Slide 1: Earnings Call – Q4 - FY24
Earnings Call – Q4 - FY24 October 23, 2024 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Except for historical information, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. Words like “believe,” “expect,” and “anticipate” mean that these are our best estimates as of this writing, but there can be no as
Slide 3: Full Year 2024 Highlights
Full Year 2024 Highlights CURRENT PERIOD $70.0M $0.49 $0.53 29% $14.1M Revenue Diluted EPS Adj. Adj. EBITDA as % Backlog Diluted EPS of Revenue Prior Year Comparison (FY23) $59.6M $0.49 $0.67 35% $19.5M Revenue Diluted EPS Adj. Diluted Adj. EBITDA as Backlog EPS % of Revenue 3
Slide 4: Fourth Quarter Highlights
Fourth Quarter Highlights CURRENT PERIOD $18.7M $0.04 $0.06 22% $14.1M Revenue Diluted EPS Adj. Adj. EBITDA as % Backlog Diluted EPS of Revenue Prior Year Comparison (4Q23) $15.6M $0.03 $0.18 31% $19.5M Revenue Diluted EPS Adj. Diluted Adj. EBITDA as Backlog EPS % of Revenue 4
Slide 5: Software Highlights
Software Highlights – Overall software revenue growth of 12% for FY24 and 6% for FY24Q4 General – – Good renewal rate, upsell and new logo activity Good initial revenue contribution from ALI and MC Cheminformatics Physiologically Clinical Quantitative Adaptive Learning & Medical Based Pharmacology &
Slide 6: Services Highlights
Services Highlights – Overall services revenue growth of 26% for FY24 and 39% for FY24Q4 General – – Total backlog $14.1M – slippage of bookings into Q1FY25 Good initial revenue contribution from MC Clinical Physiologically Physiologically Clinical Quantitative Quantitative Systems Clinical Pharmaco
Slide 7: Financial Results
Financial Results
Slide 8: Revenue - Q4
Revenue - Q4 (in millions) 4Q24 Mix 4Q23 Mix +19% +6% +39% Total Revenue Software Revenue Services Revenue 8
Slide 9: Revenue - Fiscal 2024
Revenue - Fiscal 2024 (in millions) FY24 Mix FY23 Mix +18% +12% +26% Total Revenue Software Revenue Services Revenue 9
Slide 10: Key Software Products as % of Software Revenue
Key Software Products as % of Software Revenue 4Q24 FY24 Fourth Quarter Highlights GastroPlus® ▪ 7 new customers ▪ 15 upsells to existing customers ADMET Predictor® ▪ 4 new customers ▪ 6 upsells to existing customers MonolixSuite ▪ 11 new customers ▪ 4 upsells to existing customers 10
Slide 11: Software Performance Metrics - Q4
Software Performance Metrics - Q4 Commercial Customers Avg. Revenue per Customer Renewal Rates (in thousands) 11
Slide 12: Software Performance Metrics - Fiscal 2024
Software Performance Metrics - Fiscal 2024 Commercial Customers Avg. Revenue per Customer Renewal Rates (in thousands) 12
Slide 13: Services Solutions as % of Services Revenue
Services Solutions as % of Services Revenue 4Q24 FY24 13
Slide 14: Services Performance Metrics
Services Performance Metrics Total Projects Backlog (in millions) 14
Slide 15: Gross Margin Bridge FY23 to FY24
Gross Margin Bridge FY23 to FY24 1 15
Slide 16: Income Statement Summary - Q4
Income Statement Summary - Q4 (in millions, except Diluted EPS and Adjusted Diluted EPS) 4Q24 % of Rev 4Q23 % of Rev Revenue $18.7 100% $15.6 100% Revenue growth 19% 33% Gross profit 6.8 37% 12.3 78% R&D 1.9 10% 1.1 7% S&M 2.6 14% 1.7 11% G&A 3.5 19% 9.8 63% Total operating exp 8.0 43% 12.5 80% Loss
Slide 17: Income Statement Summary - Fiscal 2024
Income Statement Summary - Fiscal 2024 (in millions, except Diluted EPS and Adjusted Diluted EPS) FY24 % of Rev FY23 % of Rev Revenue $70.0 100% $59.6 100% Revenue growth 18% 11% Gross profit 43.2 62% 47.9 80% R&D 5.8 8% 4.5 8% S&M 8.9 13% 6.6 11% G&A 22.4 32% 28.2 47% Total operating exp 37.0 53% 3
Slide 18: Balance Sheet Summary
Balance Sheet Summary (in millions) August 31, 2024 August 31, 2023 Cash and short-term investments $20.3 $115.5 Total current assets 39.3 130.4 Total assets $196.6 $186.1 Current liabilities 12.1 12.0 Long-term liabilities 2.1 4.1 Total liabilities 14.2 16.1 Shareholders’ equity 182.4 170.0 Total l
Slide 19: Fiscal 2025 Guidance
Fiscal 2025 Guidance Guidance Total Revenue $90M - $93M Total Revenue Growth 28% - 33% Software Revenue Mix 55% - 60% Adjusted EBITDA1 Margin 31% - 33% Adjusted Diluted EPS2 $1.07 - $1.20 19
Slide 20: Conclusion
Conclusion CONTINUED LEADERSHIP POSITION IN BIOSIMULATION MARKET Delivering on our Developing organization to Expanding our software and commitment to scientific Creating shareholder value drive growth services portfolio leadership • Release of GastroPlusX • Optimization of business • ALI: Pro-ficie
Slide 21: Adjusted EBITDA Non-GAAP Reconciliation
Adjusted EBITDA Non-GAAP Reconciliation* (in millions) FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Full Year Full Year Full Year Net Income $3.0 $4.4 $4.1 $1.0 $1.2 $4.2 $4.0 $0.5 $1.9 $4.0 $3.1 $0.8 $12.5 $10.0 $10.0 Excluding: Interest income and expense, ne
Slide 22: Adjusted EPS Non-GAAP Reconciliation
Adjusted EPS Non-GAAP Reconciliation* (in millions, except Diluted EPS and Adjusted Diluted EPS) FY 2023 FY 2024 FY 2022 FY 2023 FY 2024 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Full Year Full Year Full Year Net Income (GAAP) $1.2 $4.2 $4.0 $0.5 $1.9 $4.0 $3.1 $0.8 $12.5 $10.0 $10.0 Excluding: Mergers & Acquisitions
Slide 23: Investor Relations Contacts
Investor Relations Contacts: Lisa Fortuna Financial Profiles 310-622-8251 slp@finprofiles.com Renee Bouche Simulations Plus Investor Relations 661-723-7723 renee.bouche@simulations-plus.com