CERT - Earnings call 3 2023

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Operator

Good day, and thank you for standing by. Welcome to the Certara Third Quarter 2023 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, David Deuchler.

David Deuchler

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

we Feehery, Chief Chief the Officer. call Officer; William Certara, from Gallagher, On Executive have and Financial John

Earlier is available quarter the the company's A today's results on of September copy release XX, XXXX. retire third press the website. financial released ended for

forward-looking that or differ that information, Please we statements, include materials statements. Before you and I implied materially statements X make actual company Investor find like would website. will begin, may Relations from which on forward-looking expressed those during in remind results Slide the to to management this can refer company's you call the in additional for

measures are on the Management recent additional the measures the information. or their release to remarks questions. available earnings in directly press Please non-GAAP for website. may reconciliation non-GAAP company responses GAAP comparable in tables financial mention the most financial the measures in to refer Reconciliations some company's to of these materials

call events conference as required over live Certara or except with to new statements, is obligation, contains whether or as X, any projections I law, the And future disclaims because only This to financial turn today and November revise information, call broadcast update by of or forward-looking XXXX. the otherwise. time-sensitive information any that, of accurate will William.

William Feehery

remarks, in bookings Quarter Thank software sequential the you, prepared David. we your Call. in and trends improvement overall then Earnings XXXX Third and quarter, services. business with for everyone. John will third Thank Certara's Good saw questions. with and and both afternoon, will joining Certara I start stabilization growth you In take

of quarter with third the a same compared in X% year the ago. revenue was $XX.X period company million Total

declined last quarter versus and Software X% $XX.X was year last and million $XX.X versus million revenue services year. revenue in was and XX% grew the

uncertainty the that several than we there to experience seen areas across portfolio, business near-term the Over more a continue than accustomed we stabilization activity are the past of have though to. we some are in months, are

software and continue indications We see all customers. strong to across services for our tiers biosimulation of of interest

well executing plan and commercial during quarter are We operational the on earnings second the call. outlined

is platform. revenue form beginning converting early some and the across to already to alignment commercial bookings Our with enterprise take leads

As we organization, services which best we of be to to broadly. operating efficiency implemented improvements make the practices, continue more can identify

towards remain We execution we focused are initial heading and goals encouraged the quarter and by fourth revised the progress on for consistent year, XXXX. into into our

were of impacted quarter booked Reported $XX.X growth Our in some quarter. represented certain million, be timing third booked second XXXX. the third quarter versus with by of the some renewals bookings to was and the growth fourth bookings quarter software the having X% which software in

software as also continue segment headwinds. Software tiers double size average our digits. bookings and rise, in to growth impacted deal a this, Tier was customer the customer result of macroeconomic Despite to all across continuing industry X at grow

software encouraged return instills to lot future performance. our are value biosimulation, the to a see continue recognition smaller with us delivered of by biopharma bookings confidence of companies. We we among which a And with broad growth in for

initial developed product our of part continued an Since software has business key XXXX, XX's acquisition and Throughout Certara's its Pinnacle make software strategy, XXXX, capabilities. become integral XX and expand development team we on has progress features Pinnacle to in have that upon initiatives. software

data SDTM offering, involved a XXXX, for helps and the in sources which introduced standardize Throughout organize multiple We've also Pinnacle using process the have introduced exchange data from preparation component of formatting, CDISC submission. their key customers we and data automation management standard. XX's data

Pinnacle existing offering XX will applications. to Looking additional ahead, we complement believe opportunities there our be to expand

on Simcyp with at scientific tailored progress biosimulation Simcyp software formulation scientists problems. A Certara's family. product We version development. aimed make We in of working This continue our releasing advancing specific biopharmaceutics, by strategy newest of biostimulation launched expanding specifically to to the tools biosimulation also addition continues at targeted

in invest capability start efforts. we existing development AI. acquired development to intelligence announced questions AI And throughout designed AI-enhanced in continue the a product our we and client-specific answer of we early developing to within GPs Earlier artificial to Additionally, Certara Vyasa our kick the platform this software year, to deploy October, in-depth is platform. drug process. availability Certara

over science is is proprietary databases, XX documents and deep it and algorithm research proprietary powerful it the model. learning library a a million data includes unique yielding using this AI used because assets life by Certara client's built of and

writing in our craft drafting populate studies, co-author. messaging is our intelligence author the is submissions. regulatory uses deliver regulatory aid One integration AI advance called The artificial of content, summarize submission. Co-Author the and which recent to product auto software, aid in to can

or Certara quickly. and efficiencies to either AI are of and has the time. writing Certara substantial AI BXXX Use drive developed technology examples VIASA and using enhanced Co-Author, co-author potential over relatively of products are documentation be that all

and, early excited in the we still about are customers. is bring products learning it the and very our turn, to days intelligence artificial in that Certara potential While can AI, machine

Shifting our services now technology-driven to segment.

X% third quarter Third XXXX. quarter compared bookings with totaled of the $XX.X growth million representing

second quarter, During stable strong bookings X our quarter Tier customers. performance. compared biopharma observed a signs customers the environment with third we more initial with We spending of among our delivered

low tiers year our prior customers In the in grew improved compared and the period. addition, with digits services double X bookings sequentially among

year. the in confident of slightly period our bookings tracking Following compared services efforts. of consolidation regulatory sequentially, internal made commercial the business, revised Certara's changes the operations will grew expectations and ahead same improved coordination our last improve are and being with we

improved performance We integration will pace performance. with remain months, ongoing help improve the driving coming the of believe in the biosimulation and over the we committed business services business our regulatory to

services. in biosimulation services of performed also value customers Broader broad substantial saw for And activity services steadily we Biosimulation improving. and expectations, line with our continue industry in to the our throughout demand quarter. our our is a customer in see offering pickup

on expert clients and projects. consultants Certara's bringing value board, for significant gain their our By efficiency

expect the adoption we the with our and demand software, drive to we our pleased As for see trajectory increased biosimulation business. of and momentum services, are of current we

ability our lowering to in execute by value on biosimulation. to Certara's confident differentiated to plan are long-term our costs drug we offering customers we a prioritized can provide provides be accelerating and close, in due in completion. to project growth To lines the platform continues that drive time to

remains future look to and position for the ahead we As best fourth focus beyond, our quarter execution ourselves driving to consistent growth. on

to now call financial John review results. over turn I our the to

John Gallagher

you, everyone. currency basis. Thank basis reported X% X a revenue months the XXXX, representing on growth flat on September constant year-over-year a XX, for of Hello, ended million, was $XX.X Total William. and

third quarter was the XX% over Pinnacle basis. Software third the revenue. quarter and and driven million biosimulation quarter, software a which and a for revenue in in software the XX% of basis on on increased year XX. prior Ratable . Growth by was currency $XX.X X% accounted constant period revenue reported subscription

with is performance with QX we quarterly are pleased which performance line in growing year-to-date in Our past expectations. and line the with software, seasonality, is in

million to Software X% XX-month software prior the in from which compared increased which year. the $XXX.X prior XX% third bookings year as bookings million, increased quarter, the were $XX.X were period. Trailing

rate and our The was quarter, XX% XXX%. retention third the was rate net software in renewal aggregate

and will on decreased a X% X% historical quarter, year constant decreased line renewal our was be that million the basis period Services revenue rates in on the basis. averages. with versus prior full company which retention reported in expect $XX.X to continue for and We a the year third currency

prior Services the $XX.X which increased year year. as from prior to Trailing which X% compared bookings bookings were X% quarter million the third XX-month in were decreased the million, services period. $XXX.X

of bookings XXXX, costs revenue Services as of of count have have the head in billable shown employee XXXX the Total for third quarter of $XX.X through million signs due million, was to increase to progressed $XX.X half. growth. primarily quarter improvement related third cost an we the back Biosemiservices from

expense, to a expanding $X.X and XXXX. employee The quarter marketing expenses operating software the expenses to earlier; were $XX.X XXXX. intangible were prior amortization R&D for goodwill XXXX; asset consideration due for due for costs compared and William products the to $XX.X AI for expenses up operating development $X.X million Sales year. the compared million an team; amortization of the was as were quarter sales primarily quarter including million, expenses the employee million This marketing XXXX. offerings, of expenses $X the to components related up to XXXX. million which million, million of the for cost million primarily primarily mentioned including is $X.X the in of to third $X.X million expense million $XXX.X were flat to the Total increase was third to increase Depreciation $XX.X compared third on to is and quarter million of expense $XX.X are expenses third were quarter due $XX quarter XXXX for $XX the acquisitions; of follows: contingent The product from million related impairment R&D increase was of to to G&A third new compared third

Interest Continuing our term down to of the the expense floating compared interest loan. to interest million quarter of million to XXXX $X.X due was third $X.X expense expense for relating P&L. higher rate

floating reminder, a plus fixed As roughly XXX. at debt our have we at LIBOR about X.XX% and XX% XX% of

$X.X XXXX. was third compared to for million Miscellaneous million of quarter $X.X income the

to of Net net an million third to $X.X tax loss the XXXX third to XXXX. the expense a $X.X income third compared million for have income of loss $XX the XXXX. $X.X million in a quarter of was due We quarter of compared reversal impairment quarter million for

quarter million $XX.X for XXXX. XXXX for Reported quarter to $XX.X million million for the third EBITDA compared XX% Adjusted third XXXX. net third compared was a the adjusted XX% of income in of adjusted Reported the decrease. the of EBITDA to was margin $XX.X quarter quarter $XX.X was XXXX, million third of

negative for $X.XX $X.XX the XXXX. quarter share last the quarter to Diluted the to per compared was year. Adjusted in third earnings $X.XX third third diluted per quarter of earnings quarter the of was XXXX for $X.XX third share in compared

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

our availability As and under our revolving we of borrowings term and facility. $XXX.X full September outstanding had of loan on million credit XXXX, XX,

our as we guidance of As we are approached end XXXX follows. the the year, reiterating

We and $XXX between revenue to year-over-year X%. X% total million growth million representing $XXX expect of

range adjusted $XXX EBITDA the in of expect We million to million. $XXX

range We of Fully the in rate million in EPS $X.XX of of XX% per to tax range expect diluted a the and shares to the share. million, $XXX XX%. to adjusted range $X.XX $XXX in

be bookings expect low to digits XXXX. as single We to XXXX compared down

closing turn now to William call will the over Feehery back I for remarks.

William Feehery

spending, our John. customer To summarize our message results. today, in seen a stabilization have Thank we in which is reflected you, quarter third

new core advance drivers the growth and that business. products are creating services remain and Our we will intact, further

as and The biosimulation compelling proposition as ever. and end-to-end of value products services Certara's remains

profitability We and as well positioned growth are global a over confident for is biosimulation. that in time leader Certara

line? open line now the can Operator, will you the questions. We for open

Operator

of line Inc. Garro the from comes question first Jeff with Our Instructions] [Operator Stephens

Jeffrey Garro

for one related the rate quarter? software some Tier hit maybe And wanted the First software I think the of in a on could and issues me, the deck, bit more side And about little to business. you the X customers on renewal just to comment timing. a talk see I the in

renewal in should and about SaaS rate versus mix how of context . curious that just the we the side. about the think software So on that also license

John Gallagher

Yes. Great. but then Jeff, ahead yes, at QX by aggregate QX. -- renewal into timing, some this impacted a The is some this on that. XX% and John. rate, it's take quarter. push It's Happy the pull into to

kind typically what XXs. too, that this We we of typically have -- the renewal as you guess we'd I So our history, we've look in a that, volatility quarter has aggregate before. the rate have so at do do is about seen say

And so year this shaping up is to that. QX for be

As to the QX, we return we rate into to renewal forward XX% expect the aggregate look

Jeffrey Garro

for I guys. I results and quarter. quarter ask hit the context comments services me, But about typically I think improving through of for strong seasonally and of things a hear very to Understood. in And want for on the end and about quarter you the market which then the want stabilizing bookings talk positive the the that more is of end side QX, bookings to booking to one and great services

to as quarter-over-quarter land QX, opportunity we the for the So right QX think the to about last had QX I wanted strong you bookings you also year-over-year how services expectations set give year? versus but versus

William Feehery

Will. is Great. This Thanks, Jeff.

point you did we in our a bookings have in services As recovery nice QX. out, and

of good to a hopefully very reorganization, team, which that I that sales lot sign to and I more is combined of . new that think some due our A force having execution of by is a think come.

pipeline we feel for the right in pretty QX we've customer I the mean had, -- good services. based about think feel we pretty conversations I in now deals on about good

the along pathway continue that before. guidance expect we guys we So to gave you

Operator

from Windley Our Jefferies. next line David . the question comes of with

David Windley

last the still in bookings. still I heard I think low in say, talked bookings John, services think confirm the happen decline having in wanted quarter, commentary, that, I you that. and amounts fourth had not you're context would you're that single-digit expecting regulatory to that the guidance that And typically quarter, time in assuming around. about you in that fall I I year-over-year often then some you think chunkier the of were

of confirmation So but kind color then services around looking total, the the traction. for also regulatory around some .

John Gallagher

Yes. Sure, Yes. David.

that expectation are single yes, booking So we on is contract confirming in low the digits. full the that the year

So we call. that's August what with said consistent the on

with as regulatory, the see strong were execution. we Specifically to that to pleased related we return And growth.

we on the and and it our that on call, have to the was bit really to there were our pencil we thanks that did matter that, pipeline that sharpened of pipeline team business focus there. job and a compete, visibility said price. So well the had execution to for August the a done we We for

But nothing still historic and within unusual from the price. norms

momentum and pleased return also Biosimservices in So coming there. we're off growth a in were Both with stabilization that pleased generated weak not a to regulatory, we QX, QX, in good only but of we with that. the

David Windley

I inflation wondered transition at you utilized your then how seeing I'm the question. or the what moment want little hiring and project your a outlook looks fully what is or kind on of with if individuals a at labor levels, lagged of staffing then of kind team and pace project of I bit. the labor currently? question what's Okay. from levels wondering services utilization labor utilization having billable to is was your -- bookings . project teams environment standpoint, what normal hiring the or and -- are to hiring market

John Gallagher

Yes.

our the business at is So utilization, look consistent as services we with expectations.

by overall, reason why So utilization project would in during and we we've line customer. of -- by in got our expectations is, any performing QX. with But it is and quarter, see course, varies the utilization that don't stop

From a that we the related bit not the hiring in, we're have for hiring generating the recognizing environment to a are but perspective, pockets slowed revenue that us.

of the relates to we we business the we've it space. other really headcount, have and as to So billable slowed so. to continued in continue do hire it nonbillable in pockets

David Windley

that way. maybe it. Got then in question different And I'll ask just a slightly

So of drivers better. gross a just was for it then little digging issue? little issue? Was the pressured it is business it guess rate understand was a trying lower I what a profit utilization bit. year-over-year. looking we that It I'm little were it than just margin but for, mix was to a of labor Was bit also I'm a a that. Was lower issue?

John Gallagher

fact said, in that, Right. the is you the Yes. we Yes. I had as It that X% lower, look, growth. quarter it mean, revenue was was the

short-term of that pockets is we our We of believe hire, certain don't we slowed prospects continuing that believe and right thing term but do. in a why we the and base remarks, fully that the cost mentioned That's invest restructure in That's business. continue heard focused, hiring, opportunity the are the in Will a mentioned, over to I the to the to we prepared you and remain growth intact. long

margin was from The investments, the And margin. off was those your the see the then so typical do a as of quarter, you result which, XX-plus. to point, little in XX% a

William Feehery

quarter, what that It during particularly a David, in -- utilization John also So bit said, I'll to -- add. regulatory. the changed to the

the our we And a of then as the picked bookings into bookings light were core recover, in out coming up. little So quarter. we QX, going

hit the beginning some in was of there costs quarter the too. with bit that associated And a that, little so

Operator

Our of next from with Mike question comes Bank Ryskin America.

Michael Ryskin

at cetera. stuff if and I the there bookings, the on touch activity, yes, in of early want remarks signs the et have to comments stabilization. about and at but prepared these off. one what Especially can make I some look you on call Or low pretty some does a And is the of was some that your to trends, timing little it's book-to-bill it too base. bit businesses lumpy, little can of improving be of as that? a improvement, getting coming quarter a mean off I'm early a is be there Stabilizing guess little just market the I a some sequential some we trend? slides said you bit

of gives it a the business usual in the what just So and just quarter-to-quarter, some this confidence that isn't real more turnaround. is you noise

William Feehery

Yes, Mike, question. thanks for the Will. It's

here. in hard turmoil level our space of quantify. that is markets in to of us affect some decreased activity some think some restructuring amount certainly some that there fair in that smaller and and I does fair, of probably end There's on going companies be biotech of going indications amount the a by larger the quite pharma on it's funding to

working So the we're market. that through part of

side, On as believe we continues very better. have are through a biosimulation, grow. which in to good the we, turmoil company, other that that I position a executing

some we and our around know, sales did a services our of you unification As business force. reorganization around

cover services clients. can products to and multiple the it So same

I we're traction peak can don't reached is or some peak efficiencies think we that out utilization transition of obtain, its good but that. getting fully that

I better there. has so think the And been execution

looked hard forward, our our conversations. we and at pipeline we As customer really look

-- it's this not So put we're put it an trend feeling you like the the point this isolated way quarter. is line way, it,

Michael Ryskin

spending that. could kind of just if a up And follow-up. on then to question now squeeze Dave's guess and like XQ in follow I on I things

I And quarter-to-quarter year and know point XQ it little percent often little in EBITDA worked we well have a you a a for some fluctuations. in came came sometimes EBITDA Just that, lower another be bit way, bit for. can margin the to lower. had put than again

just bit to out, EBITDA out? making especially beyond adjustments. it. anything about there's of make to a just sure kind adjustments, working that's in to little that some just I calling want of with sure worth trickier [indiscernible] quarter those onetime pass through there the the is call third It's unique nothing But

William Feehery

to may start some in let we're we're just we yes, and John me those about haven't and making that want chime investments. committed the Well, technologies, investments of excited cut very then I this one and would new But in. say

I referenced new lot of biosimulation. artificial in and launching also QSP and a intelligence, in we're products

believe in the invest this it. despite we continue the market, of health So turmoil the long-term and through to in we'll

a EBITDA margin reflection I So for of in there's that. bit our little think

in might And John, you want to chime too.

John Gallagher

Yes. as Yes, of some a to couple Like Mike, note. things in there's one-timers called you out, here.

-- if the keep to strip you in mind, and stock but So QX out QX. stock return you those in level comp adjust comp,

but -- or adjusted those saw are So in on sales is way it strip of basis, with find if G&A and you you marketing, QX. you and expenses, an all be QX QX what R&D sales a whether on basis, percent what consistent that

the So there to . is strip quick call when away answer really nothing out adjustments. there's you the

Operator

next from question Blair. Our William Max of comes Smock

Max Smock

start bookings your than and with software on weaker the total by quarter drilling in quarter-over-quarter, services but a to little we bit better. commentary line just I expected were off a prior down more. wanted know in bookings was being I about flat

stay from for stable next about are you in being I if 'XX. what Or for thinking and reaffirmed math So for assuming year. And another all your here, things that each segment you single terms software . this know how just bookings down bookings But mean of for bookings does at year? way, in the in services wondering maybe growth QX? changed guidance has digits put low bookings

William Feehery

Yes. Right.

QX. growth. you a dynamics got earlier, software I to some push year-to-date quarter, listen, bookings But trailing overall, mentioned for when effect pull-ahead are software double-digit QX on bookings bookings some and look we've software XX-month as So The in software basis, had XX%. the into the the related

are all indicators So business. software the strength for those of

going As to it this relates to call. not next on year, we're guidance Obviously, give

is one. we've execution. the got focus to on on But thought the will there We next

and We firmly in You intact, see QX. biosimulation can you in that results. our in the saw believe opportunity that is

some drive we're from got working then And changes through And we've will well. backlog that made some then standpoint, as that acceleration. we've an organizational a

spells together, those of we 'XX. all So think into growth

Max Smock

assessing to I That's you projects, mentioned in existing Okay. talked with sticking backlog services. hear. good quarter, of 'XX about you guess and backlog. the your actively Last particularly

By you could this you revenue much you you can services how And if have of wondering do convert the of the that the currently? XXXX. backlog share how your context from in assessment. provide of backlog services takeaways any feel And confident some end Just over. just to around much here

William Feehery

the news be as our the quarter. more to Max, to is Yes. meatful services is and we saw at QX grew convert predominantly what that on but forward, great, the to the you you -- we decline the when good that quarter, going which services than was saw look ability was what bookings. year-on-year, that a we happening front bookings in due Yes. look on in revenue Because that's

So we of the as going been be move aid we to as that reversal the is have year. we we've and saw next move we be bookings confidence in into the posting able we us QX to QX then converting and dynamic in saw which forward that we'll that

Max Smock

uptick have that the going -- still a backlog the that booked vast matter the just when -- think ends to maybe to analysis services that over terms or clear matter of had stuff you majority guess, is And least of of revenue up have that what of and right, you rate, in to of like or seen everything an cancellation that we you terms at about if sorry, back of should in being backlog, you converting relative in of in point? not if I expected -- a more your still of at be last some part years actually just couple more

William Feehery

Right. Yes.

had material cancellations. not have a We

particularly and when customers. that slowness So from maintain our you the the still perspective Tier at look we it's X a delay,

we we that back. Certainly, saw so of And come some average deal saw cut.

Tier Xs in at growing digits. Xs double sizes we services So bookings for example, in Tier we deal and performance were quarter, when for see the average looked both the

look positive sign forward. we that's So as a

delays in numbers. getting not in and see continue to see we some We're some cancellations, but you the conversion, and reflected really in what slowness that's do the QX

Operator

Our comes next from Vrunwink. Joe question

Joseph Vruwink

everyone. Hi, Great.

think in I members. a you've past, October renewals Simcyp with for and years is guess I a still questions. that's engaging the big just consortium normally few through mentioned month

One, you what did bookings. see software for

maybe that about in much I'm hand. is follow-up of wondering a but already And XQ, I You're how then have talking question.

William Feehery

Yes.

So the that P&L we coming what seeing QX we're out That's momentum in is on what revenue where the the we're gives of confidence guidance keep bookings consistent. and had to is us October the impact and at. down

So at of what that's ranges. prompted part as are we with us guidance where to we October, look the stay

Joseph Vruwink

might well just wondering then their just of of And Great. the if anything coming planning of thinking organizations year. Obviously, caliber early you kind are around any members. you typically shoots kind consortium in know I'm whole calendar what green terms of your for maybe next change. the can worse these planning But budget And or is that things that the that makes are from process. always Obviously, or impressions, takeaways type of of XXXX. up into be? feel better entering what

William Feehery

lot Will. question. the is This Yes. Thanks a for

be break So as healthy. continues would say for numbers, the out but you quite know, Simcyp I Simcyp's demand we that don't to

customers to are of then version users make of use We have potentially can our versions X and the called enabling recently, Biopharmaceuticals, of more Simcyp. Simcyp discovery number which new expand launched who since a good

consists in time but then is a and get are company. not These biggest seeing fourth some in where we year. out underlying and of to and go can feeling biosimulation the us giving I in this. growth continuation it's there. -- further mostly about launch your most to consortium question, go the and next active into think we're positive quarter customers the -- that's, we things them of that I Simcyp They do so the that of The think, activity entirely from take what as some And their expect kind

Operator

Our Purohit Morgan question Instructions] line the Stanley. comes from from [Operator Vikram next

proceed. You may now .

Vikram Purohit

this question? hear you [indiscernible]. my Sorry, did Sorry,

left, with are lower one could quarter what So that at lead year-end point your the bound scenarios to this think or of guidance? you upper the

John Gallagher

way to The things about John. be the to it's that to accelerated lowest yes, need a end. of would at is number Vikram, be think

be don't at business. momentum a range, in see need see we to low as well of that. the that And in services the of we guidance very saw we deceleration to reversal the to be So software the business our as would clear, end

of so leave that's and a you here. need the to would the couple to that moment. But to there's end happen the So reason left seeing in lower And months we're that's get -- room to what not obviously, the at place. that's

it's be the of to already We acceleration we've really opposite at that of the that. end, high fronts the need versus had out To of momentum see each QX. in those coming

that $XXX.X guidance this end. reiterated that's we to the million, push higher on wanted But clear, is would to to call. It's what reiterate So be us there we the guidance. obviously and midpoint the

William Feehery

to is long John's those point, but data to how have one particularly our of don't of we've about take in it, interest, lot be Right? other products, some close. can customer AI, pushed that we I to we're past finding And into a about thing be honest add deals as newer to

get to some take close into and so long deal And a as that haven't before. about we them there's uncertainty we does sold customers bought pretty just we it for that how haven't new the -- technology something before, is

field. exciting very a it's -- it's So

predict. it's ourselves think based to harder but their and of good recognition room on just some there in future, the I newness, sort that are those . we've left

Operator

at no this showing time. further questions I'm

for it now to back to remarks. Terry like William I'd So turn closing

William Feehery

All right.

you, everybody, tonight. joining thank for So us

we a adjusting experiencing second executing kind and in some as pharmaceutical that. of turmoil out were stabilization this in Just and we summarize market, is to we we're I'm of Obviously, of proud into We're quite company bookings where how quarter. that we the pleased quarter. see went quarter, coming how in the the the saw through

that's believe term. relatively short that, That said, we

things about like We have really in the where really, we're in excited artificial that's And the firm opportunity continue doing to and taking the intelligence a as and biosimulation in where it. future. belief us very that's in we what going expand we're run add to and long

to those with in So much, and to forward invest future, to growth We're lead in speaking evening. you next we're those. quarter. looking of very and expecting you all Thank the to continuing we're good

Operator

all now you you conclude the does and today's your This conference. Thank disconnect. for program, may in participation

Certara (CERT) 8 Nov 232023 Q3 Earnings call transcript