What Medpace Holdings, Inc. told the SEC could break it.

Medpace processes EU-resident personal data and is subject to GDPR (fines up to €20M or 4% of worldwide annual turnover), alongside FDA/EMA/Health Canada clinical-trial regulatory frameworks that govern its core CRO services.

“If we do not comply with our obligations under the GDPR we could be exposed to significant fines of up to 20 million EUR or up to 4% of the total worldwide annual turnover of the preceding financial year, whichever is higher.”

US tariffs on imported goods, equipment, technology or supplies used in Medpace's clinical trials — and retaliatory/reciprocal tariffs by foreign countries including China — could raise operating costs and disrupt its global trial supply chain.

“tariffs imposed by the U.S. government on certain imported goods, equipment, technology, or supplies used in our clinical trials, any retaliatory and/or reciprocal tariffs imposed on U.S. exports by foreign countries, including China, as well as any additional tariffs, duties, or other trade measures or restrictions could increase our operating costs, disrupt our global supply chain”

Medpace's revenue is concentrated in capital-constrained clients — 82% of FY2025 net revenue came from small biopharmaceutical companies and 13% from mid-sized (top ten customers = 35.1%) — exposing it to trial cancellations and customers becoming unable to fund trials it is ethically bound to complete.

“Clinical trials can be costly and for the year ended December 31, 2025, 82% and 13% of our net revenue was derived from small biopharmaceutical companies and mid-sized biopharmaceutical companies, respectively, which may have limited access to capital.”