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Mar 31, 2022
Schrodinger Q1 2022 Earnings Report
Reported a strong first quarter with significant revenue growth.
Key Takeaways
Schrödinger reported a strong first quarter in 2022, with a 51% increase in total revenue to $48.7 million compared to the first quarter of 2021. Software revenue increased by 26% to $33.1 million, and drug discovery revenue saw a substantial increase of 169% to $15.6 million. The company is progressing with its internal pipeline, with an IND submission for SGR-1505 on track for the first half of 2022.
Total revenue increased by 51% year-over-year, reaching $48.7 million.
Software revenue grew by 26% year-over-year, amounting to $33.1 million.
Drug discovery revenue experienced substantial growth, increasing by 169% to $15.6 million.
The company is on track to submit an IND application for its MALT1 inhibitor, SGR-1505, in the first half of 2022.
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 financial outlook for the fiscal year ending December 31, 2022. Total revenue is expected to range from $161 million to $181 million, representing 17% to 31% growth over 2021. Total software revenue is expected to range from $126 million to $136 million, representing 11% to 20% growth over 2021. Total drug discovery revenue is expected to range from $35 million to $45 million, representing 42% to 82% growth over 2021. For the second quarter of 2022, software revenue is expected to range from $28 to $30 million.
Positive Outlook
- Total revenue expected to range from $161 million to $181 million, representing 17% to 31% growth over 2021
- Total software revenue expected to range from $126 million to $136 million, representing 11% to 20% growth over 2021
- Total drug discovery revenue expected to range from $35 million to $45 million, representing 42 to 82 percent growth over 2021
- Operating expense growth is expected to be slightly lower than the 42 percent reported for the year ended December 31, 2021
- Software gross margin percentage is expected to be in the mid-70s
Revenue & Expenses
Visualization of income flow from segment revenue to net income