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Dec 31, 2022
Schrodinger Q4 2022 Earnings Report
Reported strong fourth quarter and full-year results, achieving 31% annual total revenue growth.
Key Takeaways
Schrödinger's Q4 2022 saw a 23% increase in total revenue to $56.8 million, with software revenue up 24% to $47.8 million and drug discovery revenue at $9.0 million. The company reported a net loss of $27.2 million for the quarter. They anticipate continued revenue growth and reduced cash burn in 2023.
Total revenue for the fourth quarter increased 23% to $56.8 million.
Software revenue for the fourth quarter increased 24% to $47.8 million.
Drug discovery revenue was $9.0 million for the fourth quarter.
Net loss for the fourth quarter was $27.2 million.
Schrodinger
Schrodinger
Schrodinger Revenue by Segment
Revenue by Segment
Drug Discovery Revenue
CapyFin.com Forward Guidance
Schrödinger provided the following expectations for the fiscal year ending December 31, 2023. For the first quarter of 2023, software revenue is expected to range from $31 million to $35 million, and drug discovery revenue is expected to range from $30 million to $34 million.
Positive Outlook
- Software revenue growth is expected to be in the range of 13 to 17 percent
- Drug discovery revenue is expected to range from $70 million to $90 million
- Software gross margin is expected to be similar to software gross margin for the full year 2022
- Operating expense growth in 2023 is expected to be significantly lower than operating expense growth in 2022 and to be similar to revenue growth in 2023
- Cash used for operating activities in 2023 is expected to be below cash used for operating activities in 2022