SLP Simulations Plus Inc

Total revenue up 31% year-over-year primarily driven by strong software growth

Simulations Plus, Inc. (Nasdaq: SLP) (“Simulations Plus”), a leading provider of cheminformatics, biosimulation, simulation-enabled performance and intelligence solutions, and medical communications to the biopharma industry, today reported financial results for its first quarter fiscal 2025, ended November 30, 2024.

First Quarter 2025 Financial Highlights (compared to first quarter 2024)

• Total revenue increased 31% to $18.9 million
• Software revenue increased 41% to $10.7 million, representing 57% of total revenue
• Services revenue increased 19% to $8.2 million, representing 43% of total revenue
• Gross profit of $10.2 million; gross margin was 54%
• Net income of $0.2 million and diluted EPS of $0.01 compared to net income of $1.9 million and diluted EPS of $0.10
• Adjusted EBITDA of $4.5 million, representing 24% of total revenue, compared to $3.4 million, representing 23% of total revenue
• Adjusted net income of $3.4 million and adjusted diluted EPS of $0.17, compared to adjusted net income of $3.7 million and adjusted diluted EPS of $0.18

Management Commentary

“We are off to a strong start to fiscal 2025 with total revenue increasing by 31% in the first quarter,” said Shawn O’Connor, Chief Executive Officer of Simulations Plus. “Our team delivered 41% growth across our software platforms.  MonolixSuite™  was a meaningful contributor with a 43% growth rate this quarter.  We are seeing increased adoption for this leading edge solution including a recent commitment from a major pharmaceutical client to fully implement PKanalix®, which is the user-friendly and fast application for compartmental analysis, non-compartmental analysis, and bioequivalence studies component of MonolixSuite.  Additionally, we saw 40% growth in our Quantitative Systems Pharmacology (QSP) business unit with strong demand for model licenses in the disease areas of Psoriatic Arthritis and Crohn’s Disease.

“Services revenue increased 19%, however this segment faced some temporary headwinds this quarter. There were some client-driven data delays that postponed the ramp up of certain projects into our fiscal year second quarter. We were pleased to see that this quarter’s bookings were especially strong in our Clinical Pharmacology & Pharmacometrics (CPP) and Medical Communications (MC) business units.

“Overall, our team achieved solid results despite ongoing funding challenges and cost constraints in the pharma and biotech sectors. The integration of our Adaptive Learning and Insights (ALI) and MC business units is progressing well. For fiscal 2025, we expect momentum to be strongest in the back half of the year, which puts us on track to meet our stated guidance.”

Fiscal 2025 Guidance

 

 

Fiscal 2025 Guidance

Revenue

 

$90M - $93M

Revenue growth

 

28 - 33%

Software mix

 

55 - 60%

Adjusted EBITDA margin

 

31 - 33%

Adjusted diluted EPS

 

$1.07 - $1.20

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 Simulations Plus’ performance for the quarter and certain forward-looking information. The call may be accessed by registering here or by calling 1-877-451-6152 (domestic) or 1-201-389-0879 (international) or by clicking on this Call me™ link to request a return call. The webcast can be accessed on the investor relations page of the Simulations Plus website https://www.simulations-plus.com/investorscorporate-profile/corporate-profile/ where it will also be available for replay approximately one hour following the call.

Non-GAAP Financial Measures

This press release contains “non-GAAP financial measures,” which are measures that either exclude or include amounts that are not excluded or included in the most directly comparable measures calculated and presented in accordance with U.S. generally accepted accounting principles (“GAAP”).

A further explanation and reconciliation of these non-GAAP financial measures is included below and in the financial tables in this release.

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 and Adjusted Diluted EPS represent measures that we believe are 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 these measures are useful in evaluating our core operating results. However, Adjusted EBITDA and Adjusted Diluted EPS are not measures of financial performance under accounting principles generally accepted in the United States of America and should not be considered an alternative to net income, operating income, or diluted EPS as indicators of our operating performance or to net cash provided by operating activities as a measure of our liquidity. We believe the Company’s Adjusted EBITDA and Adjusted Diluted EPS measures provide information that is directly comparable to that provided by other peer companies in our industry, but other companies may calculate non-GAAP financial results differently, particularly related to nonrecurring, unusual items.

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 represents net income excluding the effect of interest expense (income), provision (benefit) for income taxes, amortization expense, intangible asset amortization, equity-based compensation expense, loss (gain) on currency exchange, goodwill impairment, change in fair value of contingent consideration, reorganization expense, acquisition and integration expense and other items not indicative of our ongoing operating performance.

Adjusted Net Income and Adjusted Diluted EPS

Adjusted net income and adjusted diluted earnings per share exclude the effect of amortization expense, equity-based compensation expense, loss (gain) on currency exchange, goodwill impairment, change in fair value of contingent consideration, reorganization expense, acquisition and integration expense and other items not indicative of our ongoing operating performance as well as the income tax provision adjustment for such charges.

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.

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 integrate our ALI and MC business units, our ability to meet our stated guidance, 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

 

 

 

Three Months Ended

(in thousands, except per common share amounts)

 

November 30, 2024

 

November 30, 2023

Revenues

 

 

 

 

Software

 

$

10,715

 

 

$

7,589

 

Services

 

 

8,209

 

 

 

6,911

 

Total revenues

 

 

18,924

 

 

 

14,500

 

Cost of revenues

 

 

 

 

Software

 

 

2,638

 

 

 

991

 

Services

 

 

6,068

 

 

 

3,661

 

Total cost of revenues

 

 

8,706

 

 

 

4,652

 

Gross profit

 

 

10,218

 

 

 

9,848

 

Operating expenses

 

 

 

 

Research and development

 

 

1,848

 

 

 

1,217

 

Sales and marketing

 

 

2,851

 

 

 

1,989

 

General and administrative

 

 

5,393

 

 

 

5,682

 

Total operating expenses

 

 

10,092

 

 

 

8,888

 

Income from operations

 

 

126

 

 

 

960

 

Other income

 

 

144

 

 

 

1,446

 

 

 

 

 

 

Income before income taxes

 

 

270

 

 

 

2,406

 

Provision for income taxes

 

 

(64

)

 

 

(461

)

Net income

 

$

206

 

 

$

1,945

 

 

 

 

 

 

Earnings per share

 

 

 

 

Basic

 

$

0.01

 

 

$

0.10

 

Diluted

 

$

0.01

 

 

$

0.10

 

 

 

 

 

 

Weighted-average common shares outstanding

 

 

 

 

Basic

 

 

20,068

 

 

 

19,947

 

Diluted

 

 

20,266

 

 

 

20,279

 

 

 

 

 

 

Other comprehensive (loss) income, net of tax

 

 

 

 

Foreign currency translation adjustments

 

 

(42

)

 

 

(54

)

Unrealized gains on available-for-sale securities

 

$

4

 

 

$

—

 

Comprehensive income

 

$

168

 

 

$

1,891

 

SIMULATIONS PLUS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS

 

(in thousands, except share and per share amounts)

 

November 30, 2024

 

August 31, 2024

ASSETS

 

 

 

 

Current assets

 

 

 

 

Cash and cash equivalents

 

$

6,187

 

 

$

10,311

 

Accounts receivable, net of allowance for credit losses of $145 and $149

 

 

12,804

 

 

 

9,136

 

Prepaid income taxes

 

 

2,327

 

 

 

2,197

 

Prepaid expenses and other current assets

 

 

7,098

 

 

 

7,753

 

Short-term investments

 

 

11,983

 

 

 

9,944

 

Total current assets

 

 

40,399

 

 

 

39,341

 

Long-term assets

 

 

 

 

Capitalized computer software development costs, net of accumulated amortization of $19,500 and $18,727

 

 

12,441

 

 

 

12,499

 

Property and equipment, net

 

 

819

 

 

 

812

 

Operating lease right-of-use assets

 

 

1,342

 

 

 

1,027

 

Intellectual property, net of accumulated amortization of $6,575 and $5,490

 

 

22,045

 

 

 

23,130

 

Other intangible assets, net of accumulated amortization of $3,497 and $3,177

 

 

23,076

 

 

 

23,210

 

Goodwill

 

 

96,305

 

 

 

96,078

 

Other assets

 

 

489

 

 

 

542

 

Total assets

 

$

196,916

 

 

$

196,639

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

Current liabilities

 

 

 

 

Accounts payable

 

$

1,120

 

 

$

602

 

Accrued compensation

 

 

1,882

 

 

 

4,513

 

Accrued expenses

 

 

580

 

 

 

2,043

 

Contracts payable - current portion

 

 

2,440

 

 

 

2,440

 

Operating lease liability - current portion

 

 

485

 

 

 

475

 

Deferred revenue

 

 

3,231

 

 

 

1,996

 

Total current liabilities

 

 

9,738

 

 

 

12,069

 

Long-term liabilities

 

 

 

 

Deferred income taxes, net

 

 

1,648

 

 

 

1,608

 

Operating lease liability - net of current portion

 

 

835

 

 

 

531

 

Total liabilities

 

 

12,221

 

 

 

14,208

 

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; 20,085,014 and 20,051,134 shares issued and outstanding

 

 

154,424

 

 

 

152,328

 

Retained earnings

 

 

30,560

 

 

 

30,354

 

Accumulated other comprehensive loss

 

 

(289

)

 

 

(251

)

Total shareholders' equity

 

 

184,695

 

 

 

182,431

 

Total liabilities and shareholders' equity

 

$

196,916

 

 

$

196,639

 

SIMULATIONS PLUS, INC. Trended Financial Information (1) (Unaudited)

(in millions except earnings per share amounts)

 

 

 

FY23

 

FY24

 

FY25

 

FY23

 

FY24

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Full Year

 

Full Year

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software

 

$

6.074

 

 

$

10.487

 

 

$

10.632

 

 

$

9.324

 

 

$

7.589

 

 

$

11.614

 

 

$

11.908

 

 

$

9.913

 

 

$

10.715

 

 

$

36.517

 

 

$

41.024

 

Services

 

$

5.890

 

 

$

5.263

 

 

$

5.602

 

 

$

6.305

 

 

$

6.911

 

 

$

6.691

 

 

$

6.636

 

 

$

8.751

 

 

$

8.209

 

 

$

23.060

 

 

$

28.989

 

Total

 

$

11.964

 

 

$

15.750

 

 

$

16.234

 

 

$

15.629

 

 

$

14.500

 

 

$

18.305

 

 

$

18.544

 

 

$

18.664

 

 

$

18.924

 

 

$

59.577

 

 

$

70.013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Margin

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software

 

 

85.4

%

 

 

92.0

%

 

 

91.5

%

 

 

89.4

%

 

 

86.9

%

 

 

88.4

%

 

 

88.2

%

 

 

72.4

%

 

 

75.4

%

 

 

90.1

%

 

 

84.2

%

Services

 

 

69.7

%

 

 

66.2

%

 

 

63.4

%

 

 

62.1

%

 

 

47.0

%

 

 

44.2

%

 

 

41.4

%

 

 

-4.0

%

 

 

26.1

%

 

 

65.3

%

 

 

29.7

%

Total

 

 

77.7

%

 

 

83.4

%

 

 

81.8

%

 

 

78.4

%

 

 

67.9

%

 

 

72.2

%

 

 

71.5

%

 

 

36.6

%

 

 

54.0

%

 

 

80.5

%

 

 

61.6

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

$

0.878

 

 

$

4.034

 

 

$

4.097

 

 

$

(0.284

)

 

$

0.960

 

 

$

4.442

 

 

$

1.880

 

 

$

(1.151

)

 

$

0.126

 

 

$

8.725

 

 

$

6.131

 

Operating Margin

 

 

7.3

%

 

 

25.6

%

 

 

25.2

%

 

 

-1.8

%

 

 

6.6

%

 

 

24.3

%

 

 

10.1

%

 

 

-6.2

%

 

 

0.7

%

 

 

14.6

%

 

 

8.8

%

Net Income

 

$

1.245

 

 

$

4.174

 

 

$

4.008

 

 

$

0.534

 

 

$

1.945

 

 

$

4.029

 

 

$

3.137

 

 

$

0.843

 

 

$

0.206

 

 

$

9.961

 

 

$

9.954

 

Diluted Earnings Per Share

 

$

0.06

 

 

$

0.20

 

 

$

0.20

 

 

$

0.03

 

 

$

0.10

 

 

$

0.20

 

 

$

0.15

 

 

$

0.04

 

 

$

0.01

 

 

$

0.49

 

 

$

0.49

 

Adjusted EBITDA

 

$

3.032

 

 

$

6.179

 

 

$

6.494

 

 

$

4.917

 

 

$

3.388

 

 

$

7.135

 

 

$

5.586

 

 

$

4.148

 

 

$

4.493

 

 

$

20.622

 

 

$

20.257

 

Adjusted Diluted EPS

 

$

0.14

 

 

$

0.29

 

 

$

0.30

 

 

$

0.29

 

 

$

0.18

 

 

$

0.32

 

 

$

0.27

 

 

$

0.18

 

 

$

0.17

 

 

$

0.67

 

 

$

0.53

 

Cash Flow from Operations

 

$

4.700

 

 

$

5.548

 

 

$

8.548

 

 

$

3.060

 

 

$

0.162

 

 

$

5.810

 

 

$

5.700

 

 

$

1.600

 

 

$

(1.274

)

 

$

21.856

 

 

$

13.320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue Breakdown by Region

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas

 

$

8.500

 

 

$

10.589

 

 

$

10.774

 

 

$

10.954

 

 

$

10.891

 

 

$

12.461

 

 

$

12.428

 

 

$

14.700

 

 

$

14.469

 

 

$

40.817

 

 

$

50.473

 

EMEA

 

 

2.130

 

 

 

3.618

 

 

 

3.358

 

 

 

2.607

 

 

 

2.302

 

 

 

4.665

 

 

 

4.513

 

 

 

2.600

 

 

 

2.720

 

 

 

11.713

 

 

 

14.072

 

Asia Pacific

 

 

1.334

 

 

 

1.543

 

 

 

2.102

 

 

 

2.068

 

 

 

1.307

 

 

 

1.179

 

 

 

1.603

 

 

 

1.400

 

 

 

1.735

 

 

 

7.047

 

 

 

5.468

 

Total

 

$

11.964

 

 

$

15.750

 

 

$

16.234

 

 

$

15.629

 

 

$

14.500

 

 

$

18.305

 

 

$

18.544

 

 

$

18.700

 

 

$

18.924

 

 

$

59.577

 

 

$

70.013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software Performance Metrics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avg. Revenue per Customer (in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

68.0

 

 

$

110.0

 

 

$

97.0

 

 

 

88.0

 

 

$

79.0

 

 

$

113.0

 

 

$

97.0

 

 

$

89.0

 

 

$

94.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Services Performance Metrics

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Backlog (in millions)

 

$

15.826

 

 

$

15.369

 

 

$

15.667

 

 

$

19.485

 

 

$

18.910

 

 

$

18.041

 

 

$

19.602

 

 

$

14.091

 

 

$

17.254

 

 

 

 

 

(1)

 

Numbers may not add due to rounding

SIMULATIONS PLUS, INC. Reconciliation of Adjusted EBITDA to Net Income (1) (Unaudited)

(in millions)

 

 

 

FY23

 

FY 2024

FY25

 

FY23

 

FY24

 

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

Q1

 

Full Year

 

Full Year

Net Income

 

$

1.245

 

 

$

4.174

 

 

$

4.008

 

 

$

0.534

 

 

$

1.945

 

 

$

4.029

 

 

$

3.137

 

 

$

0.843

 

$

0.206

 

 

$

9.961

 

 

$

9.954

 

Excluding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest income and expense, net

 

 

(0.771

)

 

 

(0.985

)

 

 

(1.120

)

 

 

(1.255

)

 

 

(1.292

)

 

 

(1.348

)

 

 

(1.522

)

 

 

(0.213

)

 

(0.159

)

 

 

(4.131

)

 

 

(4.375

)

Provision for income taxes

 

 

0.373

 

 

 

0.894

 

 

 

0.932

 

 

 

(0.465

)

 

 

0.461

 

 

 

1.223

 

 

 

0.753

 

 

 

0.020

 

 

0.064

 

 

 

1.734

 

 

 

2.457

 

Depreciation and amortization

 

 

0.923

 

 

 

0.935

 

 

 

0.945

 

 

 

1.052

 

 

 

1.091

 

 

 

1.105

 

 

 

1.263

 

 

 

2.206

 

 

2.265

 

 

 

3.855

 

 

 

5.665

 

Stock-based compensation

 

 

0.886

 

 

 

1.160

 

 

 

1.052

 

 

 

1.130

 

 

 

1.303

 

 

 

1.585

 

 

 

1.665

 

 

 

1.387

 

 

1.589

 

 

 

4.228

 

 

 

5.940

 

(Gain) loss on currency exchange

 

 

0.031

 

 

 

(0.049

)

 

 

0.277

 

 

 

0.216

 

 

 

(0.044

)

 

 

0.098

 

 

 

(0.009

)

 

 

(0.431

)

 

0.015

 

 

 

0.475

 

 

 

(0.386

)

Impairment of other intangibles

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.500

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

—

 

 

 

0.500

 

 

 

—

 

Change in value of contingent consideration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.680

 

 

 

(0.110

)

 

 

0.440

 

 

 

(0.599

)

 

 

(1.370

)

 

—

 

 

 

0.680

 

 

 

(1.639

)

Mergers & Acquisitions expense

 

 

0.345

 

 

 

0.050

 

 

 

0.400

 

 

 

2.519

 

 

 

0.034

 

 

 

0.003

 

 

 

0.898

 

 

 

1.706

 

 

0.255

 

 

 

3.314

 

 

 

2.641

 

Adjusted EBITDA

 

$

3.032

 

 

$

6.179

 

 

$

6.494

 

 

$

4.917

 

 

$

3.388

 

 

$

7.135

 

 

$

5.586

 

 

$

4.148

 

$

4.493

 

 

$

20.622

 

 

$

20.257

 

(1)

 

Numbers may not add due to rounding

SIMULATIONS PLUS, INC. Reconciliation of Adjusted Diluted EPS to Diluted EPS (1) (Unaudited)

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

 

 

 

FY23

 

FY 2024

 

FY25

 

FY23

 

FY24

 

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Q2

 

Q3

 

Q4

 

Q1

 

Full Year

 

Full Year

Net Income (GAAP)

 

$

1.245

 

 

$

4.174

 

 

$

4.008

 

 

$

0.534

 

 

$

1.945

 

 

$

4.029

 

 

$

3.137

 

 

$

0.843

 

 

$

0.206

 

 

$

9.961

 

 

$

9.954

 

Excluding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization

 

 

0.834

 

 

 

0.838

 

 

 

0.847

 

 

 

0.950

 

 

 

0.991

 

 

 

0.991

 

 

 

1.122

 

 

 

2.059

 

 

 

2.130

 

 

 

3.469

 

 

 

5.163

 

Stock-based compensation

 

 

0.886

 

 

 

1.160

 

 

 

1.052

 

 

 

1.130

 

 

 

1.303

 

 

 

1.585

 

 

 

1.665

 

 

 

1.387

 

 

 

1.589

 

 

 

4.228

 

 

 

5.940

 

(Gain) loss on currency exchange

 

 

0.031

 

 

 

(0.049

)

 

 

0.277

 

 

 

0.216

 

 

 

(0.044

)

 

 

0.098

 

 

 

(0.009

)

 

 

(0.431

)

 

 

0.015

 

 

 

0.475

 

 

 

(0.386

)

Mergers & Acquisitions expense

 

 

0.345

 

 

 

0.050

 

 

 

0.400

 

 

 

0.926

 

 

 

0.034

 

 

 

0.003

 

 

 

0.898

 

 

 

1.706

 

 

 

0.255

 

 

 

1.721

 

 

 

2.641

 

Immunetrics transaction costs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.586

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1.586

 

 

 

—

 

Change in value of contingent consideration

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.680

 

 

 

(0.110

)

 

 

0.440

 

 

 

(0.599

)

 

 

(1.370

)

 

 

—

 

 

 

0.680

 

 

 

(1.639

)

Reorganization expense

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.258

 

 

 

—

 

 

 

—

 

Cognigen trade name write-off

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.500

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.500

 

 

 

—

 

Tax effect on above adjustments

 

 

(0.483

)

 

 

(0.293

)

 

 

(0.486

)

 

 

(0.615

)

 

 

(0.417

)

 

 

(0.746

)

 

 

(0.603

)

 

 

(0.554

)

 

 

(1.007

)

 

 

(1.877

)

 

 

(2.320

)

Adjusted Net income (Non-GAAP)

 

$

2.858

 

 

$

5.880

 

 

$

6.098

 

 

$

5.907

 

 

$

3.702

 

 

$

6.400

 

 

$

5.611

 

 

$

3.640

 

 

$

3.446

 

 

$

20.743

 

 

$

19.353

 

Weighted-avg. common shares outstanding:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted

 

 

20.825

 

 

 

20.529

 

 

 

20.355

 

 

 

20.369

 

 

 

20.279

 

 

 

20.315

 

 

 

20.433

 

 

 

20.338

 

 

 

20.266

 

 

 

20.465

 

 

 

20.301

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted EPS (GAAP)

 

$

0.06

 

 

$

0.20

 

 

$

0.20

 

 

$

0.03

 

 

$

0.10

 

 

$

0.20

 

 

$

0.15

 

 

$

0.04

 

 

$

0.01

 

 

$

0.49

 

 

$

0.49

 

Adjusted Diluted EPS (Non-GAAP)

 

$

0.14

 

 

$

0.29

 

 

$

0.30

 

 

$

0.29

 

 

$

0.18

 

 

$

0.32

 

 

$

0.27

 

 

$

0.18

 

 

$

0.17

 

 

$

1.01

 

 

$

0.95

 

(1)

 

Numbers may not add due to rounding

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250107123533/en/

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