San Diego, California--(Newsfile Corp. - June 3, 2026) - Johnson Fistel, PLLP is investigating whether Simulations Plus, Inc. (NASDAQ: SLP) or certain of its executive officers violated federal securities laws after the Company reduced its fiscal 2025 revenue outlook, reported a significant impairment charge, and disclosed an auditor dispute involving segment reporting, reporting-unit determinations, and internal control over financial reporting.

What if I purchased Simulations Plus securities?
If you purchased Simulations Plus securities and suffered losses on your investment, join our investigation now:

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

Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471.

There is no cost or obligation to you.

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

On June 11, 2025, Simulations Plus announced preliminary third-quarter fiscal 2025 revenue results and reduced its full-year fiscal 2025 revenue guidance to $76 million to $80 million. The Company attributed the revised revenue 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 concerns emerged on July 14, 2025, when Simulations Plus reported third-quarter fiscal 2025 financial results. The Company disclosed a net loss of $67.3 million, or $3.35 per diluted share, which included a $77.2 million non-cash impairment charge.

The next 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 disagreed with aspects of the Company's disclosure. In a letter filed with the SEC, 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 26%, declining from $17.47 per share to $12.97 per share.

In light of this disclosure, Johnson Fistel is investigating whether Simulations Plus complied with the federal securities laws. If you suffered losses, contact Johnson Fistel.

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.

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Source: Johnson Fistel, PLLP