NASDAQ$SDGR
Schrodinger Inc/United States · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Reported a 29% increase in total revenue year-over-year, with software revenue up 15% and drug discovery revenue significantly higher due to collaborations and IP acquisition.
Schrödinger reported a strong second quarter with a 29% increase in total revenue, driven by growth in both software and drug discovery segments. The company highlighted progress in its internal drug discovery pipeline and a new oncology collaboration with Zai Lab.
- Total revenue increased by 29% year-over-year, reaching $29.8 million.
- Software revenue grew by 15% year-over-year, amounting to $24.1 million.
- Drug discovery revenue increased to $5.7 million, including $3.3 million from the Bristol Myers Squibb collaboration.
- The company is advancing its internal drug discovery programs, with plans to submit up to three IND applications to the FDA in 2022.
Headline financials
Revenue & EPS history
Schrodinger · Revenue · Quarterly
$29.8M
Revenue by segment
Schrodinger · $29.8M total across 2 segments · Q2 2021
- Software Products & Services$24.1M+15.1%80.8%
- Drug Discovery$5.73M+161.5%19.2%
Forward guidance
Schrödinger maintains its full-year 2021 financial outlook, expecting total revenue to range from $124 million to $142 million, with software revenue between $102 million and $110 million, and drug discovery revenue between $22 million and $32 million.
Tailwinds
- Majority of second half software revenue growth is expected in the fourth quarter of 2021.
- Company continues to aggressively fund R&D to advance its technology.
- Company continues to aggressively fund R&D to advance its drug discovery pipeline.
- The company expects to submit up to three IND applications in 2022, with the first submission to the FDA expected in the first half of next year.
- Schrödinger expects to present preclinical data from at least one of its internal programs in the second half of 2021.
Headwinds
- Drug discovery revenue can be highly variable quarter to quarter based on the timing of potential milestones related to collaborative agreements.
- Operating expense growth is expected to be higher than the 42 percent annual growth rate reported in 2020.
- Software gross margin is expected to be lower than the 81 percent reported in 2020.
- Net loss, after adjusting for non-controlling interest, was $34.6 million for the second quarter of 2021, compared to a net loss of $3.4 million in the second quarter of 2020, driven by adjustments to the fair value of the company’s equity investments as well as planned investments to advance the company’s growth strategy.
- Cash, cash equivalents, restricted cash and marketable securities as of June 30, 2021 were $616.6 million, compared to $649.0 million as of March 31, 2021.
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 Q2 2021
-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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