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Mar 31, 2024
Certara Q1 2024 Earnings Report
Certara's first quarter performance in 2024, marked by revenue growth driven by the software segment, but net loss compared to net income in the same quarter last year.
Key Takeaways
Certara reported a 7% increase in revenue, driven by strong software revenue growth of 19%. However, the company experienced a net loss of $4.7 million, compared to a net income of $1.4 million in the first quarter of 2023, and a decrease in Adjusted EBITDA to $29.1 million from $32.3 million year-over-year.
Total revenue increased by 7% year-over-year, reaching $96.7 million.
Software revenue grew by 19% year-over-year, amounting to $39.3 million.
Services revenue remained flat at $57.3 million compared to the first quarter of 2023.
The company reported a net loss of $4.7 million, a decrease compared to a net income of $1.4 million in the first quarter of 2023.
Revenue by Segment
Forward Guidance
Certara is reiterating its 2024 outlook, and expects full year 2024 revenue to be in the range of $385 million to $400 million, full year adjusted EBITDA is expected to grow with expected margin to be in the range of 31-33%, full year adjusted diluted earnings per share is expected to be in the range of $0.41-$0.46, and Fully diluted shares are expected to be in the range of 160 million to 162 million.
Positive Outlook
- Full year 2024 revenue to be in the range of $385 million to $400 million.
- Full year adjusted EBITDA is expected to grow with expected margin to be in the range of 31-33%.
- Full year adjusted diluted earnings per share is expected to be in the range of $0.41-$0.46.
- Fully diluted shares are expected to be in the range of 160 million to 162 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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