EX-99.1 2 slp-20240831xexx991x244.htm EX-99.1 Document

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simulations plus报告2024财年第四季度及财务业绩

2024财年营业收入同比增长18%，达到7000万美元，摊薄后每股收益为0.49美元

提供2025财年的营业收入指导为9000万到9300万（+28%到+33%）以及摊薄后每股收益的调整指导为1.07到1.20

兰开斯特，加利福尼亚，2024年10月23日 - simulations plus公司（纳斯达克：SLP）（“simulations plus”），一家领先的生物仿真、仿真增强性能和智能解决方案以及医疗通信-半导体提供商，今天报告了截至2024年8月31日的其2024财年第四季度财务业绩。

2024年第四季度财务亮点（与2023年第四季度相比）
•总营业收入增长了19%，达到1870万元
•软件营业收入增长6%，达到$990万，占总营业收入的53%。
•服务营业收入增长39%，达到$880万，占总营业收入的47%。
•毛利润为680万美元；毛利率为37%
•经调整的EBITDA为410万美元，占总营业收入的22%，而490万美元，占总营业收入的31%
•净利润为80万美元，摊薄后每股收益为0.04美元，相比之下净利润为50万美元，摊薄后每股收益为0.03美元
•调整后的摊薄后每股收益为0.06美元，不包括收购成本的影响，而调整后的摊薄后每股收益为0.18美元

2024财年财务亮点（与2023财年相比）
•总营业收入增长18%，达到7000万$
•软件营业收入增加了12%，达到4100万美元，占总营业收入的59%
•服务营业收入增加了26%，达到2900万美元，占总营业收入的41%。
•毛利润为4320万美元；毛利率为62%
•调整后的EBITDA为2030万美金，占总营业收入的29%，相比之下，2060万美金占总营业收入的35%
•净利润为1000万美元，摊薄后每股收益为0.49美元，相当于之前的时期
•摊薄后每股收益为0.53美元，不包括收购成本的影响，相比之下调整后摊薄每股收益为0.67美元。

管理层评论

“我们2024财政年度的业绩在我们的软件和服务业务领域均表现强劲，” Simulations Plus首席执行官肖恩·奥康纳表示。“总营业收入增长18%，受益于推出的升级版本，加强了我们跨所有主要平台的生物模拟领导地位，包括所有板块， GastroPlus®, MonolixSuite™ 和 ADMEt Predictor®。有机营收增长，不包括第四季度的营收贡献 Pro-ficiency，为14%。软件营业收入增长12%，由我们的临床药理学和药代动力学(CPP)业务部门领导，其 MonolixSuite 平台扩大了20%。我们的服务部门表现强劲，增长26%，超出我们内部预期，主要是由于我们的定量系统药理学(QSP)和CPP业务部门的强劲增长。

“在6月，我们收购了Pro-ficiency，这是我们公司历史上最大和最重要的并购交易。这次收购将我们的总可服务市场提高到80亿，并预计通过扩大我们在临床运营、医疗事务和商业化方面支持客户的能力，加速未来的增长。整合进展超出预期，我们预计新组合的市场策略将推动更多的业务发展机会。此外，我们共享的科学和技术能力预计将提供更优质的产品和服务，从而进一步惠及我们的客户。

“总体来说，我们度过了一个成功的年份，并进一步巩固了我们的领导地位，拥有一个独特的平台，涵盖了药物开发的价值链。我想感谢我们扩展的团队，他们坚持不懈地致力于通过创新的基于科学的软件和咨询解决方案为客户创造价值，以优化治疗期权并改善患者的生活。”

展望未来，我们预计在2025财年实现健康的营业收入增长。根据当前市场情况，有机增长预计将在10%至15%的区间内。此外，Pro-ficiency收购 - 包括我们的Adaptive Learning and Insights（ALI）和医疗-通信（MC）业务部门 - 预计将贡献1500万至1800万美元。我们2025财年的指导方针如下：

2025财年指导
2025财年指导
收入$9000万 - $93M
营业收入增长28 - 33%
软件组合55 - 60%
调整后的息税折旧摊销前利润率31 - 33%
调整后的摊薄后每股收益$1.07 - $1.20

“接下来谈谈市场情况，制药和生物技术领域的融资环境已经连续两年受到限制。虽然我们对与客户进行的2025年日历年度的初步预算讨论感到鼓舞，但我们仍然保持谨慎乐观的态度，这与我们过去几年采用的策略一致。重要的是，我们相信如果在年内支出有所增加，我们能够很好地应对。

“最后，我们近期的优先事项包括完成收购整合，拓展交叉销售机会，以及朝着35-40%的历史调整后的EBITDA利润率目标及相应的盈利水平努力。我们仍然致力于执行我们的严格增长策略，为我们的利益相关者创造长期价值，”O’Connor总结道。

网络直播和电话会议详情

S霍恩·奥康纳, 首席执行官, 和威尔·弗雷德里克, 致富金融(临时代码)和运营官, 将在今天下午5点东部时间举行电话会议和网络直播，讨论公司本季度的业绩详情和某些前瞻性信息。您可以通过注册来参加此电话会议 这里 或者拨打1-877-451-6152（国内）或1-201-389-0879（国际），或点击此链接请求回电。您也可以在Simulations Plus网站的投资者关系页面上访问网络直播 看涨我™ 链接以请求回电。您可以在Simulations Plus网站的投资者关系页面上访问网络直播 www.simulations-plus.com/investorscorporate-profile/corporate-profile/ 在电话会议大约1小时后也可以在该网站上重播。

非GAAP定义

本新闻稿包含“非公认会计原则财务指标”，这些指标是指排除或包含不在根据美国公认会计原则（“GAAP”）计算和呈现的最直接可比指标内的金额。

对这些非GAAP财务指标的进一步解释和调整已包含在本新闻稿中的财务表格中。

公司认为，提供的非GAAP财务指标有助于理解经营业绩，并在不同时期间提供有意义的比较。公司管理层使用非GAAP财务指标，用于评估其持续经营与历史业绩的关系，进行内部规划和预测，并在绩效报酬的计算中使用。调整后的EBITDA和调整后的摊薄后每股收益代表我们认为投资者和分析师惯常使用的衡量公司财务表现的指标，除了我们提供的GAAP指标之外。我们的管理层也认为这些指标有助于评估我们的核心经营业绩。然而，调整后的EBITDA和调整后的摊薄后每股收益并非按照美国通用会计原则的财务表现指标，并不应视为净收入、营业收入或摊薄后每股收益的替代指标以衡量我们的经营绩效，也不应将净现金提供给经营活动看作我们的流动性衡量指标。我们认为公司的调整后的EBITDA和调整后的摊薄后每股收益指标提供的信息可以直接与同行行业其他公司提供的信息相比较，但其他公司可能会以不同方式计算非GAAP财务结果，尤其是与非经常性、飞凡项目相关的情况。

Please note that the Company has not reconciled the adjusted EBITDA or adjusted diluted earnings per share forward-looking guidance included in this press release to the most directly comparable GAAP measures because this cannot be done without unreasonable effort due to the variability and low visibility with respect to costs related to acquisitions, financings, and employee stock compensation programs, which are potential adjustments to future earnings. We expect the variability of these items to have a potentially unpredictable, and a potentially significant, impact on our future GAAP financial results.

Adjusted EBITDA

Adjusted EBITDA is defined as earnings (loss) before interest, taxes, depreciation and amortization, stock-based compensation, (gain) loss on currency exchange, any acquisition- or financial-transaction-related expenses, change in value of contingent consideration, and any asset impairment charges. Currency exchange excluded represents the exchange rate fluctuations on the foreign-currency-denominated transactions. The impact of transactions in foreign currency represents the effect of converting revenue and expenses occurring in a currency other than the functional currency.

Adjusted Diluted EPS

Adjusted Diluted EPS is calculated based on net income excluding the impact related to the previous items.

Adjusted Diluted EPS for fiscal 2024 is calculated based on net income excluding the impact of any acquisition- or financial-transaction-related expenses, any asset impairment charges, change in value of contingent consideration, and tax provisions/benefits related to the previous items.

The Company excludes the above items because they are outside of the Company’s normal operations and/or, in certain cases, are difficult to forecast accurately for future periods.

About Simulations Plus

With more than 25 years of experience serving clients globally, Simulations Plus stands as a premier provider in the biopharma sector, offering advanced software and consulting services that enhance drug discovery, development, research, clinical trial operations, regulatory submissions, and commercialization. Our comprehensive biosimulation solutions integrate artificial intelligence/machine learning (AI/ML), physiologically based pharmacokinetics, physiologically based biopharmaceutics, quantitative systems pharmacology/toxicology, and population PK/PD modeling approaches. We also deliver simulation-enabled performance and intelligence solutions alongside medical communications support for clinical and commercial drug development. Our cutting-edge technology is licensed and utilized by leading pharmaceutical, biotechnology, and regulatory agencies worldwide. For more information, visit our website at www.simulations-plus.com. Follow us on LinkedIn | X | YouTube.

Environmental, Social, and Governance

We focus our Environmental, Social, and Governance (ESG) efforts where we can have the most positive impact. To learn more about our latest initiatives and priorities, please visit our website to read our 2023 ESG update.

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 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, 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 U.S. Securities and Exchange Commission.

Investor Relations Contacts:
Lisa Fortuna
Financial Profiles
310-622-8251
slp@finprofiles.com

Renee Bouche
Simulations Plus Investor Relations
661-723-7723
renee.bouche@simulations-plus.com




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SIMULATIONS PLUS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Years ended August 31,
(in thousands, except per common share amounts)202420232022
Revenues
Software$41,024 $36,517 $32,642 
Services28,989 23,060 21,264 
Total revenues70,013 59,577 53,906 
Cost of revenues
Software6,478 3,627 3,060 
Services20,384 8,003 7,762 
Total cost of revenues26,862 11,630 10,822 
Gross profit43,151 47,947 43,084 
Operating expenses
Research and development5,754 4,504 3,208 
Sales and marketing8,915 6,558 4,879 
General and administrative22,351 28,160 20,086 
Total operating expenses37,020 39,222 28,173 
Income from operations6,131 8,725 14,911 
Other income6,280 2,970 204 
Income before income taxes12,411 11,695 15,115 
Provision for income taxes(2,457)(1,734)(2,632)
Net income$9,954 $9,961 $12,483 
Earnings per share
Basic$0.50 $0.50 $0.62 
Diluted$0.49 $0.49 $0.60 
Weighted-average common shares outstanding
Basic19,987 20,075 20,196 
Diluted20,301 20,465 20,749 
Other comprehensive (loss) income, net of tax
Foreign currency translation adjustments(105)167 (265)
Unrealized losses on available-for-sale securities$(5)$— $— 
Comprehensive income$9,844 $10,128 $12,218 
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SIMULATIONS PLUS, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share amounts)August 31, 2024August 31, 2023
ASSETS
Current assets
Cash and cash equivalents$10,311 $57,523 
Accounts receivable, net of allowance for credit losses of $149 and $469,136 10,201 
Prepaid income taxes2,197 804 
Prepaid expenses and other current assets7,753 3,904 
Short-term investments9,944 57,940 
Total current assets39,341 130,372 
Long-term assets
Capitalized computer software development costs, net of accumulated amortization of $18,727 and $17,19912,499 11,335 
Property and equipment, net812 671 
Operating lease right-of-use assets1,027 1,247 
Intellectual property, net of accumulated amortization of $5,490 and $9,30123,130 8,689 
Other intangible assets, net of accumulated amortization of $3,177 and $2,10723,210 12,825 
Goodwill96,078 19,099 
Deferred tax assets— 1,438 
Other assets542 425 
Total assets$196,639 $186,101 
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable$602 $144 
Accrued compensation4,513 4,392 
Accrued expenses2,043 659 
Contracts payable2,440 3,250 
Operating lease liability - current portion475 442 
Deferred revenue1,996 3,100 
Total current liabilities12,069 11,987 
Long-term liabilities
Deferred income taxes, net1,608 — 
Operating lease liability531 755 
Contracts payable – net of current portion— 3,330 
Total liabilities14,208 16,072 
Commitments and contingencies— — 
Shareholders' equity
Preferred stock, $0.001 par value - 10,000,000 shares authorized; no shares issued and outstanding$— $— 
Common stock, $0.001 par value and additional paid-in capital —50,000,000 shares authorized; 20,051,134 and 19,937,961 shares issued and outstanding152,328 144,974 
Retained earnings30,354 25,196 
Accumulated other comprehensive loss(251)(141)
Total shareholders' equity182,431 170,029 
Total liabilities and shareholders' equity$196,639 $186,101 
3

SIMULATIONS PLUS, INC.
Trended Financial Information*
(Unaudited)

(in millions except earnings per share amounts)
FY 2023FY 2024FY 2022FY 2023FY 2024
Q1Q2Q3Q4Q1Q2Q3Q4Full YearFull YearFull Year
Revenue
Software$6.1 $10.5 $10.6 $9.3 $7.6 $11.6 $11.9 $9.9 $32.7 $36.5 $41.0 
Services$5.9 $5.3 $5.6 $6.3 $6.9 $6.7 $6.6 $8.8 $21.2 $23.1 $29.0 
Total $12.0 $15.8 $16.2 $15.6 $14.5 $18.3 $18.5 $18.7 $53.9 $59.6 $70.0 
Gross Margin
Software85.4 %92.0 %91.5 %89.4 %86.9 %88.4 %88.2 %72.4 %90.6 %90.1 %84.2 %
Services69.7 %66.2 %63.4 %62.1 %47.0 %44.2 %41.4 %-4.0 %63.5 %65.3 %29.7 %
Total 77.7 %83.4 %81.8 %78.4 %67.9 %72.2 %71.5 %36.6 %79.9 %80.5 %61.6 %
Income from operations$0.9 $4.0 $4.1 $(0.3)$1.0 $4.4 $1.9 $(1.2)$14.9 $8.7 $6.1 
Operating Margin7.3 %25.6 %25.2 %-1.8 %6.6 %24.3 %10.1 %-6.2 %27.7 %14.6 %8.8 %
Net Income$1.2 $4.2 $4.0 $0.5 $1.9 $4.0 $3.1 $0.8 $12.5 $10.0 $10.0 
Diluted Earnings Per Share$0.06 $0.20 $0.20 $0.03 $0.10 $0.20 $0.15 $0.04 $0.60 $0.49 $0.49 
Adjusted EBITDA$3.0 $6.2 $6.5 $4.9 $3.4 $7.1 $5.6 $4.1 $21.5 $20.6 $20.3 
Adjusted Diluted EPS$0.07 $0.21 $0.21 $0.18 $0.09 $0.22 $0.17 $0.06 $0.63 $0.67 $0.53 
Cash Flow from Operations$4.7 $5.5 $8.5 $3.1 $0.2 $5.8 $5.7 $1.6 $17.9 $21.9 $13.3 
Revenue Breakdown by Region
Americas$8.5 $10.6 $10.8 $11.0 $10.9 $12.5 $12.4 $14.7 $37.7 $40.8 $50.4 
EMEA2.1 3.6 3.4 2.6 2.3 4.7 4.5 2.6 10.4 11.7 14.1 
Asia Pacific1.3 1.5 2.1 2.1 1.3 1.2 1.6 1.4 5.8 7.0 5.5 
Total$12.0 $15.8 $16.2 $15.6 $14.5 $18.3 $18.5 $18.7 $53.9 $59.6 $70.0 
Software Performance Metrics
Average Revenue per Customer (in thousands)
Commercial $68.0$110.0$97.088.0$79.0$113.0$97.0$89.0
Services Performance Metrics
Backlog (in millions)$15.8$15.4$15.7$19.5$18.9$18.0$19.6$14.1

*Numbers may not add due to rounding
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SIMULATIONS PLUS, INC.
Reconciliation of Adjusted EBITDA to Net Income*
(Unaudited)

(in millions)
FY 2023FY 2024FY 2022FY 2023FY 2024
Q1Q2Q3Q4Q1Q2Q3Q4Full YearFull YearFull Year
Net Income$1.2 $4.2 $4.0 $0.5 $1.9 $4.0 $3.1 $0.8 $12.5 $10.0 $10.0 
Excluding:
Interest income and expense, net(0.8)(1.0)(1.1)(1.3)(1.3)(1.3)(1.5)(0.2)(0.7)(4.1)(4.4)
Provision for income taxes0.4 0.9 0.9 (0.5)0.5 1.2 0.8 — 2.6 1.7 2.5 
Depreciation and amortization0.9 0.9 0.9 1.1 1.1 1.1 1.3 2.2 3.6 3.9 5.7 
Stock-based compensation0.9 1.2 1.1 1.1 1.3 1.6 1.7 1.4 2.7 4.2 5.9 
(Gain) loss on currency exchange— — 0.3 0.2 — 0.1 — (0.4)0.2 0.5 (0.4)
Impairment of other intangibles— — — 0.5 — — — — — 0.5 — 
Change in value of contingent consideration— — — 0.7 (0.1)0.4 (0.6)(1.4)0.3 0.7 (1.6)
Mergers & Acquisitions expense0.3 0.1 0.4 2.5 — — 0.9 1.7 0.3 3.3 2.6 
Adjusted EBITDA$3.0 $6.2 $6.5 $4.9 $3.4 $7.1 $5.6 $4.1 $21.5 $20.6 $20.3 
*Numbers may not add due to rounding
5

SIMULATIONS PLUS, INC.
Reconciliation of Adjusted Diluted EPS to Diluted EPS*
(Unaudited)
(in millions, except Diluted EPS and Adjusted Diluted EPS)
FY 2023FY 2024FY 2022FY 2023FY 2024

Q1Q2Q3Q4Q1Q2Q3Q4Full YearFull YearFull Year
Net Income (GAAP)$1.2 $4.2 $4.0 $0.5 $1.9 $4.0 $3.1 $0.8 $12.5 $10.0 $10.0 
Excluding:
Mergers & Acquisitions expense0.3 0.1 0.4 0.9 — — 0.9 1.7 0.3 1.7 2.6 
Immunetrics transaction costs— — — 1.6 — — — — — 1.6 — 
Change in value of contingent consideration— — — 0.7 (0.1)0.4 (0.6)(1.4)0.3 0.7 (1.6)
Cognigen trade name write-off— — — 0.5 — — — — — 0.5 — 
Tax effect on above adjustments(0.1)— (0.1)(0.5)— (0.1)(0.1)(0.1)(0.1)(0.7)(0.2)
Adjusted Net income (Non-GAAP)$1.5 $4.2 $4.3 $3.7 $1.8 $4.4 $3.4 $1.1 $13.0 $13.8 $10.8 
Weighted-average common shares outstanding:
Diluted20.8 20.5 20.4 20.4 20.3 20.3 20.4 20.3 20.7 20.5 20.3 
Diluted EPS (GAAP)$0.06 $0.20 $0.20 $0.03 $0.10 $0.20 $0.15 $0.04 $0.60 $0.49 $0.49 
Adjusted Diluted EPS (Non-GAAP)$0.07 $0.21 $0.21 $0.18 $0.09 $0.22 $0.17 $0.06 $0.63 $0.67 $0.53 
*Numbers may not add due to rounding
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