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

附件 99.1
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simulations plus報告2024財年第四季度及財務業績

2024財年營業收入同比增長18%，達到7000萬美元，攤薄後每股收益爲0.49美元

提供2025財年的營業收入指導爲9000萬到9300萬（+28%到+33%）以及攤薄後每股收益的調整指導爲1.07到1.20

蘭開斯特，加利福尼亞，2024年10月23日 - simulations plus公司（納斯達克：SLP）（「simulations plus」），一家領先的生物仿真、仿真增強性能和智能解決方案以及醫療通信-半導體提供商，今天報告了截至2024年8月31日的其2024財年第四季度財務業績。

2024年第四季度財務亮點（與2023年第四季度相比）
•總營業收入增長了19%，達到1870萬元
•軟件營業收入增長6%，達到$990萬，佔總營業收入的53%。
•服務營業收入增長39%，達到$880萬，佔總營業收入的47%。
•毛利潤爲680萬美元；毛利率爲37%
•經調整的EBITDA爲410萬美元，佔總營業收入的22%，而490萬美元，佔總營業收入的31%
•淨利潤爲80萬美元，攤薄後每股收益爲0.04美元，相比之下淨利潤爲50萬美元，攤薄後每股收益爲0.03美元
•調整後的攤薄後每股收益爲0.06美元，不包括收購成本的影響，而調整後的攤薄後每股收益爲0.18美元

2024財年財務亮點（與2023財年相比）
•總營業收入增長18%，達到7000萬$
•軟件營業收入增加了12%，達到4100萬美元，佔總營業收入的59%
•服務營業收入增加了26%，達到2900萬美元，佔總營業收入的41%。
•毛利潤爲4320萬美元；毛利率爲62%
•調整後的EBITDA爲2030萬美金，佔總營業收入的29%，相比之下，2060萬美金佔總營業收入的35%
•淨利潤爲1000萬美元，攤薄後每股收益爲0.49美元，相當於之前的時期
•攤薄後每股收益爲0.53美元，不包括收購成本的影響，相比之下調整後攤薄每股收益爲0.67美元。

管理層評論

「我們2024財政年度的業績在我們的軟件和服務業務領域均表現強勁，」 Simulations Plus首席執行官肖恩·奧康納表示。“總營業收入增長18%，受益於推出的升級版本，加強了我們跨所有主要平台的生物模擬領導地位，包括所有板塊， GastroPlus®, MonolixSuite™ 和 ADMEt Predictor®。有機營收增長，不包括第四季度的營收貢獻 Pro-ficiency，爲14%。軟件營業收入增長12%，由我們的臨床藥理學和藥代動力學(CPP)業務部門領導，其 MonolixSuite 平台擴大了20%。我們的服務部門表現強勁，增長26%，超出我們內部預期，主要是由於我們的定量系統藥理學(QSP)和CPP業務部門的強勁增長。

“在6月，我們收購了Pro-ficiency，這是我們公司歷史上最大和最重要的併購交易。這次收購將我們的總可服務市場提高到80億，並預計通過擴大我們在臨床運營、醫療事務和商業化方面支持客戶的能力，加速未來的增長。整合進展超出預期，我們預計新組合的市場策略將推動更多的業務發展機會。此外，我們共享的科學和技術能力預計將提供更優質的產品和服務，從而進一步惠及我們的客戶。

「總體來說，我們度過了一個成功的年份，並進一步鞏固了我們的領導地位，擁有一個獨特的平台，涵蓋了藥物開發的價值鏈。我想感謝我們擴展的團隊，他們堅持不懈地致力於通過創新的基於科學的軟件和諮詢解決方案爲客戶創造價值，以優化治療期權並改善患者的生活。」

展望未來，我們預計在2025財年實現健康的營業收入增長。根據當前市場情況，有機增長預計將在10%至15%的區間內。此外，Pro-ficiency收購 - 包括我們的Adaptive Learning and Insights（ALI）和醫療-通信（MC）業務部門 - 預計將貢獻1500萬至1800萬美元。我們2025財年的指導方針如下：

2025財年指導
2025財年指導
收入$9000萬 - $93M
營業收入增長28 - 33%
軟件組合55 - 60%
調整後的息稅折舊攤銷前利潤率31 - 33%
調整後的攤薄後每股收益$1.07 - $1.20

“接下來談談市場情況，製藥和生物技術領域的融資環境已經連續兩年受到限制。雖然我們對與客戶進行的2025年日曆年度的初步預算討論感到鼓舞，但我們仍然保持謹慎樂觀的態度，這與我們過去幾年採用的策略一致。重要的是，我們相信如果在年內支出有所增加，我們能夠很好地應對。

「最後，我們近期的優先事項包括完成收購整合，拓展交叉銷售機會，以及朝着35-40%的歷史調整後的EBITDA利潤率目標及相應的盈利水平努力。我們仍然致力於執行我們的嚴格增長策略，爲我們的利益相關者創造長期價值，」O’Connor總結道。

網絡直播和電話會議詳情

S霍恩·奧康納, 首席執行官, 和威爾·弗雷德裏克, 致富金融(臨時代碼)和運營官, 將在今天下午5點東部時間舉行電話會議和網絡直播，討論公司本季度的業績詳情和某些前瞻性信息。您可以通過註冊來參加此電話會議 這裏 或者撥打1-877-451-6152（國內）或1-201-389-0879（國際），或點擊此鏈接請求回電。您也可以在Simulations Plus網站的投資者關係頁面上訪問網絡直播 看漲我™ 鏈接以請求回電。您可以在Simulations Plus網站的投資者關係頁面上訪問網絡直播 www.simulations-plus.com/investorscorporate-profile/corporate-profile/ 在電話會議大約1小時後也可以在該網站上重播。

非GAAP定義

本新聞稿包含「非公認會計原則財務指標」，這些指標是指排除或包含不在根據美國公認會計原則（「GAAP」）計算和呈現的最直接可比指標內的金額。

對這些非GAAP財務指標的進一步解釋和調整已包含在本新聞稿中的財務表格中。

公司認爲，提供的非GAAP財務指標有助於理解經營業績，並在不同時期間提供有意義的比較。公司管理層使用非GAAP財務指標，用於評估其持續經營與歷史業績的關係，進行內部規劃和預測，並在績效報酬的計算中使用。調整後的EBITDA和調整後的攤薄後每股收益代表我們認爲投資者和分析師慣常使用的衡量公司財務表現的指標，除了我們提供的GAAP指標之外。我們的管理層也認爲這些指標有助於評估我們的核心經營業績。然而，調整後的EBITDA和調整後的攤薄後每股收益並非按照美國通用會計原則的財務表現指標，並不應視爲淨收入、營業收入或攤薄後每股收益的替代指標以衡量我們的經營績效，也不應將淨現金提供給經營活動看作我們的流動性衡量指標。我們認爲公司的調整後的EBITDA和調整後的攤薄後每股收益指標提供的信息可以直接與同行行業其他公司提供的信息相比較，但其他公司可能會以不同方式計算非GAAP財務結果，尤其是與非經常性、飛凡項目相關的情況。

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 
2

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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