CERT - Earnings call transcript Q4 2021

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Operator

Good day and thank you for standing by. Welcome to the Certara Fourth Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] I would now like to hand the conference over to your first speaker today to Mr. Relations. Investor Deuchler, David

begin. may You

David Deuchler

afternoon, everyone. conference participating today's all Thank you call. for in Good

call have release Earlier On Executive Certara, copy quarter from the we XXXX. XXst, on Andrew financial for A Chief the ended released website. December Officer; the William Schemick, Financial available Certara Officer. press today of results the is and Chief Feehery, company's

of during statements to of begin, you XXXX. Reform that future safe may meaning statements from of I'd those of within relate make forward-looking of events, that results, include like the the call expressed or or remind differ securities Act are materially this we implied forward-looking the in statements variety which that Before will call to statements Litigation laws, made results a Any in due federal the performance to management Private this Actual factors. predictions pursuant Securities to provisions expectations forward-looking or are contained harbor statements.

and Also some may should EBITDA, adjusted their these consider management only performance. measures. factors guarantee and earnings website. remarks accurate aware to GAAP questions, For are this the only please estimates statements, any of revise refer of intention you statements financial or new a March is on which release, filed certain William. live business, available our call whether information EPS Risk in Commission except financial turn the section to mention as projections is Factors the company's Certara XXXX. non-GAAP other income, and as and otherwise. events, to with be to in forward-looking the be a comparable or recent financial measures the Form call after or conference Reconciliations urge time-sensitive these the with update Exchange future will most or will broadcast or the any uncertainties which of associated available adjusted XXXX, by contains the Securities The of considered you directly responses list over net shortly on information, measures should And law, risks that filed to future call. I and Certara's today, to with March non-GAAP and We Xst, obligation, and because XX-K not Xst, be disclaims of that, required description of adjusted are

William Feehery

full-year take initiatives. a Thank was and David. and prepared everyone. Thank made public for milestone and fourth was you, of we full-year I start you number remarks as priorities a and afternoon, progress on questions. for earnings XXXX joining year key Certara. Andrew company will a we Good then Certara's will first with It call. quarter and our

the proprietary We drugs mission speed on also our R&D team accelerate technologies is for our by but advance process millions our of are to strategy excited transform opportunities and safety software, leading global ahead continue delivering platform to very with development and with end-to-end services. the experts. drug our and innovative patients biosimulation process our process, we about as to technology only the We not help drug and efficacy of Certara the worldwide. powered up of At

world. million, ago. growing revenue XXXX was year Fourth and versus quarter. total the total Pinnacle in $X.X we contributed Pinnacle of same XX% revenue including Pinnacle the $XX.X revenue region quarter. the $XXX every period million XX% quarter the million, in year-over-year of fourth was XX% in reported double-digits contribution growth For full-year, growing XX XX's the the excluding a company in XX

a year ago. Excluding the Pinnacle X% XX, with revenue was $XX.X compared growing period million, same

fourth expectations, expectations, revenue technology with our XXXX. XXXX, with growing driven of services in in line but software Excluding the growing Pinnacle came compared with XX below of quarter XX% the quarter X% was quarter compared fourth fourth

technology driven both work quarter performance executed. impacted which timing in of by issues, Our being fourth was driven of services the two the

our third delays. cancellations regulatory did in have strong. to and to we call projects variability and commented COVID First, quarter November, services continue services as have earnings We in in due our not be timing the related we projects been bookings regulatory of our experiencing

regulatory experienced recall, out the XX% you In to QX in significant closing related of recognition As in year-over-year technology of QX, clinical due impacted XXXX, the timing driven COVID we in growth, slowdown services projects projects. delayed which to regulatory, it trials the half the in in QX in In recognition and in in revenue mid-teens we XX% shortfall year, XXXX. year-over-year services. of the a revenue continue driven grew resulted growing back and technology expect in services services

delays over the these this revenue in year. and will services we expect will of course XXXX regulatory moderate most We the of recapture

to consistent bookings to work our to out billings the our manage smooth recognition continue conversion We revenue hard of year. throughout

fourth reduce surge variant Omicron the cases factors quarter. are transitory that Second, believe half COVID-XX capacity are equipped in back in the well from in that the XXXX. the to employees the and resulting We we of our manage these clients of

to coming activity As people as we and look more optimistic back we year, forward to the more the back the in year levels returning normal progresses remain office. coming about with conferences

XX software for Turning XX% XX. demand the by software and our The driven according to biosimulation renewal proprietary Phoenix was to with delivered and pleased XX also platforms XX% our during rate our a strong expectations. software, including we fourth excluding and quarter, Pinnacle were grew our Pinnacle growth Simcyp which and XX% performance Pinnacle

in those Investor of at our in our R&D number see for ahead December we As Certara software we mentioned activities to increased a opportunities and we've XXXX. compelling Day, investment support

Simulator, on or Simcyp for studies support dosing reduce interaction drug-drug focused as well as continues populations. to patient expanding better waive adoption of in and our to cases grow bio-equivalent we're special which the Specifically, use

over the fourth services we subside software continue the in transitory expect Fourth during XX quarter Looking to the believe grew bookings the Pinnacle XX. the XXXX, period, year-over-year from will headwinds remain strong of both and prior in contribution trailing services including experienced the year. to XX% regulatory strong. course and Bookings bookings trends projects quarter software driven in we grew and over momentum XX% technology month

to strategic well achieve long-term our plans. positioned remain such, As and financial we

XXXX, Moving to X,XXX customers software engage than year. for and who including us in more our we distributors XXX performance end we drove new customers through more strong Asia additional with the now customers, than growth serve Pacific. in In

of value strategy Our quarter. growth focus the land representing also software among year-over-year. delivered and year in the customers. more $XXX,XXX, solid ended expand integration with our has with of XX than annual of an customers Pinnacle growth We The important XXX fourth into XX% existing was group contract

latest many to X.X XX biostatistics remain and including and Certara drugs additions identified to efficiency fourth of the encouraged In December, Simulator offers development library comply with XX. analysis new is the the software of models. beginning Simcyp advance Simcyp and opportunity Simulator released of with to updates continue regulatory acquired data to opportunities enterprise biometrics software to The by ensuring standards the standards. the the our priorities hepatic support are for supports aligns to update guidances Pinnacle facilitate experts which very submissions proactively and we agencies discovery includes and small software, The updates top other first to increases the Scientific the We when now Define-XML and We customers DXXX to Version our we with data the XX.X. execute to value priority interaction on milestones our regulatory quarter that version recent the version population The in during expect analyzing to and of the we Version requirements. compound biologics. This DXXX of platform. impaired from latest to molecule it the drug-drug promise feature-rich XX Software and in guiding immense remains renal latest emerge compelling research. we a Informatics growing Pinnacle team growth software release and Updating XX Pinnacle of the pipeline in design for release innovate

and Immunogenicity expanded we licensed problem immune the response drug more time in offices. Simulator major has to research user that trigger divisions immunogenicity and therapeutics biosimulation with for recently submissions FDA and protein-based regulatory to of across our the of of XX for FDA evaluate a software is The Phoenix During Simcyp an Certara's XXX and than announced licenses licenses platforms also quarter or renewed Immunogenicity the development. biologics. first and tenancy the

could products. these XX% inform XXXX submissions. was drug customers Certara's excluding eighth software regulatory on to Immunogenicity immunogenicity therapeutics incidence approvals for Our to FDA the is received study outcomes for guide of used of The regulatory and the can label. us of be dosing clinical in to also that a drug agencies predicts Simcyp continues Simulator approvals It consecutive a of year by privilege their reviews novel diagnostic to Simulator rely that global inform better design the patients. for provide XX the

We reform the experience FDA's to by strategy more landscape dose and our lead additional is is drug selection evolving maximum dose of to may a of in trial as tolerated launch Project dose developers initiative, efficacy. submissions. positioned oncology upcoming This address the design, regulatory without the optimization extensive to current aims drug dose and paradigm optimization important are patients development. dose in excited recent for the because approach selection of the which and in regulatory Certara dose finding provides with that toxicity well as well and oncology these Optimus changes

expert to invest team business and in our to in continue As worldwide. outlined add our strategy, the we

end the of in the attrition variety to due year, of For increase an factors. experienced we a

low Our attrition was XXXX. in fairly

normal getting pre-COVID. back levels of had now we that more we're experienced to So attrition

experts in the summary, double-digit advancing our year pleased culture choice ongoing including company In with we and the employees commitment attract XXXX on to and industry. and continue the talent hired prioritize in competitive We in delivering adoption employees, We adding more matter environment. acquiring performance XXXX, ended integrating innovation doctorate partnerships support XX. I'm making and in a software talent services, Certara to XXXX hiring in and customer XXX with Certara degrees. remain employer growth. to biosimulation leading and with to of scientists approximately We and growth focused the subject the continue top than Pinnacle the of top of

in over to CFO, regulatory business will execute While growth services in and in our our did to plan. this discuss am revenue more expectations, team I from Schemick confident meet momentum our quarter fourth bookings fourth Andrew Certara results the full-year detail. our financial turn quarter not strong. our to the our now remain I our and

Andrew Schemick

of months December XXst, William. was million, Hello, the Total everyone. for you, ended growth Thank $XX.X representing revenue three year-over-year XX%. XXXX

XX% Excluding X%. reported was represents Pinnacle was revenue 'XX revenue million, which growth. year-over-year fourth quarter $XXX.X growth Full-year XXXX

XX despite quarter. of line with plan, driven full-year revenue Pinnacle Excluding technology the the XX% long-term unexpected our fourth in performance services our grew in business

bookings and basis months XXXX at positioned approximately to Pinnacle well has on as a reported for at year. continue year predictor the Book-to-bill very ending in trailing XXXX our bookings percentage annual of XX% million, year-over-year excluding X.XX a for into are guidance up XX with been I We XX% $XXX.X forward look months XX stable up XX. revenue revenues. bookings the in of approximately supports trailing forward a as coming times months visibility XX and the at the

fourth Software prior revenue in million period. $XX.X over which the XX% the year quarter, was increased

in growth million excluding The XX%. revenue XX Phoenix. by Simcyp software $X.X Pinnacle Excluding software contribution, was quarter in was growth Pinnacle our driven biosimulation XX the and year-over-year

full-year, to XXXX. growth million, representing compared the revenue For software as $XX.X was XX%

Excluding Pinnacle XX% the Simcyp, Integral. revenue Phoenix for by full-year and was software XX year-over-year growth driven

software XX XX% contributed Software Pinnacle were year which in quarter, $X.X fourth the bookings increased prior fourth the $XX.X quarter. in from bookings period. to million million the

XX software software were over year-over-year growth XQ XX% $XX.X bookings. XXXX up XX%. Trailing software Pinnacle month excluding So XX was million, bookings bookings the

in XX% Services year quarter rate revenue $XX.X Software fourth and quarter, aggregate million the X% XXXX. for the renewal in which the prior XX% increased in full-year the was over fourth period. was

services mentioned quarter. weakness trials, due rates in to driven and driven utilization employee William towards delays services clinical regulatory lower technology closing projects in and the As of technology end was the relative impacting the services

same period For bookings services the XXXX. the $XXX.X XX% which looking revenue Services XX% were growth compared year, increased the in up of of to Technology the the was revenue full-year, million, for at last the prior and services over increased year. second from million, was were half which XX% $XXX.X period. driven XX% million, year-over-year representing bookings $XXX.X full-year fourth services $XX.X the quarter year as million,

million fourth P&L in the for compensation and $XX.X were sales results. quarter costs of decrease $X.X the decrease from million compensation, Total million, partially expenses XXXX, $XX.X primarily of components resulting $XX.X to primarily in decrease a million the by XXXX. XXXX for offset $X.X $X.X primarily The of operating $XX.X costs impact rate the the stock-based marketing and a due per $XX.X foreign million as employee-related compared net in million Intangible expense. million million fourth lower representing $XX.X increased compared interest to to million prior fourth R&D decrease XXXX. in million quarter tax asset due primarily million expense. the facilities. balance offset quarter quarter force acquired domestic to year to amortization fourth primarily intangible million quarter assets. $X.X from operations XXXX, compared the XXXX. $XX.X due resulting the $XX $X.X operating year. Continuing $X.X the lower for international million the for by fourth loss due of fourth fourth a to for of fourth compared of the million Income from further the $XX.X on stock-based the of million of quarter was $X.X P&L, quarter our in was Moving million quarter from of share $XX.X fourth fourth quarter due million of compared million, The compared to commercial XXXX was a fourth the a million XXXX the in slightly quarter in were $X.XX fourth growth. of to million quarter to revenue to an million to the the a was G&A of compensation fourth to due partially expense $X.X were of loss jurisdictions expenses and The items. last fourth R&D of headcount of of increases in $X.X $X.X a down non-deductible XXXX tax as was investments cost $XX.X in follows. income Sales the to down as in expenses the compensation of $XX.X compared quarter in was for higher stock-based million compared expenses and down the compared a $X.X quarter in EBITDA quarter was earnings the Depreciation XXXX. the well for growth. relative expense during million fourth decrease stock-based decrease XXXX. of XXXX fourth Total of Adjusted of average expense of XX% was due mix the for changes as to as compared were to principal expenses loss to million $X.X for expenses was $X.XX decrease quarter are million benefit employee-related in in quarter $XX.X was fourth Net XXXX, decrease for Diluted outstanding quarter expansion. XXXX for credit decrease impact to

for net Adjusted acquisition million compared $XX.X XXXX, XXXX a income fourth XXXX. million decrease the $XXX.X For was in the the to earnings full-year, XXXX. for quarter fourth Adjusted XXXX the fourth increase of of quarter of was X.X of EBITDA provision to XX% and adjusted was over for million, taxes compared for growth per representing due the diluted quarter $X.XX the $X.XX amortization. share income for to fourth quarter

Now of moving cash $XXX.X balance We and to million equivalents. the cash the quarter ended sheet. with

full availability borrowings had $XXX under and our loan credit term facility. of As we revolving XXXX, million outstanding of on XXst, net December our

guidance based COVID services what to We on are an earlier regulatory adjustment around making to our impacts our related transitory business. discussed William

$XXX from the range to the $XXX are EBITDA lowering $XXX end for end the top million million. the top and for from to lowering of $XXX revenue We million range million of

EBITDA Pinnacle million $XXX our to tax rate growth to XX% to to million. million to and bookings share our $X.XX Fully Thank excluding to EBITDA and in XX%. to XX% strong Revenue Adjusted in range range reflecting in of the range We end million XX% year-over-year are of and the $X.XX and our of the GAAP million, EPS strategic XX. per XX% cash to the $XXX to million. the XX% the of confidence financial which on of the in in of range XX% you. growth dedication ranges range delivering in of for maintaining continued XX% revenue growth represents low $XXX and $XXX plans. the $XXX the tax of $XXX rate in share per share. Adjusted range diluted in year-over-year

will open we open line Operator, line. Now up questions. for the you can the

Operator

Please Sergott from Luke go Barclays. [Operator show first Instructions] the comes our ahead. from question I of line

Luke Sergott

about given XQ bookings. that a into in of XQ. the guess guess kind flowed just then duration have, had I the the business the guys visibility I'm I down in of and And step through you it you to seeing are you of back business get throughout come talked just still better the a I'm trying weakness back some due dynamics? this wouldn't you Why Omicron. getting the wondering understanding year. to earlier,

William Feehery

the for question. the It January. into quarter. at suddenly quite continued the thanks Luke, Yes, end We fourth weakness of saw

it that like Although now. we are seems through

that fourth done us own to is then view was for time and have have booked we the one quarter. our us customers some gotten do is capacity have actually with our - of ready in two data to to our happen One saw things Omicron lengthening this the us between and regulatory bookings particularly work. when the other So due internal

the So to now. XXX guidance sense. months all considered year, know We for it's first things as what makes of our to look think we XXX forward the two we more

Luke Sergott

getting just that regulatory to to it's the is year do that We'll 'XX out pushed back. on a really the give business the early going of just stuff think that now and it this follow-up kind you or you're like because in it mean lost? - just not get the to was and I Yes is it to what's

William Feehery

particularly during off don't the lengthening data from any know, Andy, But a time is it to for of have the we've way seen this with I will two any if lose year. what far. number we got call of that to of kicks type the bookings, reverse we're It's see we database of the us. you possible, their on this. No, this we kind of lock, months it have which want work of comment so customers from from but really didn't

Andrew Schemick

view. That's my consistent with

Operator

of you. comes from the Please line go Thank show I next from William Kreger our Blair. question John ahead.

John Kreger

you of buckets. can that now other the remind you just would that. percent you've regulatory year, related those some on services us got in past if as categories the up is Maybe could opposed following have Andy, us revenue to another as the what's that give helpful? of Just that sort be your of you full main

Andrew Schemick

you software, revenues services, mix and XX% XX% year access regulatory of the for Thank Sure. this question. XX% was The terms services. in biosim

year. consistent shift So it's Slight fairly last biosim towards with mix services.

John Kreger

had should bit in and slower a be assume QX Got chunk through you. about that slowing thinking of we as And sort that surge push the assume momentum we of might even it. through given would or be then QX Thank be kind little you In into the move you sort carried Omicron words would other year? a January, of build QX elevated should QX. then the you as a of your would

Andrew Schemick

the some we not pickup, QX. view, to see incorporated far. so point together In putting January we've a seen given but and push into certainly our we're data guidance starting mid-February that the In of second

John Kreger

any lot biotech There's of to-date? it. of revenues remind you us pressure, And a this behavior Can a from sort are been anxiety kind the big in under of might of how having one clients them for same and of being about momentum. oriented change more, not you. you Got funding then from come be chunk smaller seeing biotech Thanks. Bill,

William Feehery

seen aware in that, a haven't our comments been it we've of Yes, but lot about business. of we

of So grew the funding couple of there our view quarters that business think in in funding. healthy of XXXX was quite after couple that a years came was in of quarter I through nicely biotech slowdown terms is bookings. even biotech biotech of And and fourth quite a our our

us. well-funded be companies And there's So get - interested a tighter funding bit that great lot efficient some think people becoming lot aspect out there's may biosimulation. just more are a a in when even there little of more of there customers then using I by of gets maybe for

John Kreger

number Great, thanks. you small give come roughly of from without then a what us And revenue about can biotechs sales? percent

Andrew Schemick

number, the but that a disclose the it's revenues, top from overall XX% company the of revenues don't percentage we small of Yes, XX. come

type more So of it's not small a healthy that's do biotech fraction. early a work stage having a some a we that customer, fraction, the major but significant success, becomes is given

Operator

I question the Please go of show Windley ahead. next our line from Dave you. comes from Jefferies. Thank

David Windley

Hi. Could you talk about your success.

the part give XX accounts Could You Pinnacle from the where what of your build freemium on you talked about outlook for I and on the strategy you to is was to could your that just see update an and free enterprise think us release stands conversion enterprise encourage customers. accounts what that?

William Feehery

as we have pipeline going successful the small of sort strong XX a Yes, the over and coming but thanks, next forward of FDA, out you're throughout Pinnacle David. know integrating fairway of performed getting right well. this We fourth in it's for We the of products is year they, terms of did going convert opportunities coming talking new and the some will a take out some over. freemium start some But some we filing and each in have months there I we some to Pinnacle is think what with converted selling customers things in new what we do stay each particularly have when other's strategy, quarter obviously biotech them of back then how becoming about be for come couple as of and in there start have of there terms other tuned, combination quarter to the is cross we'll XXXX as of, freemium and we base, with that the the a almost a customers. customer and down still had XX go acquisition. we expected

David Windley

are on a of clients you little for of to your towards another that that, John's smaller services, opposed mix us logical lean if you client But mid I that. at margin to think A a as a differences a margin services question versus your similar of those apples-to-apples than small to corollary more naturally apples-to-apples Could you bit larger client, going services service, clients services or or purchase. would version be it's pharma is pure clients. basis? there a thank Okay, biotech look lower client software be on

William Feehery

we So, want disclose this? to Andy, how do

Andrew Schemick

would it's I would can of Yes, I the efficiently. profitable - say that that in pharma bringing more company to for we're a for value projects large run biotech, biotech terms a small we the the

at So and Tier the a shifting X margins mix X. I versus in the the terms X don't Tier what look of versus from or XX see we from Tier top shift it

David Windley

Okay. sorry, And question, last then ahead. go

William Feehery

Thank Go you. David. No. ahead,

David Windley

mean colleagues just any was webinar pursue and and impact your for going I trying early oncology doses? those in Do and an over potentially listen FDA. to then products they influence triangulate or their customers Project How Optimus that have on in I stage this to your related maximum those have in on I on some your the way say thoughts to bookings the - to in work that changes put that result changes dose an other at optimal tolerable the you can on. dose day philosophy quickly escalation

William Feehery

day. had we about Yes, the FDA large the talking as quite other it webinar to encourage a has said already you and started this

projects We Optimus. related started to have already

in goes the half maybe drug industry. and the into pharma half mirror of that answer I with effort similar probably is we guess tend to R&D oncology Certara a our So is fraction of overall associated of that the because spending

customers that are moving starts are an increasing sorry, opportunity as but So over presents that for it Optimus customers those now. those implementing presents, us,

David Windley

you for new would that's And that not Okay. say view revenue something clients? those do that else you revenue cannibalizing as incremental

William Feehery

Yes, a of of as a focus and this long the one been we between us. spectrum end lot biosimulation opportunity revenue at oncology right. have customers new for optimizing a safety is and on time, dose efficacy see for the Look,

the then So they if maximum you going sort easier. dose to dosing give is know you're of the calculation tolerable

a quite services Now and are valuable it's I of complex for more a bit lot think our we our little this. software have in

So a for it it should should opportunity - - good a good company. it's the be

Operator

you. Thank

of next the Michael from question ahead. Our from Please line go of comes Ryskin Bank America.

Derrick Brown

about to Derrick I bit Hey, in little QX on of step-up QX in think should clarity you for I mean a Q-o-Q? given or step what is the Brown two quarters is down the more low mean, or similar flattish. something, like saying it's you're be from are It's Mike. that or flattish that we historically, revenues how expecting usually is looking up that, is a single-digit just

Andrew Schemick

We we're have like would I step say looking single-digit more low at - up.

Derrick Brown

relative that on and as Day? there Great. sort OpEx, you people that. we said you SG&A to the Thank like incorporate you. talked headcount need to retaining And at spend about of doing we what look Is any incremental Analyst spend spend, OpEx

Andrew Schemick

in our of invest infrastructure marketing organization, to invest sales We also efforts continue OpEx. continue in commercial terms in our to and our corporate we and

provided we However no difference Investor that for at the Day. assumptions the

Derrick Brown

just the Interest other it. And clean Got up. year? expense for some

Andrew Schemick

XXXX? for expense Interest

Derrick Brown

Yes, sir.

Andrew Schemick

million. $XX.X

Derrick Brown

one. It's other all in push being no the what you conservative one just you're just reiterating cancellations. and based just out at And see I year? upon you. thank Great, mean this point very

William Feehery

So we we the of - some bookings We December had the no really no We early quite see healthy had significant. actually did slowdown same QX. in We saw cancellations. and in January. had in that

we things picked like into up well. February that As have moved seems

Derrick Brown

you. Thank Great.

William Feehery

we and are significant any didn't business. lose healthy But these

Operator

Vikram next the our Baird. from I ahead. Please go of from show comes line Instructions] [Operator question Kesavabhotla

Vikram Kesavabhotla

comments taking the around for thanks the of Yes, questions. workforce. I some just follow-up to on wanted your

more if can expectations your hiring headcount focused from just around parts and mentioned wondering there going a and the geographies put you're 'XX year. in you growth Could year. increased the that think end so you attrition behind of then that drivers And was this I of guess perspective? you're just what on you business most on fiscal or the point finer seeing us color some on forward towards what I far give some dynamic I'm the a what maybe of

William Feehery

Yes, Vikram. thanks,

through of half half a we of some So and companies XXXX. in Like increased XXXX. in quite low XXXX of the first saw we the second lot saw through turnover turnover

it over though was historical at it even probably XXXX maybe average or you average. If than lower our

So on year. reaction I of have to it people the the in a maybe beginning a - hanging might been think delayed

to rate pay do turnover of something Our drug amazing always want place be to, attention because developers software innovative come developers is Certara a work. and a really lot and and some where we we

lot a probably of we've And it part so improve of the the gone year into pay rather. year will you we this know, do to seen first as attention seen, or first it, half we've of this. this We've

the question Andy second year. to of maybe budget I'll comment this the around For part for your ask

Andrew Schemick

So the that bookings. QX impact earlier had also some have we've referenced on we delays seen

healthy So at XX% around headcount this going we're in in and year looking our line by we're into the XXXX. with that year seeing bookings expanding billable

Vikram Kesavabhotla

you. could great. rates the Okay, biosimulation assumes revenue regulatory. but you Thank across clarify growth access fiscal if for then and this, apologize I guidance market missed And I what 'XX

just the appropriately. new some you components color different those sure I Investor on at want to range make the think gave I Day. Thanks. understand we

Andrew Schemick

Sure.

the and are similar high for be impact historically on difference In at the for delays greatest grow but terms regulatory it they low to being mid of regulatory. mid-teens would rates, the biosimulation The high rates, teens would teens, the growth side. the growth having to

Operator

the questions back call like for in showing this go over Please to Feehery, At CEO closing ahead. Mr. I'm remarks. William time to further no the turn queue. I'd you. Thank

William Feehery

much. Thanks very

everybody tonight. thanks joining us for So

as both that XXXX for good of very and leave with to quite of around as finished saw first think were at to had and company the our to seen, said the we that Omicron, timing of some of full We've we earlier, fundamentally the look Omicron picking I have I'd January, year delays an believe strength seems and year. is projects I continuation been February. lengthening with ameliorated some coupled message but things of I the regulatory temporary support went which is, bookings, we that healthy have the unfortunate up but we the a everybody into like in we part as

see have you slipped. and right overall through any we see we company we excited fundamentally feel we should they've is about quite The some healthy. stretched out terms healthy think But XXXX now we what an we our is on based future. market changes guidance go know, in haven't Our lost as and things The acceleration. work, of,

So wrap up joining to now you say thank and for everybody I'll us tonight.

Operator

This conference concludes today's for you. Thank Thank call. participating. you

You may disconnect. now day. Good

Certara (CERT) 2 Mar 222021 Q4 Earnings call transcript