Simulations Plus, Inc. (NASDAQ:SLP) Q3 2024 Earnings Conference Call July 2, 2024 5:00 PM ET
Company Participants
Lisa Fortuna - Investor Relations, Financial Profiles
Shawn O'Connor - Chief Executive Officer
Will Frederick - Chief Financial Officer & Chief Operating Officer
Conference Call Participants
Christine Rains - William Blair
François Brisebois - Oppenheimer & Company
Matt Hewitt - Craig-Hallum
David Larsen - BTIG
Operator
Greetings, and welcome to the Simulations Plus Third Quarter Fiscal 2024 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 call is being recorded.
It is now my pleasure to introduce Lisa Fortuna from Financial Profiles. Ms. Fortuna, you may begin.
Lisa Fortuna
Good afternoon, everyone. Welcome to the Simulations Plus third quarter fiscal 2024 financial results conference call.
With me today are Shawn O'Connor, Chief Executive Officer; and Will Frederick, Chief Financial Officer and Chief Operating Officer of Simulations Plus.
Please note that we updated our quarterly earnings presentation, which will serve as a supplement to today's prepared remarks. You can access the presentation on our investor relations website at www.simulations-plus.com. After management's commentary, we will open the call for questions.
As a reminder, the information discussed today may include forward-looking statements that involve risks and uncertainties. Words like believe, expect, and anticipates refer to our best estimates as of this call, and actual future results could differ significantly from these statements. Further information on the company's risk factors is contained in the company's quarterly and annual reports and filed with the Securities and Exchange Commission.
With that, I'll turn the call over to Shawn O'Connor. Please go ahead.
Shawn O'Connor
Thank you, Lisa. Good afternoon, everyone, and thank you for joining our third quarter fiscal 2024 conference call.
Results for the third quarter of fiscal 2024 were in line with our internal guidance. Strong performance in both our Software and Services segments delivered solid revenue growth of 14%, diluted earnings per share of $0.15, and adjusted diluted earnings per share of $0.19. Given our solid performance in the first nine months and the acquisition of Pro-ficiency, we are on track to achieve our recently revised full-year revenue guidance.
As we noted last quarter, the market funding environment continues to improve over last year. Biotech funding is starting to show signs of recovery, most notably for companies that have drug candidates in the clinic. We continue to be cautiously optimistic about our large pharmaceutical client spending. Right now, we see a range of spending patterns among large pharmaceutical companies; some are increasing its expenditures, others remain conservative, and with most falling somewhere in between depending on various internal and external market factors. Overall, the market is better positioned today compared to a year ago.