Q3 2024 Certara Inc Earnings Call Transcript
Key Points
- Certara Inc (CERT) reported a 11% year-over-year increase in third-quarter revenue, reaching $94.8 million.
- The company achieved a 13% increase in total bookings, indicating strong demand for its services.
- Certara Inc (CERT) successfully closed the Chemaxon acquisition, expanding its biosimulation reach into the pre-clinical market.
- The launch of Certara Cloud has provided easier access to software, reducing IT and security costs for customers.
- Certara Inc (CERT) has seen strong performance in software bookings, with a 28% increase from the prior year period.
- Certara Inc (CERT) experienced a lengthened decision-making process among larger customers, impacting growth predictions.
- The regulatory services market has been more challenging than expected, leading to a modest revision of 2024 guidance.
- There is a divergence in growth profiles between the regulatory services and core biosimulation businesses.
- Certara Inc (CERT) has seen further deterioration in regulatory services bookings, affecting revenue assumptions for the fourth quarter.
- The company is cautious about predicting second-half growth due to market dynamics and customer decision delays.
Good day, and thank you for standing by. Welcome to the Certara third-quarter earnings conference call.(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. Please go ahead.
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; and John Gallagher, Chief Financial Officer. Earlier today, Certara released financial results for the quarter ended September 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 company materials for additional information which you can find
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