earnings
confidence high
sentiment positive
materiality 0.80
Schrödinger Q3 total revenue $35.3M (-17% YoY); announces $150M upfront Novartis collaboration
Schrodinger, Inc.
2024-Q3 EPS reported
-$2.02
revenue$119,222,000
- Software revenue $31.9M (+10% YoY); drug discovery revenue $3.4M (-75% YoY).
- Net loss $38.1M vs $62.0M a year ago; non-GAAP net loss $63.7M.
- Novartis pays $150M upfront; potential milestones up to $2.3B plus royalties.
- 2024 guidance: software rev growth 8-13%; drug discovery rev $20-30M; software gross margin slightly below 2023.
- Cash & equivalents $398.4M at Sept 30, 2024; received $48M from Lilly buyout of Morphic.