Business
Simulations Plus Reports Second Quarter Fiscal 2022 Financial Results
Total revenue growth of 13%; Software revenue growth of 25%; Diluted Earnings Per Share (EPS) growth of 40% Board of Directors announces quarterly dividend
About this update from Simulations Plus, Inc.
[{"type":"text","content":"\nTotal revenue growth of 13%; Software revenue growth of 25%; Diluted Earnings Per Share (EPS) growth of 40%\n\nBoard of Directors announces quarterly dividend of $0.06 per share\n\n LANCASTER, Calif.--(BUSINESS WIRE)--\nSimulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation software and services for pharmaceutical safety and efficacy, today reported financial results for its second quarter of fiscal 2022, ended February 28, 2022.\n\n“We generated solid revenue growth, improved margins and strong EPS growth during the second quarter, demonstrating the health of our business and the operating leverage in our model,” said Shawn O’Connor, chief executive officer of Simulations Plus. “Our software business continued its rapid expansion and our services business generated strong bookings and backlog growth with a large pipeline of opportunities.”\n\n“We delivered double-digit revenue increases across our three major software platforms as a result of our increased upsell efforts and the addition of 18 new customers,” added Mr. O’Connor. “MonolixSuite® revenue was especially strong, with 43% growth, and is now our second-highest selling software product. The 25% growth in our software business offset the 5% decline in our services business this quarter and software revenue is now contributing over 60% of our revenue. The results represent an encouraging first half of the fiscal year and demonstrate that we are on-pace to achieve our full-year goals.”\n\nSecond Quarter Fiscal 2022 Financial Highlights (compared with the corresponding period last fiscal year):\n\n\nTotal revenue increased 13% to $14.8 million;\n\n\nSoftware revenue increased 25% to $9.8 million, representing 66% of total revenue;\n\n\nServices revenue declined 5% to $5.0 million, representing 34% of total revenue;\n\n\nGross profit increased 17% to $12.0 million; gross margin was 81%;\n\n\nNet income and diluted EPS of $4.4 million and $0.21 compared to $3.2 million and $0.15, respectively;\n\n\nAdjusted EBITDA of $7.2 million, representing 48% of total revenue.\n\n\nYTD Financial Highlights (compared with the corresponding period last fiscal year):\n\n\nTotal revenue increased 14% to $27.2 million;\n\n\nSoftware revenue increased 23% to $17.1 million, representing 63% of total revenue;\n\n\nServices revenue increased 2% to $10.1 million, re...