Simulations Plus Q1 revenue down 4% to $12M; EPS falls to $0.06; announces $50M buyback

Simulations Plus, Inc.

2023-Q1 EPS reported $0.06 revenue$11,964,000

Q1 revenue $12.0M (-4% YoY); diluted EPS $0.06 vs $0.15; net income $1.2M.
Software revenue $6.1M (-17%); services revenue $5.9M (+17%); adjusted EBITDA $3.0M (25% margin).
Board authorized $50M share repurchase program including $20M accelerated repurchase expected in Q2.
Quarterly dividend declared $0.06/share, payable Feb 6, 2023 to holders of record Jan 30.
FY23 guidance reaffirmed: revenue $59.3M-$62.0M (10-15% growth); EPS $0.63-$0.67.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Simulations Plus, Inc. reported first quarter of fiscal 2023, ended November 30, 2022 results: revenue $12.0 million, net income $1.2 million, EPS $0.06. Guidance reaffirmed.

Period: first quarter of fiscal 2023, ended November 30, 2022
Revenue: $12.0 million
Net income: $1.2 million
EPS: $0.06
Guidance: reaffirmed
Result: reported results

Exact text from the filing

First Quarter Financial Highlights (Fiscal 2023 vs. Fiscal 2022): • Total revenue decreased 4% to $12.0 million; • Software revenue decreased 17% to $6.1 million, representing 51% of total revenue; • Services revenue increased 17% to $5.9 million, representing 49% of total revenue; • Gross profit decreased 4% to $9.3 million; gross margin was 78%; • Net income of $1.2 million and diluted EPS of $0.06, compared to net income of $3.0 million and diluted EPS of $0.15; • Adjusted EBITDA of $3.0 million, representing 25% of total revenue.

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Source: SEC EDGAR

accession 0001023459-23-000009

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