Simulations Plus Reports First Quarter Fiscal 2024 Financial Results

Published

Total revenue of $14.5 million and diluted earnings per share (EPS) of $0.10

Maintains full-year revenue guidance of $66 to $69 million (+10-15%) and EPS guidance of $0.66 to $0.68

LANCASTER, Calif.--(BUSINESS WIRE)-- Simulations Plus, Inc. (NASDAQ: SLP) (“Simulations Plus”), a leading provider of modeling and simulation software and services for pharmaceutical safety and efficacy, today reported financial results for its first quarter fiscal 2024, ended November 30, 2023.

First Quarter Financial Highlights

  • Total revenue increased 21% to $14.5 million
  • Software revenue increased 25% to $7.6 million, representing 52% of total revenue
  • Services revenue increased 17% to $6.9 million, representing 48% of total revenue
  • Gross profit increased 6% to $9.8 million; gross margin was 68%
  • Adjusted EBITDA of $3.4 million, representing 23% of total revenue
  • Net income of $1.9 million and diluted earnings per share (EPS) of $0.10, compared to net income of $1.2 million and diluted EPS of $0.06 in the first quarter of 2023

Management Commentary

“Our first quarter performance marked a successful start to the year and was in line with our expectations,” said Shawn O’Connor, Chief Executive Officer of Simulations Plus. “With these strong results, we are maintaining our guidance for the full year. Even though client funding and budget cycles remain softer than historical levels, we are cautiously optimistic that our market may be on the path to improvement.

“First quarter revenue increased 21% year-over-year, driven by higher software revenues in our Quantitative Systems Pharmacology (QSP) oncology modeling platform and our Physiologically Based Pharmacokinetics (PBPK) business unit that had a strong contribution from GastroPlus. I am proud of what our team accomplished this quarter to deliver a 67% increase in EPS.

“Today we announced in a separate press release four key strategic leadership appointments that will advance our objective to seamlessly and organically align with our clients’ needs. These appointments reflect our commitment to providing our organization with the leadership that best positions us for our next stage of growth.

“We entered the second quarter with a healthy pipeline, strong profitability, and a sound balance sheet. The underlying fundamentals of our market remain resilient as demand for modeling and simulation tools continues to play a greater role in drug development workflow. We remain focused on continuing to produce disciplined growth that delivers long-term returns for our shareholders.”

Fiscal 2024 Guidance

 

 

Fiscal 2024 Guidance

 

Annual Increase

Revenue

 

$66M - $69M

 

10 - 15%

Software mix

 

55 - 60%

 

Services mix

 

40 - 45%

 

Diluted earnings per share

 

$0.66 - $0.68

 

35 - 39%

Quarterly Dividend

The Company’s Board of Directors declared a cash dividend of $0.06 per share of the Company’s common stock, payable on February 5, 2024, to shareholders of record as of January 29, 2024. The declaration of any future dividends will be determined by the Board of Directors each quarter and will depend on earnings, financial condition, capital requirements, and other factors.

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 ESG website.

Webcast and Conference Call Details

Shawn O’Connor, chief executive officer, and Will Frederick, chief financial and operating officer, will host a conference call and webcast today at 5 p.m. Eastern Time to discuss the details of the Company’s performance for the quarter and certain forward-looking information. The call may be accessed by registering here or by calling 1-877-451-6152 or 1-201-389-0879. The webcast will be available on our website under Conference Calls & Presentations. A replay of the webcast will be available on the website approximately one hour following the call.

Non-GAAP Definitions

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, 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. The Company believes that the non-GAAP financial measures presented facilitate an understanding of operating performance and provide a meaningful comparison of its results between periods. The Company’s management uses non-GAAP financial measures to, among other things, evaluate its ongoing operations in relation to historical results, for internal planning and forecasting purposes and in the calculation of performance-based compensation. Adjusted EBITDA represents a measure that we believe is customarily used by investors and analysts to evaluate the financial performance of companies in addition to the GAAP measures that we present. Our management also believes that Adjusted EBITDA is useful in evaluating our core operating results. However, Adjusted EBITDA is not a measure of financial performance under accounting principles generally accepted in the United States of America and should not be considered an alternative to net income or operating income as an indicator of our operating performance or to net cash provided by operating activities as a measure of our liquidity. The Company’s Adjusted EBITDA measure may not provide information that is directly comparable to that provided by other companies in its industry, as other companies in its industry may calculate non-GAAP financial results differently, particularly related to nonrecurring, unusual items.

Adjusted Diluted EPS

Adjusted diluted EPS is calculated based on net income excluding the impact of any acquisition- or financial-transaction-related expenses, any asset impairment charges, 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.

The Company believes that the use of non-GAAP measures helps investors to gain a better understanding of the Company’s core operating results and future prospects, consistent with how management measures and forecasts the Company’s performance, especially when comparing such results to previous periods or forecasts.

About Simulations Plus

Serving clients worldwide for more than 25 years, Simulations Plus is a leading provider in the biosimulation market providing software and consulting services supporting drug discovery, development, research, and regulatory submissions. We offer solutions that bridge artificial intelligence (AI)/machine learning, physiologically based pharmacokinetics, quantitative systems pharmacology/toxicology, and population PK/PD modeling approaches. Our technology is licensed and applied by major pharmaceutical, biotechnology, and regulatory agencies worldwide. For more information, visit our website at https://www.simulations-plus.com/. Follow us on LinkedIn | Twitter | YouTube.

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 U.S. Securities and Exchange Commission.

SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(Unaudited)

 

 

Three Months Ended November 30,

(in thousands, except per common share amounts)

 

 

2023

 

 

 

2022

 

Revenues

 

 

 

 

Software

 

$

7,589

 

 

$

6,074

 

Services

 

 

6,911

 

 

 

5,890

 

Total revenues

 

 

14,500

 

 

 

11,964

 

Cost of revenues

 

 

 

 

Software

 

 

991

 

 

 

885

 

Services

 

 

3,661

 

 

 

1,786

 

Total cost of revenues

 

 

4,652

 

 

 

2,671

 

Gross profit

 

 

9,848

 

 

 

9,293

 

Operating expenses

 

 

 

 

Research and development

 

 

1,217

 

 

 

1,166

 

Selling and marketing

 

 

1,989

 

 

 

1,485

 

General and administrative

 

 

5,682

 

 

 

5,764

 

Total operating expenses

 

 

8,888

 

 

 

8,415

 

 

 

 

 

 

Income from operations

 

 

960

 

 

 

878

 

 

 

 

 

 

Other income

 

 

1,446

 

 

 

740

 

 

 

 

 

 

Income before income taxes

 

 

2,406

 

 

 

1,618

 

Provision for income taxes

 

 

(461

)

 

 

(373

)

Net income

 

$

1,945

 

 

$

1,245

 

 

 

 

 

 

Earnings per share

 

 

 

 

Basic

 

$

0.10

 

 

$

0.06

 

Diluted

 

$

0.10

 

 

$

0.06

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

 

 

Basic

 

 

19,947

 

 

 

20,286

 

Diluted

 

 

20,279

 

 

 

20,825

 

 

 

 

 

 

Other comprehensive income, net of tax

 

 

 

 

Foreign currency translation adjustments

 

 

(54

)

 

 

53

 

Comprehensive income

 

$

1,891

 

 

$

1,298

 

SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

(Unaudited)

 

(Audited)

(in thousands, except share and per share amounts)

 

November 30, 2023

 

August 31, 2023

ASSETS

 

 

 

 

Current assets

 

 

 

 

Cash and cash equivalents

 

$

39,789

 

 

$

57,523

 

Accounts receivable, net of allowance for credit losses of $37 and $46

 

 

10,346

 

 

 

10,201

 

Prepaid income taxes

 

 

37

 

 

 

804

 

Prepaid expenses and other current assets

 

 

5,414

 

 

 

3,904

 

Short-term investments

 

 

74,101

 

 

 

57,940

 

Total current assets

 

 

129,687

 

 

 

130,372

 

Long-term assets

 

 

 

 

Capitalized computer software development costs, net of accumulated amortization of $17,580 and $17,199

 

 

11,896

 

 

 

11,335

 

Property and equipment, net

 

 

487

 

 

 

671

 

Operating lease right-of-use assets

 

 

1,118

 

 

 

1,247

 

Intellectual property, net of accumulated amortization of $9,709 and $9,301

 

 

8,281

 

 

 

8,689

 

Other intangible assets, net of accumulated amortization of $2,351 and $2,107

 

 

12,954

 

 

 

12,825

 

Goodwill

 

 

19,099

 

 

 

19,099

 

Deferred tax assets

 

 

1,826

 

 

 

1,438

 

Other assets

 

 

430

 

 

 

425

 

Total assets

 

$

185,778

 

 

$

186,101

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

Current liabilities

 

 

 

 

Accounts payable

 

$

317

 

 

$

144

 

Accrued compensation

 

 

2,170

 

 

 

4,392

 

Accrued expenses

 

 

731

 

 

 

659

 

Contracts payable

 

 

2,290

 

 

 

3,250

 

Operating lease liability - current portion

 

 

420

 

 

 

442

 

Deferred revenue

 

 

2,660

 

 

 

3,100

 

Total current liabilities

 

 

8,588

 

 

 

11,987

 

Long-term liabilities

 

 

 

 

Operating lease liability

 

 

669

 

 

 

755

 

Contracts payable – net of current portion

 

 

4,180

 

 

 

3,330

 

Total liabilities

 

 

13,437

 

 

 

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; 19,937,961 and 19,937,961 shares issued and outstanding

 

 

146,591

 

 

 

144,974

 

Retained earnings

 

 

25,945

 

 

 

25,196

 

Accumulated other comprehensive loss

 

 

(195

)

 

 

(141

)

Total shareholders' equity

 

 

172,341

 

 

 

170,029

 

Total liabilities and shareholders' equity

 

$

185,778

 

 

$

186,101

 

SIMULATIONS PLUS, INC.

Trended Financial Information*

(Unaudited)

(in millions except earnings per share amounts)

 

 

FY 2022

 

FY 2023

 

FY 2024

 

 

2022

 

 

 

2023

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

FY

 

FY

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software

 

$

7.4

 

 

$

9.8

 

 

$

9.6

 

 

$

5.9

 

 

$

6.1

 

 

$

10.5

 

 

$

10.6

 

 

$

9.3

 

 

$

7.6

 

 

$

32.7

 

 

$

36.5

 

Services

 

 

5.0

 

 

 

5.0

 

 

 

5.3

 

 

 

5.8

 

 

 

5.9

 

 

 

5.3

 

 

 

5.6

 

 

 

6.3

 

 

 

6.9

 

 

 

21.2

 

 

 

23.1

 

Total

 

$

12.4

 

 

$

14.8

 

 

$

15.0

 

 

$

11.7

 

 

$

12.0

 

 

$

15.8

 

 

$

16.2

 

 

$

15.6

 

 

$

14.5

 

 

$

53.9

 

 

$

59.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software

 

 

90.0

%

 

 

92.0

%

 

 

92.4

%

 

 

86.1

%

 

 

85.4

%

 

 

92.0

%

 

 

91.5

%

 

 

89.4

%

 

 

86.9

%

 

 

90.6

%

 

 

90.1

%

Services

 

 

60.0

%

 

 

59.3

%

 

 

65.6

%

 

 

68.2

%

 

 

69.7

%

 

 

66.2

%

 

 

63.4

%

 

 

62.1

%

 

 

47.0

%

 

 

63.5

%

 

 

65.3

%

Total

 

 

77.8

%

 

 

80.9

%

 

 

82.9

%

 

 

77.2

%

 

 

77.7

%

 

 

83.4

%

 

 

81.8

%

 

 

78.4

%

 

 

67.9

%

 

 

79.9

%

 

 

80.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

3.8

 

 

$

5.5

 

 

$

4.9

 

 

$

0.7

 

 

$

0.9

 

 

$

4.0

 

 

$

4.1

 

 

$

(0.3

)

 

$

1.0

 

 

$

14.9

 

 

$

8.7

 

Operating Margin

 

 

30.6

%

 

 

37.0

%

 

 

33.1

%

 

 

5.9

%

 

 

7.3

%

 

 

25.6

%

 

 

25.2

%

 

 

-1.8

%

 

 

6.6

%

 

 

27.7

%

 

 

14.6

%

Net Income

 

$

3.0

 

 

$

4.4

 

 

$

4.1

 

 

$

1.0

 

 

$

1.2

 

 

$

4.2

 

 

$

4.0

 

 

$

0.5

 

 

$

1.9

 

 

$

12.5

 

 

$

10.0

 

Diluted Earnings Per Share

 

$

0.15

 

 

$

0.21

 

 

$

0.20

 

 

$

0.05

 

 

$

0.06

 

 

$

0.20

 

 

$

0.20

 

 

$

0.03

 

 

$

0.10

 

 

$

0.60

 

 

$

0.49

 

Adjusted EBITDA

 

$

5.3

 

 

$

7.2

 

 

$

6.5

 

 

$

2.5

 

 

$

3.0

 

 

$

6.2

 

 

$

6.5

 

 

$

4.9

 

 

$

3.4

 

 

$

21.5

 

 

$

20.6

 

Adjusted Diluted EPS

 

$

0.15

 

 

$

0.21

 

 

$

0.20

 

 

$

0.06

 

 

$

0.07

 

 

$

0.21

 

 

$

0.21

 

 

$

0.18

 

 

$

0.10

 

 

$

0.61

 

 

$

0.67

 

Cash Flow from Operations

 

$

3.6

 

 

$

2.6

 

 

$

3.8

 

 

$

7.9

 

 

$

4.7

 

 

$

5.5

 

 

$

8.5

 

 

$

3.1

 

 

$

0.2

 

 

$

17.9

 

 

$

21.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue Breakdown by Region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

8.5

 

 

$

9.7

 

 

$

11.2

 

 

$

8.4

 

 

$

8.5

 

 

$

10.6

 

 

$

10.8

 

 

$

11.0

 

 

$

10.9

 

 

$

37.7

 

 

$

40.8

 

EMEA

 

 

3.0

 

 

 

3.7

 

 

 

1.9

 

 

 

1.7

 

 

 

2.1

 

 

 

3.6

 

 

 

3.4

 

 

 

2.6

 

 

 

2.3

 

 

 

10.4

 

 

 

11.7

 

Asia Pacific

 

 

0.9

 

 

 

1.4

 

 

 

1.9

 

 

 

1.6

 

 

 

1.3

 

 

 

1.5

 

 

 

2.1

 

 

 

2.1

 

 

 

1.3

 

 

 

5.8

 

 

 

7.0

 

Total

 

$

12.4

 

 

$

14.8

 

 

$

15.0

 

 

$

11.7

 

 

$

12.0

 

 

$

15.8

 

 

$

16.2

 

 

$

15.6

 

 

$

14.5

 

 

$

53.9

 

 

$

59.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software Performance Metrics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average Revenue per Customer (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

71

 

 

$

101

 

 

$

95

 

 

$

65

 

 

$

68

 

 

$

110

 

 

$

97

 

 

$

88

 

 

$

79

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Services Performance Metrics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Backlog (in millions)

 

$

15.4

 

 

$

17.0

 

 

$

16.7

 

 

$

15.9

 

 

$

15.8

 

 

$

15.4

 

 

$

15.7

 

 

$

19.5

 

 

$

18.9

 

 

 

 

 

*Numbers may not add due to rounding

SIMULATIONS PLUS, INC.

Reconciliation of Adjusted EBITDA to Net Income*

(Unaudited)

(in millions)

 

 

FY 2022

 

FY 2023

 

FY 2024

 

 

2022

 

 

 

2023

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

FY

 

FY

Net Income

 

$

3.0

 

 

$

4.4

 

 

$

4.1

 

 

$

1.0

 

 

$

1.2

 

 

$

4.2

 

 

$

4.0

 

 

$

0.5

 

 

$

1.9

 

 

$

12.5

 

 

$

10.0

 

Excluding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income and expense, net

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.1

)

 

 

(0.4

)

 

 

(0.8

)

 

 

(1.0

)

 

 

(1.1

)

 

 

(1.3

)

 

 

(1.3

)

 

 

(0.7

)

 

 

(4.1

)

Provision for income taxes

 

 

0.8

 

 

 

1.1

 

 

 

0.7

 

 

 

(0.1

)

 

 

0.4

 

 

 

0.9

 

 

 

0.9

 

 

 

(0.5

)

 

 

0.5

 

 

 

2.6

 

 

 

1.7

 

Depreciation and amortization

 

 

0.8

 

 

 

1.0

 

 

 

0.9

 

 

 

0.9

 

 

 

0.9

 

 

 

0.9

 

 

 

0.9

 

 

 

1.1

 

 

 

1.1

 

 

 

3.6

 

 

 

3.9

 

Stock-based compensation

 

 

0.6

 

 

 

0.7

 

 

 

0.7

 

 

 

0.7

 

 

 

0.9

 

 

 

1.2

 

 

 

1.1

 

 

 

1.1

 

 

 

1.3

 

 

 

2.7

 

 

 

4.2

 

(Gain) loss on currency exchange

 

 

(0.1

)

 

 

(0.1

)

 

 

0.2

 

 

 

0.2

 

 

 

 

 

 

 

 

 

0.3

 

 

 

0.2

 

 

 

 

 

 

0.2

 

 

 

0.5

 

Impairment of other intangibles

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.5

 

 

 

 

 

 

 

 

 

0.5

 

Change in value of contingent consideration

 

 

0.1

 

 

 

0.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.7

 

 

 

(0.1

)

 

 

0.3

 

 

 

0.7

 

Mergers & Acquisitions expense

 

 

 

 

 

 

 

 

 

 

 

0.3

 

 

 

0.3

 

 

 

0.1

 

 

 

0.4

 

 

 

2.5

 

 

 

 

 

 

0.3

 

 

 

3.3

 

Adjusted EBITDA

 

$

5.3

 

 

$

7.2

 

 

$

6.5

 

 

$

2.5

 

 

$

3.0

 

 

$

6.2

 

 

$

6.5

 

 

$

4.9

 

 

$

3.4

 

 

$

21.5

 

 

$

20.6

 

*Numbers may not add due to rounding

SIMULATIONS PLUS, INC.

Reconciliation of Adjusted Diluted EPS to Diluted EPS*

(Unaudited)

(in millions, except Diluted EPS and Adjusted Diluted EPS)

 

 

FY 2022

 

FY 2023

 

FY 2024

 

 

2022

 

 

 

2023

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

FY

 

FY

Net Income (GAAP)

 

$

3.0

 

$

4.4

 

$

4.1

 

$

1.0

 

 

$

1.2

 

 

$

4.2

 

$

4.0

 

 

$

0.5

 

 

$

1.9

 

$

12.5

 

 

$

10.0

 

Excluding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mergers & Acquisitions expense

 

 

 

 

 

 

 

 

0.3

 

 

 

0.3

 

 

 

0.1

 

 

0.4

 

 

 

0.9

 

 

 

 

 

0.3

 

 

 

1.7

 

Immunetrics transaction costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.3

 

 

 

 

 

 

 

 

2.3

 

Cognigen trade name write-off

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.5

 

 

 

 

 

 

 

 

0.5

 

Tax effect on above adjustments

 

 

 

 

 

 

 

 

(0.1

)

 

 

(0.1

)

 

 

 

 

(0.1

)

 

 

(0.5

)

 

 

 

 

(0.1

)

 

 

(0.7

)

Adjusted Net income (Non-GAAP)

 

$

3.0

 

$

4.4

 

$

4.1

 

$

1.2

 

 

$

1.5

 

 

$

4.2

 

$

4.3

 

 

$

3.7

 

 

$

1.9

 

$

12.8

 

 

$

13.8

 

Weighted-average common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

20.7

 

 

20.7

 

 

20.8

 

 

20.9

 

 

 

20.8

 

 

 

20.5

 

 

20.4

 

 

 

20.4

 

 

 

20.3

 

 

20.7

 

 

 

20.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS (GAAP)

 

$

0.15

 

$

0.21

 

$

0.20

 

$

0.05

 

 

$

0.06

 

 

$

0.20

 

$

0.20

 

 

$

0.03

 

 

$

0.10

 

$

0.60

 

 

$

0.49

 

Adjusted Diluted EPS (Non-GAAP)

 

$

0.15

 

$

0.21

 

$

0.20

 

$

0.06

 

 

$

0.07

 

 

$

0.21

 

$

0.21

 

 

$

0.18

 

 

$

0.10

 

$

0.61

 

 

$

0.67

 

*Numbers may not add due to rounding

Investor Relations Contacts: Tamara Gonzalez Financial Profiles 310-622-8234 slp@finprofiles.com

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

Source: Simulations Plus, Inc.

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