Certara, Inc. (NASDAQ:CERT) Q2 2024 Earnings Conference Call August 6, 2024 5:00 PM ET

Company Participants

David Deuchler - Investor Relations, Gilmartin Group LLC
William Feehery - Chief Executive Officer
John Gallagher - Chief Financial Officer

Conference Call Participants

Jeff Garro - Stephens
David Windley - Jefferies
Dan Clark - Leerink Partners
Joe Vruwink - Baird
Steve Dechert - KeyBanc

Operator

Good day and thank you for standing by. Welcome to the Certara Second Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your first speaker today, David Deuchler, Head of Investor Relations. Go ahead.

David Deuchler

Good afternoon, everyone. Thank you all for participating in today's conference call. On the call from Certara, we have William Feehery, Chief Executive Officer; John Gallagher, Chief Financial Officer. Earlier today, Certara released financial results for the quarter ended June 30, 2024. A copy of the press release is available on the company's website.

Before we begin, I would like to remind you that management will make statements during this call that include forward-looking statements and actual results may differ materially from those expressed or implied in the forward-looking statements. Please refer to slide 2 in the accompanying materials for additional information, which you can find on the company's Investor Relations website.

In their remarks or responses to questions, management may mention some non-GAAP financial measures. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP measures are available on the recent earnings press release available on the company's website. Please refer to the reconciliation tables in the company materials for additional information.

This conference call contains time-sensitive information and is accurate only as of the live broadcast today, August 6, 2024.Certara disclaims any obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events or otherwise.

With that, I'll turn the call over to William.

William Feehery

Thank you, David, and good afternoon, everyone. Thank you for joining Certara's second quarter earnings call. John and I will begin with prepared remarks, and then we will take your questions.

Certara's second quarter performance reflects continued strength in software and made a more challenging environment in services. We have found that the pace of recovery in the market demand has been relatively mixed. There are positive signs among some biotechs, especially those in the clinical stage, but we see continued caution in the spending patterns of some Tier 1 clients. This has affected our business segments in different ways.