Simulations Plus, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Simulations Plus, Inc. filed its 10-Q for the quarter ending November 30, 2023, detailing financial performance and balance sheet information.</b>

AI Summary

Simulations Plus, Inc. (SLP) filed a Quarterly Report (10-Q) with the SEC on January 5, 2024. Simulations Plus, Inc. reported financial results for the period ending November 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on August 31st. The filing details financial data including software and services revenue. Key balance sheet items like intellectual property and retained earnings are presented.

Why It Matters

For investors and stakeholders tracking Simulations Plus, Inc., this filing contains several important signals. This 10-Q provides investors with the latest quarterly financial snapshot, crucial for understanding the company's ongoing performance and financial health. The detailed segment reporting for software and services revenue allows for analysis of growth drivers and business mix.

Risk Assessment

Risk Level: low — Simulations Plus, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) with no immediate red flags, indicating routine financial disclosure.

Analyst Insight

Monitor future filings for trends in software and services revenue growth and profitability metrics.

Revenue Breakdown

Key Numbers

• 2023-11-30 — Period End Date (Conformed Period of Report)
• 2024-01-05 — Filing Date (Filed as of Date)
• 0831 — Fiscal Year End (Fiscal Year End)

Key Players & Entities

• Simulations Plus, Inc. (company) — Filer
• 2023-11-30 (date) — Period of Report
• 2024-01-05 (date) — Filed as of date
• LANCASTER (location) — Business Address City
• CA (location) — Business Address State
• 93534-7059 (postal_code) — Business Address Zip

Forward-Looking Statements

• Simulations Plus will face continued pressure on software revenue in the next quarter. (Simulations Plus, Inc.) — medium confidence, target: 2024-02-29

FAQ

Industry Context

Simulations Plus operates in the software and services sector, providing solutions likely for scientific and business simulations.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Review the full 10-Q for detailed financial statements and management's discussion and analysis.
2. Analyze revenue breakdown by software and services segments for growth trends.
3. Compare key financial metrics to prior periods to identify performance changes.

Key Dates

• 2023-11-30: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-01-05: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing snippet provided, so a comparison to a previous filing is not possible without more data.

Key Financial Figures

• $0.001 — of Each Class Common Stock, par value $0.001 per share Trading Symbol SLP Name of

Filing Documents

• simu-20231130.htm (10-Q) — 1021KB
• slp-20231130x10qxex311.htm (EX-31.1) — 10KB
• slp-20231130x10qxex312.htm (EX-31.2) — 10KB
• slp-20231130x10qxex321.htm (EX-32.1) — 7KB
• simu-20231130_g1.gif (GRAPHIC) — 12KB
• 0001023459-24-000011.txt (&nbsp;) — 6845KB
• simu-20231130.xsd (EX-101.SCH) — 39KB
• simu-20231130_cal.xml (EX-101.CAL) — 51KB
• simu-20231130_def.xml (EX-101.DEF) — 233KB
• simu-20231130_lab.xml (EX-101.LAB) — 633KB
• simu-20231130_pre.xml (EX-101.PRE) — 413KB
• simu-20231130_htm.xml (XML) — 1153KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets at November 30, 2023 and August 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the three months ended November 30, 2023 and 2022 4 Condensed Consolidated Statements of Shareholders' Equity for the three months ended November 30, 2023 and 2022 5 Condensed Consolidated Statements of Cash Flows for the three months ended November 30, 2023 and 2022 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements Table of Contents SIMULATIONS PLUS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Audited) (in thousands, except share and per share amounts) November 30, 2023 August 31, 2023 ASSETS Current assets Cash and cash equivalents $ 39,789 $ 57,523 Accounts receivable, net of allowance for doubtful accounts of $ 37 and $ 46 10,346 10,201 Prepaid income taxes 37 804 Prepaid expenses and other current assets 5,414 3,904 Short-term investments 74,101 57,940 Total current assets 129,687 130,372 Long-term assets Capitalized computer software development costs, net of accumulated amortization of $ 17,580 and $ 17,199 11,896 11,335 Property and equipment, net 487 671 Operating lease right-of-use assets 1,118 1,247 Intellectual property, net of accumulated amortization of $ 9,709 and $ 9,301 8,281 8,689 Other intangible assets, net of accumulated amortization of $ 2,351 and $ 2,107 12,954 12,825 Goodwill 19,099 19,099 Deferred tax assets 1,826 1,438 Other assets 430 425 Total assets $ 185,778 $ 186,101 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 317 $ 144 Accrued compensation 2,170 4,392 Accrued expenses 731 659 Contracts payable 2,290 3,250 Operating lease liability - current portion 420 442 Deferred revenue 2,660 3,100 Total current liabilities 8,588 11,987 Long-term liabilities Operating lease liability 669 755 Contracts payable – net of current portion 4,180 3,330 Total liabilities 13,437 16,072 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; 19,965,678 and 19,937,961 shares issued and outstanding 146,591 144,974 Retained earnings 25,945 25,196 Accumulated other comprehensive loss ( 195 ) ( 141 ) Total shareholders' equity 17

View Full Filing

View this 10-Q filing on SEC EDGAR