Certara, Inc. ( (CERT) ) has released its Q3 earnings. Here is a breakdown of the information Certara, Inc. presented to its investors.
Certara, Inc., a leader in model-informed drug development, leverages biosimulation software and services to accelerate the creation of new medicines for biopharmaceutical companies, academic institutions, and regulatory agencies worldwide.
The financial results for the third quarter of 2024 indicate positive growth for Certara, with an 11% increase in revenue compared to the same period in 2023. The company has updated its full-year financial guidance, suggesting an optimistic outlook for the remaining months of the fiscal year.
Key highlights from the report include software revenue growth of 15% and services revenue growth of 9%, contributing to a total revenue of $94.8 million. The net loss narrowed significantly to $1.4 million from $49.0 million in the previous year, primarily due to a substantial decrease in goodwill impairment expenses. The adjusted EBITDA also saw a 15% increase, reaching $33.1 million for the quarter.
Certara’s strategic focus on enhancing its biosimulation platform, following the Chemaxon transaction, is evident in the strong performance of its software segment, particularly biosimulation software and Pinnacle 21. However, the services sector experienced mixed results, with biosimulation services growing by 13% but offset by a weaker performance in regulatory services.
Looking ahead, Certara remains focused on optimizing its expense structure to support demand for core biosimulation offerings. The company anticipates full-year revenue to range between $380 million and $385 million, signaling confidence in its strategic initiatives and market positioning.
