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.
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.
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