Certara, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Certara, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	209	244	286	336	354	385	419
Cost of revenue	79.8	101	112	133	141	155	161
Gross profit	129	143	174	203	213	231	258
Research and development	11.6	19.6	20.4	28.2	34.2	37.1	41
Selling and marketing	10.7	19.2	20.1	27.4	32	47.4	53.7
General and administrative	47.9	88.5	79.5	71.8	95.4	94.2	85.4
Operating expenses	109	167	161	171	254	232	237
Operating income	19.6	-24.4	13.6	32.5	-40.8	-1.73	21
Interest expense	28	25.3	16.8	17.8	22.9	21.5	19.7
Other non-operating income	-28.8	-25.8	-17	-13.8	-14.4	-15.5	-13.4
Pre-tax income	-9.15	-50.2	-3.38	18.8	-55.1	-17.2	7.62
Income tax	-0.23	-0.78	9.89	4.02	0.21	-5.13	9.21
Net income	-8.93	-49.4	-13.3	14.7	-55.4	-12.1	-1.6
EBITDA	22.2	-22	15.7	34.3	15.3	66.3	96.2
EPS, basic	-0.07	-0.37	-0.09	0.09	-0.35	-0.08	-0.01
EPS, diluted	-0.07	-0.37	-0.09	0.09	-0.35	-0.08	-0.01
Shares, basic (weighted)	132	133	150	157	159	160	160
Shares, diluted (weighted)	132	133	150	159	159	160	160

Balance sheet

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	29.3	271	186	237	235	179	189
Receivables		46.4	60.2	72.2	75.4	90.6	94.6
Other current assets		1.12	0.77	0.73	1.16	2.06	1.13
Total current assets		347	275	342	340	311	315
Property, plant and equipment		3.87	2.94	2.4	2.67	2.17	1.81
Lease right-of-use assets			12.6	14.4	9.6	13.8	11.8
Goodwill	515	519	703	718	716	757	745
Intangible assets		396	512	487	487	485	362
Other non-current assets		1.16	2.17	5.62	3.05	2.03	1.51
Total assets		1,269	1,512	1,573	1,563	1,575	1,557
Accounts payable		6.39	7.46	7.53	5.17	3.5	3.04
Accrued liabilities		30.7	29.8	35.4	56.8	56.5	59.7
Deferred revenue		30.7	45.5	52.2	60.7	77.8	75.4
Short-term debt		4.68	3.02	3.02	3.02	3	2.96
Total current liabilities		75.3	92.2	103	130	146	153
Long-term debt		294	292	290	288	292	290
Lease liabilities			8.26	10.1	6.96	11.2	8.44
Other non-current liabilities		1.38	0.03	22.1	39.2	25.3	5.12
Total liabilities		447	470	493	516	516	494
Total debt		299	295	293	291	295	293
Paid-in capital		885	1,120	1,150	1,178	1,217	1,256
Retained earnings		-62.3	-75.6	-60.9	-116	-128	-130
Treasury stock			-0.04	-3	-9.4	-18.2	-66.7
Other comprehensive income		-1.59	-3.93	-8.23	-7.59	-13.4	2.04
Shareholders' equity	492	822	1,042	1,080	1,047	1,059	1,063
Total equity	492	822	1,042	1,080	1,047	1,059	1,063
Total liabilities and equity		1,269	1,512	1,573	1,563	1,575	1,557
Shares outstanding		153	160	160	160	161	159

Cash flow statement

	FY2019	FY2021	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-8.93	-49.4	-13.3	14.7	-55.4	-12.1	-1.6
Depreciation and amortization	2.6	2.44	2.14	1.73	56.1	68	75.2
Stock-based compensation	1.69	64.5	29.5	30.3	28.3	34.8	33.1
Deferred income tax	-6.7	-7.83	-1.18	-11.5	-16.5	-12.7	-8.32
Change in receivables	-1.52	-3.93	-10.1	-15	0.15	-16.2	0.43
Change in payables	10	2.38	1.13	9.08	-5.61	-4.77	4.4
Cash from operations	38	44.8	60.4	92.5	82.8	80.5	96.3
Capital expenditures	-2.11	-0.86	-1.14	-1.43	-1.78	-1.63	-1.76
Acquisitions		-0.68	-261	-15.3	-64.2	-91.3	0
Cash from investing	-9.52	-8.61	-270	-27.8	-79.6	-112	-26.6
Debt issued			0.09	0	0
Stock issued		316	133	0	0
Share buybacks	-0.7	-1.08			0	0	-42.6
Cash from financing	-8.49	208	123	-7.36	-9.45	-21	-64
Exchange rate effect	-2.44	-0.88	-0.52	-4.28	1.51	-2.86	4.43
Net change in cash	17.6	244	-86.7	53.1	-4.74	-55.8	10.2
Free cash flow	35.9	43.9	59.2	91.1	81	78.8	94.6
Interest paid	26.4	27.6	14.2	17.3	19.1	22.7	19.1
Income taxes paid	4.11	12.3	8.6	10.1	19.3	14.7	12.2

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $9.11 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	63.0%	Gross profit / revenue.
Operating margin	0.3%	Operating income / revenue.
EBITDA margin	15.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-4.2%	Pre-tax income / revenue.
Net margin	-16.3%	Net income / revenue.
FCF margin	19.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	19.7%	Cash from operations / revenue.
Return on equity (ROE)	-7.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-4.9%	Net income / average total assets.
Return on invested capital (ROIC)	0.1%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	10.3%	Research and development expense / revenue.
Stock-based pay / revenue	7.4%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.6%	Capital expenditures / revenue.
D&A / revenue	15.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	7.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	11.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	11.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	8.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	12.5%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income CAGR, 3y	-13.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	45.1%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	41.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	19.7%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	1.3%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	16.5%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	19.9%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	1.2%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	16.6%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	0.4%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-0.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	5.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-1.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.3%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	4.2%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	0.0%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.2%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	3.8%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.55x	Current assets / current liabilities.
Quick ratio	2.17x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.50x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.30x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	20.8%	Total debt / total assets.
Liabilities / assets	31.0%	Total liabilities / total assets.
Net debt	$107.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.65x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	0.06x	Operating income / interest expense.
Working capital	$189.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	76.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$96.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.30x	Revenue / average total assets.
Fixed asset turnover	251x	Revenue / average property, plant and equipment.
Receivables turnover	5.19x	Revenue / average receivables.
Days sales outstanding	70 days	365 x average receivables / revenue.
Days payables	6 days	365 x average accounts payable / cost of revenue.
Capex / operating cash flow	3.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$0.44	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$2.73	Revenue / diluted weighted shares.
FCF per share	$0.52	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.54	Cash from operations / diluted weighted shares.
Book value per share	$6.34	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$0.63	Tangible book value / shares outstanding.
Cash per share	$1.21	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	93.3%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$1.39B	Share price x shares outstanding.
Enterprise value	$1.50B	Market cap + total debt - cash - short-term investments.
P/S	3.30x	Market cap / revenue.
P/B	1.44x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	17.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	16.8x	Market cap / cash from operations, when positive.
EV/Sales	3.56x	Enterprise value / revenue.
EV/EBIT	1,224x	Enterprise value / operating income, when both are positive.
EV/EBITDA	23.0x	Enterprise value / EBITDA, when both are positive.
EV/FCF	18.6x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.8%	Free cash flow / market cap.
Earnings yield	-4.9%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.4%	(Dividends paid + share buybacks) / market cap.

What was Certara, Inc.'s revenue in fiscal 2025?

Certara, Inc. reported revenue of $418.8M for fiscal 2025, 8.7% higher than the year before.

Was Certara, Inc. profitable in fiscal 2025?

No. It reported a net loss of $1.6M.

How much free cash flow did Certara, Inc. generate in fiscal 2025?

Cash from operations of $96.3M minus capital expenditures of $1.8M left free cash flow of $94.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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