Simulations Plus Files 2024 Annual Report

Ticker: SLP · Form: 10-K · Filed: Oct 30, 2024 · CIK: 1023459

Sentiment: neutral

Topics: annual-report, sec-filing, financials

Related Tickers: SLP

TL;DR

SLP filed its 2024 10-K, check NASDAQ for stock info.

AI Summary

Simulations Plus, Inc. (SLP) filed its annual report for the fiscal year ended August 31, 2024. The company is registered with the SEC under commission file number 001-32046 and its common stock trades on the NASDAQ under the symbol SLP. Simulations Plus is incorporated in California and its principal executive offices are located in Lancaster, CA.

Why It Matters

This filing provides investors with a comprehensive overview of the company's financial performance and operations for the past fiscal year, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a standard annual report filing and does not contain immediate, specific risk-increasing information.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-K filing?

This Form 10-K is an annual report required by Section 13 or 15(d) of the Securities Exchange Act of 1934, providing a comprehensive overview of the company's business and financial condition for the fiscal year ended August 31, 2024.

On which stock exchange is Simulations Plus, Inc. (SLP) traded?

The common stock of Simulations Plus, Inc. is registered and traded on the NASDAQ Stock Market LLC.

What is the commission file number for Simulations Plus, Inc.?

The commission file number for Simulations Plus, Inc. is 001-32046.

In which state was Simulations Plus, Inc. incorporated?

Simulations Plus, Inc. was incorporated in California.

What is the par value of Simulations Plus, Inc.'s common stock?

The par value of Simulations Plus, Inc.'s common stock is $0.001 per share.

Filing Stats: 4,260 words · 17 min read · ~14 pages · Grade level 19.7 · Accepted 2024-10-30 16:26:15

Key Financial Figures

Filing Documents

– BUSINESS

ITEM 1 – BUSINESS 2

– RISK FACTORS

ITEM 1A – RISK FACTORS 13

– UNRESOLVED STAFF COMMENTS

ITEM 1B – UNRESOLVED STAFF COMMENTS 27

- CYBERSECURITY

ITEM 1C - CYBERSECURITY 27

– PROPERTIES

ITEM 2 – PROPERTIES 28

– LEGAL PROCEEDINGS

ITEM 3 – LEGAL PROCEEDINGS 28

– MINE SAFETY DISCLOSURES

ITEM 4 – MINE SAFETY DISCLOSURES 28 PART II

– MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5 – MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 29

– [RESERVED]

ITEM 6 – [RESERVED] 31

– MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7 – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31

– QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 41

– FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 41

– CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 41

– CONTROLS AND PROCEDURES

ITEM 9A – CONTROLS AND PROCEDURES 42

– OTHER INFORMATION

ITEM 9B – OTHER INFORMATION 43

– DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C – DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 43 PART III

– DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE

ITEM 10 – DIRECTORS, EXECUTIVE OFFICERS, AND CORPORATE GOVERNANCE 44

– EXECUTIVE COMPENSATION

ITEM 11 – EXECUTIVE COMPENSATION 44

– SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12 – SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 44

– CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13 – CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 44

– PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14 – PRINCIPAL ACCOUNTING FEES AND SERVICES 44 PART IV

– EXHIBITS, FINANCIAL STATEMENT SCHEDULES

ITEM 15 – EXHIBITS, FINANCIAL STATEMENT SCHEDULES 45

SIGNATURES

SIGNATURES 47 i Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Report") includes estimates, projections, statements relating to our business plans, objectives, and expected operating results that are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements may appear throughout this Report, including, without limitation, in the following sections: "Business" (Part I, Item 1 of this Report), "Risk Factors" (Part I, Item 1A of this Report), "Cybersecurity" (Part I, Item 1C of this Report), "Management's Discussion and Analysis of Financial Condition and Results of Operations" (Part II, Item 7 of this Report), and "Quantitative and Qualitative Disclosures About Market Risk" (Part II, Item 7A of this Report). These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are based on current expectations and assumptions, as well as current plans, expectations, estimates, forecasts, and projections about our business and the industry in which we operate, that are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. We describe certain risks and uncertainties that could cause actual results and events to differ materially in "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Quantitat

–BUSINESS

ITEM 1 –BUSINESS As used in this Report, each of the terms "we," "us," "our," the "Company," and "Simulations Plus" refers to Simulations Plus, Inc. and its wholly owned subsidiaries (both current and previous, as applicable). Simulations Plus, Inc. was incorporated in California on July 17, 1996. We are a global leader and 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. With the June 2024 acquisition of Pro-ficiency Holdings, Inc. and its subsidiaries (collectively, "Pro-ficiency"), the Company extended its reach across the drug development value chain from the initial protocol stage through all phases of clinical research and development ("R&D") to product commercialization. Simulations Plus now has a one-of-a-kind platform to serve its clients at every step in the drug development process. This optimizes efficiency, costs and time-to-market for our clients and enhances our competitive position. Our clients face many challenges. Developing new therapies is time-consuming and expensive, requiring an average of 10-15 years and an average cost of $6.16 billion to develop a single drug. Drug sponsors must prioritize not only efficacy of the drug, but also issues like drug-drug interactions, inclusion of diverse populations, regulatory approvals, reduction of animal testing, safety and compliance during clinical trials, and commercial success. Our model-informed drug development ("MIDD") software and services allow clients to use modeling and simulation to accelerate the drug development timeline, reduce the costs of R&D, comply with regulatory guidance and best practices, and increase confidence in the safety and efficacy of their drugs. Our adaptive learning solutions support the success of clinical trials by increasing the diversity and retention of participants and driving competency and compl

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