Schrödinger Q2 revenue falls 8.5% to $35.2M; raises software guidance, cuts drug discovery outlook

Schrodinger, Inc.

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

GAAP net income of $4.3M vs loss of $47.7M; non-GAAP net loss widened to $56.8M from $43.8M.
Total revenue $35.2M, down 8.5% YoY; drug discovery revenue fell 31% to $5.8M.
2023 software revenue growth guidance raised to 15-18%; drug discovery revenue guidance cut to $50-70M from $70-90M.
IND cleared for CDC7 inhibitor SGR-2921; Phase 1 trial in AML/MDS planned for 2023.
Margaret Dugan appointed CMO; Zai Lab collaboration not advanced, program wholly-owned.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

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

Period: second quarter ended 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 0001490978-23-000095

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