Medpace raised its full-year outlook after it reported a second-quarter profit that beat analysts' expectations boosted by gains in new business awards.

Medpace shares surged 46% in premarket.

The clinical research company on Monday reported $90.3 million in net income, or $3.10 a share, up from $88.4 million, or $2.75 a share, from the prior year. Analysts expected $2.98 a share.

Medpace reported $603.3 million in revenue, beating Wall Street's expectations of $539 million and up from $528.1 million the year prior. Net new business awards were $620.5 million, up from $551 million in the second quarter of 2024.

The company raised its 2025 earnings per share guidance to $13.76 to $14.53, up from a range of $12.26 to $13.04.

It also increased its revenue forecast to between $2.42 billion and $2.52 billion, which would represent growth of 14.7% to 19.5% from 2024 revenue.