Simulations Plus：2024年度报告

FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended August31, 2025or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from _________ to _________ Commission file number: 001-32046 Simulations Plus, Inc.(Exact name of registrant as specified in its charter) California(State or other jurisdiction of incorporation or organization)95-4595609(I.R.S. Employer Identification No.) 800 Park Offices Drive,Suite 401Research Triangle Park,NC 27709(661) 723-7723(Address of principal executive offices including zip code)(Registrant’s telephone number, including area code) SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which RegisteredCommon Stock, par value $0.001 per shareSLPNASDAQ Stock Market LLC SECURITIES REGISTERED PURSUANT TO SECTION 12(G) OF THE ACT: NONE Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YesNo Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. YesNo Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated FilerAccelerated FilerNon-accelerated FilerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report. If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements. Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). YesNo The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant as of February 28, 2025, the lastbusiness day of the registrant’s most recently completed second fiscal quarter, based upon the closing price of the common stock asreported by The Nasdaq Global Select Market on such date, was approximately $478,929,073. This calculation does not reflect adetermination that persons are affiliates for any other purposes. As of November14, 2025, 20,144,564 shares of the registrant’s common stock were outstanding. Certain portions of the registrant’s definitive proxy statement to be delivered to its shareholders in connection with the registrant’s2026 Annual Meeting of Shareholders are incorporated by reference into Part III of this Annual Report on Form 10-K. Such definitiveproxy statement will be filed with the Securities and Exchange Commission within 120 days after the end of the fiscal year covered bythis Annual Report on Form 10-K. Simulations Plus, Inc.FORM 10-KFor the Fiscal Year Ended August31, 2025 Table of Contents PART I ITEM 1 – BUSINESSITEM 1A – RISK FACTORSITEM 1B – UNRESOLVED STAFF COMMENTSITEM 1C - CYBERSECURITYITEM 2 – PROPERTIESITEM 3 – LEGAL PROCEEDINGSITEM 4 – MINE SAFETY DISCLOSURES PART II ITEM 5 – MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS ANDISSUER PURCHASES OF EQUITY SECURITIES31ITEM 6 – [RESERVED]32ITEM 7 – MAN