Simulations Plus(US:SLP)2024-07-02 22:10Financial Performance - Revenue for 3Q24 reached $18.5 million, a 14% increase compared to $16.2 million in 3Q23[31] - Year-to-date (YTD) revenue for FY24 was $51.3 million, representing a 17% growth from $43.9 million in the same period of FY23[33] - Gross profit for 3Q24 was $13.3 million, resulting in a gross margin of 71%, which is lower than the 82% gross margin in 3Q23[31] - Net income for 3Q24 was $3.1 million ($0.15 diluted EPS), compared to $4.0 million ($0.20 diluted EPS) in 3Q23[31] - Adjusted EBITDA for 3Q24 was $5.7 million, representing 31% of revenue, compared to $6.5 million, or 40% of revenue, in 3Q23[31] Revenue Breakdown - Software revenue in 3Q24 was $11.9 million, an 12% increase from $10.6 million in 3Q23[42] - Services revenue in 3Q24 was $6.6 million, an 18% increase from $5.6 million in 3Q23[42] - The revenue mix in 3Q24 was 64% software and 36% services[42] - Total backlog was $19.6 million [51] Software Performance - Cheminformatics (ADMET Predictor) software revenue grew by 15% in 3Q24 [55] - Physiologically Based Pharmacokinetics (GastroPlus) software revenue grew by 7% in 3Q24 [56] - Clinical Pharmacology & Pharmacometrics (MonolixSuite) software revenue grew by 13% in 3Q24 [56]