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Medpace vs Maxcyte: revenue, profit, margins and growth compared

Medpace brought in $2.5B of revenue in fiscal 2025, Maxcyte $33M in fiscal 2025. Revenue changed by +20.0% at Medpace and -14.5% at Maxcyte on the year before, so Medpace grew faster. Medpace kept 17.8% of its revenue as net profit, Maxcyte -135.1%. Free cash flow was $681.9M at Medpace and -$36.2M at Maxcyte.

Side by side, latest fiscal year

MEDPMXCT
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.5B$33M
Revenue growth+20.0%-14.5%
Net income$451.1M-$44.6M
Net margin17.8%-135.1%
Free cash flow$681.9M-$36.2M
Free cash flow margin26.9%-109.5%
Earnings per share (diluted)$15.28-$0.42
Cash$497M$20.1M
Debtn/an/a
Price to earnings40.5n/a
Market value$17.3B$120.8M
Dividend yieldn/an/a
Rank by revenue in sector#94 of 523 · Health care#390 of 523 · Health care

Over the years

Revenue
MEDP FY2018: $704.6MMEDP FY2019: $861MMEDP FY2020: $925.9MMEDP FY2021: $1.1BMEDP FY2022: $1.5BMEDP FY2023: $1.9BMEDP FY2024: $2.1BMEDP FY2025: $2.5BMXCT FY2019: $21.6MMXCT FY2021: $26.2MMXCT FY2021: $33.9MMXCT FY2022: $44.3MMXCT FY2023: $41.3MMXCT FY2024: $38.6MMXCT FY2025: $33MFY18FY19FY20FY21FY22FY23FY24FY25
MEDP $2.5BMXCT $33M
Net income
MEDP FY2018: $73.2MMEDP FY2019: $100.4MMEDP FY2020: $145.4MMEDP FY2021: $181.8MMEDP FY2022: $245.4MMEDP FY2023: $282.8MMEDP FY2024: $404.4MMEDP FY2025: $451.1MMXCT FY2019: -$12.9MMXCT FY2021: -$11.8MMXCT FY2021: -$19.1MMXCT FY2022: -$23.6MMXCT FY2023: -$37.9MMXCT FY2024: -$41.1MMXCT FY2025: -$44.6MFY18FY19FY20FY21FY22FY23FY24FY25
MEDP $451.1MMXCT -$44.6M
Net margin
MEDP FY2018: 10.4%MEDP FY2019: 11.7%MEDP FY2020: 15.7%MEDP FY2021: 15.9%MEDP FY2022: 16.8%MEDP FY2023: 15.0%MEDP FY2024: 19.2%MEDP FY2025: 17.8%MXCT FY2019: -59.6%MXCT FY2021: -45.2%MXCT FY2021: -56.3%MXCT FY2022: -53.3%MXCT FY2023: -91.8%MXCT FY2024: -106.3%MXCT FY2025: -135.1%FY18FY19FY20FY21FY22FY23FY24FY25
MEDP 17.8%MXCT -135.1%
Revenue growth
MEDP FY2019: +22.2%MEDP FY2020: +7.5%MEDP FY2021: +23.4%MEDP FY2022: +27.8%MEDP FY2023: +29.2%MEDP FY2024: +11.8%MEDP FY2025: +20.0%MXCT FY2021: +21.0%MXCT FY2021: +29.5%MXCT FY2022: +30.6%MXCT FY2023: -6.7%MXCT FY2024: -6.4%MXCT FY2025: -14.5%FY19FY20FY21FY22FY23FY24FY25
MEDP +20.0%MXCT -14.5%
Free cash flow
MEDP FY2018: $140.6MMEDP FY2019: $184MMEDP FY2020: $227.3MMEDP FY2021: $235.1MMEDP FY2022: $351.2MMEDP FY2023: $396.7MMEDP FY2024: $572.3MMEDP FY2025: $681.9MMXCT FY2019: -$10.1MMXCT FY2021: -$10.9MMXCT FY2021: -$14.5MMXCT FY2022: -$33.3MMXCT FY2023: -$25.4MMXCT FY2024: -$29.3MMXCT FY2025: -$36.2MFY18FY19FY20FY21FY22FY23FY24FY25
MEDP $681.9MMXCT -$36.2M

Fiscal years as each company reports them; the two may end in different months.

Questions about Medpace and Maxcyte

Which is bigger by revenue, Medpace or Maxcyte?

Medpace is bigger by revenue: $2.5B in fiscal 2025, against $33M for Maxcyte in fiscal 2025.

Which keeps more of its revenue as profit, Medpace or Maxcyte?

Medpace had a net margin of 17.8% in fiscal 2025; Maxcyte had -135.1% in fiscal 2025.

Which grew revenue faster, Medpace or Maxcyte?

In their latest fiscal years revenue changed by +20.0% at Medpace and -14.5% at Maxcyte.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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