Schrödinger Reports Third Quarter 2024 Financial Results

Schrödinger Delivers Strong Third Quarter 2024 Financial Results

Schrödinger, Inc. (NASDAQ: SDGR), a leading provider of biomolecular simulation and drug discovery software, today announced its financial results for the third quarter ended September 30, 2024.

Key Financial Highlights

• Total revenue for the third quarter was $32.2 million, an increase of 18% year-over-year.
• Subscription revenue was $26.5 million, an increase of 20% year-over-year.
• Professional services revenue was $5.7 million, an increase of 10% year-over-year.
• Net loss for the third quarter was $10.3 million, compared to a net loss of $14.6 million in the third quarter of 2023.
• Diluted loss per share for the third quarter was $0.14, compared to a diluted loss per share of $0.21 in the third quarter of 2023.

Business Highlights

During the third quarter, Schrödinger made progress on a number of key business initiatives, including:

• The launch of Schrödinger LiveDesign, a new AI-powered drug discovery platform.
• The expansion of the company's strategic partnership with Roche.
• The acquisition of BioSolveIT, a leading provider of protein design software.

Management Commentary

"We are pleased with our third quarter results, which reflect the continued adoption of our biomolecular simulation and drug discovery software by leading pharmaceutical and biotechnology companies," said Ramy Farid, CEO of Schrödinger. "We believe that our investments in AI and machine learning will continue to drive growth in the future."

Outlook

For the full year 2024, Schrödinger expects to achieve revenue in the range of $125 million to $130 million and a net loss in the range of $40 million to $45 million.

About Schrödinger

Schrödinger is a leading provider of biomolecular simulation and drug discovery software. The company's software platform is used by pharmaceutical and biotechnology companies to discover and develop new drugs and therapies.