In This Story
Simulations Plus Inc. (SLP+26.94%) has submitted its 10-Q filing for the quarterly period ended February 28, 2025.
The filing includes financial statements for the quarter, showing an increase in total revenues to $22,432,000 from $18,305,000 in the same quarter of the previous year. This increase is attributed to a rise in both software and service-related revenues.
Cost of revenues for the quarter was $9,305,000, representing 41% of sales, compared to 28% in the same quarter of the previous year. This increase in cost ratio is due to higher amortization and service-related costs.
The company reported a gross profit of $13,127,000 for the quarter, compared to $13,221,000 in the previous year, with a slight decline attributed to increased costs.
Research and development expenses increased to $2,143,000 from $1,312,000, reflecting higher costs associated with the acquisition of Pro-ficiency.
Sales and marketing expenses rose to $3,717,000 from $1,949,000, primarily due to increased event-related spending and higher sales commissions.
General and administrative expenses decreased to $4,555,000 from $5,518,000, largely due to a shift in cost allocation following the company's internal restructuring.
Net income for the quarter was $3,074,000, down from $4,029,000 in the previous year. The decrease is attributed to higher operating expenses.
Cash provided by operating activities was $4,395,000, while cash used in investing and financing activities was $2,454,000 and $1,260,000, respectively.
Simulations Plus had a working capital of $36,022,000 as of February 28, 2025. The company continues to focus on strategic acquisitions and investments to drive growth.
The filing also details the completion of the Pro-ficiency acquisition and the final payment related to the Immunetrics acquisition.
Simulations Plus does not anticipate any share repurchases in the near future.
The company identified no material changes in its internal controls over financial reporting for the quarter.
Simulations Plus continues to focus on expanding its software and services offerings in the biopharma sector, emphasizing its model-informed drug development solutions.
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 April 4, 2025. To report an error, please email earnings@qz.com.