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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.
Revenue by Segment
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
Historical Earnings Impact
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Avg. Return Before/After Earnings
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