SIMULATIONS PLUS, INC. Second Quarter 2024 Financial Highlights (compared to second quarter 2023)
Total revenue increased 16% to
Software revenue increased 11% to
Services revenue increased 27% to
Gross profit increased to
Adjusted EBITDA of
Net income of
Six Months 2024 Financial Highlights (compared to six months 2023)
Total revenue increased 18% to
Software revenue increased 16% to
Services revenue increased 22% to
Gross profit increased 3% to
Adjusted EBITDA of
Net income of
Management Commentary
'Our second quarter results reflected strong performance in both our software and services segments,' said
'Since the beginning of calendar 2024, we have seen encouraging signs in biotech funding with notable strength from biotech companies that have candidates undergoing clinical trials. Regarding large pharmaceutical companies, funding continues to vary depending on their near-term direction and business outlook, but the overall market is healthier compared to a year ago. For the balance of 2024, we remain cautiously optimistic that demand for our comprehensive suite of modeling and simulation software products and services will continue to gain momentum as the funding environment improves.
'During the quarter, we also launched our corporate development initiative to intensify our focus on strategic investments and partnerships in early-state technology companies. While strategic acquisitions to complement organic growth remain a priority, we believe there are hidden gems among early-stage companies developing high-potential technologies. We believe that our ability to identify and evaluate commercial applications for emerging technologies will complement our own R&D efforts and position
'Our strong performance in the first half of the year, combined with market improvement, puts us on track to achieve our guidance for fiscal 2024. We entered the third quarter with a healthy pipeline and a solid balance sheet, and we are confident that
Quarterly Dividend
The Company's Board of Directors declared a cash dividend of
About
Serving clients worldwide for more than 25 years,
Forward-Looking Statements
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 assurances that expected or anticipated results or events will actually take place, so our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to successfully integrate the Immunetrics 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, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, market conditions, macroeconomic factors, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports and filed with the
Contact:
Tel: 310-622-8251
Email: slp@finprofiles.com
Tel: 661-723-7723
Email: renee.bouche@simulations-plus.com
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