NASDAQ$SDGR
Schrodinger Inc/United States · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Reported third quarter results, with software revenue increasing and total revenue decreasing compared to the prior year. The company updated its full-year financial guidance and announced a new collaboration with Novartis.
Schrödinger reported a decrease in total revenue for the third quarter of 2024, while software revenue increased. The company announced a multi-target research and licensing collaboration with Novartis, receiving $150 million upfront. Updated financial guidance for 2024 was provided, with increased confidence in software revenue growth.
- Total revenue for the third quarter was $35.3 million, a decrease from $42.6 million in the third quarter of 2023.
- Software revenue for the third quarter increased 10% to $31.9 million, compared to $28.9 million in the third quarter of 2023.
- Net loss for the third quarter was $38.1 million, compared to a net loss of $62.0 million for the same period in 2023.
- Schrödinger updated its 2024 full-year financial guidance, expecting software revenue growth to range from 8% to 13%.
Headline financials
Revenue & EPS history
Schrodinger · Revenue · Quarterly
$35.3M
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 2024 full-year financial guidance.
Tailwinds
- Software revenue growth is now expected to range from 8% to 13%.
- Drug discovery revenue is now expected to range from $20 million to $30 million.
- Software gross margin is expected to be slightly lower than 2023 and in the range of 2022 based on the effect of the research grant from the Bill & Melinda Gates Foundation.
- Operating expense growth in 2024 is expected to range from 8% to 10%.
- The company expects to add even more capital from the payments associated with the collaboration announced today.
Headwinds
- Cash used for operating activities in 2024 is expected to be above cash used for operating activities in 2023, depending on the timing of cash received from collaborations.
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 2024
-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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