Global Economic Conditions and Biopharmaceutical R&D Spending: Potential global economic slowdown due to geopolitical conflicts and downgraded growth forecasts could lead to reduced R&D budgets for Certara's biopharmaceutical clients, impacting demand for its biosimulation software and services.

US Economic Health and Healthcare Investment: A strong US economy with job growth may foster continued investment in the healthcare and biotech sectors, potentially benefiting Certara's domestic business.

Advancements in Drug Development and Regulatory Adoption of Biosimulation: Continuous innovation in drug development methodologies and increasing regulatory acceptance of model-informed drug development (MIDD) and biosimulation are critical for Certara's growth, as demonstrated by its Simcyp® Simulator replacing human trials.