Simulations Plus, Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Simulations Plus, Inc. filed its quarterly 10-Q report for the period ending February 29, 2024.</b>

AI Summary

Simulations Plus, Inc. (SLP) filed a Quarterly Report (10-Q) with the SEC on April 5, 2024. Simulations Plus, Inc. reported financial results for the period ending February 29, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on August 31st. The filing covers the second quarter of fiscal year 2024. The company is categorized under SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN.

Why It Matters

For investors and stakeholders tracking Simulations Plus, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and position during the most recent quarter. Understanding the details within this 10-Q is crucial for assessing the company's ongoing operational health and future prospects.

Risk Assessment

Risk Level: low — Simulations Plus, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not appear to contain any immediately alarming information or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand revenue trends, profitability, and any forward-looking statements.

Key Numbers

• 2024-02-29 — Period End Date (Fiscal period end)
• 2024-04-05 — Filing Date (Date the report was filed)
• 0831 — Fiscal Year End (Company's fiscal year end month and day)
• 2024 — Fiscal Year (Current fiscal year)
• Q2 — Fiscal Quarter (Current fiscal quarter)

Key Players & Entities

• Simulations Plus, Inc. (company) — Filer name
• 2024-02-29 (date) — Period of report
• 2024-04-05 (date) — Filed as of date
• 7373 (industry_code) — Standard Industrial Classification
• 42505 10TH STREET WEST (address) — Business address
• LANCASTER (location) — Business address city
• CA (location) — Business address state
• 93534-7059 (zip_code) — Business address zip

FAQ

Industry Context

Simulations Plus operates in the computer integrated systems design industry, providing software and services for pharmaceutical and biotechnology research.

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. Analyze the revenue breakdown by software and services for the reported periods.
2. Examine the balance sheet for changes in assets, liabilities, and equity compared to prior periods.
3. Review any disclosures related to intellectual property or intangible assets.

Key Dates

• 2024-02-29: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-05: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing reviewed for the fiscal year 2024, following the 10-K annual report.

Key Financial Figures

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

Filing Documents

• simu-20240229.htm (10-Q) — 1262KB
• slp-20240229x10qxex311.htm (EX-31.1) — 10KB
• slp-20240229x10qxex312.htm (EX-31.2) — 10KB
• slp-20240229x10qxex321.htm (EX-32.1) — 7KB
• simu-20240229_g1.gif (GRAPHIC) — 12KB
• 0001023459-24-000048.txt (&nbsp;) — 7913KB
• simu-20240229.xsd (EX-101.SCH) — 43KB
• simu-20240229_cal.xml (EX-101.CAL) — 56KB
• simu-20240229_def.xml (EX-101.DEF) — 265KB
• simu-20240229_lab.xml (EX-101.LAB) — 618KB
• simu-20240229_pre.xml (EX-101.PRE) — 445KB
• simu-20240229_htm.xml (XML) — 1470KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets at February 29, 2024 and August 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the three and six months ended February 29, 2024 and February 28, 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the three and six months ended February 29, 2024 and February 28, 2023 5 Condensed Consolidated Statements of Cash Flows for the six months ended February 29, 2024 and February 28, 2023 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 27 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 38 Item 1A.

Risk Factors

Risk Factors 38 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 39 Item 3. Defaults upon Senior Securities 39 Item 4. Mine Safety Disclosures 39 Item 5. Other Information 40 Item 6. Exhibits 41

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) February 29, 2024 August 31, 2023 ASSETS Current assets Cash and cash equivalents $ 37,031 $ 57,523 Accounts receivable, net of allowance for credit losses of $ 30 and $ 46 13,114 10,201 Prepaid income taxes 1,364 804 Prepaid expenses and other current assets 4,975 3,904 Short-term investments 71,473 57,940 Total current assets 127,957 130,372 Long-term assets Capitalized computer software development costs, net of accumulated amortization of $ 17,962 and $ 17,199 12,333 11,335 Property and equipment, net 843 671 Operating lease right-of-use assets 1,062 1,247 Intellectual property, net of accumulated amortization of $ 10,117 and $ 9,301 7,873 8,689 Other intangible assets, net of accumulated amortization of $ 2,606 and $ 2,107 12,935 12,825 Goodwill 19,099 19,099 Long-term investments 9,024 — Deferred tax assets 2,323 1,438 Other assets 524 425 Total assets $ 193,973 $ 186,101 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 360 $ 144 Accrued compensation 3,184 4,392 Accrued expenses 2,992 659 Contracts payable 5,110 3,250 Operating lease liability - current portion 425 442 Deferred revenue 2,457 3,100 Total current liabilities 14,528 11,987 Long-term liabilities Operating lease liability 607 755 Contracts payable – net of current portion 1,800 3,330 Total liabilities 16,935 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; 19,983,703 and 19,937,961 shares issued and outstanding 148,472 144,974 Retained earnings 28,776 25,196 Accumulated other comprehensive loss ( 210 ) ( 14

View Full Filing

View this 10-Q filing on SEC EDGAR