are Excluded from the Calculation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Weighted-average shares:
Basic weighted-average common shares outstanding	35,753	36,024
Total weighted-average shares	35,869	36,119
Earnings per common share—Basic
Net income	$ 43,306	$ 28,954
Net income available to common shareholders—Basic	$ 43,166	$ 28,878
Net income per common share—Basic	$ 1.21	$ 0.80
Basic weighted-average common shares outstanding	35,753	36,024
Effect of diluted shares	1,996	2,006
Diluted weighted-average shares outstanding	37,749	38,030
Net income per common share—Diluted	$ 1.14	$ 0.76
RSAs
Weighted-average shares:
Basic weighted-average common shares outstanding	116	95
Earnings per common share—Basic
Less: Undistributed earnings allocated to RSAs	$ 140	$ 76
Basic weighted-average common shares outstanding	116	95
Common Stock
Weighted-average shares:
Basic weighted-average common shares outstanding	35,753	36,024
Earnings per common share—Basic
Basic weighted-average common shares outstanding	35,753	36,024

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from computation of diluted EPS	0	439,405

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Fair Value Disclosures [Abstract]
Fair value measurements transfers between level 1, level 2 or level 3	$ 0	$ 0

Contract Assets and Contract _3

Contract Assets and Contract Liabilities - Summary of Accounts Receivable and Unbilled, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Accounts receivable	$ 131,918	$ 137,912
Unbilled receivables	28,425	23,396
Less: allowance for doubtful accounts	(346)	(346)
Total accounts receivable and unbilled, net	$ 159,997	$ 160,962

Contract Assets and Contract _4

Contract Assets and Contract Liabilities - Summary of Advanced Billings (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Revenue From Contract With Customer [Abstract]
Advanced billings	$ 277,807	$ 255,664

Contract Assets and Contract _5

Contract Assets and Contract Liabilities - Additional Information (Details) $ in Billions	Mar. 31, 2021USD ($)
Revenue From Contract With Customer [Abstract]
Performance obligations remaining to be performed	$ 1.8

Intangible Assets, Net - Schedu

Intangible Assets, Net - Schedule of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accumulated amortization:
Total finite-lived intangible assets, net	$ 13,550	$ 14,828
Trade name (indefinite-lived)	31,646	31,646
Total intangible assets, net	45,196	46,474
Customer Relationships
Finite-lived intangible assets:
Total finite-lived intangible assets	145,051	145,051
Accumulated amortization:
Total accumulated amortization	$ (131,501)	$ (130,223)

Intangible Assets, Net - Sche_2

Intangible Assets, Net - Schedule of Estimated Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 3,836
2022	3,353
2023	2,199
2024	1,443
2025	946
Later years	1,773
Total finite-lived intangible assets, net	$ 13,550	$ 14,828

Accrued Expenses - Schedule of

Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Accrued Liabilities And Other Liabilities [Abstract]
Employee compensation and benefits	$ 29,004	$ 40,208
Project related reimbursable expenses	86,044	87,092
Other	8,560	7,067
Total accrued expenses	$ 123,608	$ 134,367

Debt - Additional Information (

Debt - Additional Information (Details) - Credit Facility - USD ($)	Sep. 30, 2019	Mar. 31, 2021
Debt Instrument [Line Items]
Debt instrument, basis points	1.00%
Outstanding borrowings		$ 0
Outstanding letters of credit		$ 200,000
Maximum
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 50,000,000

Leases - Additional Information

Leases - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021
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 | Maximum
Lessee Lease Description [Line Items]
Operating lease, options to terminate lease term	1 year
Real Estate | Minimum
Lessee Lease Description [Line Items]
Remaining lease term, operating lease	1 year
Real Estate | Maximum
Lessee Lease Description [Line Items]
Remaining lease term, operating lease	19 years

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lease Cost [Abstract]
Operating lease cost	$ 5,730	$ 3,768
Variable lease cost	$ 1,704	$ 886

Leases - Summary of Supplementa

Leases - Summary of Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 3,422	$ 2,600
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$ 2,672	$ 10,076

Leases - Summary of Supplemen_2

Leases - Summary of Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Assets And Liabilities Lessee [Abstract]
Operating lease right-of-use assets	$ 112,266	$ 113,809
Other current liabilities	$ 16,111	$ 15,890
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating lease liabilities	$ 114,144	$ 115,143
Total operating lease liabilities	$ 130,255	$ 131,033
Weighted Average Remaining Lease Term (years)
Operating leases	12 years 8 months 12 days	12 years 10 months 24 days
Weighted Average Discount Rate
Operating leases	5.80%	5.90%

Leases - Schedule of Lease Paym

Leases - Schedule of Lease Payments Due Related To Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Operating Lease Liabilities Payments Due [Line Items]
Remainder of 2021	$ 17,426
2022	19,560
2023	16,728
2024	14,772
2025	13,382
Later years	112,201
Total lease payments	194,069
Less: imputed interest	(63,814)
Total	130,255	$ 131,033
Related Party
Operating Lease Liabilities Payments Due [Line Items]
Remainder of 2021	7,892
2022	10,301
2023	8,771
2024	8,900
2025	9,032
Later years	103,006
Total lease payments	147,902
Less: imputed interest	(58,422)
Total	89,480
Non-Related Party
Operating Lease Liabilities Payments Due [Line Items]
Remainder of 2021	9,534
2022	9,259
2023	7,957
2024	5,872
2025	4,350
Later years	9,195
Total lease payments	46,167
Less: imputed interest	(5,392)
Total	$ 40,775

Shareholder's Equity and Stoc_3

Shareholder's Equity and Stock-Based Compensation - Additional Information (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted	0
2016 Incentive Award Plan | Granted to Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Awards granted to employees	0	312,897
2016 Incentive Award Plan | Vesting After Four Years | Restricted Stock Awards (RSA)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted		20,724
Award vesting period		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]
Shares granted		92,768
Award vesting period		4 years
2016 Incentive Award Plan | Fully-vested Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options granted		199,405

Shareholder's Equity and Stoc_4

Shareholder's Equity and Stock-Based Compensation - Schedule of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Equity [Abstract]
Number of Stock Options, Outstanding - beginning of period | shares	2,500,727
Number of Stock Options, Granted | shares	0
Number of Stock Options, Exercised | shares	(406,169)
Number of Stock Options, Forfeited/Expired | shares	(12,000)
Number of Stock Options, Outstanding - end of period | shares	2,082,558
Number of Stock Options, Exercisable - end of period | shares	1,564,110
Weighted Average Exercise Price, Outstanding - beginning of Period | $ / shares	$ 43.26
Weighted Average Exercise Price, Granted | $ / shares	0
Weighted Average Exercise Price, Exercised | $ / shares	22.42
Weighted Average Exercise Price, Forfeited/Expired | $ / shares	57.94
Weighted Average Exercise Price, Outstanding - end of period | $ / shares	47.24
Weighted Average Exercise Price, Exercisable - end of period | $ / shares	$ 49.66

Shareholder's Equity and Stoc_5

Shareholder's Equity and Stock-Based Compensation - Schedule of RSA/RSU Activity (Details) - RSA/RSU	3 Months Ended
	Mar. 31, 2021shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Outstanding and unvested - beginning of period	695,562
Granted	0
Vested	0
Forfeited	(13,935)
Outstanding and unvested - end of period	681,627
Cumulative vested shares - end of period	1,913,916

Shareholder's Equity and Stoc_6

Shareholder's Equity and Stock-Based Compensation - Summary of Stock-Based Compensation Expense Recognized in Statements of Operations Related to All Outstanding Stock Based Compensation Awards (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 2,871	$ 5,445
Total Direct Costs
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	2,047	2,006
Selling, General and Administrative
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total stock-based compensation expense	$ 824	$ 3,439

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	10.70%	20.60%
U.S. statutory rate	21.00%	21.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Commitments And Contingencies Disclosure [Abstract]
Minimum purchase commitments for project related supplies	$ 12.6
Minimum purchase commitments, description	The Company has several minimum purchase commitments for project related supplies totaling $12.6 million as of March 31, 2021. In return for the commitment, Medpace receives preferential pricing. The commitments expire at various times through 2027.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021USD ($)RenewalOptionAgreementBuilding	Mar. 31, 2020USD ($)	Dec. 31, 2018RenewalOptionAgreement	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Advanced billings	$ 6,100			$ 6,500
Accounts receivable and unbilled, net	2,200			2,600
Operating lease cost recognized	5,730	$ 3,768
Operating lease right-of-use assets	112,266			113,809
Current portion of lease liability	16,111			15,890
Long-term portion of lease liabilities	114,144			115,143
Employee Loans | Prepaid Expenses and Other Current Assets and Other Assets
Related Party Transaction [Line Items]
Employee advances receivables	200			200
Service Agreements | LIB
Related Party Transaction [Line Items]
Advanced billings	600			700
Accounts receivable and unbilled, net	100			300
Service Agreements | LIB | Revenue Net
Related Party Transaction [Line Items]
Revenue with related parties	500	1,000
Service Agreements | CinRx Pharma and Subsidiaries
Related Party Transaction [Line Items]
Advanced billings	5,500			5,800
Accounts receivable and unbilled, net	2,000			2,200
Service Agreements | CinRx Pharma and Subsidiaries | Revenue Net
Related Party Transaction [Line Items]
Revenue with related parties	4,800	4,400
Service Agreements | The Summit
Related Party Transaction [Line Items]
Expenses incurred	$ 100	200
Leased Real Estate | Chief Executive Officer
Related Party Transaction [Line Items]
Term of lease	12 years
Lease expiration period	2022-11
Number of lease renewal, 10-year option | RenewalOption	1
Lease term upon renewal	10 years
Leased Real Estate | Chief Executive Officer | Office Space
Related Party Transaction [Line Items]
Number of lease renewal, 10-year option | RenewalOption			2
Lease term upon renewal			10 years
Current portion of lease liability				700
Long-term portion of lease liabilities				66,800
Lease expiration year			2040
Number of lease agreements | Agreement			1
Leased Real Estate | Chief Executive Officer | Direct Costs and Selling, General And Administrative
Related Party Transaction [Line Items]
Operating lease cost recognized	$ 500	500
Leased Real Estate | Chief Executive Officer | Direct Costs and Selling, General And Administrative | Office Space
Related Party Transaction [Line Items]
Operating lease cost recognized	$ 1,400
Leased Real Estate | Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Number of lease renewal, 10-year option | RenewalOption	1
Lease term upon renewal	10 years
Lease expiration year	2027
Number of lease agreements | Agreement	2
Number of buildings | Building	2
Lease occupancy year	2012
Leased Real Estate | Chief Executive Officer And Immediate Family | Direct Costs and Selling, General And Administrative
Related Party Transaction [Line Items]
Operating lease cost recognized	$ 900	900
Leased Real Estate | Operating Lease Right-of-Use Assets | Chief Executive Officer
Related Party Transaction [Line Items]
Operating lease right-of-use assets	3,000			3,500
Leased Real Estate | Operating Lease Right-of-Use Assets | Chief Executive Officer | Office Space
Related Party Transaction [Line Items]
Operating lease right-of-use assets	56,200			56,600
Leased Real Estate | Operating Lease Right-of-Use Assets | Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Operating lease right-of-use assets	19,100			19,700
Leased Real Estate | Other Current Liabilities | Chief Executive Officer
Related Party Transaction [Line Items]
Current portion of lease liability	1,900			1,900
Leased Real Estate | Other Current Liabilities | Chief Executive Officer | Office Space
Related Party Transaction [Line Items]
Current portion of lease liability	800
Leased Real Estate | Other Current Liabilities | Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Current portion of lease liability	2,500			2,400
Leased Real Estate | Operating Lease Liabilities | Chief Executive Officer
Related Party Transaction [Line Items]
Long-term portion of lease liabilities	1,100			1,600
Leased Real Estate | Operating Lease Liabilities | Chief Executive Officer | Office Space
Related Party Transaction [Line Items]
Long-term portion of lease liabilities	66,600
Leased Real Estate | Operating Lease Liabilities | Chief Executive Officer And Immediate Family
Related Party Transaction [Line Items]
Long-term portion of lease liabilities	16,600			$ 17,200
Travel Services | Chief Executive Officer
Related Party Transaction [Line Items]
Travel expenses with related party	$ 100	$ 200

Entity Wide Disclosures - Summa

Entity Wide Disclosures - Summary of Revenue by Major Source (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation Of Revenue [Line Items]
Total revenue	$ 259,965	$ 230,879
Oncology
Disaggregation Of Revenue [Line Items]
Total revenue	79,138	69,212
Other
Disaggregation Of Revenue [Line Items]
Total revenue	68,938	50,569
Metabolic
Disaggregation Of Revenue [Line Items]
Total revenue	32,495	36,075
AVAI
Disaggregation Of Revenue [Line Items]
Total revenue	30,820	25,147
Central Nervous System
Disaggregation Of Revenue [Line Items]
Total revenue	24,812	23,977
Cardiology
Disaggregation Of Revenue [Line Items]
Total revenue	23,762	25,899
Revenue Net
Disaggregation Of Revenue [Line Items]
Total revenue	$ 259,965	$ 230,879