Schrödinger Q3 revenue $42.6M (+15% YoY); net loss widens to $62M; updates guidance

Schrodinger, Inc.

2023-Q3 EPS reported $0.95 revenue$142,540,000

Total revenue $42.6M (+15% YoY); software revenue $28.9M (+17%); drug discovery $13.7M (+11%).
Net loss $62.0M vs $39.9M in Q3 2022; operating expenses rose 26% to $79.8M.
Updated FY2023 guidance: software revenue growth 15-18%; drug discovery $50-70M; cash from ops expected higher.
Pipeline: SGR-1505 healthy volunteer data due Q4; SGR-2921 Phase 1 started; PRMT5-MTA program disclosed.
Bristol Myers Squibb returned rights to two oncology programs; company maintains ~$503M cash.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Schrodinger, Inc. reported the third quarter ended September 30, 2023 results: revenue $42.6 million, net income $71.4 million. Guidance reaffirmed.

Period: the third quarter ended September 30, 2023
Revenue: $42.6 million
Net income: $71.4 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

incorporated by specific reference in such filing. --- EX-99.1 (EX-99.1) --- Schrödinger Reports Third Quarter 2023 Financial Results Delivers Third Quarter Total Revenue of $42.6 Million; Maintains Full-Year 2023 Revenue Guidance Continued Progress for SGR-1505, Healthy Volunteer Data Expected in Fourth Quarter of 2023 Phase 1 Study Initiated for SGR-2921;

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Source: SEC EDGAR

accession 0001490978-23-000108

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