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Sep 30, 2022
Schrodinger Q3 2022 Earnings Report
Reported strong third quarter results with total revenue growth driven by drug discovery portfolio progress, narrowed full-year revenue guidance with mix shifting toward drug discovery, and advanced clinical and preclinical programs.
Key Takeaways
Schrödinger reported a strong third quarter with software revenue in line with expectations and strong drug discovery revenue. The company initiated a Phase 1 study for its MALT1 program and is preparing to present new preclinical data from its CDC7 program. The company's total revenue increased by 24% compared to Q3 2021.
Total revenue increased by 24% year-over-year, reaching $37.0 million.
Drug discovery revenue saw a significant increase of 121% compared to the same quarter last year, amounting to $12.3 million.
Initiated Phase 1 clinical trial of MALT1 inhibitor, SGR-1505, for patients with relapsed or refractory B-cell malignancies.
New preclinical data for CDC7 inhibitor, SDGR-2921, will be presented at the American Society of Hematology 2022 Annual Meeting.
Schrodinger
Schrodinger
Schrodinger Revenue by Segment
Revenue by Segment
Software Products and Services Revenue
CapyFin.comDrug Discovery Revenue
CapyFin.com Forward Guidance
Schrödinger narrowed its total revenue guidance for 2022 to a range of $167 million to $175 million, representing growth of 21% to 27% over 2021. The company expects software revenue to range from $122 million to $127 million and drug discovery revenue to range from $45 million to $48 million.
Positive Outlook
- Total revenue is now expected to range from $167 million to $175 million, representing growth of 21 percent to 27 percent over 2021.
- Total software revenue is now expected to range from $122 million to $127 million, representing eight percent to 12 percent growth over 2021.
- Total drug discovery revenue is now expected to range from $45 million to $48 million, representing 82 percent to 94 percent growth over 2021.
- Software gross margin percentage is still expected to be in the mid-70s.
- Operating expense growth is now expected to be approximately 40 percent for 2022
Revenue & Expenses
Visualization of income flow from segment revenue to net income