Simulations Plus (SLP) Securities Investigation: Johnson Fistel Reviews Revenue Guidance Cut, $77.2M Impairment Charge, and Auditor Dispute

SAN DIEGO, June 5, 2026 /PRNewswire/ -- Johnson Fistel, PLLP is investigating potential securities law violations on behalf of investors of Simulations Plus, Inc. (NASDAQ: SLP). The investigation concerns whether Simulations Plus or certain of its officers and directors made false or misleading statements, or failed to disclose material information, concerning the Company's financial outlook, reporting practices, internal controls, and related accounting matters.

What Should Simulations Plus Investors Do?

If you purchased Simulations Plus securities and suffered losses, you may have legal rights. Investors are encouraged to join the investigation by visiting:

https://www.johnsonfistel.com/investigations/simulations-plus-inc/

There is no cost or obligation to participate.

Why Is Johnson Fistel Investigating Simulations Plus?

On April 3, 2025, Simulations Plus reported financial results for the second quarter of fiscal 2025 and maintained full-year fiscal 2025 revenue guidance of $90 million to $93 million.

Then, on June 11, 2025, Simulations Plus announced preliminary third-quarter fiscal 2025 revenue results and reduced its full-year fiscal 2025 revenue guidance to a range of $76 million to $80 million. The Company attributed the revised outlook, in part, to market uncertainties affecting pharmaceutical and biotechnology customers, including budget reductions, project cancellations, and delays.

Following this announcement, Simulations Plus stock declined more than 24%, falling from $26.44 per share to $20.05 per share.

Additional Simulations Plus Disclosures

On July 14, 2025, Simulations Plus reported third-quarter fiscal 2025 financial results and disclosed a net loss of $67.3 million, or $3.35 per diluted share. The loss included a $77.2 million non-cash impairment charge.

The following day, Simulations Plus disclosed that its Audit Committee had dismissed Grant Thornton LLP as the Company's independent registered public accounting firm. In the Company's Form 8-K, Simulations Plus stated that certain matters relating to segment reporting, reporting-unit determinations, and internal control over financial reporting could not be finalized in time for the Company's Quarterly Report on Form 10-Q.

Grant Thornton later filed a letter with the SEC disagreeing with aspects of Simulations Plus' disclosure. In that letter, Grant Thornton stated that it had identified and communicated matters to management and the Audit Committee relating to segment reporting, reporting-unit determinations, and internal control over financial reporting, and that those matters "were not resolved to our satisfaction" as of the date Grant Thornton was terminated.

Following these disclosures, Simulations Plus shares fell nearly 26%, declining from $17.47 per share to $12.97 per share.

About Johnson Fistel, PLLP

Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits.

Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors.

Attorney Advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. This communication may be considered a promotional communication in certain jurisdictions. Frank J. Johnson is the attorney responsible for this communication.

Contact:
Johnson Fistel, PLLP
501 W. Broadway, Suite 800
San Diego, CA 92101
James Baker, Investor Relations
Frank J. Johnson, Esq.
(619) 814-4471
[email protected] | [email protected]

SOURCE Johnson Fistel, PLLP