Certara, Inc.
CERT · Services-Prepackaged Software · 155.6M shares · +5%/yr ↑ dilution · EDGAR filings ↗
Reference price $8.30 · est. market cap ~$1.3B — last insider purchase, 2025-11-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Biosimulation software/services company (Certara) — near breakeven with positive free cash flow.
Strengths
- Positive free cash flow — FCF $95M (38th), FCF margin 23%
- Durable biosimulation franchise — operating margin 5% (58th)
Risks
- Near-breakeven net result — net margin 0%
- Biotech-funding-cycle exposure — per 10-K
- Competition — per 10-K
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Net lossNet loss (net margin -0.4%)
- Customer concentration~90% of revenue from one customer/distributor — Since 2014, customers who leverage our solutions have received 90% or more of all new drug approvals by FDA
- Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
- Strong balance sheetStrong balance sheet — $189M cash & investments
- Notable holderHeld by 5 notable fund(s): CITADEL ADVISORS LLC, STATE STREET CORP, GOLDMAN SACHS GROUP INC +2 more (as of 2026-03-31)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
5.0%
Net margin
-0.4%
Return on equity
-0.2%
Return on assets
-0.1%
ROIC
1.2%
Revenue growth (QoQ)
3.2%
Debt / equity
0.3×
Net debt / EBITDA
1.0×
Current ratio
2.1×
Free cash flow
$95M
EBITDA
$96M
Tangible book value
-$158M
Cash & investments
$189M
Stock comp / revenue
7.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-01 | Corcoran Daniel | Option exercise | 7.9K | — |
| 2026-06-01 | Corcoran Daniel | Tax withheld | 4.2K | $5.82 |
| 2026-06-01 | Corcoran Daniel | Option exercise | 15K | — |
| 2026-06-01 | Corcoran Daniel | Tax withheld | 7.9K | $5.82 |
| 2026-06-01 | Anhalt Rona | Option exercise | 7.1K | — |
| 2026-06-01 | Anhalt Rona | Tax withheld | 2.2K | $5.82 |
| 2026-05-14 | Bedi Arjun | Option exercise | 5.5K | — |
| 2026-05-14 | Reynders John V W | Option exercise | 16K | — |
| 2026-05-14 | Killefer Nancy | Option exercise | 16K | — |
| 2026-05-14 | Crane Rosemary A | Option exercise | 16K | — |
| 2026-05-14 | Collins Cynthia | Option exercise | 16K | — |
| 2026-05-14 | WALSH MATTHEW M | Option exercise | 16K | — |
| 2026-05-14 | BROSHY ERAN | Option exercise | 16K | — |
| 2026-05-14 | CASHMAN JAMES E III | Option exercise | 16K | — |
| 2026-05-11 | Resnick Jon Matthew | Option exercise | 60K | — |
| 2026-05-11 | Resnick Jon Matthew | Tax withheld | 24K | $6.31 |
| 2026-04-01 | McKemey Adrian | Option exercise | 11K | — |
| 2026-04-01 | McKemey Adrian | Tax withheld | 2.6K | $5.70 |
| 2026-04-01 | Corcoran Daniel | Option exercise | 11K | — |
| 2026-04-01 | Corcoran Daniel | Tax withheld | 5.8K | $5.70 |
| 2026-04-01 | Anhalt Rona | Option exercise | 9.8K | — |
| 2026-04-01 | Anhalt Rona | Tax withheld | 3.1K | $5.70 |
| 2026-04-01 | Aspbury Robert | Grant | 15K | — |
| 2026-04-01 | Aspbury Robert | Tax withheld | 6.8K | $5.70 |
| 2026-04-01 | Aspbury Robert | Option exercise | 7.9K | — |
| 2026-04-01 | Aspbury Robert | Tax withheld | 3.7K | $5.70 |
| 2026-04-01 | Aspbury Robert | Option exercise | 10K | — |
| 2026-04-01 | Aspbury Robert | Tax withheld | 4.8K | $5.70 |
| 2026-04-01 | Aspbury Robert | Option exercise | 15K | — |
| 2026-04-01 | Aspbury Robert | Tax withheld | 7.1K | $5.70 |
| 2026-04-01 | Gallagher John E | Grant | 23K | — |
| 2026-04-01 | Gallagher John E | Tax withheld | 7.8K | $5.70 |
| 2026-04-01 | Gallagher John E | Option exercise | 13K | — |
| 2026-04-01 | Gallagher John E | Tax withheld | 4.3K | — |
| 2026-04-01 | Gallagher John E | Option exercise | 15K | — |
| 2026-04-01 | Gallagher John E | Tax withheld | 5.2K | $5.70 |
| 2026-04-01 | Gallagher John E | Option exercise | 23K | — |
| 2026-04-01 | Gallagher John E | Tax withheld | 7.8K | $5.70 |
| 2026-04-01 | Pedersen Leif E | Grant | 15K | — |
| 2026-04-01 | Pedersen Leif E | Tax withheld | 3.5K | $5.70 |
| 2026-04-01 | Pedersen Leif E | Option exercise | 7.9K | — |
| 2026-04-01 | Pedersen Leif E | Tax withheld | 1.9K | $5.70 |
| 2026-04-01 | Pedersen Leif E | Option exercise | 10K | — |
| 2026-04-01 | Pedersen Leif E | Tax withheld | 2.5K | $5.70 |
| 2026-04-01 | Pedersen Leif E | Option exercise | 15K | — |
| 2026-04-01 | Pedersen Leif E | Tax withheld | 3.7K | $5.70 |
| 2025-11-11 | Feehery William F | Buy | 24K | $8.30 |
| 2025-09-09 | Pedersen Leif E | Sell | 51K | $10.92 |
| 2025-05-30 | Anhalt Rona | Option exercise | 7.1K | — |
| 2025-05-30 | Anhalt Rona | Tax withheld | 2.0K | $11.40 |
| 2025-05-30 | Corcoran Daniel | Option exercise | 7.9K | — |
| 2025-05-30 | Corcoran Daniel | Tax withheld | 2.3K | $11.40 |
| 2025-05-30 | Corcoran Daniel | Option exercise | 15K | — |
| 2025-05-30 | Corcoran Daniel | Tax withheld | 4.3K | $11.40 |
| 2025-05-21 | WALSH MATTHEW M | Option exercise | 12K | — |
| 2025-05-21 | Reynders John V W | Option exercise | 11K | — |
| 2025-05-21 | Killefer Nancy | Option exercise | 12K | — |
| 2025-05-21 | Crane Rosemary A | Option exercise | 12K | — |
| 2025-05-21 | Collins Cynthia | Option exercise | 12K | — |
| 2025-05-21 | CASHMAN JAMES E III | Option exercise | 12K | — |
| 2025-05-21 | BROSHY ERAN | Option exercise | 12K | — |
| 2025-04-01 | Aspbury Robert | Grant | 7.1K | — |
| 2025-04-01 | Aspbury Robert | Tax withheld | 3.3K | $9.90 |
| 2025-04-01 | Aspbury Robert | Option exercise | 8.6K | — |
| 2025-04-01 | Aspbury Robert | Tax withheld | 4.1K | $9.90 |
| 2025-04-01 | Aspbury Robert | Option exercise | 7.9K | — |
| 2025-04-01 | Aspbury Robert | Tax withheld | 3.7K | $9.90 |
| 2025-04-01 | Aspbury Robert | Option exercise | 10K | — |
| 2025-04-01 | Aspbury Robert | Tax withheld | 4.8K | $9.90 |
| 2025-04-01 | Pedersen Leif E | Grant | 7.1K | — |
| 2025-04-01 | Pedersen Leif E | Tax withheld | 1.7K | $9.90 |
| 2025-04-01 | Pedersen Leif E | Option exercise | 8.6K | — |
| 2025-04-01 | Pedersen Leif E | Tax withheld | 2.1K | $9.90 |
| 2025-04-01 | Pedersen Leif E | Option exercise | 7.9K | — |
| 2025-04-01 | Pedersen Leif E | Tax withheld | 1.9K | $9.90 |
| 2025-04-01 | Pedersen Leif E | Option exercise | 10K | — |
| 2025-04-01 | Pedersen Leif E | Tax withheld | 2.5K | $9.90 |
| 2025-04-01 | Gallagher John E | Option exercise | 15K | — |
| 2025-04-01 | Gallagher John E | Tax withheld | 4.6K | $9.90 |
| 2025-04-01 | Gallagher John E | Option exercise | 13K | — |
| 2025-04-01 | Gallagher John E | Tax withheld | 4.3K | $9.90 |
| 2025-04-01 | Gallagher John E | Option exercise | 15K | — |
| 2025-04-01 | Gallagher John E | Tax withheld | 5.2K | $9.90 |
| 2025-04-01 | Feehery William F | Grant | 30K | — |
| 2025-04-01 | Feehery William F | Tax withheld | 8.2K | $9.90 |
| 2025-04-01 | Feehery William F | Option exercise | 37K | — |
| 2025-04-01 | Feehery William F | Tax withheld | 14K | $9.90 |
| 2025-04-01 | Feehery William F | Option exercise | 33K | — |
| 2025-04-01 | Feehery William F | Tax withheld | 14K | $9.90 |
| 2025-04-01 | Feehery William F | Option exercise | 42K | — |
| 2025-04-01 | Feehery William F | Tax withheld | 18K | $9.90 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Exec/director changeExhibits | filing ↗ |
| 2026-05-15 | Shareholder vote | filing ↗ |
| 2026-05-11 | ResultsOtherExhibits | filing ↗ |
| 2026-04-22 | Material agreementExhibits | filing ↗ |
| 2026-03-31 | Exec/director change | filing ↗ |
| 2026-02-26 | ResultsExhibits | filing ↗ |
| 2025-12-11 | Exec/director changeExhibits | filing ↗ |
| 2025-11-06 | ResultsExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-11 | 0001104659-26-075172 ↗ |
| 8-K | 2026-05-15 | 2026-05-14 | 0001104659-26-062640 ↗ |
| 10-Q | 2026-05-11 | 2026-03-31 | 0001827090-26-000019 ↗ |
| 8-K | 2026-05-11 | 2026-05-11 | 0001827090-26-000017 ↗ |
| 8-K | 2026-04-22 | 2026-04-22 | 0001104659-26-046358 ↗ |
| 8-K | 2026-03-31 | 2026-03-27 | 0001104659-26-037798 ↗ |
| 10-K | 2026-02-26 | 2025-12-31 | 0001827090-26-000011 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001827090-26-000008 ↗ |
| 8-K | 2025-12-11 | 2025-12-09 | 0001104659-25-120096 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001827090-25-000046 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001827090-25-000048 ↗ |
| 8-K | 2025-10-16 | 2025-10-16 | 0001104659-25-100106 ↗ |