Simulations Plus Inc Financials
This page shows Simulations Plus Inc (SLP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue kept growing, but lower-margin work and a non-cash asset reset now define the reported economics.
FY2025 produced-$64.7M of net income but still$18.1M of operating cash flow. At the same time, goodwill fell from$96.1M to$43.7M , so the loss looks much more like a balance-sheet revaluation than a cash drain from daily operations.
From FY2023 to FY2025, revenue rose from
Capex was only
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Simulations Plus Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Simulations Plus Inc has an operating margin of -89.3%, meaning the company retains $-89 of operating profit per $100 of revenue. This below-average margin results in a low score of 10/100, suggesting thin profitability after operating expenses. This is down from 8.8% the prior year.
Simulations Plus Inc's revenue grew 13.1% year-over-year to $79.2M, a solid pace of expansion. This earns a growth score of 76/100.
Simulations Plus Inc carries a low D/E ratio of 0.06, meaning only $0.06 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 84/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 7.67, Simulations Plus Inc holds $7.67 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 95/100.
Simulations Plus Inc converts 22.0% of revenue into free cash flow ($17.4M). This strong cash generation earns a score of 90/100.
Simulations Plus Inc generates a -51.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is down from 5.5% the prior year.
Simulations Plus Inc scores 30.07, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($370.9M) relative to total liabilities ($7.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Simulations Plus Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Simulations Plus Inc generates $-0.28 in operating cash flow ($18.1M OCF vs -$64.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Simulations Plus Inc generated $79.2M in revenue in fiscal year 2025. This represents an increase of 13.1% from the prior year.
Simulations Plus Inc's EBITDA was -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 630.0% from the prior year.
Simulations Plus Inc reported -$64.7M in net income in fiscal year 2025. This represents a decrease of 750.2% from the prior year.
Simulations Plus Inc earned $-3.22 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 757.1% from the prior year.
Cash & Balance Sheet
Simulations Plus Inc generated $17.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 36.5% from the prior year.
Simulations Plus Inc held $30.9M in cash against $0 in long-term debt as of fiscal year 2025.
Simulations Plus Inc had 20M shares outstanding in fiscal year 2025. This represents an increase of 0.4% from the prior year.
Margins & Returns
Simulations Plus Inc's gross margin was 58.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 3.2 percentage points from the prior year.
Simulations Plus Inc's operating margin was -89.3% in fiscal year 2025, reflecting core business profitability. This is down 98.1 percentage points from the prior year.
Simulations Plus Inc's net profit margin was -81.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 96.0 percentage points from the prior year.
Simulations Plus Inc's ROE was -51.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 57.3 percentage points from the prior year.
Capital Allocation
Simulations Plus Inc invested $6.9M in research and development in fiscal year 2025. This represents an increase of 19.6% from the prior year.
Simulations Plus Inc spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Simulations Plus Inc invested $713K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 26.0% from the prior year.
SLP Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $21.9M-9.9% | $24.3M+31.9% | $18.4M+5.5% | $17.5M-14.3% | $20.4M-9.2% | $22.4M+18.5% | $18.9M+1.4% | $18.7M |
| Cost of Revenue | $6.8M-17.0% | $8.1M+8.2% | $7.5M-1.1% | $7.6M+3.9% | $7.3M-21.2% | $9.3M+6.9% | $8.7M-26.5% | $11.8M |
| Gross Profit | $15.1M-6.3% | $16.1M+48.2% | $10.9M+10.6% | $9.8M-24.5% | $13.0M-0.7% | $13.1M+28.5% | $10.2M+49.7% | $6.8M |
| R&D Expenses | $3.4M-1.8% | $3.5M+16.4% | $3.0M+77.7% | $1.7M+37.9% | $1.2M-43.3% | $2.1M+16.0% | $1.8M-4.0% | $1.9M |
| SG&A Expenses | $4.7M+13.9% | $4.1M+2.3% | $4.0M-17.2% | $4.9M-21.0% | $6.1M+34.8% | $4.6M-15.5% | $5.4M+55.3% | $3.5M |
| Operating Income | $4.5M-20.1% | $5.6M+689.6% | $713K+8.2% | $659K+100.9% | -$74.2M-2836.9% | $2.7M+2052.4% | $126K+110.9% | -$1.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $1.2M-8.9% | $1.4M+359.5% | $294K-81.3% | $1.6M+123.3% | -$6.7M-1650.0% | $434K+578.1% | $64K+220.0% | $20K |
| Net Income | $3.6M-21.2% | $4.5M+570.9% | $676K+199.3% | -$681K+99.0% | -$67.3M-2289.9% | $3.1M+1392.2% | $206K-75.6% | $843K |
| EPS (Diluted) | $0.18-18.2% | $0.22+633.3% | $0.03 | N/A | $-3.35-2333.3% | $0.15+1400.0% | $0.01 | N/A |
SLP Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $153.0M+4.4% | $146.5M+6.3% | $137.8M+4.5% | $131.9M-1.8% | $134.4M-33.3% | $201.4M+2.3% | $196.9M+0.1% | $196.6M |
| Current Assets | $75.1M+11.2% | $67.6M+16.2% | $58.1M+12.8% | $51.5M-0.4% | $51.8M+10.8% | $46.7M+15.6% | $40.4M+2.7% | $39.3M |
| Cash & Equivalents | $35.3M+37.3% | $25.7M-14.8% | $30.2M-2.2% | $30.9M+14.5% | $26.9M+145.2% | $11.0M+77.7% | $6.2M-40.0% | $10.3M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $17.2M-5.3% | $18.2M+49.5% | $12.2M+25.1% | $9.7M-34.3% | $14.8M-10.4% | $16.5M+28.8% | $12.8M+40.1% | $9.1M |
| Goodwill | $43.7M0.0% | $43.7M0.0% | $43.7M0.0% | $43.7M+0.5% | $43.5M-54.8% | $96.3M0.0% | $96.3M+0.2% | $96.1M |
| Total Liabilities | $13.9M+9.7% | $12.7M+18.6% | $10.7M+50.2% | $7.1M-32.6% | $10.6M-10.9% | $11.9M-2.8% | $12.2M-14.0% | $14.2M |
| Current Liabilities | $13.6M+9.9% | $12.3M+19.4% | $10.3M+53.8% | $6.7M-33.6% | $10.1M-5.3% | $10.7M+9.8% | $9.7M-19.3% | $12.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $139.0M+3.9% | $133.8M+5.2% | $127.1M+1.9% | $124.8M+0.8% | $123.8M-34.7% | $189.5M+2.6% | $184.7M+1.2% | $182.4M |
| Retained Earnings | -$25.6M+12.3% | -$29.2M+13.5% | -$33.7M+2.0% | -$34.4M-2.0% | -$33.7M-200.1% | $33.6M+10.1% | $30.6M+0.7% | $30.4M |
SLP Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $8.7M+35.8% | $6.4M+51.4% | $4.2M-24.2% | $5.6M-31.4% | $8.1M+43.7% | $5.7M+545.0% | -$1.3M-176.6% | $1.7M |
| Capital Expenditures | $93K+102.2% | $46K | $0-100.0% | $264K-11.1% | $297K+350.0% | $66K-23.3% | $86K+437.5% | $16K |
| Free Cash Flow | $8.6M+35.3% | $6.4M+50.4% | $4.2M-20.5% | $5.3M-32.2% | $7.8M+40.0% | $5.6M+512.0% | -$1.4M-182.5% | $1.6M |
| Investing Cash Flow | $878K+107.7% | -$11.3M-131.6% | -$4.9M-173.6% | -$1.8M-122.9% | $7.8M+1041.4% | $684K+121.8% | -$3.1M+96.8% | -$99.5M |
| Financing Cash Flow | $10K-97.9% | $474K+23600.0% | $2K-98.1% | $107K+1428.6% | $7K+100.5% | -$1.5M-637.5% | $288K+130.5% | -$945K |
| Dividends Paid | N/A | N/A | N/A | $1.2M+0.2% | $1.2M+0.2% | $1.2M | $0-100.0% | $1.2M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
SLP Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.1%+2.7pp | 66.5%+7.3pp | 59.1%+2.7pp | 56.4%-7.6pp | 64.0%+5.5pp | 58.5%+4.5pp | 54.0%+17.4pp | 36.6% |
| Operating Margin | 20.6%-2.6pp | 23.2%+19.3pp | 3.9%+0.1pp | 3.8%+368.3pp | -364.5%-376.6pp | 12.1%+11.4pp | 0.7%+6.8pp | -6.2% |
| Net Margin | 16.3%-2.3pp | 18.7%+15.0pp | 3.7%+7.6pp | -3.9%+326.7pp | -330.6%-344.3pp | 13.7%+12.6pp | 1.1%-3.4pp | 4.5% |
| Return on Equity | 2.6%-0.8pp | 3.4%+2.9pp | 0.5%+1.1pp | -0.5%+53.8pp | -54.4%-56.0pp | 1.6%+1.5pp | 0.1%-0.3pp | 0.5% |
| Return on Assets | 2.3%-0.8pp | 3.1%+2.6pp | 0.5%+1.0pp | -0.5%+49.6pp | -50.1%-51.6pp | 1.5%+1.4pp | 0.1%-0.3pp | 0.4% |
| Current Ratio | 5.54+0.1 | 5.47-0.1 | 5.62-2.0 | 7.67+2.6 | 5.11+0.7 | 4.37+0.2 | 4.15+0.9 | 3.26 |
| Debt-to-Equity | 0.100.0 | 0.10+0.0 | 0.08+0.0 | 0.06-0.0 | 0.09+0.0 | 0.060.0 | 0.07-0.0 | 0.08 |
| FCF Margin | 39.4%+13.2pp | 26.2%+3.2pp | 23.0%-7.5pp | 30.5%-8.1pp | 38.5%+13.6pp | 25.0%+32.2pp | -7.2%-16.0pp | 8.8% |
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Frequently Asked Questions
What is Simulations Plus Inc's annual revenue?
Simulations Plus Inc (SLP) reported $79.2M in total revenue for fiscal year 2025. This represents a 13.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Simulations Plus Inc's revenue growing?
Simulations Plus Inc (SLP) revenue grew by 13.1% year-over-year, from $70.0M to $79.2M in fiscal year 2025.
Is Simulations Plus Inc profitable?
No, Simulations Plus Inc (SLP) reported a net income of -$64.7M in fiscal year 2025, with a net profit margin of -81.7%.
What is Simulations Plus Inc's EBITDA?
Simulations Plus Inc (SLP) had EBITDA of -$62.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Simulations Plus Inc's gross margin?
Simulations Plus Inc (SLP) had a gross margin of 58.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Simulations Plus Inc's operating margin?
Simulations Plus Inc (SLP) had an operating margin of -89.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Simulations Plus Inc's net profit margin?
Simulations Plus Inc (SLP) had a net profit margin of -81.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Simulations Plus Inc's return on equity (ROE)?
Simulations Plus Inc (SLP) has a return on equity of -51.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Simulations Plus Inc's free cash flow?
Simulations Plus Inc (SLP) generated $17.4M in free cash flow during fiscal year 2025. This represents a 36.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Simulations Plus Inc's operating cash flow?
Simulations Plus Inc (SLP) generated $18.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Simulations Plus Inc's total assets?
Simulations Plus Inc (SLP) had $131.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Simulations Plus Inc's capital expenditures?
Simulations Plus Inc (SLP) invested $713K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Simulations Plus Inc spend on research and development?
Simulations Plus Inc (SLP) invested $6.9M in research and development during fiscal year 2025.
What is Simulations Plus Inc's current ratio?
Simulations Plus Inc (SLP) had a current ratio of 7.67 as of fiscal year 2025, which is generally considered healthy.
What is Simulations Plus Inc's debt-to-equity ratio?
Simulations Plus Inc (SLP) had a debt-to-equity ratio of 0.06 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Simulations Plus Inc's return on assets (ROA)?
Simulations Plus Inc (SLP) had a return on assets of -49.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Simulations Plus Inc's Altman Z-Score?
Simulations Plus Inc (SLP) has an Altman Z-Score of 30.07, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Simulations Plus Inc's Piotroski F-Score?
Simulations Plus Inc (SLP) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Simulations Plus Inc's earnings high quality?
Simulations Plus Inc (SLP) has an earnings quality ratio of -0.28x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Simulations Plus Inc?
Simulations Plus Inc (SLP) scores 61 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.