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Jun 30, 2022
Schrodinger Q2 2022 Earnings Report
Reported a 29% increase in total revenue compared to Q2 2021, with software revenue up by 25% and drug discovery revenue up by 48%.
Key Takeaways
Schrödinger reported strong second-quarter results with total revenue reaching $38.5 million, a 29% increase year-over-year. Software and drug discovery segments contributed to this growth, and the company's cash position remained strong. The investigational new drug application for the MALT1 inhibitor, SGR-1505, was cleared for Phase 1 clinical development.
Total revenue increased by 29% year-over-year, reaching $38.5 million.
Software revenue grew by 25% compared to the second quarter of 2021, amounting to $30.0 million.
Drug discovery revenue increased by 48% compared to the second quarter of 2021, reaching $8.5 million.
The company's investigational new drug application for its MALT1 inhibitor, SGR-1505, has been cleared to proceed to Phase 1 clinical development.
Schrodinger
Schrodinger
Schrodinger Revenue by Segment
Revenue by Segment
Software Products and Services Revenue
CapyFin.comDrug Discovery Revenue
CapyFin.com Forward Guidance
Schrödinger maintained its financial outlook for the fiscal year ending December 31, 2022. For the third quarter of 2022, software revenue is expected to range from $23 million to $25 million.
Positive Outlook
- 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.
- Software gross margin percentage is expected to be in the mid-70s.
Revenue & Expenses
Visualization of income flow from segment revenue to net income