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Simulations Plus Inc. (SLP+0.15%) has submitted its 10-Q filing for the quarterly period ended November 30, 2024.
The filing reports an increase in consolidated revenues to $18.9 million, up from $14.5 million in the same quarter the previous year. This growth is attributed to higher software-related and service-related revenues.
Cost of revenues rose to $8.7 million from $4.7 million, primarily due to increased software-related and service-related costs.
The company reported a gross profit of $10.2 million, compared to $9.8 million in the previous year, with an overall gross margin of 54%.
Research and development expenses increased to $1.8 million, while sales and marketing expenses rose to $2.9 million, reflecting the impact of the Pro-ficiency acquisition.
General and administrative expenses decreased to $5.4 million, partially due to a shift in cost allocations.
Net income for the quarter was $206,000, down from $1.9 million in the previous year, with diluted earnings per share decreasing to $0.01 from $0.10.
Cash used in operating activities was $1.3 million, with cash and cash equivalents totaling $6.2 million at the end of the period.
The filing also details the completion of the Pro-ficiency acquisition and the associated financial impacts, including integration costs and changes in organizational structure.
Simulations Plus continues to focus on its strategic goals, including the expansion of its product offerings and the optimization of its operational structure.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Simulations Plus Inc. quarterly 10-Q report dated January 8, 2025. To report an error, please email earnings@qz.com.