Certara reports Q2 adjusted EPS 12c, consensus 13c

Reports Q2 revenue $90.5M, consensus $92.18M. “During the second quarter our software business performed well, but we experienced lower growth than expected in our services business due to cautious spending among smaller biotech customers, as well as a slow recovery in our regulatory business. While we are not satisfied with this quarter’s results and they have led us to restate our outlook for 2023 based on current market dynamics, we believe the fundamental health of the drug development market and the increasing acceptance and adoption of biosimulation technology provide an excellent opportunity for us to continue to invest in the growth of Certara,” said CEO William Feehery. “We believe continued strength in software sales reflects a healthy market for technology that accelerates new medicine development and anticipate demand improvement in the services business as we move into 2024.”