NASDAQ$SDGR
Schrodinger Inc/United States · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Delivered strong first quarter total revenue, driven by drug discovery revenue and reported first subjects enrolled in Phase 1 studies.
Schrödinger reported a strong first quarter with total revenue of $64.8 million, a 33% increase compared to Q1 2022. The company's drug discovery collaborations advanced, and they initiated Phase 1 studies. A $147.3 million distribution from the sale of Nimbus’s TYK2 inhibitor to Takeda significantly strengthened their cash position.
- Total revenue for the first quarter increased 33% to $64.8 million.
- Drug discovery revenue was $32.6 million, including a $25 million milestone from BMS.
- Net income for the first quarter was $129.1 million, compared to a net loss of $34.4 million in the first quarter of 2022.
- Schrödinger had cash, cash equivalents, restricted cash and marketable securities of approximately $532 million at March 31, 2023.
Headline financials
Revenue & EPS history
Schrodinger · Revenue · Quarterly
$64.8M
Revenue by segment
Schrodinger · $64.8M total across 2 segments · Q1 2023
- Drug Discovery$32.6M+109.0%50.3%
- Software Products & Services$32.2M-2.6%49.7%
Forward guidance
Schrödinger maintained its financial guidance for the fiscal year ending December 31, 2023.
Tailwinds
- Software revenue growth is expected to be in the range of 13 to 17 percent
- Drug discovery revenue is expected to range from $70 million to $90 million
- Software gross margin is expected to be similar to software gross margin for the full year 2022
- Operating expense growth in 2023 is expected to be significantly lower than operating expense growth in 2022 and to be similar to revenue growth in 2023
- Cash used for operating activities in 2023 is expected to be below cash used for operating activities in 2022
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2023
-2.2%
Avg return
Earnings day
-1.6%
Avg return
5 days after
+1.8%
Avg return
30 days after
42%
11 / 26 earnings
Positive
+31.4%
Q4 2021
Best reaction
-29.9%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.2% | +1.9% | +23.0% | |
| Q4 2025 | +8.3% | +5.9% | -6.1% | |
| Q3 2025 | -5.8% | -7.4% | -10.8% | |
| Q1 2025 | +0.6% | +0.2% | +3.8% | |
| Q4 2024 | +2.5% | -2.9% | -8.0% | |
| Q3 2024 | +13.1% | -5.1% | +7.8% | |
| Q2 2024 | +0.1% | -15.7% | -6.8% | |
| Q1 2024 | -4.9% | -1.4% | -11.7% | |
| Q4 2023 | -23.1% | -23.7% | -18.4% | |
| Q3 2023 | +15.3% | +27.5% | +49.7% | |
| Q2 2023 | -26.9% | -27.3% | -29.8% | |
| Q1 2023 | -5.1% | -6.4% | +22.3% | |
| Q4 2022 | +14.5% | +21.7% | +16.8% | |
| Q3 2022 | -14.6% | -15.6% | -29.2% | |
| Q2 2022 | +1.5% | -4.9% | -19.1% | |
| Q1 2022 | -5.5% | -10.5% | +1.5% | |
| Q4 2021 | +31.4% | +45.4% | +36.4% | |
| Q3 2021 | -16.1% | -15.6% | -31.6% | |
| Q2 2021 | -5.1% | -12.1% | -0.1% | |
| Q1 2021 | -6.8% | -4.3% | +19.4% | |
| Q4 2020 | -29.9% | -29.7% | -20.8% | |
| Q3 2020 | +12.4% | +15.8% | +39.6% | |
| Q3 2019 | +12.4% | +15.8% | +39.6% | |
| Q2 2020 | -2.5% | -2.4% | -24.2% | |
| Q1 2020 | -8.1% | +0.5% | +3.0% | |
| Q4 2019 | -14.6% | +8.3% | +1.5% | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — |
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