Earnings call transcript Q2 2023

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Operator

Greetings, and welcome to the Simulations Plus Second Quarter Fiscal 2023 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.

It is now my pleasure to introduce Brian Siegel from Hayden IR. you. Thank Mr. begin. may you Siegel,

Brian Siegel

their afternoon, everyone. financial our quarter XXXX to Frederick. our Shawn will call, open the Welcome conference call. to floor After Will results CFO, is and second of With the O'Connor; we fiscal questions. our Good portion me CEO, today

refer risks remind expect Before in forward-looking are will this to except our actually and Words will historical believe, everyone to involve like uncertainties. begin, take anticipate as that -- be we call, want information, estimates for and presentation there statements that place. these and we I no of the discussed best that matters that assurances this can

factors future significantly company's could differ the actual and Further quarterly from and our annual information with results contained company's SEC. is the U.S. reports in statements. So risk filed these on the

turn would O'Connor. said, I Shawn? With like Shawn that call to over to the

Shawn O'Connor

Brian, conference on all and for Thank was you for Plus. us quarter This solid call. joining thank Simulations you, quarter second our a

revenue X% grew year-over-year. quarter Second

the business line grew the made and with proactively we program expectations our software highlighted grew offerings. in renewal changes year-over-year, by the X% PBPK in service X%, by and business reflecting Our PKPD generally

result over maintain our margins we This perspective, leading profitability a guidance From quarter and the saw for quarter. as $X.X of exceeded solid per net share. $X.XX diluted improvement million first the to grew, revenues income, or

and challenging impact cycle. a continue our economy its to navigate successfully We on sales

Drug the cycle. developers sales delaying are elongating purchases and

that XXXX outlook. this account the this I in opportunities, second did taken but part, impact into not reiterate growth have our the full lost preparing For our quarter. when year most we we've

of to Polish expertise Academy discovery help involving and and AI To collaborative machine of Biology Sino-American both artificial two partners our molecules technologies with, collaborations our intelligence against have emerging two leverage of learning learning last month highlighted work by in Foundation of we different partnerships the novel targets. Institute our significant Both in will Second the quarter of in clients. machine Sciences with Medical technologies. was the announced begin cancer Cancer with the support

medicinal technology cutting in ADMET team them our and services discovery platform Predictor with AIDD design the edge lead to accelerate software The our of early chemists in utilize will optimization the molecules. computational and drug novel work to

in AI practice our Our two these and of areas. machine our is the discovery primary the of drug of objective our consulting and our these demonstrate and learning in licensing growth value technology collaborations in capabilities service team market in to support software

do or pKa new We into two models of for collaborations In these broadening and successful. opportunities compound collaboration large -- and these learning opportunities company our a addressable collaborations with benefits extending addition, incremental joint if machine the agrochemical ownership, entered new different into We're represent. provide excited both space milestone a very payments about a market.

use to chemical proprietary values company's that will internal from partner refine accurately pKa measurements drawn team compounds. the Our of model predictive build vast and can the various a predict its databases

capabilities predictive new Additionally, techniques to we algorithms and the enhance the of will and evaluate create model. further

ocular for submitted also finally another dosing one lipid-based We precision grant and workers. virtual four for PBPK FDA BE and applications, PBPK, formulations,

Plus. FDA been extend have for modeling collaborations strength a to the in relationship functionalities Simulations Our with always

is the and to formulation for developed test development. biosimilars A bioequivalence prototype the predict of and antibody advance the global results the emerging and risk GastroPlus on Preclinical a pivotal biopharmaceutical into final opportunity company biologics in biosimilars PBPK simulation injectable formulation help an to decide of for us. the clinical Applications The strategically reference failed PBPK in market study and minimize company outcome. the project. for partnered their to the applied with apply are GastroPlus us modeling formulations models for

The for experts obtained for IND in candidate and their their selection, designs internally our confidence company medicine precision simulation our for entire backup onboard partner the in software use stage upcoming their with the from compounds clinical A the GastroPlus the study convince across these results clinical human support lead to pipeline. first and filing. outsourced modeling forming them activities to helped PBPK

This quarter team and genetic considered Simulation for support for pharmacometric service regulatory in drug most profile modeling in to Plus's launches other simulation anticipated treatment compound the a submissions, offering compounds among rare multiple including one XXXX. be provided disease high novel two

private successfully the public as to our project looking a in QSP project for opportunity services This invest we even provide investment expanded Finally, consultant NAFLDsym to insight follows investors, successful larger group another selling our quarter. companies. an growing for to last

public utilize is numerous for clients model investors the and opportunity to creating demonstrate us. drug a to an ways ability information decision development new our highlights utilizing assist These we make help informed Our approaches. data informed

business. up Moving quarter. to in our the software Revenues were X%

we previously trend to expect taking we're with and with seasonality, dispersed This seasonality revenue pattern first had renewal evenly we line through dollars. quarter fiscal absolute software As align quarter. fourth software our evident our stated, was second impact revenues deliberate more the customers actions new our second in which being quarter timing, to in

anticipate our during renewal minimal, and and having software revenue are impact year-over-year believe the rates for being this fiscal change the initiative efficiency harmonization growth the software by is expected we guidance. ourselves our in seasonality, on customers We to should its be growth revenue year. in it's contemplated and of results impacted completed Quarterly be

clients economic cycle but new lost. out sales concerns, as sales potential impacted is being several Our to not were pushed by

of and this more We funding increased several to success At also rolling higher of which measures, due to for increases sales market account. in out that price reflective dramatically revenue and smaller had the same are the renewed in headwinds not part costs, are offset market. average biotechs we new our impacting implemented that segment the higher economic containment somewhat and slower margins time, achieving gross per cost contribute

booked We But growth as it Brazil, expected, added in China. new its nicely sourced a distributor renewal hardest which with note, Of six new brand during business XX% first by customers, including quarter. alignment. was quarter. the sale the hit in quarter we on brought GastroPlus second the rebounded first in in

upsells We all also points. peer data are positive journal to made published reviewed XX customers existing saw and articles. six These

MonolixSuite process, software impact. X% and foreign quarter in declined the revenue to harmonization exchange mostly the due

However, over we added made to quarters. new customers good and the five next six during returning feel upsells growth and few quarter customers to existing about the

from revenue quarter. loss in customers we upsells Predictor the made of added and saw the which small to customers one second received existing biotech impact Despite ADMET eight the commercial in decline X% the customer new largest of the core. this,

grow licenses program The modeling XXX software integrates simulation growth. makes advanced in XX to facilities to it drive of and exceeding continued generation and of and program while now the represents University+ next countries. market future curriculum our Our educational professionals and part

Momentum growth and we in services the to believe consultants two the quarter quarter. convert our revenue continued hired million. will the five business help we backlog in Operationally, hired we adding backlog X% to revenue in in these second professionals $XX.X growth with to quarters. the And first coming

projects XXX increased the performed this quarter. XX% We revenue PKPD during quarter.

decreased price life high cycle projects. volatile expanding margin to our a contracts services margins. XX% quarter, value continue these more QSP/QST time -- for fixed nature the from We material experience to which to the due projects, me, of and longer dollar higher contributed shift gross to excuse

we comparison creating second a had significant As the quarter challenging a through this business. year, CRO last in pass revenue, for reminder,

PBPK quarter, revenue the reflecting of including an perceived increased cases expansion deeper modeling, overall higher XX% for and PBPK implementation use the impact. of value

cash of an dividends. the implementation discussed evolved capital allocation our last accelerated January, quarter, we program, including repurchase strategy, we As an in which ongoing began and share

we reminder, have focus: first, organic investment, growth. which internal a areas As drives of three

Second shareholders, development, the million return regard returns finally buyback Board and capital to corporate to which growth shareholders. approved organic a is With of program. drives in to capital $XX

our offsetting the dilution we raise. free cash and Given the execute XXXX a the capital of still initiatives, can cash corporate from we current portion while development position believe flow,

We initiated $XX anticipated affected currently an repurchase a the program the third share with in is ASR, quarter. conclusion being million which with

the XXXX, our Looking we the remainder fiscal at to maintain the provided of of fiscal beginning we year. guidance

revenue is which to target year organic XX XX.X growth, full XX% to million our reminder, XX% a to million. As translates

investing to our As support people we XXXX year areas This fiscal transition means continue certain adding we in will headcount a targets. quarter, in for growth to said be our selectively long-term will last will while benefit our and lower are EPS restraining operating growth, our leading leverage. margins and EBITDA cost structure, these returning long-term proven actions and to revenue while with growth. believe strong We model a

to share growth. XX% achieve expect X% We $X.XX, of which translates diluted $X.XX to to earnings to per

the me to discuss to Will financial result. Let turn

Will Frederick

Thank you, Shawn. revenue growth software for and of X% comprised X% the increased growth. X% services quarter Total

and XX% of decrease year-to-date X% Total growth. in quarter. represented revenue increased during comprised X% a of revenue the revenue services XX% software Software

the quarter for year. represented improved higher reflecting of revenue the year-over-year XX% margins. during mix Gross software XX% margin and Software to services improved the

margin due to remained services and at year, margin XX% increased increased flat last to pricing and improved compared utilization. gross Software to XX%

Gross reflecting year-to-date to improved margins. margin year-over-year services improved XX%,

Software margin decreased to margin And XX%. to services slightly gross increased XX%.

software Predictor the revenue. GastroPlus other suite X%. software was was other of software XX% XX% was For MonolixSuite ADMET represented revenue, represented was GastroPlus quarter Predictor XX%. X%. MonolixSuite XX%, XX% was and and X was of XX% Year-to-date, ADMET software

seasonality reflected in the rate higher the the in based as as renewal as our The XX% customer prices impact customer average were the customer quarter, with accounts. smaller lower smaller timing biotech mentioned, renewal combined as reflect These with increase offset as XX% based Generally, companies, the higher is fee smaller biotech fees our changes on software increases revenue of of well reflective price the was For business. Shawn on based non-renewals rates. the customer per well our from of and renewal non-renewals. the rates loss

and XX% business, QSP/QST expectations. breakdown to increased revenue on renewal customer our services quarterly Year-to-date, from customer comparisons accounts. and XX% services, from to the based periods XX% PKPD into fees services. other new the based We seasonal fiscal prior our $XXX,XXX. XX% services to XX% year on the throughout with services, per our fluctuate was X% Average from services, from was PBPK rate quarter Shipped revenue expect for

year-to-date compliance services. services, QSP/QST services, we global our Other services revenue quality from provide consist and services to from regulatory help The XX% requirements. breakdown XX% PBPK regulatory X% from was services other and primarily from PKPD XX%, them of services, meet customers

services projects services to comprehensive year, last primarily to training, and provide modeling customers and from decreased million business. worked a the X% on last succeed. quarter million. our approximately with learning year Total also are of services to on the by compared variety approximately during $XX to options backlog We decreases QSP/QST $X decreased The help simulation focused due

of statement year. or $X.X were $X.X expenses XX% income million, of for consolidated X% revenue R&D $X.X or or year. the R&D also to $X.X last quarter. last revenue of million to of XX% Capitalized year. revenue $X.X revenue million R&D million, compared last our Total to X% or revenue of compared costs X% $X.X Turning was of compared million, or were X% revenue million

million, SG&A million, revenue, while expense of of decreased compared revenue or headcount compared $X Scientific was increases XX% last were from million, margin XX year. $X.X $X.X driver XX% the of compared Income last significant to year. -- or XX% and was to most increase. to operating operations compensation this XX% XX%

This year, million Interest was this from last $X reflecting quarter $X.X to $X.X rate year. year, compared tax portfolio rates effective to returns reflects XX% stronger interest of in compared $X.X year. higher million income versus million tax last expense this XX% our investment balance. Income was other an million on last

to for decreased exchange related $X.X and $X.X decreased share X% during impact were $X.X currency expenses quarter and revenue foreign to The Net diluted to income quarter the was $X.XX. per the million M&A million, from million. earnings

$X.X XX% For was EBITDA $X.XX a adjusted total share. or of earnings last Adjusted per and $X.X diluted compared or million was about EBITDA XX% million to margin year. EBITDA adjusted margin $X.X in of million

other As the back to by website. provide and stock-based adjusted our expenses. of in We we our expenses, on non-GAAP earnings related a or release calculate non-operating non cash expenses and EBITDA relevant metric a GAAP net reconciliation to reminder, compensation adding M&A income this metric

to of $X.X to X% consolidated year. XX% million R&D Capitalized total year. Year-to-date, was compared of R&D X% million, income or $X.X or million revenue revenue our XX% were to were revenue revenue compared or or of expenses million, $X.X X% revenue also $X.X of last Turning costs R&D to year. million million revenue compared statement. $X.X of or last of $X.X X% last

operations an compared $X.X margin year. to tax compared XX% tax and of last operating effective $XX was $X.X year, to of this other last year, to versus million, million, was or Income million SG&A $X was expense million compared $XX.X last last year. income year. from XX% last reflecting million million million, XX% revenue, rate $X.X to Income XX% XX% expense of was $X.X Interest or revenue XX% compared to year. decreased XX% while

for $X.X the revenue from XX%. diluted per to $X.X a effective were our diluted related about currency expect expenses $X.X decreased decreased million. And the to the We income in $X.XX million of tax fiscal earnings in Net million year-to-date $X.X be per total earnings and The to impact XX% $X.XX. to rate year range foreign year exchange share XX% M&A was or of million share. during for to

Adjusted EBITDA of EBITDA short-term with ended and last million adjusted $X.X year. investments margin margin $XX.X and compared of XX% no We to $XXX was the EBITDA million, XX% million or cash was quarter adjusted debt. and

of shares shares retired delivery $XX accelerated as issued Stanley During received million paid under common the quarter, These stock. repurchase stock authorized and and agreement and initial our are treated shares. of were our an we XXX,XXX Morgan

repurchased The estimate weighted ASR than currently on expected term delivery be The price the shares. common approximately final agreement, based XX,XXX to average to quarter, volume less during share subject completed be and the we final to and be of number stock of settlement to of is be XX,XXX to third our will adjustments. final during discount shares the the

capital investments. well capitalized you, pursuit We to we I'll have support sufficient be call back the to free continue flow, allocation now cash believe of our to our Shawn. combined and acquisitions resources strategic continued and turn initiatives, with we

Shawn O'Connor

well, renewal on expected, unfolded to track putting are adjustments year goals. and you, our achieve the Thank generally full us Well, we our progressing strategy quarter to as the

these in Foreign sales the a impacting driving growth, profitable headwinds economy shareholders. navigating exchange create challenges smaller continue our general cash rates pack particularly biotech companies. for to we returning as generating capital cycle, But and to are

reduce adoption we tools I'm greater deliver commitment continue of costs. to to science, our in accelerate on silico driving proud and that to innovation

expand increased investing R&D enables collaborations. maintain in grow us internal to our our are scale our leadership to We efforts and position. And industry

our expanding have and continue collaborations. relationships, development strong now global FDA regulatory We technology multiple

execute session. and attention. are we fiscal now call ability to conclusion, turn achieve against you In our your the time over confident Thank operator for XXXX. and for And to the our for question-and-answer in our I'll guidance plan the

Operator

[Operator from Brisebois line Instructions] with comes question. Oppenheimer. your with François Please question Our first proceed the of

François Brisebois

Hi. Thanks for taking the question.

of you clarify growth and just confidence what the maybe you the Just in terms quarter help the of just for the can a -- here maybe and one is and confident metrics first revenue hitting go. me just the it revenue achieving qualitatively are the end that is year guidance, confidence on keeps us what just based year-end

Shawn O'Connor

gone process renewal the as Frank, quarters end believe course of harmonization has regard that that anticipated, the that through has in strongly of impacting complete jumbled our through couple the software and complete year. still the the by will will really harmonization and pretty the be be renewal rates first program the renewable of the The year revenue. delivery Yes, of dates the activity quarter

depressed going get of out rates fourth quarter rates and a the the was the of last year, the growth in be in And pattern with quarter normalized where year-over-year first year [indiscernible] lower in and and third quarter, quarter, especially half more inevitably would very low the exaggerated of of second, should growth quarter a a fourth basis, last quarter a revenue, first business third the as to comparable be of and in fourth the low and revenue terms we're that fourth the end meant we year that to seasonality quarter you first terms the with so evening year. year, that revenue low software on this see delivery the growth can quarter, we in

were qualitative or pretty anticipated program, indicators the slotting year. harmonization So path the into that that in the on much going

François Brisebois

Okay, Great. great.

It's a that line than bit with you new extension we're in still that expected. dealing of sales this wouldn't it It's a in So worse cycle it expected kind it. quarter fairly little we that not shows look, seasonality. say and was

Shawn O'Connor

terms barely program. tariffs harmonization line no in in Yes, of

the receiving slowdown, in harmonization we're environment, departments through biotech, our so your of we and the in cycle clients macroeconomic industries, see way and that. that program, certainly purchasing sphere, of managing as segment sales Now elongation especially some our independent in

the a increase beginning beginning of at the the on yielding the that year, we're side, offset year to pretty we other those good And place that before challenges of in is put into. running price the contribution economic

net at guidance So beginning. out play, to as come a into of which number of down of and provided variables the coming reconfirmation all

François Brisebois

is Okay, great. the making, been very maybe comment? you given hires specialized loss and And personnel on you're kind get if new only loss pretty Can force, Is more whether a these the there the is other as hires? part people just same I then on or weight a or that the the to has much of normal on, kind just the economic sales new guess, for of that side, hires. of net-net, going remarks a been what's or and there's discussing well not loss prepared a of Or there consultant it are of side, feel [indiscernible] backdrop for trying us.

of through haven't last organization year, up. on shored site group. scientific success can't invested focused today Very bit end two on quarters. lost positive. good plus the retention. to on the a a and that anyone. net-net for last is recruiting, Good We say year. certainly hiring, side the at consulting But retention that Primarily [indiscernible] compared quite It's I here to

to terms contribute people which and would any a review component on factors some And for thought on support with with year our a tapering in of we into Plus, programs efforts the marketplace the implemented and the demand of fiscal we that for our really compensation quite other pleased that investment terms had working that In of board that of big but of of we do today. Simulations off all recruiting is have skilled that results was challenges retention 'XX. aspects

François Brisebois

That's me. Thank great. and it for the congrats progress. Okay, you on

Shawn O'Connor

That's [indiscernible].

Operator

comes Matt Craig-Hallum. question line of proceed question. Hewitt Please next from with Our your with the

Matt Hewitt

like for thank or that side It Or on taking on that? something much it to third that you GastroPlus expect to here a of pretty complete a work regarding maybe the little X you and process, the the you're MonolixSuite afternoon is Good process the more got first Maybe questions. complete quarter equation. wrap sounds sounds the side. like up up to the do in bit synchronization Is you've quarter? X

Shawn O'Connor

Yes, by the Matt, that the done even end of the process. wouldn't process characterize GastroPlus. it's is year I for

While we project did that is on that there quarter, the of to has second play XX% bounce that the to still combination out. back side see up there a still growth rate with in movement renewal

So do through it, are still halfway will, halfway year, you think the to making by hard team. but we I if some certainly the work progress through

Matt Hewitt

process? Okay. on think, much Will, bit speak that quarter. little to, that here function bit there Is the And a that on to that else? little you color the in spoke contracts I bit pretty Shawn? a a then synchronization something provided I second signing of Does think is the the rates of you renewal little Or maybe delays a new on dipped

Will Frederick

that rest tied process and of of combination then the some environment the just those the the Yes, smaller renewing it's out to there it for aren't is financing. them timing renewals. the And for a synchronization get to of with biotechs

Matt Hewitt

both royalties Will for congratulations obviously, should structure thinking potential collaborations, agencies? -- molecules -- the contracts the milestones? Any about own new the those regulatory would those regarding size we curious, the color on of potential helpful. the will additional then are be those. be I'm And Who approved if just it. is there molecule? by And of ultimately on of the the there Got be how maybe

Shawn O'Connor

in this Sure. AI want value apply with data, team of working generation there, support and a software with Very put in process it of the our the two services the learning emphasize will partnerships the focus of our provide will driver -- in along our the of terms on produces and in two machine lead excited our that knowledge is place support here AI demonstrating a cases, about technology being to the to business licensing consulting that many technology, the are technology with target business it to supply area. hopeful our we that in that and organizations and capabilities our very candidates success our focus terms

been provider studies know, tool being and in success those drive our that. as drug our you And clients what stories case of has Having developer. as is a will to opposed to terms focus a

you it's joint one very of relationships. benefits And one be program. success associated it's may is involved. the them royalty defined to into stream other for the case, these out of of of enter with in common it compounds a Now And is some And case, shared in them. that the triggers a that come ownership

it while is not So that's come nice icing-on-the-cake opportunity. a to our do take to focus, fruition. primary programs these time some Understand that

a any for don't I see but So us, the opportunity nice near-term two from the certainly run. in impact long those opportunities in future

Matt Hewitt

And we'll there have if it And last as apprised hopefully great. progress. I'm you'll handy, sure and obviously, keep to maybe us anyway. not then throw That's but those one, out I'll going this you're one --

how new market And go, you. these maybe are outside one associated more opportunities? being were markets. like things moving for early one-off depending you're upon it if, market then you? a mention Or -- just You sounded new those with into becomes couple situations -- it of very Thank curious, did is I'm of there a basically TAMs it therapeutics, stage

Shawn O'Connor

today, outside our And agrochemical up for a of Matt, some into there and that been which of This business basis. more certainly Yes, the that go-forward certainly a to with partnership footprint. is industry our TAM industry done we've the very opportunity that has X% our adjacencies. opens other world collaboration small support the go segment, on in in support and add would working cosmetics bucket pharma opportunity of business would

to a is already, the is might area And that market market participate biologics We us. in be certainly more that referring new functionality to that in for The but share other brand opportunity take our segment. think market and not us do that footprint in increasing one I experience you collaboration. gives

Matt Hewitt

it. right. you Thank All Got much. so

Shawn O'Connor

care, Matt. Take

Operator

your question Ramgopal Please Mitra of comes proceed next with question. from Our the Sidoti. line with

Mitra Ramgopal

Yes, for the good afternoon. Thanks taking questions.

you're continuing if to First, the seeing now small third Or even medium-sized that's in stabilizing? accounts, churn into moving quarter? biotech is companies? just maybe curious on And it it the on is

Shawn O'Connor

It large as scale. continues into it's growing the pharma terms mean biotech as quarter in I evolving larger third medium-sized and of up slowdown companies have well. experienced

it's but funding bit territory critical, been little funding So so virgin critical, the not in so in space forth. other biotech candidates, pipeline a on of dramatic it's and more those categories, small is is smaller where more mid-term

challenges the continue they this quarter. certainly, So into face that

know and with potential in small activity plans. a funding, hands a into the while cash the level, the of in playing the down for purchasing more terms biotech biotech up space. at market marketplace, this we're It to some up takes opening trickle in opening funding I back of that

be there level, macro, at some about it's positive equipment. while signs So the ground might still -- on

Matt Hewitt

the Thanks. recent included fiscal If to And Or coming in back more contribution? terms the a 'XX? that's is also expected Okay. hires. in that just of guidance

Shawn O'Connor

up running recent and of time We've our contributing and experience. seen in new billable quite terms hires come quickly most

had fiscal on the next our to this to guidance because contribute not are waiting side But So changing we for until at success of recruiting them be no, we we've raise point. the the will year. it

Matt Hewitt

you've next position, in thanks. something we that expecting And front your level you've of be on And the past months? close, given know if I you lot speak. and And -- cetera, then have strong mentioned environment evaluating just optimism inorganic current wondering finally, opportunities. on et been the the should then Okay. but nothing to a so over cash your XX --

Shawn O'Connor

I and it's a around discussions Mitra, for time certainly, hard things. a But the I'm constraints to really active is very those and And efforts making put here announcement that it us, in ever number space. around area ourselves but that. Yes. investment the any point road, find of put at can't of down we brackets will an timing some that happily sure

Matt Hewitt

That’s great. for thanks again the taking questions. Well,

Shawn O'Connor

care, good. Matt. Take Very

Operator

of comes [Operator proceed the question. James. Instructions] Dane Raymond with line Our question with your Please from next Leone

Dane Leone

Thanks in then any expected some very the you estimate Thank us in much. Two there the EPS this of of impact projects in could secondly, driving therapeutic questions from terms are particular just that of for an quarter buyback more year? terms One, the give in me. you particularly you. or the revenue? weak drop saw had verticals were service that strength And

Shawn O'Connor

really performance I'll business spending of on of and areas. to really front, its of in The therapeutic in terms focused real service QSP/QST revenue not of that relatively seen consulting terms in go this its neuroscience areas backwards driven and the cadence revenue can that that we've the No quarter where as typical sometimes lumpy sort our its oncology therapeutic business in the areas. multiple terms with Those change dynamic be of are across service $X active therapeutic projects. the million, $X projects drop front. quite million

revenue It's tailwind. a they're had was the of quarter Will, quarter really of so just group, year, in large not the a the to want EPS it's help So therapeutic challenge of out the significant comparable bit that there. a second projects. we impact terms for buyback? in And the on last timing stock area you a side the of

Will Frederick

Sure.

to underway netted guidance. included improvement a which that we've the it, got about interest we the we our EPS, a in about it's and $X.XX could is call I'll ASR -- against earn, the that cash With used

Operator

no queue. are the to in hand questions back the call further I'd to closing remarks. There like Shawn for O'Connor

Shawn O'Connor

Simulations with a results. in few Take and today appreciate to Plus. everyone's everyone. I forward months again We support Well, good. third Very of look speaking quarter attention our care,

Operator

does teleconference. today's conclude this participation. for gentlemen, and you your Thank Ladies

time, may have wonderful your at and day. lines You disconnect a this

Simulations Plus (SLP) 5 Mar 232023 Q2 Earnings call transcript