Loading...
•
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.
Schrodinger
Schrodinger
Schrodinger Revenue by Segment
Revenue by Segment
Software Products and Services Revenue
CapyFin.comDrug Discovery Revenue
CapyFin.com 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.
- Software gross margin is expected to be lower than the 81% reported in 2020.
- Net loss, after adjusting for non-controlling interests, was $0.0 million for the first quarter of 2021, compared to a net loss of $13.8 million in the first quarter of 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income