Full-Year Revenue Growth
Total revenue for FY2025 was $418.8M, up 9% year-over-year (8% constant currency), showing continued top-line expansion for the year.
Quarterly Software Strength
Software revenue in Q4 was $46.4M, up 10% year-over-year (reported and constant currency). Full-year software revenue was $183.3M, up 18% (reported), demonstrating strong software demand.
Bookings Momentum
Total bookings in Q4 were $155.2M, up 7% year-over-year; trailing 12-month bookings were $482.1M, up 8%, indicating healthy pipeline and contract activity over the trailing year.
MIDD and Services Growth
Technology-driven services bookings in Q4 increased 17% year-over-year; MIDD services bookings saw double-digit growth in the quarter and grew 8% for the full year, reflecting accelerating adoption of model-informed drug development use cases.
Adjusted EBITDA Improvement (Full Year)
Adjusted EBITDA for FY2025 was $134.5M (margin 32%), up from $122M in the prior year, demonstrating improved full-year operating profitability despite Q4 softness.
High Software Net Retention
Software net retention remained healthy at 107% in Q4 and 105% for the full year, indicating strong revenue retention and expansion within the installed base.
Balance Sheet and Capital Actions
Ended the quarter with $189.4M in cash, full availability on the revolving facility, and executed share repurchases of ~3.3M shares for $43M during 2025.
Strategic Direction and AI/Product Initiatives
New CEO outlined three strategic priorities (focused portfolio, customer-centricity, operational improvements) and plans to accelerate AI integration (examples include CertaraIQ and AI-driven Phoenix modules). Management also identified approximately $10M of 2026 cost avoidance opportunities.