Certara (CERT, Financial) has announced robust financial results for the first quarter of 2024, reporting bookings of $118.0 million, a 12% increase from $105.8 million in the previous quarter. This surge in bookings highlights the company's successful commercial execution and rising demand for its software and services.
The adjusted EBITDA for the same period is projected to be in the range of $33 to $35 million, representing an increase of 13% to 20% over the $29.1 million recorded in the first quarter of the previous year. This impressive performance underscores Certara's strategic focus and operational effectiveness.
In a show of confidence in its long-term strategic plans, Certara’s Board has authorized a $100 million share repurchase program. This move is aimed at enhancing shareholder value as the company continues to invest in artificial intelligence innovations across its platform. Certara remains committed to achieving its commercial and research and development objectives for 2025 amidst growing customer interest in its offerings.
