Certara, Inc. (NASDAQ:CERT) recently held their Q1 2024 Earnings Conference Call on May 7th at 5:00 PM ET. The call included key figures such as CEO William Feehery and CFO John Gallagher, discussing the company’s financial results for the first quarter of 2024. Certara reported total revenue of $96.7 million, showing growth of 7% reported and 6% constant currency growth. The company highlighted the strong demand for their biosimulation software and AI-enhanced products, following the acquisition of Vyasa.

Feehery expressed optimism about the positive trends in clinical trial activity and biotech funding in 2024. He noted a shift in capital raising allowing smaller companies to focus on R&D initiatives. Despite positive industry sentiments, Certara is cautiously optimistic about market recovery in 2024. The company is focused on key initiatives to drive growth, including investments in commercial infrastructure and expanding biosimulation software capabilities.

One significant initiative introduced by Certara is the Certara Cloud platform, designed to streamline access to their software suite. This platform aims to enhance collaboration, data security, and overall usability for clients. Certara Cloud has already gained traction among top biopharmaceutical companies, showcasing the company’s commitment to innovation and customer satisfaction.

In terms of financial performance, Certara saw a 19% growth in software revenue, driven by platforms like Simcyp, Phoenix, and Pinnacle 21. Investments in new technologies like CoAuthor, a regulatory writing tool using AI, are expected to drive efficiencies and attract customer interest. The technology-driven services segment reported flat revenue year-over-year, with a focus on recovering from cautious customer spending in 2023.

Looking ahead, Certara reiterated their guidance for 2024, with expected total revenue in the range of $385 million to $400 million. The company anticipates growth in adjusted EBITDA and adjusted EPS. While the first quarter showed stability and positive performance, Certara remains focused on leveraging market opportunities and driving innovation to achieve their 2024 goals.