Simulations Plus Q3 2024 Earnings Report
Key Takeaways
Simulations Plus reported a 14% increase in total revenue to $18.5 million for the third quarter of fiscal year 2024. EPS was $0.15, compared to $0.20 in the same quarter last year. The company maintains full-year revenue guidance of $69 to $72 million and updates EPS guidance.
Total revenue increased 14% to $18.5 million.
Software revenue increased 12% to $11.9 million, representing 64% of total revenue.
Services revenue increased 18% to $6.6 million, representing 36% of total revenue.
Net income was $3.1 million, with diluted earnings per share (EPS) of $0.15.
Simulations Plus
Simulations Plus
Simulations Plus Revenue by Segment
Simulations Plus Revenue by Geographic Location
Forward Guidance
Simulations Plus maintains full-year revenue guidance of $69 million to $72 million and updates EPS guidance. The Clinical Simulations and Medical Communications (CSMC) business unit is expected to contribute approximately $3 million to fiscal 2024 revenue.
Positive Outlook
- Full-year revenue is expected to be between $69 million and $72 million.
- CSMC business unit is expected to contribute approximately $3 million to fiscal 2024 revenue.
- Healthy pipeline entering the final fiscal quarter of 2024.
- Disciplined growth strategy is expected to deliver long-term returns for shareholders.
- Biotech funding is starting to show signs of recovery.
Challenges Ahead
- Spending patterns among large pharmaceutical companies vary, with some increasing expenditures while others remain conservative.
- There can be no assurances that expected or anticipated results or events will actually take place.
- Our ability to successfully integrate the Pro-ficiency business with our own, as well as expenses we may incur in connection therewith
- Our ability to maintain our competitive advantages.
- Acceptance of new software and improved versions of our existing software by our customers.
Revenue & Expenses
Visualization of income flow from segment revenue to net income