Schrödinger Q2 revenue $35.2M (-8.5% YoY); raises software revenue guidance, cuts drug discovery outlook

Schrodinger, Inc.

2023-Q2 EPS reported $1.79 revenue$99,971,000

Net income $4.3M vs net loss $47.7M YoY, driven by $45.0M other income and $20.4M tax benefit.
Non-GAAP net loss $56.8M vs $43.8M YoY; operating expenses rose 23.7% to $74.9M.
Software revenue growth guidance raised to 15%-18%; drug discovery revenue guidance cut to $50M-$70M from $70M-$90M.
IND cleared for CDC7 inhibitor SGR-2921; Phase 1 trial for AML/MDS expected in 2023.
Zai Lab elected not to continue discovery collaboration; program returned to wholly-owned by Schrödinger.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Schrodinger, Inc. reported the quarter ended on June 30, 2023 results: revenue $35.2 million, net income $4.3 million. Guidance raised.

Period: the quarter ended on June 30, 2023
Revenue: $35.2 million
Net income: $4.3 million
Guidance: raised
Result: reported results

Exact text from the filing

Quarter 2023 Financial Results Announces IND Clearance for CDC7 Inhibitor SGR-2921, Continued Progress for MALT1 Inhibitor SGR-1505 Delivers Second Quarter Total Revenue of $35.2 Million Raises 2023 Software Revenue Guidance and Reduces Drug Discovery Guidance New York, August 2, 2023 – Schrödinger, Inc. (Nasdaq: SDGR), whose physics-based computational platform

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Source: SEC EDGAR

accession 0001490978-23-000089

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