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Thursday, January 04, 2024 9:29:07 AM
Simulations Plus (SLP) posts strong Q1 growth, leadership changes
By: Investing | January 4, 2024
Simulations Plus , Inc. (NASDAQ:SLP), a leading provider of simulation software for pharmaceutical development, reported a robust start to fiscal 2024 with a 21% increase in first-quarter revenue, which totaled $14.5 million. The Software segment, particularly the Physiologically Based Pharmacokinetics (PBPK) offerings, was a significant growth driver, posting a 25% revenue surge. Despite this, the Clinical Pharmacology and Pharmacometrics (CPP) unit saw a slight 1% dip in revenue. The Services segment also showed strength with a 17% revenue increase. The company's leadership team was strengthened with four key appointments, signaling a strategic emphasis on operational efficiency and market expansion. With a solid backlog and a steady outlook, Simulations Plus remains committed to leveraging AI and predictive analytics to deliver value to its clients.
Key Takeaways
Simulations Plus reported a 21% increase in Q1 revenue, reaching $14.5 million.
The Software segment's revenue grew by 25%, with PBPK revenue up by 27%.
The CPP business unit's revenue declined by 1% due to biotech churn.
Services segment revenue increased by 17%.
Four significant leadership appointments were announced, including a new COO and CRO.
The company's backlog grew to $18.9 million, with over 80% expected to convert to revenue within 12 months.
Adjusted EBITDA rose to $3.4 million, with net income at $1.9 million.
Diluted earnings per share increased to $0.10.
The company ended the quarter with $113.9 million in cash and short-term investments.
Fiscal 2024 revenue guidance remains at a 10% to 15% growth, with software and services segments expected to contribute 55-60% and 40-45% of revenue, respectively.
Company Outlook
Maintains 10%-15% revenue growth guidance for fiscal 2024.
Software segment to contribute 55%-60% of total revenue.
Services segment to account for 40%-45%.
Aims for a 60-40 software to services revenue ratio to sustain profitability.
Read Full Story »»»
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By: Investing | January 4, 2024
Simulations Plus , Inc. (NASDAQ:SLP), a leading provider of simulation software for pharmaceutical development, reported a robust start to fiscal 2024 with a 21% increase in first-quarter revenue, which totaled $14.5 million. The Software segment, particularly the Physiologically Based Pharmacokinetics (PBPK) offerings, was a significant growth driver, posting a 25% revenue surge. Despite this, the Clinical Pharmacology and Pharmacometrics (CPP) unit saw a slight 1% dip in revenue. The Services segment also showed strength with a 17% revenue increase. The company's leadership team was strengthened with four key appointments, signaling a strategic emphasis on operational efficiency and market expansion. With a solid backlog and a steady outlook, Simulations Plus remains committed to leveraging AI and predictive analytics to deliver value to its clients.
Key Takeaways
Simulations Plus reported a 21% increase in Q1 revenue, reaching $14.5 million.
The Software segment's revenue grew by 25%, with PBPK revenue up by 27%.
The CPP business unit's revenue declined by 1% due to biotech churn.
Services segment revenue increased by 17%.
Four significant leadership appointments were announced, including a new COO and CRO.
The company's backlog grew to $18.9 million, with over 80% expected to convert to revenue within 12 months.
Adjusted EBITDA rose to $3.4 million, with net income at $1.9 million.
Diluted earnings per share increased to $0.10.
The company ended the quarter with $113.9 million in cash and short-term investments.
Fiscal 2024 revenue guidance remains at a 10% to 15% growth, with software and services segments expected to contribute 55-60% and 40-45% of revenue, respectively.
Company Outlook
Maintains 10%-15% revenue growth guidance for fiscal 2024.
Software segment to contribute 55%-60% of total revenue.
Services segment to account for 40%-45%.
Aims for a 60-40 software to services revenue ratio to sustain profitability.
Read Full Story »»»
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