Yes. Both full custom and stock-shape medals can use a neck ribbon, and the ribbon can carry the race name, colors, year, or sponsor logos.
Sponsor logos may also be included on the stock-shape dome or insert when space allows. If there are several sponsors, the ribbon or race shirt may be a cleaner placement.
MSH Medals can coordinate the medal, ribbon, and race shirt so they share the same logo, colors, theme, or overall look and feel.