secwatch.observer — SEC 8-K summary
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Issuer:     Schrodinger, Inc. (SDGR)
CIK:        0001490978
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001490978-24-000088
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Schrödinger Q3 total revenue $35.3M (-17% YoY); announces $150M upfront Novartis collaboration
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1490978/000149097824000088/0001490978-24-000088-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1490978/000149097824000088/sdgr-20241112.htm
  HTML page:      https://secwatch.observer/filing/0001490978-24-000088

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer