American software company based in Lancaster, founded in 19961
Simulations Plus, Inc. develops absorption, distribution, metabolism, excretion, and toxicity (ADMET) modeling and simulation software for the pharmaceutical and biotechnology, industrial chemicals, cosmetics, food ingredients, and herbicide industries. In September 2014, the company acquired Cognigen Corporation, a provider of clinical trial data analysis and consulting services.3 It was founded by Walter Woltosz.1 Its shares trade on Nasdaq under the symbol SLP.1Wikipedia text CC BY-SA 4.0
Simulations Plus, Inc. develops absorption, distribution, metabolism, excretion, and toxicity (ADMET) modeling and simulation software for the pharmaceutical and biotechnology, industrial chemicals, cosmetics, food ingredients, and herbicide industries. In September 2014, the company acquired Cognigen Corporation, a provider of clinical trial data analysis and consulting services.3
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Revenue78910115$79.2M in 2025+167% since 2018Gross profit78910115$46.2M in 2025+113% since 2018Operating income78910115-$70.7M in 2025Net income78910115-$64.7M in 2025
Revenue1213$21.9M in Q3 FY2026−10% since Q2 FY2026Gross profit1213$15.1M in Q3 FY2026−6% since Q2 FY2026Operating income1213$4.5M in Q3 FY2026−20% since Q2 FY2026Net income1213$3.6M in Q3 FY2026+429% since Q2 FY2025
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
Period ending
2025-08-31
2024-08-31
2023-08-31
Revenues
$79.2M
$70.0M
$59.6M
Total cost of revenues
$33.0M
$26.9M
$11.6M
Gross profit
$46.2M
$43.2M
$47.9M
Research and development
$6.9M
$5.8M
$4.5M
Sales and marketing
$11.9M
$8.9M
$6.6M
General and administrative
$20.9M
$22.4M
$27.7M
Impairments
$77.2M
$0
$500.0K
Total operating expenses
$117.0M
$37.0M
$39.2M
(Loss) income from operations
-$70.7M
$6.1M
$8.7M
Other income, net
$1.4M
$6.3M
$3.0M
(Loss) income before income taxes
-$69.4M
$12.4M
$11.7M
Income tax benefit (expense)
$4.7M
-$2.5M
-$1.7M
Net (loss) income
-$64.7M
$10.0M
$10.0M
Basic (in usd per share)
-$3.22
$0.50
$0.50
Diluted (in usd per share)
-$3.22
$0.49
$0.49
Basic (in shares)
20.1M shares
20.0M shares
20.1M shares
Diluted (in shares)
20.1M shares
20.3M shares
20.5M shares
Foreign currency translation adjustments
-$24.0K
-$105.0K
$167.0K
Unrealized gains (losses) on available-for-sale securities
$4.0K
-$5.0K
$0
Comprehensive (loss) income
-$64.7M
$9.8M
$10.1M
No quarter-by-quarter statement was filed.
Total assets1478910115$131.9M in 2025+205% since 2018Total liabilities1478910115$7.1M in 2025−37% since 2018Shareholders’ equity789105$124.8M in 2025+291% since 2018Cash8910115$30.9M in 2025+228% since 2018
Total assets1213$153.0M in Q3 FY2026+4% since Q2 FY2026Total liabilities1213$13.9M in Q3 FY2026+10% since Q2 FY2026Shareholders’ equity1213$139.0M in Q3 FY2026+9% since Q2 FY2025Cash1213$35.3M in Q3 FY2026+37% since Q2 FY2026
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
Period ending
2025-08-31
2024-08-31
2023-08-31
2022-08-31
Cash and cash equivalents
$30.9M
$10.3M
Accounts receivable, net of allowance for credit losses of $187 and $149
$9.7M
$9.1M
Prepaid income taxes
$1.8M
$2.2M
Prepaid expenses and other current assets
$7.7M
$7.8M
Short-term investments
$1.5M
$9.9M
Total current assets
$51.5M
$39.3M
Capitalized computer software development costs, net of accumulated amortization of $21,863 and $18,727
$11.1M
$12.5M
Property and equipment, net
$880.0K
$812.0K
Operating lease right-of-use assets
$407.0K
$1.0M
Goodwill
$43.7M
$96.1M
Deferred tax assets, net
$4.8M
$0
Other assets
$1.4M
$542.0K
Total assets
$131.9M
$196.6M
Accounts payable
$470.0K
$602.0K
Accrued compensation
$2.0M
$4.5M
Accrued expenses
$1.3M
$2.0M
Contracts payable - current portion
$0
$2.4M
Operating lease liability - current portion
$206.0K
$475.0K
Deferred revenue
$2.7M
$2.0M
Total current liabilities
$6.7M
$12.1M
Net deferred tax assets (liabilities)
$0
$1.6M
Operating lease liability - net of current portion
$410.0K
$531.0K
Total liabilities
$7.1M
$14.2M
Preferred stock, $0.001 par value 10,000,000 shares authorized; no shares issued and outstanding
$0
$0
Common stock, $0.001 par value; 50,000,000 shares authorized, 20,137,480 and 20,051,134 shares issued and outstanding
$20.0K
$20.0K
Additional paid-in capital
$159.4M
$152.3M
(Accumulated deficit) retained earnings
-$34.4M
$30.4M
Accumulated other comprehensive loss
-$271.0K
-$251.0K
Total shareholders' equity
$124.8M
$182.4M
$170.0M
$178.2M
Total liabilities and shareholders' equity
$131.9M
$196.6M
Accounts receivable, allowance for credit loss, current
Preferred stock, par or stated value per share (in usd per share)
$0.00
$0.00
Preferred stock, shares authorized (in shares)
10.0M shares
10.0M shares
Preferred stock, shares issued (in shares)
0 shares
0 shares
Preferred stock, shares outstanding (in shares)
0 shares
0 shares
Common stock, par or stated value per share (in usd per share)
$0.00
$0.00
Common stock, shares authorized (in shares)
50.0M shares
50.0M shares
Common stock, shares, issued (in shares)
20.1M shares
20.1M shares
Common stock, shares, outstanding (in shares)
20.1M shares
20.1M shares
Cash from operations78910115$18.1M in 2025+95% since 2018Capital spending78910115$713.0K in 2025+289% since 2018Free cash flow78910115$17.4M in 2025+91% since 2018Dividends paid78910115$0 in 2025Share buybacks10115$0 in 2025
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
Period ending
2025-08-31
2024-08-31
2023-08-31
Net (loss) income
-$64.7M
$10.0M
$10.0M
Depreciation and amortization
$8.2M
$5.7M
$3.8M
Change in fair value of contingent consideration
-$640.0K
-$1.6M
$680.0K
Discharge of holdback obligation related to Immunetrics acquisition
-$224.0K
$0
$0
Amortization of investment discounts
-$64.0K
-$1.1M
-$1.1M
Stock-based compensation
$6.4M
$6.5M
$4.8M
Deferred income taxes
-$5.4M
-$1.8M
-$2.1M
Loss from disposal of assets
$23.0K
$0
$6.0K
Impairments
$77.2M
$0
$500.0K
Currency translation adjustments
-$25.0K
-$105.0K
$167.0K
Accounts receivable
-$581.0K
$3.1M
$4.1M
Prepaid income taxes
$420.0K
-$1.4M
$587.0K
Prepaid expenses and other assets
$194.0K
-$2.1M
-$501.0K
Accounts payable
-$132.0K
-$477.0K
-$81.0K
Other liabilities
-$3.2M
-$768.0K
$832.0K
Accrued income taxes
$0
$0
-$7.0K
Deferred revenue
$700.0K
-$2.6M
$176.0K
Net cash provided by operating activities
$18.1M
$13.3M
$21.9M
Purchases of property and equipment
-$713.0K
-$566.0K
-$453.0K
Purchase of short-term investments
-$6.5M
-$67.2M
-$95.0M
Proceeds from maturities of short-term investments
$14.0M
$71.1M
$114.9M
Proceeds from sales of investments
$995.0K
$45.2M
$0
Issuance of promissory note
-$1.0M
$0
$0
Purchased intangibles
-$379.0K
-$541.0K
-$601.0K
Business acquisition, net of cash acquired
$0
-$98.8M
-$8.2M
Net working capital & excess cash settlement - Pro-ficiency acquisition
-$227.0K
$0
$0
Capitalized computer software development costs
-$2.6M
-$3.2M
-$3.2M
Net cash used in investing activities
$3.6M
-$54.0M
$7.4M
Payment of dividends
$0
-$4.8M
-$4.8M
Payments on contracts payable
-$1.6M
-$2.5M
$0
Proceeds from the exercise of stock options
$430.0K
$731.0K
$1.5M
Repurchase and retirement of common shares
$0
$0
-$20.0M
Net cash used in financing activities
-$1.1M
-$6.6M
-$23.3M
Net increase (decrease) in cash and cash equivalents
$20.5M
-$47.2M
$6.0M
Income taxes paid
$1.2M
$5.7M
$3.2M
Measurement period adjustments (See Note 2)
$956.0K
$0
$0
Creation of contract liabilities from acquisition of subsidiaries
Simulations Plus sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Simulations Plus
First Eagle Investment Management, LLC Filed SCHEDULE 13G on Simulations Plus, latest Aug 6, 2026
VANGUARD GROUP INC Filed SCHEDULE 13G/A on Simulations Plus, latest Mar 27, 2026 (6 filings since Feb 10, 2022)
First Light Asset Management, LLC Filed SCHEDULE 13G on Simulations Plus, latest Feb 6, 2026
BlackRockFiled SCHEDULE 13G/A on Simulations Plus, latest Oct 2, 2025
Conestoga Capital Advisors, LLC Filed SCHEDULE 13G on Simulations Plus, latest Jan 10, 2025 (4 filings since Jan 10, 2022)
Neuberger BermanFiled SC 13G/A on Simulations Plus, latest Aug 8, 2024 (4 filings since Feb 11, 2022)
Simulations PlusSacramento, California, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Simulations Plus reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
The Company was previously headquartered in Southern California; however, in support of the Company's remote work culture and plan to reduce excess office space to achieve its carbon footprint reduction targets, the Company fully exited four office locations in Lancaster, California; Raleigh, North Carolina; Buffalo, New York; and Pittsburgh, Pennsylvania. As a result, the company moved its headquarters from Lancaster, California, to Research Triangle Park, North Carolina, and also maintains a European office in Paris, France. We do not believe that any of the physical properties that we lease are material to our business.
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
370 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 58 major events, 210 insider forms, 21 large holders, 61 other. The latest 20:
89 open-market trades by officers, directors and large owners since October 2021: 0 buys and 89 sales. Grants, option exercises and gifts are left out.
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
From the cover page of the 10-K filed Dec 1, 2025 (Section 12(b) of the Exchange Act).16
Risk factors and legal proceedings
The risks Simulations Plus names in Item 1A of its 10-K filed Dec 1, 2025: 49 risks under these headings, as written.16
Certain Risks Related to Our Marketplace and Environment
Our ability to sustain or increase revenues will depend upon our success in entering new markets, continuing to increase our client base, and in deriving additional revenues from our existing clients.
A decrease in, or resistance to, the acceptance of model-informed drug development and development by regulatory authorities or academic institutions could damage our reputation or reduce the demand for our products and services.
Increasing competition and increasing costs within the pharmaceutical and biotechnology industries, drug development and services industry, and the life science market for modeling and simulation software and cheminformatics products may affect the demand for our products and services, which may affect our results of operations and financial condition.
Health care reform and restrictions on reimbursement may affect the pharmaceutical, biotechnology, and industrial chemical companies that purchase or license our products or services, which may affect our results of operations and financial condition.
We face strong competition in the life science market for modeling and simulation software and for cheminformatics products.
We are subject to price pressures in the markets we serve.
Our insurance coverage may not be sufficient to avoid material impact on our financial position or results of operations resulting from claims or liabilities against us, and we may not be able to obtain insurance coverage in the future.
Any negative commentaries made by any regulatory agencies or any failure by us to comply with applicable regulations and related guidance could harm our reputation and operating results, and compliance with new regulations and guidance may result in additional costs.
Our sales cycle is lengthy, and clients may delay entering into contracts or decide not to adopt our products or solutions after we have expended significant time and resources and supported evaluation by them of our technology, which could result in delays in recognizing revenue and negatively impact our results of operations.
Many of our contracts are fixed price and may be delayed or terminated or reduced in scope for reasons beyond our control, or we may underprice or overrun cost estimates with these contracts, potentially resulting in financial losses.
Impairment of goodwill or intangible assets may adversely impact future results of operations.
The other 37 risks
Certain Risks Related to Our Operations
Delays in the release of new or enhanced products or services or undetected errors in our products or services may result in increased cost to us, delayed market acceptance of our products, and delayed or lost revenue.
We are subject to various risks associated with the operation of a global business.
Changes in applicable U.S. and international tax laws or regulations and the resolution of tax disputes could negatively affect our financial results.
Contract research services create a risk of liability.
The drug discovery and development industry has a history of patent and other intellectual property litigation, involvement in intellectual property lawsuits is often very costly.
We may not be able to successfully develop and market new services and products.
We depend on key personnel and may not be able to retain these employees or recruit additional qualified personnel, which could harm our business.
If we are not successful in selecting and integrating the businesses and technologies we acquire, or in managing our current and future divestitures, our business may suffer.
Our quarterly and annual operating results fluctuate and may continue to fluctuate in the future, and if we fail to meet the expectations of analysts or investors, our stock price and the value of your investment could decline substantially.
We conduct business outside the U.S., which exposes us to foreign currency exchange rate risk, amongst other risk, and could have a negative impact on our financial results.
A significant portion of our operating expenses are relatively fixed and planned expenditures are based in part on expectations regarding future revenues.
If our clients cancel their contracts or terminate or delay their clinical trials, we may lose or delay revenues and our business may be adversely impacted.
If our security is breached, our business could be disrupted, our operating results could be harmed, and clients could be deterred from using our products and services.
Changes in and/or failure to comply with applicable data privacy laws, regulations, and interpretations of such laws and regulations could materially adversely affect our reputation, market position, or our business and financial performance.
We rely upon a single internal hosting facility and Amazon Web Services to deliver certain solutions to our clients and any disruption of or interference with our hosting systems, operations, or use of the Amazon Web Services could harm our business and results of operations.
We rely on third-party cloud infrastructure and related services to deliver and operate our software platforms, and any disruption, limitation, or change in these cloud services could adversely affect our business, financial condition, and
results of operations.
Defects or errors in our software applications could harm our reputation, result in significant cost to us and impair our ability to market our solutions.
If we are not able to reliably meet our data storage and management requirements, or if we experience any failure or interruption in the delivery of our services over the Internet, client satisfaction and our reputation could be harmed, and client contracts may be terminated.
Some of our software solutions and services utilize open-source software, and any failure to comply with the terms of one or more of these open-source licenses could adversely affect our business.
We may be unable to adequately enforce or defend our ownership and use of our intellectual property and other proprietary rights.
Current and future litigation against us, which may arise in the ordinary course of our business, could be costly and time-consuming to defend.
We could incur substantial costs resulting from product liability claims relating to our products or services or our clients’ use of our products or services.
Our business depends on the clinical trial market, and a downturn in this market could cause our revenues to decrease.
As a public company, we are obligated to maintain proper and effective internal control over financial reporting. As our business expands both organically and through acquisitions, we may be unable to effectively adapt our current systems to our changing business needs and may fail to develop and maintain an effective system of disclosure controls and internal control over financial reporting which could impair our ability to produce timely and accurate financial statements or comply with applicable laws and regulations.
Certain Risks Related to Ownership of Our Common Stock
We have discontinued the quarterly dividends on shares of our common stock and do not expect to pay any cash dividends for the foreseeable future.
If our operating and financial performance in any given period does not meet any guidance that we provide to the public, the market price of our common stock may decline.
The price of our common stock may be volatile, and our shareholders may not be able to resell shares of our common stock at or above the price they paid.
If securities or industry analysts issue an adverse or misleading opinion regarding our stock, our stock price and trading volume could decline.
We may raise capital through the issuance of our common stock, convertible debt, or equity-linked securities, which could result in dilution to our shareholders or a negative impact on the price of our common stock.
We cannot guarantee that our share repurchase program will be fully consummated or that it will enhance long-term
shareholder value, and share repurchases could increase the volatility of the price of our common stock.
Risks Relating to Artificial Intelligence and Machine Learning
The use of AI in our products and services may result in reputational harm and competitive harm.
Our use of artificial intelligence and machine learning may result in legal and regulatory risks.
Risks Relating to Government Regulation
We receive government assistance in the form of cash grants. The interruption of or termination or failure to fund one or more of these grants, or other actions taken by Department of Government Efficiency (“DOGE”) could have an adverse impact on our business, financial condition, results of operations and cash flows.
Risk Relating to a Federal Government Shutdown
Changes in government regulation, funding or in practices relating to the pharmaceutical or biotechnology industries, including potential health care reform, could decrease the need for the services we provide.
Legal proceedings
We may become subject to litigation, claims, investigations, and audits arising from time to time in the ordinary course of our business. Management believes that there is no pending or threatened litigation to which the Company and any of its subsidiaries, or any of the Company or its subsidiaries’ properties, is the subject of or party to, which, individually or in the aggregate, would have a material adverse effect on our business, results of operations, financial condition and/or cash flows.