Medpace says cancellations ‘widespread’ in Q4

Asked during the company’s Q4 earnings call if cancellations were “widespread or is it just maybe one big client canceling something,” executives from the company replied, according to a transcript: “It’s widespread. There was no single or couple of very large projects that canceled. It was just a higher level cancellations overall. It, you know, comparable to the past year was the highest level of cancellations at a backlog. If you combine backlog and, you know, kind of our entire portfolio, you know, I think Q1 was a little bit worse, because we had such a high cancellation among projects that, you know, had been awarded but were not yet recognized in backlog. But it was a high level overall. And again, pretty, you know, widespread.”