Simulations Plus, Inc. (NASDAQ:SLP) Q1 2023 Earnings Conference Call January 4, 2023 5:00 PM ET
Company Participants
Brian Siegel - Hayden IR
Shawn O'Connor - Chief Executive Officer
Will Frederick - Chief Financial Officer
Conference Call Participants
Matt Hewitt - Craig-Hallum
Dane Leone - Raymond James
François Brisebois - Oppenheimer
Mitra Ramgopal - Sidoti
Operator
Greetings, and welcome to the Simulations Plus First Quarter Fiscal 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Brian Siegel, from Hayden IR. Thank you. Mr. Siegel, you may begin.
Brian Siegel
Good afternoon, everyone. Welcome to our first quarter fiscal 2023 financial results conference call. With me today is our CEO, Shawn O'Connor; and CFO, Will Frederick. After their portion of the call, we will open the floor to questions.
Before we begin, I want to remind everyone that except for historical information, the matters discussed in this presentation are forward-looking statements that involve a number of risks and uncertainties. Words like believe, expect and anticipate mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place. So our actual future results could differ significantly from those statements.
Factors that could cause or contribute to such differences include, but are not limited to, our ability to maintain our competitive advantages, acceptance of new software and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, our ability to identify and close acquisitions on terms favorable to the Company, market conditions, our ability to identify and enter into a definitive agreement with a broker to administer the share repurchase program authorized by our Board in a sustainable market.
Further information on our risk factors is contained in our quarterly and annual reports and filed with the U.S. Securities and Exchange Commission.
With that said, I would like to turn the call over to Shawn O'Connor. Shawn?
Shawn O'Connor
Thank you, Brian. Happy New Year, everyone, and thank you for joining us on our first quarter conference call. This afternoon, we reported first quarter results in line with our fiscal '23 guidance for both revenue and profitability. First quarter revenue was approximately $12 million, down about 4% year-over-year and in line with the expected changes in seasonality we discussed on our last earnings call.