Simulations Plus, Inc. (SLP) Earnings
Simulations Plus, Inc. is expected to report next earnings on July 13, 2026 (in NaN days), with a consensus EPS estimate of $0.23. SLP has beaten EPS estimates in 4 of its last 12 reported quarters (average surprise +18.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 9, 2026 | $0.27 | $0.35 | +29.6% | $24M | +12.2% |
| Jan 8, 2026 | $0.18 | $0.13 | -27.8% | $18M | -15.9% |
| Dec 1, 2025 | $0.10 | $0.10 | +0.0% | $17M | +0.4% |
| Jul 14, 2025 | $0.26 | $0.45 | +73.1% | $20M | -2.7% |
| Apr 3, 2025 | $0.25 | $0.31 | +24.0% | $22M | +2.3% |
| Jan 7, 2025 | $0.18 | $0.17 | -5.6% | $19M | +0.6% |
| Oct 23, 2024 | $0.07 | $0.06 | -9.1% | $19M | -5.5% |
| Jul 2, 2024 | $0.15 | $0.15 | +0.0% | $19M | -6.4% |
| Apr 3, 2024 | $0.19 | $0.20 | +5.3% | $18M | +5.9% |
| Jan 3, 2024 | $0.10 | $0.10 | +0.0% | $15M | +4.2% |
| Oct 25, 2023 | $0.18 | $0.18 | +0.0% | $16M | -7.0% |
| Jul 6, 2023 | $0.20 | $0.20 | +0.0% | $16M | -3.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · April 9, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Exceeded top line guidance, with revenue of $24.3 million in Q2, adjusted EBITDA of $8.7 million (36% margin), and adjusted diluted EPS of 35 cents. - Encouraging macro environment with ongoing most favored nation pricing agreements, easing tariff concerns, and supportive funding for customers. Regulatory NAMs guidance was clarified. - AI-related competitive concerns weighed on valuations, but AI is seen as net positive for biosimulation, with the company being an early adopter and embedding AI across product roadmap. - Announced strategic collaboration programs with three large pharmaceutical companies to advance AI workflows. - Assessing software renewal rates and reorganizing sales team to regional account-based model. - Services backlog increased 18% to $24 million. - Effective tax rate for fiscal 2026 expected to be between 23% - 25% vs previous 12% - 14%.
Guidance
- Total revenue for fiscal 2026 between $79 - $82 million, year-over-year growth 0 - 4%. - Software mix 57 - 62%. - Adjusted EBITDA margin 26 - 30%. - Adjusted diluted EPS expected to range 75 cents - 85 cents. - Third quarter 2026 revenue anticipated $20 - $22 million, adjusted EBITDA margin 27% - 33%, adjusted diluted EPS $0.20 - $0.27.
Segment performance
Second quarter revenue was $24.3 million. Software revenue increased 9% to represent 60% of total revenue, with discovery revenue (e.g., AdMet Predictor) up 19% for the quarter and 6% for trailing 12 months (19% of total software revenue in the quarter), development revenue (e.g., GastroPlus and Monolix Suite) up 12% for the quarter and 3% for trailing 12 months (78% of total software revenue for both quarter and trailing 12 months), and clinical operations revenue (primarily from proficiency) down 54% for the quarter and 58% for trailing 12 months (3% of total software revenue for both). Services revenue increased 8% to represent 40% of total revenue, with development services (biosimulation) up 12% for the quarter and down 3% for trailing 12 months (77% of total services revenue), and commercialization services (MedCom services) down 1% for the quarter and up 66% for trailing 12 months (23% of total services revenue). Total gross margin was 66%, with software gross margin 89% and services gross margin 33%.
Risks & headwinds
- Macro environment and pharma-related scenarios could be fragile, affecting business. - AI-related competitive concerns initially weighed on valuations. - Software renewal rates have seen churn, particularly with certain commercial pharma and pre-commercial biotech, related to episodic vs recurring demand and challenging early stage biopharma market. - Effective tax rate change and related items could impact financials. - External announcements and macro issues can affect the business.
Analyst Q&A
Q: Dive into the three large pharma collaborations, how they work, contract details, cross-selling.
A: Collaborations have been underway, focus on matching AI development to pharma needs, financial components in discussion.
Q: New logos, are they new customers or competitive conversions?
A: New logos are non-existing customers taking down solutions for the first time, some may be moving from competitive scenarios.
Q: Sequential uptick in commercial services backlog, proficiency pipeline, seasonality.
A: Backlog driven by service revenue, proficiency performance has stabilized, reasonable growth expected.
Q: Upsell opportunities, where is the biggest opportunity?
A: Opportunity exists at all levels, from single to multiple product customers, driven by organizational and product roadmap changes.
Q: Mid-year relative to initial guide, conservatism.
A: Operating in fragile environment, cautious approach, momentum building but not taking up guide yet.
Q: Momentum from macro vs NAMs.
A: Broad-based momentum, support from regulatory and client AI investment shifts.
Q: Cross-sell beyond modeling department.
A: Proficiency acquisition opened reach into clinical trial budgets, AI budgets in clients offer new opportunities.
Q: AI monetization timing.
A: Discussions ongoing, recognition of value there, mechanics of monetization in discussion, not significant in fiscal 2026, likely contributor in fiscal 2027.
Q: Large AI companies as clients.
A: Historical revenue from some AI companies, discovery platform AdMet Predictor and scientific engines like GastroPlus and Monolix are of value.
Q: Services metrics, projects vs backlog.
A: Projects can ebb and flow, backlog growth is good measure of pipeline.
Q: Software segment breakdown shifts.
A: Development solutions like Monolix and GastroPlus are key, Monolix could grow faster in percentage growth.