Medidata

Health Technology clinical research cloud diagnostics enterprise software healthtech

Medidata Solutions is a leading global provider of cloud-based clinical development solutions that enhance the efficiency of customers’ clinical trials. Medidata’s advanced platform lowers the total cost of clinical development by optimizing clinical trials from concept to conclusion: from study and protocol design, trial planning and budgeting, site negotiation, clinical portal, trial management, randomization and trial supply management, clinical data capture and management, safety events capture, medical coding to business analytics. Company's diverse life science customer base spans biopharmaceutical companies, medical device and diagnostic companies, academic and government institutions, CROs and other research organizations.

Revenue(Q1, 2017)

$126.8 M

Market capitalization(2017-08-15)

$4.4 B

Customers(FY, 2016)

849

Company Growth (employees)

Type

Public

New York, US

Founded

1999

Size (employees)

1,424 (est)

Website

mdsol.com

Medidata was founded in 1999 and is headquartered in New York, US

Medidata Office Locations

Medidata has offices in New York, Woodbridge Township, Conshohocken, Houston and in 6 other locations

New York, US (HQ)

350 Hudson St

London, GB

Hammersmith Flyover

Singapore, SG

8 Jurong Town Hall Rd

Beijing, CN

Room 21, 5th Floor, China Life Tower 16 Chaoyangmen Wai Da

Chiyoda-ku, JP

MARUNOUCHI TRUST TOWER NORTH

San Francisco, US

343 Sansome St

Show all (10)

Medidata Data and Metrics

Medidata Financial Metrics

Medidata's revenue was reported to be $126.8 m in Q1, 2017

Summary

USD

Medidata's current market capitalization is $4.4 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	276.8 m	335.1 m	392.5 m	463.4 m
Revenue growth, %		21%	17%	18%
Cost of goods sold	69.9 m	84.9 m	89.8 m	112.6 m
Gross profit	206.9 m	250.2 m	302.7 m	350.8 m
Gross profit Margin, %	75%	75%	77%	76%
Sales and marketing expense	66.3 m	83.4 m	103.2 m	109.3 m
R&D expense	51.2 m	71.8 m	92.3 m	112.6 m
General and administrative expense	65.5 m	69.1 m	78 m	78.7 m
Operating expense total	183.1 m	230.1 m	273.5 m	300.6 m
EBIT	23.9 m	20.1 m	29.2 m	50.2 m
EBIT margin, %	9%	6%	7%	11%
Interest expense	5.9 m	15.4 m	16.2 m	17.3 m
Interest income	555 k	1.8 m	2.8 m	4.4 m
Pre tax profit	18.4 m	6.5 m	15.8 m	37.3 m
Income tax expense	1.7 m	422 k	2.6 m	8.3 m
Net Income	16.7 m	6.1 m	13.2 m	29 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Revenue	83.2 m	86 m	92.4 m	98.1 m	103.1 m	104.2 m	114.6 m	120.1 m	126.8 m
Cost of goods sold	21 m	21 m	22.2 m
Gross profit	62.2 m	65 m	70.3 m	98.1 m	103.1 m	104.2 m	114.6 m	120.1 m	126.8 m
Gross profit Margin, %	75%	76%	76%	100%	100%	100%	100%	100%	100%
Sales and marketing expense	20.4 m	21 m	24.3 m
R&D expense	17.3 m	17.7 m	21.9 m	22.5 m	24.2 m	28.2 m	28.3 m	28 m	29.9 m
General and administrative expense	17.4 m	17.9 m	20.6 m	21.9 m	19.1 m	19.2 m	18.5 m	20.1 m	24 m
Operating expense total	55.1 m	56.5 m	66.8 m	44.5 m	43.3 m	47.5 m	46.8 m	48.1 m	53.9 m
EBIT	7.1 m	3.6 m	3.5 m	5 m	11.1 m	6.6 m	11.1 m	14.9 m	12.2 m
EBIT margin, %	9%	4%	4%	5%	11%	6%	10%	12%	10%
Interest expense	(3.8 m)	(3.8 m)	(4 m)	(4 m)	(4 m)	(4.1 m)	(4.2 m)	(4.2 m)	(4.3 m)
Interest income	420 k	465 k	534 k	612 k	739 k	872 k	932 k	1 m	1.2 m
Pre tax profit	3.7 m	191 k	8 k	1.6 m	7.8 m	3.4 m	7.9 m	11.7 m	9 m
Income tax expense	1.4 m	30 k	(149 k)	55 k	3.1 m	(2.5 m)	3 m	4.3 m	(501 k)
Net Income	2.3 m	161 k	157 k	1.5 m	4.7 m	5.8 m	4.9 m	7.4 m	9.5 m

Source: SEC Filings

Balance Sheet

Annual

USD	Y, 2009	Y, 2010	Y, 2011	Y, 2012	Y, 2013	Y, 2014	Y, 2015	FY, 2016
Cash	39.4 m	16 m	45.2 m	32.7 m	22.3 m	39.5 m	49.6 m	93.5 m
Accounts Receivable								128.5 m
Inventories					13.5 m	13.7 m	21.2 m	20.4 m
Current Assets					304.5 m	357.9 m	383.2 m	518.8 m
Goodwill					15.5 m	19 m	18.8 m	30.8 m
Total Assets					573.4 m	622.2 m	687.5 m	817.9 m
Accounts Payable					7.5 m	3.7 m	6.3 m	6.2 m
Current Liabilities					100.2 m	94.8 m	121.1 m	132.3 m
Non-Current Liabilities					247.4 m	262.7 m	282.2 m	283.6 m
Total Liabilities					347.5 m	357.5 m	403.3 m	415.9 m
Common Stock							594 k	614 k
Additional Paid-in Capital					248.3 m	301.5 m	365 m	418.5 m
Retained Earnings					3.5 m	9.6 m	22.8 m	102.4 m
Total Equity					225.8 m	264.7 m	284.2 m	402 m
Financial Leverage					2.5 x	2.4 x	2.4 x	2 x

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	35.2 m	26.7 m	71.5 m	43.4 m	63.2 m	87.7 m	64.3 m	65.2 m	90.4 m
Current Assets	298.8 m	328.3 m	394.9 m	381.6 m	393.4 m	423.2 m	429 m	470.2 m	494.5 m
Goodwill	15.7 m	15.4 m	18.8 m	19.1 m	18.9 m	18.7 m	30.3 m	30.2 m	39.1 m
Total Assets	571.2 m	587.3 m	644.1 m	672.3 m	683.8 m	673.9 m	712 m	785.8 m	827.4 m
Accounts Payable	5.3 m	3.7 m	6.3 m	2.8 m	2.3 m	1.9 m	1.4 m	1.2 m	6.7 m
Current Liabilities	83.5 m	83 m	107.3 m	114.9 m	104.5 m	100.2 m	114.5 m	123.6 m	126.7 m
Non-Current Liabilities	253.5 m	255.1 m	265.4 m	269 m	277.2 m	279.3 m	282.9 m	283.1 m	289.4 m
Common Stock						606 k	610 k	612 k	622 k
Additional Paid-in Capital	273.7 m	290 m	317 m	339.4 m	350.1 m	376.7 m	395.8 m	403.8 m	431.5 m
Retained Earnings	4 m	4.2 m	9.8 m	11.3 m	16 m	28.6 m	33.6 m	91.5 m	111.9 m
Total Equity	234.2 m	249.1 m	271.4 m	288.5 m	302.2 m	294.4 m	314.7 m	379.1 m	411.4 m
Financial Leverage	2.4 x	2.4 x	2.4 x	2.3 x	2.3 x	2.3 x	2.3 x	2.1 x	2 x

Cash Flow

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Net Income	16.7 m	6.1 m	13.2 m	29 m
Depreciation and Amortization	6.9 m	10.4 m	10.8 m	15.3 m
Accounts Receivable	1.2 m	(31 m)	(35 m)	(25.2 m)
Inventories	2.1 m	(611 k)	(9.1 m)	185 k
Accounts Payable	(457 k)	1.3 m	(502 k)	2.8 m
Cash From Operating Activities	69.6 m	61.6 m	87 m	88.8 m
Cash From Investing Activities	(362.7 m)	(30.4 m)	(37.5 m)	(41.3 m)
Cash From Financing Activities	282.8 m	(13.9 m)	(39.4 m)	(3.3 m)
Interest Paid	27 k	2.8 m	2.9 m	2.9 m
Income Taxes Paid	1.4 m	485 k	1.3 m	2.1 m

Quarterly

USD	Q2, 2014	Q3, 2014	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Net Income	2.3 m	161 k	157 k	1.5 m	4.7 m	5.8 m	4.9 m	7.4 m	9.5 m
Accounts Payable	5.3 m	3.7 m	6.3 m	2.8 m	2.3 m	1.9 m	1.4 m	1.2 m	6.7 m

Ratios

USD	Y, 2017
Revenue/Employee	89.1 k
Financial Leverage	2 x

Medidata Operating Metrics

Medidata's Customers was reported to be 849 in FY, 2016, which is a 39% increase from the previous period

	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Customers	397	486	611	849

Source: Company Filings

Medidata Market Value History

Medidata Revenue Breakdown

Market Position of Medidata

Competitors

Medidata

Company Growth (employees)

Medidata Office Locations

Medidata Data and Metrics

Medidata Financial Metrics

Summary

Revenue (Q1, 2017)

Gross profit (Q1, 2017)

Gross profit margin (Q1, 2017), %

Net income (Q1, 2017)

EBIT (Q1, 2017)

Market capitalization (15-Aug-2017)

Cash (31-Mar-2017)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Interest income

Pre tax profit

Income tax expense

Net Income

Revenue

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Interest expense

Interest income

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventories

Current Assets

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Non-Current Liabilities

Total Liabilities

Common Stock

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash

Current Assets

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Non-Current Liabilities

Common Stock

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash Flow

Net Income

Depreciation and Amortization

Accounts Receivable

Inventories

Accounts Payable

Cash From Operating Activities