Business
Simulations Plus Reports Third Quarter Fiscal 2024 Financial Results
Total revenue of $18.5 million and diluted earnings per share (EPS) of $0.15 Maintains full-year revenue guidance of $69 to $72 million and updates EPS
About this update from Simulations Plus, Inc.
[{"type":"text","content":"\nTotal revenue of $18.5 million and diluted earnings per share (EPS) of $0.15\n\n\nMaintains full-year revenue guidance of $69 to $72 million and updates EPS guidance\n\n\n LANCASTER, Calif.--(BUSINESS WIRE)--\nSimulations Plus, Inc. (Nasdaq: SLP) (“Simulations Plus”), a leading provider of biosimulation, simulation-enabled performance and intelligence solutions, and medical communications for the biopharma industry, today reported financial results for its third quarter fiscal 2024, ended May 31, 2024.\n\n\nThird Quarter 2024 Financial Highlights (compared to third quarter 2023)\n\n\n\nTotal revenue increased 14% to $18.5 million\n\n\n\nSoftware revenue increased 12% to $11.9 million, representing 64% of total revenue\n\n\n\nServices revenue increased 18% to $6.6 million, representing 36% of total revenue\n\n\n\nGross profit was constant at $13.3 million; gross margin was 71%\n\n\n\nAdjusted EBITDA of $5.7 million, representing 31% of total revenue\n\n\n\nNet income of $3.1 million and diluted earnings per share (EPS) of $0.15 versus net income of $4.0 million and diluted EPS of $0.20\n\n\n\nAdjusted diluted EPS excluding the impact of acquisition costs of $0.19 versus adjusted diluted EPS of $0.21\n\n\n\nNine Months 2024 Financial Highlights (compared to nine months 2023)\n\n\n\nTotal revenue increased 17% to $51.3 million\n\n\n\nSoftware revenue increased 14% to $31.1 million, representing 61% of total revenue\n\n\n\nServices revenue increased 21% to $20.2 million, representing 39% of total revenue\n\n\n\nGross profit increased 2% to $36.3 million; gross margin was 71%\n\n\n\nAdjusted EBITDA of $16.2 million, representing 32% of total revenue\n\n\n\nNet income of $9.1 million and diluted EPS of $0.45 versus net income of $9.4 million and diluted EPS of $0.46\n\n\n\nAdjusted diluted EPS excluding the impact of acquisition costs was constant at of $0.49\n\n\n\nManagement Commentary\n\n\n“Our third quarter results reflected continued solid performance in both our software and services segments,” said Shawn O’Connor, Chief Executive Officer of Simulations Plus. “Total revenue increased 14%, led by higher software sales in our Cheminformatics and Clinical Pharmacology & Pharmacometrics (CPP) business units, with strong growth in our ADMET Predictor® and MonolixSuite™ platforms, respectively. Our Physiologically Based Pharmacokine...