Simulations Plus, Inc. has recently released its 10-Q report, providing a detailed look into the company's financial performance and operations. Simulations Plus, Inc. develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services, offering a range of products and consulting services to pharmaceutical, biotechnology, agrochemical, cosmetics, and food industry companies, as well as academic and regulatory agencies.
In the 10-Q report, under Item 2 * Management’s Discussion and Analysis of Financial Condition and Results of Operations, Simulations Plus reported a total revenue of $18.5 million for the three months ended May 31, 2024, compared to $16.2 million for the same period in 2023. For the nine months ended May 31, 2024, the company reported total revenue of $51.3 million, compared to $44 million for the same period in 2023. The company's gross profit for the three months ended May 31, 2024, was $13.3 million, and $36.3 million for the nine months ended May 31, 2024.
Under Item 3 * Quantitative and Qualitative Disclosures about Market Risk, Simulations Plus disclosed that as of May 31, 2024, the remaining performance obligations were $10.5 million, with 96% of the remaining performance obligations expected to be recognized over the next twelve months.
Furthermore, in the 10-Q report, Simulations Plus provided a breakdown of its condensed consolidated balance sheets, statements of operations and comprehensive income, statements of shareholders' equity, and statements of cash flows for the nine months ended May 31, 2024, offering a comprehensive view of the company's financial position and performance. The report also included significant accounting policies, principles of consolidation, use of estimates, reclassifications, revenue recognition, components of revenue, and disaggregation of revenues, providing transparency into the company's financial reporting practices and policies. The market has reacted to these announcements by moving the company's shares 2.1% to a price of $39.7. For the full picture, make sure to review Simulations Plus's 10-Q report.
