Johnson Fistel Investigates Simulations Plus Following Revenue Guidance Cut and Accounting Disclosures

Johnson Fistel, PLLP is investigating Simulations Plus, Inc. (NASDAQ: SLP) on behalf of investors who suffered losses and whether those losses may be recoverable under federal securities laws.

On April 3, 2025, Simulations Plus reported second-quarter fiscal 2025 financial results and maintained full-year revenue guidance of $90 million to $93 million. Then, on June 11, 2025, the Company announced preliminary third-quarter revenue results and reduced its fiscal 2025 revenue guidance to a range of $76 million to $80 million, citing, in part, budget reductions, project cancellations, and delays affecting pharmaceutical and biotechnology customers.

Following the announcement, Simulations Plus shares declined more than 24%. Additional concerns arose in July 2025 after Simulations Plus reported a $67.3 million net loss that included a $77.2 million non-cash impairment charge and subsequently disclosed the dismissal of Grant Thornton LLP as its independent registered public accounting firm. Grant Thornton later informed the SEC that it had identified matters concerning segment reporting, reporting-unit determinations, and internal control over financial reporting that “were not resolved to our satisfaction” as of the date the accounting firm was terminated.

Following these disclosures, Simulations Plus shares declined nearly 26%.