Simulations Plus Q3 2024 10-Q Filed
Ticker: SLP · Form: 10-Q · Filed: Jul 8, 2024 · CIK: 1023459
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: SIMU
TL;DR
**SIMULATIONS PLUS (SIMU) FILED Q3 10-Q - FINANCIALS OUT**
AI Summary
Simulations Plus, Inc. filed a 10-Q for the period ending May 31, 2024. The company's fiscal year ends on August 31st. Key financial data points such as revenue from contracts, intellectual property, and other intangible assets are reported. The filing covers the third quarter of their fiscal year.
Why It Matters
This filing provides investors with an update on the financial health and operational performance of Simulations Plus, Inc. during the third quarter of their fiscal year.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.
Key Numbers
- 2024-05-31 — Reporting Period End Date (Indicates the end of the period covered by the 10-Q.)
- 2024-07-08 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
- 0831 — Fiscal Year End (Specifies the end date of the company's annual fiscal cycle.)
Key Players & Entities
- Simulations Plus, Inc. (company) — Filer of the 10-Q
- 20240531 (date) — End of reporting period
- 20240708 (date) — Filing date
- 0831 (date) — Fiscal year end
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ending May 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on July 8, 2024.
What is Simulations Plus, Inc.'s fiscal year end?
Simulations Plus, Inc.'s fiscal year ends on August 31st.
What type of intangible assets are specifically mentioned in the filing data?
The filing data mentions intellectual property and other intangible assets.
What are the dates for the License and Maintenance revenue reporting periods?
License and Maintenance revenue is reported for the periods March 1, 2024 to May 31, 2024, March 1, 2023 to May 31, 2023, September 1, 2023 to May 31, 2024, and September 1, 2022 to May 31, 2023.
Filing Stats: 4,538 words · 18 min read · ~15 pages · Grade level 15.3 · Accepted 2024-07-08 08:56:32
Key Financial Figures
- $0.001 — of Each Class Common Stock, par value $0.001 per share Trading Symbol SLP Name of
Filing Documents
- simu-20240531.htm (10-Q) — 1306KB
- slp-20240531x10qxex311.htm (EX-31.1) — 10KB
- slp-20240531x10qxex312.htm (EX-31.2) — 10KB
- slp-20240531x10qxex321.htm (EX-32.1) — 7KB
- simu-20240531_g1.gif (GRAPHIC) — 12KB
- 0001023459-24-000092.txt ( ) — 8074KB
- simu-20240531.xsd (EX-101.SCH) — 42KB
- simu-20240531_cal.xml (EX-101.CAL) — 60KB
- simu-20240531_def.xml (EX-101.DEF) — 281KB
- simu-20240531_lab.xml (EX-101.LAB) — 651KB
- simu-20240531_pre.xml (EX-101.PRE) — 463KB
- simu-20240531_htm.xml (XML) — 1426KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Page Item 1. Condensed Consolidated Financial Statements Condensed Consolidated Balance Sheets at May 31, 2024 and August 31, 2023 3 Condensed Consolidated Statements of Operations and Comprehensive Income for the three and nine months ended May 31, 2024 and 2023 4 Condensed Consolidated Statements of Shareholders' Equity for the three and nine months ended May 31, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the nine months ended May 31, 2024 and 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 39 Item 4.
Controls and Procedures
Controls and Procedures 39
OTHER INFORMATION
PART II. OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 39 Item 1A.
Risk Factors
Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 42 Item 6. Exhibits 43
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) May 31, 2024 August 31, 2023 ASSETS Current assets Cash and cash equivalents $ 109,092 $ 57,523 Accounts receivable, net of allowance for credit losses of $ 149 and $ 46 10,144 10,201 Prepaid income taxes 1,202 804 Prepaid expenses and other current assets 5,303 3,904 Short-term investments 9,875 57,940 Total current assets 135,616 130,372 Long-term assets Capitalized computer software development costs, net of accumulated amortization of $ 18,502 and $ 17,199 12,614 11,335 Property and equipment, net 882 671 Operating lease right-of-use assets 948 1,247 Intellectual property, net of accumulated amortization of $ 10,498 and $ 9,301 7,492 8,689 Other intangible assets, net of accumulated amortization of $ 2,862 and $ 2,107 12,712 12,825 Goodwill 19,099 19,099 Deferred tax assets 2,804 1,438 Other assets 524 425 Total assets $ 192,691 $ 186,101 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable $ 658 $ 144 Accrued compensation 4,111 4,392 Accrued expenses 894 659 Contracts payable 3,810 3,250 Operating lease liability - current portion 410 442 Deferred revenue 1,437 3,100 Total current liabilities 11,320 11,987 Long-term liabilities Operating lease liability 512 755 Contracts payable – net of current portion — 3,330 Total liabilities 11,832 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; 20,007,488 and 19,937,961 shares issued and outstanding 150,451 144,974 Retained earnings 30,713 25,196 Accumulated other comprehensive loss ( 305 ) ( 141 ) Total shareholders' equity 180,859 17