SLP

MKT CAP:$295M

Simulations Plus, Inc.

Market Cap

$295M

Healthcare·Medical - Healthcare Information Services·🇺🇸 United States·NASDAQ

Healthcare·Medical·🇺🇸·NASDAQ

Stock Price

$15.19-$2.92 (-16.12%)

Apr 22, 2026

Company Details

Simulations Plus, Inc. develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. It operates throu...

CEO

Shawn O'Connor

IPO Date

Jun 18, 1997

Website

www.simulations-plus.com

Key Metrics TTM

Revenue

$81M

+2.5% YoY

Net Income

-$63M

EPS (Diluted)

-$3.13

Free Cash Flow

$24M

Revenue / Share

$3.98

Gross Margin

62.0%

Operating Margin

-83.5%

Net Margin

-78.0%

FCF Margin

29.5%

P/S

3.7x

P/E

—

Earnings Reports

Q2 2026

Apr 10, 2026

$24M+8.3%EPS $0.22

Q1 2026

Jan 9, 2026

$18M-2.7%EPS $0.03

FY 2025

Dec 1, 2025

$79M+13.1%EPS -$3.22

Q4 2025

Dec 1, 2025

$17M-6.5%EPS -$0.03

Q3 2025

Jul 15, 2025

$20M+9.8%EPS -$3.35

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$15M	$12M	$5M
Q4 22	$12M	$9M	$694.0K
Q1 23	$12M	$9M	$878.0K
Q2 23	$16M	$13M	$4M
Q3 23	$16M	$13M	$4M
Q4 23	$16M	$12M	-$284.0K
Q1 24	$15M	$10M	$960.0K
Q2 24	$18M	$13M	$4M
Q3 24	$19M	$13M	$2M
Q4 24	$19M	$7M	-$1M
Q1 25	$19M	$10M	$126.0K
Q2 25	$22M	$13M	$3M
Q3 25	$20M	$13M	-$74M
Q4 25	$17M	$10M	$659.0K
Q1 26	$18M	$11M	$713.0K
Q2 26	$24M	$16M	$6M

Valuation

Quarter	P/S	P/E
Q3 22	19.3x	84.7x
Q4 22	23.0x	99.3x
Q1 23	15.1x	75.3x
Q2 23	14.0x	72.8x
Q3 23	16.9x	90.6x
Q4 23	15.3x	91.5x
Q1 24	12.6x	73.7x
Q2 24	13.0x	80.1x
Q3 24	13.8x	95.6x
Q4 24	10.6x	74.6x
Q1 25	8.6x	77.7x
Q2 25	7.3x	79.0x
Q3 25	6.6x	—
Q4 25	3.6x	—
Q1 26	4.4x	—
Q2 26	3.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$4M	$3M
Q4 22	$8M	$7M
Q1 23	$5M	$4M
Q2 23	$6M	$5M
Q3 23	$9M	$7M
Q4 23	$3M	$2M
Q1 24	$162.0K	-$936.0K
Q2 24	$6M	$4M
Q3 24	$6M	$5M
Q4 24	$2M	$941.0K
Q1 25	-$1M	-$1M
Q2 25	$6M	$6M
Q3 25	$8M	$8M
Q4 25	$6M	$5M
Q1 26	$4M	$4M
Q2 26	$6M	$6M

Capital Expenditures

Quarter	CapEx
Q3 22	$789.0K
Q4 22	$964.0K
Q1 23	$1M
Q2 23	$1M
Q3 23	$1M
Q4 23	$947.0K
Q1 24	$1M
Q2 24	$2M
Q3 24	$959.0K
Q4 24	$723.0K
Q1 25	$86.0K
Q2 25	$66.0K
Q3 25	$297.0K
Q4 25	$264.0K
Q1 26	$0
Q2 26	$46.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+17.1%	+21.6%
Q4 22	+19.2%	+14.2%
Q1 23	-3.6%	+28.5%
Q2 23	+6.4%	+25.8%
Q3 23	+8.5%	+21.2%
Q4 23	+33.2%	+44.1%
Q1 24	+21.2%	+22.1%
Q2 24	+16.2%	+18.3%
Q3 24	+14.2%	+37.3%
Q4 24	+19.4%	+24.5%
Q1 25	+30.5%	+38.8%
Q2 25	+22.5%	+42.2%
Q3 25	+9.8%	+467.6%
Q4 25	-6.5%	-15.2%
Q1 26	-2.7%	-5.8%
Q2 26	+8.3%	-5.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$766.0K	5.1%
Q4 22	$758.0K	6.5%
Q1 23	$1M	8.7%
Q2 23	$1M	8.0%
Q3 23	$1M	7.7%
Q4 23	$1M	8.2%
Q1 24	$1M	9.4%
Q2 24	$2M	9.8%
Q3 24	$2M	9.0%
Q4 24	$2M	8.6%
Q1 25	$2M	9.1%
Q2 25	$2M	7.5%
Q3 25	$1M	6.9%
Q4 25	$2M	8.7%
Q1 26	$2M	8.8%
Q2 26	$2M	6.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q3 22	$655.0K	—	—	$7M
Q4 22	$769.0K	—	—	$8M
Q1 23	$1M	$6M	$1M	—
Q2 23	$1M	$6M	$2M	—
Q3 23	$945.0K	$7M	$2M	—
Q4 23	$1M	—	—	$11M
Q1 24	$1M	$6M	$2M	—
Q2 24	$1M	$6M	$2M	—
Q3 24	$1M	$8M	$2M	—
Q4 24	$2M	$3M	$3M	—
Q1 25	$2M	$5M	$3M	—
Q2 25	$2M	$5M	$4M	—
Q3 25	$1M	$6M	$3M	—
Q4 25	$2M	$5M	$3M	—
Q1 26	$3M	$4M	$3M	—
Q2 26	$3M	$4M	$3M	—

Revenue Segments

Quarter	Services Segment	Software Segment	Services	Software	License and Maintenance	Service
Q3 22	$5M	$10M	—	—	—	—
Q1 23	—	—	$6M	$6M	—	—
Q2 23	—	—	$5M	$10M	—	—
Q3 23	—	—	$6M	$11M	—	—
Q4 23	—	—	$6M	$9M	—	—
Q1 24	—	—	$7M	$8M	—	—
Q2 24	—	—	$7M	$12M	—	—
Q3 24	—	—	—	—	$12M	$7M
Q1 25	—	—	—	—	$11M	$8M
Q2 25	—	—	—	—	$13M	$9M
Q3 25	—	—	—	—	$13M	$8M
Q4 25	—	—	—	—	$9M	$8M
Q1 26	—	—	—	—	$9M	$10M
Q2 26	—	—	—	—	$15M	$10M

Revenue by Geography

Quarter	Asia	Emea	North And South America	Europe
Q3 22	$2M	$2M	$11M	—
Q4 22	$2M	$2M	$8M	—
Q1 23	$1M	$2M	$9M	—
Q2 23	$2M	$4M	$11M	—
Q3 23	$2M	$3M	$11M	—
Q4 23	$2M	$3M	$11M	—
Q1 24	$1M	$2M	$11M	—
Q2 24	$1M	$5M	$12M	—
Q3 24	$2M	$5M	$12M	—
Q4 24	$1M	$3M	$15M	—
Q1 25	$2M	$3M	$14M	—
Q2 25	$2M	$5M	$16M	—
Q3 25	$2M	—	$15M	$4M
Q4 25	$2M	—	$13M	$3M
Q1 26	$2M	—	$13M	$3M
Q2 26	$2M	—	$17M	$6M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$42M	$80M	$122M
Q4 22	$52M	$77M	$128M
Q1 23	$49M	$82M	$132M
Q2 23	$39M	$76M	$115M
Q3 23	$55M	$67M	$122M
Q4 23	$58M	$58M	$115M
Q1 24	$40M	$74M	$114M
Q2 24	$37M	$71M	$109M
Q3 24	$109M	$10M	$119M
Q4 24	$10M	$10M	$20M
Q1 25	$6M	$12M	$18M
Q2 25	$11M	$10M	$21M
Q3 25	$27M	$2M	$28M
Q4 25	$31M	$2M	$32M
Q1 26	$30M	$6M	$36M
Q2 26	$26M	$16M	$42M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	21M	+0.1%	-0.2%
Q4 22	21M	+0.2%	+0.2%
Q1 23	21M	+0.1%	+0.4%
Q2 23	21M	-1.4%	-1.0%
Q3 23	20M	-0.8%	-2.0%
Q4 23	20M	-2.0%	-4.2%
Q1 24	20M	+1.7%	-2.6%
Q2 24	20M	+0.2%	-1.0%
Q3 24	20M	+0.6%	+0.4%
Q4 24	20M	-1.9%	+0.6%
Q1 25	20M	+1.1%	-0.1%
Q2 25	20M	+0.1%	-0.2%
Q3 25	20M	-0.8%	-1.6%
Q4 25	20M	+0.1%	+0.4%
Q1 26	20M	+0.4%	-0.2%
Q2 26	20M	+0.1%	-0.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$102.5K	146
Q4 22	$72.0K	163
Q1 23	$73.4K	163
Q2 23	$96.6K	163
Q3 23	$99.6K	163
Q4 23	$79.3K	197
Q1 24	$73.6K	197
Q2 24	$92.9K	197
Q3 24	$94.1K	197
Q4 24	$75.6K	247
Q1 25	$76.6K	247
Q2 25	$90.8K	247
Q3 25	$82.4K	247
Q4 25	$82.0K	213
Q1 26	$86.5K	213
Q2 26	$114.0K	213

Revenue / Employee