SLP - Earnings call transcript Q4 2021

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Operator

Greetings and welcome to the Simulations Plus' fourth quarter fiscal 2021 financial results conference call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions].

As a reminder, this conference is being recorded. pleasure Brian my IR. from now is to Siegel introduce Hayden It you, Thank Mr. Siegel.

your may presentation. You begin

Brian Siegel

everyone. to today afternoon, Frederick. today's conference CEO, Good presentation. Welcome O'Connor An call. financial fiscal Shawn questions Hosting results opportunity XXXX to the will CFO, call and are ask Plus' our Simulations Will fourth follow quarter

uncertainties. Before historical forward-looking discussed and matters presentation there are like information, statements that events of disappeared assurances would involve Words in place. our to number expected at no the everyone remind anticipate, results or these like I time, actually expect, the beginning, will that but for a that mean that except believe, are be or estimates this can risks that best take

and retain identify close the technical with said, U.S. in contained that I on differ contribute existing annual of and cause significantly acceptance competitive the to staff, highly to, ability general economics that could our Shawn? and of reports and such information to of to could our our software sustainable statements. call Securities ability are turn filed Shawn versions With over our company finance ability results Factors ability and those O'Connor. the future pharmaceutical our our risk not our terms to favorable market. or from industry, advantages, software the growth, continue the to would new include, by a actual Commission. is factors qualified to differences but acquisition customers, and limited and maintain our to So improved Further attract our to like on to our Exchange quarterly

Shawn O'Connor

our fiscal we had the business in end services prior in to continued year in quarter. was and business you Brian. momentum an the than less saw encouraging decline Thank we as We our software saw the

our %X XX%. exceeding XX%, XXXX, our came growth total to fiscal guidance of For revenue in at

exceeding X% guidance XX%, XX%. guidance revenue our X%, our XXXX the service XX%. growth was revenue was decline of And to to of than Software fiscal for XX% better slightly

had software MonolixSuite of partially that by a strength to the the decline prior occurred in at early GastroPlus business ADMET reflecting each in Our renewals and good growing least expected XX% due offset Predictor, quarter, by both quarters.

commercial in revenues increased XX% quarter. XX% which and performance fiscal to grew technology efforts, quarter growth XXXX revenue the XXXX. to focused of new upselling fiscal to this attribute year's GastroPlus and the during last in Software XX% industry-leading fiscal compared XX% contracts rate in and we growth fourth XX our produced strong

articles, in to saw fourth features the new quarter. fourth recognition reflecting GastroPlus During as benefit QX XX% PBPK valuable peer-reviewed release the XX from it that and continued of was added product the revenue functionality. ADMET platform. Predictor growth also journal industry-leading quarter and the our strength

the to leadership in want and GastroPlus market during Predictor the expand both I continued position year. Additionally, ADMET to emphasize their strong the

strong and has XX we example, validation For well DDI received, a of which of been GastroPlus customers and saw all year very new leadership signed, our three upsells $XXX,XXX-plus XX during new module are our position. license the multi-year.

quarter in renewals As due revenue in quarters. the declined fourth anticipated, prior MonolixSuite to early

alternative full continue new competitor. as primary we taking as both commercial the our growth products For from clients as see was share revenue to well year, adoption market displacing XX% and

business. services our to Turning

annually. business this QSP, reminder, be QST are is range quarterly As volatility, projects to $XXX,XXX our typically larger. in a can revenue projects PK/PD significantly the and exhibit service both and can $XXX,XXX nonrecurring. Accordingly,

even accelerated, delayed are by their under canceled priorities on our projects customers are internal or not based these control. or and Sometimes timelines our

quarter of as events build. year customer due than pipeline of of and signs project we half the decreased grew quarter to to second than during challenging third normal cancellations, our revenue a and the delays less continued with saw was it expected, the our fiscal sequentially fourth backlog uncharacteristic While the higher optimism

project return the cancellations of During saw number we customer to delays more QX, and normal levels.

which We backlog highlighted quarter a contributed a a for to clients also our XXX% closing good the of target. by XX% year, the XX% internal had was five increase in new and bookings full increase quarter, for about which

quarter, critical we FDA During new the regulatory support also for for therapy. supported multi-regional a and a submission an provided approval COVID-XX

action and enhancements For drove average leading took operational the we made that yield rates. margin contract value to consultant several year, increased improvements utilization and project

QST strong we inflection We of momentum For an pipeline activity point and this business. members enter reflecting was expected. as the decline, revenue had accelerated renewal down Despite the fiscal this one XXXX. in new consortium QX quarter during we and in that positive business, to one QSP, saw point as signs DILIsym overall

We projects we year have already business that the also late a saw opportunities with finished seeing multiple picking QX. QX backlog significant are during I bookings increase of funded fiscal announced up PBPK and toxicology am year. for for our target two in XX% in And have the projects project status. and proposal FDA stage also strong new encouraged QSP our achieved finally,

Looking to also pharma software part we and be needs are their of to marketplace. in out seeking continue fiscal business. modeling objectives. service strong our them robust to meet XXXX, modeling biotech are Outsourcing grow efforts and remains the Internal clients' they platforms here and to with their resources a simulation our adoption continues and support to and our to simulation achieve

acquisitions a rate sequential that and carries on activity, rebuilt in the we positive of to in momentum pipeline result continue from service our both contributor the of what product in quarterly fiscal should volatile growth fiscal efforts. but revenue new experienced and with and increasing our enter business year no this portfolio a marketing we XXXX. In business XXXX, be can fundamental future. in Despite growth enhancements that as a our business a business basis this in backlog decline investments drive fiscal the revenue XXXX, market year saw software technology, changes returning downside as ongoing our to a strong growth would the new we into increased sales as internally a prevent through revenue Our expansion

With a and outlook sequentially financial accelerating business the growth of we year today are these as positive anticipates recovery progresses. providing the fiscal our tailwinds, services

and revenue XX% to double-digit return $XX range million, in the to expect million to growth. total growth year-over-year XX^ of We to $XX reflecting

opportunity total XX% the strategy software be range clients. finally, support our and XX% expect to grow offerings further We And to XX% and will and software continue services be market broaden revenue. to capabilities our our range successful in of our service portfolio to and XX% to the total M&A of of our we in expand revenue to of overall

that our Of course, be we we CAGR that can outlook this fiscal above achieved XX% acquisitions, any at the incremental target supports believe XXXX. acquisition we grow would since Cognigen in to future and to have a pace acquisition continue with

now discuss to Frederick, Will to our financial the turn me over CFO, results. call the Let

Will Fredrick

Thank you Shawn.

total renewals rate was services occurred Our our X% that early in business challenges the quarter prior growth for revenue quarters. the MonolixSuite the and due to in

the for revenue was growth revenue Software for the services quarter quarter. XX% declined and X%

continue of now quarter. mix software services the revenue revenue see XX% total and We improvement our for at with software to in

Our rate year was growth total revenue fiscal XX%. for

was for year. year fiscal the the And declined XX%. fiscal for growth revenue services Software revenue X%

now year, software XX% the revenue. is total For of at fiscal

fiscal gross the revenue to For this XX% decreased fiscal for in to the software The margin due XX%, from increased services XX% revenue year. business. The that revenue to comparable remain fiscal decline gross from the margin the last our to year affected XX% positively that the margin gross to mix quarter, in at for business. total which increased XX% trends quarter year quarter due last

XX% software year, had for fiscal a mix year for services unchanged margin margin increased fiscal gross greater gross fiscal XX%. to margin increased this year remained XX%. The at and XX% last and impact the on shift to gross total year the XX% the For our gross from the revenue margin total year from

of the revenue, ADMET GastroPlus software represented and XX% XX% Predictor was For was MonolixSuite was X%. other XX%, quarter, software our

was X%. GastroPlus was XX%, ADMET software year, and software revenue, other Predictor the For of XX% XX% represented MonolixSuite our was

mix evidenced with MonolixSuite and since GastroPlus the software of entire year We last continue solid across only our diversification was growth and to revenue software portfolio revenue X%. enjoy change our was as XX% when

again see companies including from nonprofits and $XX,XXX average and commercial $XX,XXX customer $XX,XXX, to improvement customers. academic with $XX,XXX continue for quarter, from an in to our increase We revenue per to this

up Our slipped renewals renewal rate XX% last on been XX%, year for fiscal customer from higher and the have would was next fees quarter quarter. five based with into except the

scientists with nonprofit and quarter collaborations. customers and program academic of the modeling we renewal XX%, With our for recently safer development this education fiscal based XX% Our and increase rate prepare our to and We part worldwide. access offers program support from for training will students next of help this beginning expected to and academic as cost and next University+ free ongoing lower rapid them announced generation declined treatments our research saw of simulation year. the in educators our exclude that paid reporting this will patients down as software contribute from and program, renewals believe of was on

year, commercial to in our from also an we revenue fiscal companies average increase the For saw and customers. $XXX,XXX per improvement $XX,XXX, to academics nonprofits $XX,XXX and for including $XXX,XXX from customer with

those deals due average customer during fiscal than that year larger per quarter revenues occurred fiscal the to higher Our are of year.

customer from XX% based year for slippage year last for the renewals customers just down Our to on renewal fiscal I XX%, the mentioned. due fiscal the rate was slightly five fees

Our down was program. to XX%, as on to primarily they the from year due renewal XX%, fiscal rate transitioned this non-renewals customers based University+ nonprofit

to our shift me now business. Let services

from For PBPK XX% the was X% from XX% QSP, services and revenue services XX% services. services, other from quarter, PK/PD services, our breakdown QST from

the XX% year, the million and fiscal projects fiscal saw the compared previously reflecting decline fiscal service X% services, started XXXX increased XX% visibility year, million fiscal our to prior fiscal compared XX% QST of We a full at QSP, of key We increased ended and services PBPK to service was provide projects breaking the PBPK other the during from QSP, XX% in year this offerings. services out services. other QST end expansion to couple from total or services, were For fiscal with year of a from PK/PD, to and to in backlog, to XXXX. that activity up metrics, from PK/PD $XX regard and which the we year increasing breakdown additional reported from reflect increase fiscal prior continued completed recovery XXXX. this year the With nice XX% the $X.X XX% compared from

to income fiscal quarter, of period a was during increase to year. a or in this turning Approximately of same for year. the revenue result from a XX% catch-up fiscal quarter payroll compared payroll consolidated to of our biweekly Now statement. XX% or was this last revenue, of the a $X.X million expense $X.X $XXX,XXX SG&A million semi-monthly switching as the

efforts is seven The our As periods we on has One of all focus, move and our true-up part and US biweekly reflected payroll integration impact in to QX year with Company employees consolidated payroll. payroll the no in fiscal expense. quarter and our a for

insurance, seen in stock recruiting expense. We year since increase external fiscal cost professional have fees, also last and comp

period X% fiscal million Lastly, or XX% of to during XXX or the million fiscal year increased of $X.X year. salaries remain to was we revenue, $X.X described I from $X.X driven fiscal period tax the in compared same revenue $X.X This was on was of R&D of for $X the were year. period higher compared increases just last same million R&D the Income the R&D in X% same income negative the XX% we in quarter operations million the was million same fiscal X% the $X.X in during plus increasing by million Total revenue, compared or efforts. primarily decrease had tax rate an fiscal the revenue, our year our in to quarter support revenue quarter XX%, million period of with an compared for benefit tax or X% expenses last million year. from by XXX. period R&D income market of negative same million employees and the or revenue effective the headcount and for compared to XX% tax $X.X $X.X or increased to $X.X Capitalized costs $X.X last cost salary of for of rate last were SG&A to effective competitive fiscal to to nine million last of The spending year. year. benefit product development

last for $X.X tax We the $X.X to rate, last fiscal $X.X we million. And continue for year. million last year. share effective EBITDA tax lower with disqualifying to period $X.X period million, compared same the to million seen same compared see period $X.XX throughout income year. benefit the fiscal was primarily by driven a diluted Net $X.XX, was dispositions to was compared for associated year. the per earnings fiscal the fiscal have same that

$XX.X year, due with SG&A to the expenses expenses fiscal last to the revenue payroll revenue remain of competitive of mentioned. just the compared The million SG&A For I or of and increased XX% year. were $XX.X increase headcount expenses, primarily or increased increasing was XX% to related result in market salaries compensation million higher

compared and have for year. expenses operations million, year. last revenue, of was were by in or were to last in price the or $XX.X an million Income for million seen $X.X million period year. was fiscal XX% of $XX.X million to compensation Total million the to R&D year same also year. income same tax or tax fiscal was same compared since rate revenue year. effective for expense of X% Capitalized fiscal from million of year. last of tax an of $X.X period contract X% million Income professional to R&D to million of effective compared We XX%, million, X% revenue, labor, last driven XX% fiscal rate $X costs fiscal or last X% revenue revenue stock also period $X.X our the $X.X or expense cost fees increases of tax the and $X of $X.X in compared expense R&D compared in XX% revenue, during year $X.X last fiscal stock insurance, the

per share saw to fiscal the $XX.X income diluted million, stock $X.XX year. $X.X we fiscal associated result lower in to Net year to would $X.X last year, benefit mentioned, And compared compared X.X same last shares this year. fiscal $X.XX in fiscal diluted million also period previously tax of throughout million this increased fiscal share to year. compared million Adding to a million, As year. driven our for per $X.XX, EBITDA the by follow-on common disqualifying earnings effective back rate for August last tax to earnings primarily increased issued offering last dispositions. X% to compared last the were with increasing $XX.X

short We the end fiscal a million, term strong end million continue of balance fiscal At was $XXX.X to cash balance investments to the the compared sheet. last have year. our $XXX at year, and of

long additional balance Our us evaluating capital believe sheet reduces support for success strategic targets. are the to that as we acquisition continually secure strong need revenue we our opportunities position can term further and

also have We back on balance to debt call the Shawn. to now you, turn the continue will I no sheet.

Shawn O'Connor

in informed for In market continues Thank pharmaceuticals adoption conclusion, portion the reinforce our as and of our tools continue development you we model leadership of to the biosimulation drug strategically, industry's Will. techniques the we to with that capability well expand us look R&D. at to giving a and regulatory to agencies times scientific integrated rate as We future. remain five both four of overall academia

business clear capabilities. gives confidence have doing line business and our growth, performance accelerated with steadily delivering that, questions. in to expanded normalized your by And our very well software I This of to improving us growth will that our expectations. our result, be longer bookings. as Operator? service consistent line take happy growth backlog With we rates sight a with and strong evidenced As is is term

Operator

Instructions]. [Operator

Matt Capital of Hewitt line the Group. from comes question first Our with Craig-Hallum

with proceed may your You question.

Matt Hewitt

quarter, whatnot. questions your that hearing contracts have any the there, Good bounce those in would you and business. incremental bit have from dig Have quickly. for out very services side in it's those a closed? of see deferred, last be It called little side afternoon. What on maybe and deferrals the was back abnormal services to bounced of in the Maybe Thank as you back taking cancellation, seems call, customers? nice you the the are last of number the Any color were to the on to helpful.

Shawn O'Connor

Two, of that And down said or the Sure, or a third quarter, there as to which, doesn't in Matt. adeptly. normalization something manage to It during normalization. is can peaked around that more these back we I mean no quarter cancellations difficult. level headed three a are is before, holds occurrences as YeXs. but delays

regard. QSP is And to down, indicator picked the and and we Is market back companies back up our upon there seeing are increase stepped In that's sign. so area good good as hard pinpoint. outcome area, in indication proposals a as based the The toxicology response to any the frequency for FDA that to why the a healthy pipeline. some request in

that think, market of under past So where a come I PK/PD holds ultimately greater services and I certainly still that. terms in and is to can projects in cancellations. say the would delays her or point it than scrutiny,

As our sign when next less fast success before, said likely I the indicates that than this think the I opportunity to good have drug move a one fail profile.

the to we and that's a that, to think phenomena I from flare good it But on marketplace than no one manage basis. go-forward service other business that is around our guns are a going the have

Matt Hewitt

to the Shifting a is is than it to in it anyway. timing great. you five That's had a already good And with QX? out Yet here like better situation? Have Or those five? of closed our just of software anything any those quarter, kind estimates pick there renewals that sounds side, slipped.

Shawn O'Connor

end All of five the closed in week the year. the after

Matt Hewitt

That's great.

Okay. And queue. then I into one will hop back me last then one for maybe and

share? just we You Or a are you from you. Thank Are gains. we something as to XXXX you into continued seen to response? into get competitive take that shouldn't and mentioned if expect XXXX? seeing anything you curious continue share market I am that And have this to is going

Shawn O'Connor

Yes.

whole to growth. is out NMLE well overall Our a Monolix market growth certainly their there applications of ahead the with for growth comments regard there and as are specifically

and same time we to the quite benefit responding completing we ease-of-use, market Monolix. we of use PD frankly taking share end and to our approach clearly, when response significance. clients its great job the efficiently to utilizing workflow for that favorably in projects less market PK we to players the are internally there. So attracted to seen existing is where some are The Nothing that we are a regard? very see get Have more Monolix of of

on very momentum the continues side progress next into good and year. its So it Monolix

Matt Hewitt

Got right. Thank it. All you.

Operator

Oppenheimer. with from Francois Our comes next the question Brisebois of line

You may question. proceed with your

Francois Brisebois

questions. for Hi. the Thanks

quickly Just you to confidence gives to guidance, seems confident? fact is is bit? $XX $XX What here, pretty you million there? wondering give lingering million I tight. what a this quite any factors makes to it so pandemic that the due like So

Shawn O'Connor

of Well, sides our business. two

recurring this software On benefit renewal the the Really pretty the the back the confident that side, really direction the year. have half higher organic continue picked of last software revenue, of step couple And up our in rates its terms of gives growth it's of rates. high business up rate growth with years, us three being over seen in of to deliver and or we business.

businesses of COVID brunt so, but very affected. we minimally software COVID the there, at performing software the is look back business couple The unaffected, our wasn't when impact And ago, of years even well. impact a our was

there, software where other its and confidence changed impact being factor altered to programs we in That the closed began service terms disruption high COVID. But here performing still on timing, environment we confidence programs And the is biggest year service keep of discount we building and XXXX. our exited us a response side, have software and gives guidance. cautious reallocated a new two is bit moving nicely year our the combination in in to in underlying little And heads is those of contracts things degree quite as high and on year like the fiscal So higher of with COVID trial clinical the well. that side, the on in can being side. backlog, prepare an pipeline as the

Francois Brisebois

has on but been I in touched was just Okay. past, Great. the this wondering. And

there for? bit? On you criteria little the for seen when just up geographical? looking on changed are more Is looking Any color it down M&A front, a what come you has study it us, have you you valuations that M&A? are remind And the

Shawn O'Connor

a valuation of our although service and locations for Yes. to I it are support both target, global is criteria expansion mean our a the side, to our some us. unchanged. the on on an geographical criteria basis software unchanged attraction and locale remain that would if the that in targets benefits coverage. a strategy we in M&A some There focus be But are was software service, of our the right financial remains seek

quite of valuations is I so healthcare that accretive Company to performing for than comes addition well to looking easier has not are as year discussions play valuations got and bit doesn't lot Have It equity that referred the obviously accretive that that say, mean opportunities that a they that And affects a are little and also in appropriate, a private down? space metrics with certainly biosimulation interplays think and valuation Boy, us. we quickly. to might private has be still valuation to and into in it tough. be they We to valuation see were, see be we the valuation ago. funding well. the companies, market discussions, are come in space that

valuation are before. easy interact doesn't discussions terms no mean That parts were discussions with. headline are ongoing that is, necessarily in we of that target better candidates than they they the So of the are that

Francois Brisebois

a quarter. And the the little was here I in jump then of two on guess, side. revenues good. Sounds financial just There side, quickly, XX% fourth quick SG&A questions on the

SG&A maybe think went and just forward? contract maybe you Can expect as up you the the maybe costs up understand more the there? discussed went help well to you going What payroll I us employees team. added or

Shawn O'Connor

both in Cognigen company overall multiple a us roll merger of into acquisitions or of the number payroll. cost year, legal entities, our of details will to now our to support on We accrue the SLP, up for of enough. well the Will little some there. into quarters cost non-linearly. I changes for three bit systems go for Fair the in didn't as couple consolidation, fronts together. That entity payroll integration will let external that had our that a coming purposes A payroll did lumped as but that the it play essentially our Yes. savings one DILIsym through and factors a legal non-consistent internal ultimately change process from

wasn't other of The EBITDA in you into all expenses only came of that points play quarter, couple if and look on which our of in declined the focus EBITDA, a percentage fourth which in shave where was we saw industry. are off situation our revenues down, the it year valued terms this service And a revenue. environment below uplift we an in going in Not the asset, which only reduce expenses assets that in the respond our revenue in compensation back half to we is to our well precious that are the scientists. expected of be. most of a employees revenue to it we as area, organization to in to business to some and marketplace that but in and provides that pressure well were costs competitive need match to while These

well terms the OpEx little And quarter. a some there being so as of play high there's fourth in in

two bit our fourth OpEx of of a a to be year we Our the been fundamentally basis. in quarter OpEx where changed that on our on OpEx, basis terms or in return expectations a has nothing we will And last an go-forward profile. anomaly on profitability to and that go-forward are expect of percentage revenue have

Francois Brisebois

quarter. me. Great. much the on Thank That's and very congrats you it from

Shawn O'Connor

Frank. Take care

Operator

the comes question of Leone Raymond from next line Dane James. with Our

your with question. proceed may You

Dane Leone

Hi. quarter. the taking Thanks questions congratulations the for and on

So year? to of idea terms similar we of that active a questions bit you a have how think how of you aggressive. the get lot more be an I acquisitions in But question are in here. you going get coming do you can think

XX So, still you a next is to Or feel valuation, from engaging done today M&A? are some expect in months? And your get prohibitive follow-up. have that over deals I messaging you do the

Shawn O'Connor

now a gives a But number can valuation and acquisition. Dane. are frame. in cloudy little discussions an that me date discussions Obviously, Yes. of think of I pretty coming we Sure, that active, year in of versus time a less view the can't acquisition certainly a target those ago, achieved nature optimistic being because the terms the be predictive of pinpoint

our nine Now, predicted We meets months, right it target, eight it's find market criteria and of as clockwork. quick does and certainly a are can't motivated four a to in That deal Plus the three to that months process months, we portfolio close the with exact months, be next in Simulations add mean companies year? can. said, the as a that that

to So targets announcement there, continue and and bring this identify necessary to confident regard time will we they point resources to invest will the that that we some appropriate out in at pursue an confident to exist you. that in have

Dane Leone

in like the target Okay. Any generation? terms to size you specific maybe sense that of deal think going revenue is make less more or of

Shawn O'Connor

Lixoft, are we here. response in right will that a targets in the discussions of use now. point range I with as just a is leverage There

$X higher that revenue. would levels in that are size that. targets size higher are $X said of a that some level That target be targets We in discussions plentiful in revenue math, today. million being of to or there Those million close sort or probably of is than our

size most organizations those On the of or of are service the at in revenue field side, Lixoft below their flows. terms

service to that little be groups on be bit consultants targets. side, would So a they of smaller the tend

Lixoft size use than a in some maybe Lixoft opportunities would bit out and there's I there. example good So as a that larger are little terms of

Francois Brisebois

you the quarter guess, higher response for one there we is a terms spend? last have of clarify with just operating guess, those doing me. that's are I in abnormal Can And or to new this for margin Or Great. SG&A? increase and whatever SG&A the a Are I for expect rate one-time Okay. abnormality, to one you businesses? that consolidating that clarifying run

Shawn O'Connor

Yes.

of nine in amount payroll quarter. to a are of that quarter, to attributable the will which but growth think most to are response blip people, adjustment, the in marketplace. $XXX,XXX number certainly I that Obviously, I in the are recurring about is that going we think, for up, continuing compensation nature. it's not part, is the the our There some expenses reference

Dane Leone

Okay.

Will Frederick

in total XX% we you expenses year. XX% of a XX% that looked happy sort there. X% it's expenses versus on up the for and revenues, number. am the services' last It's the fiscal range, we challenges. on add of add look I percentage go still ended at, at keep controlled continue year, would year, And for standpoint, go which as competitive absolute still is were at quarters. on the R&D revenue is the more as growth would look about salaries. in trying we operating be if just what we dollar beginning that where pace, coming SG&A of the range, our say, to things But rate. To keeping And I an that. growth on in we I it. to on as when with well higher X% had But focus would of timing where I back timing QX, operating where with out in the revenue came our first bringing quarter our think to was about in below but year, were up, QX will at driven to people total half other by this From expenses XX% to

Dane Leone

much. very you Thank Okay.

Will Frederick

Yes.

Operator

[Operator Instructions]. closing at would to There back over Shawn Mr. are the to no like this comments. questions O'Connor for I further floor time. turn

Shawn O'Connor

thank Well, good. you Very everyone.

fiscal software further from the pleased came Thanks we a service Look Take both now in quarter reporting very business, third saw fourth you. as are of that forward and results compared lot. are challenging care. our both where they on and our the enter year. in, we of to quarter momentum in businesses a to pleased sides the We new to with quarter a uptick terms some

Operator

teleconference. This concludes today's

disconnect for may rest day. enjoy you your of your lines time. Thank this You and at participation the

Simulations Plus (SLP) 26 Oct 212021 Q4 Earnings call transcript