NASDAQ$SDGR
Schrodinger Inc/United States · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Reported strong revenue growth and significant pipeline progress.
Schrödinger reported a strong third quarter with total revenue of $42.6 million, a 15.1% increase compared to the third quarter of 2022. The company saw growth in both software and drug discovery revenue. They updated their financial guidance for 2023.
- Total revenue for the third quarter was $42.6 million, up from $37.0 million in the third quarter of 2022.
- Software revenue increased to $28.9 million, compared to $24.7 million in the same period last year.
- Drug discovery revenue rose to $13.7 million, up from $12.3 million year-over-year.
- Phase 1 clinical study of SGR-2921 was initiated, and the Phase 1 study of SGR-1505 in healthy volunteers is nearing completion.
Headline financials
Revenue & EPS history
Schrodinger · Revenue · Quarterly
$42.6M
Revenue by segment
Schrodinger · $13.7M total across 1 segment · Q3 2023
- Drug Discovery$13.7M+11.3%100.0%
Forward guidance
Schrödinger updated its financial guidance for 2023.
Tailwinds
- Software revenue growth is expected to be in the range of 15 percent to 18 percent.
- Drug discovery revenue is expected to range from $50 million to $70 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.
Headwinds
- Cash used for operating activities is now expected to be higher in 2023 than 2022, based on the mix of revenue, the timing and size of milestones and expectations for new business development activity this year.
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 Q3 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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