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Mar 31, 2021
Schrodinger Q1 2021 Earnings Report
Reported a 23% increase in total revenue year-over-year, driven by growth in both software and drug discovery segments.
Key Takeaways
Schrödinger reported a strong first quarter with a 23% increase in total revenue, driven by significant growth in drug discovery revenue and continued adoption of its software platform. The company also expanded its collaboration with AstraZeneca and formed a new partnership with NVIDIA.
Total revenue increased by 23% year-over-year to $32.1 million.
Software revenue grew by 11% year-over-year to $26.3 million.
Drug discovery revenue increased to $5.8 million, compared to $2.4 million in the first quarter of 2020.
Expanded agreement with AstraZeneca to deploy Schrödinger’s computational platform.
Revenue by Segment
Forward Guidance
Schrödinger maintains its full-year 2021 financial outlook, expecting total revenue to range from $124 million to $142 million. Software revenue is projected to be between $102 million and $110 million, while drug discovery revenue is expected to be between $22 million and $32 million.
Positive Outlook
- Software revenue growth is expected to be higher in the second half of the year.
- Majority of second half software growth 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.
- Internal pipeline progressing with plans to submit up to three investigational new drug applications to the FDA in 2022
Challenges Ahead
- Drug discovery revenue is expected to be highly variable quarter to quarter.
- Variability is based on the timing of potential milestones related to collaborative agreements.
- Operating expense growth is expected to be higher than the 42% annual growth rate reported in 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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