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Dec 31, 2023
Schrodinger Q4 2023 Earnings Report
Schrödinger reported strong Q4 2023 financial results, achieving a 44% increase in software revenue and a 30.4% increase in total revenue compared to Q4 2022.
Key Takeaways
Schrödinger's Q4 2023 total revenue increased by 30.4% to $74.1 million, with software revenue up 43.6% to $68.7 million. The company's net loss for the quarter was $30.7 million. The company expects software revenue growth of 6% to 13% in 2024.
Total revenue for the fourth quarter increased 30.4% to $74.1 million.
Software revenue for the fourth quarter increased 43.6% to $68.7 million.
Software gross margin increased to 87% for the fourth quarter.
Net loss for the fourth quarter was $30.7 million.
Schrodinger
Schrodinger
Schrodinger Revenue by Segment
Revenue by Segment
Software Products and Services Revenue
CapyFin.comDrug Discovery Revenue
CapyFin.com Forward Guidance
Schrödinger provided its financial outlook for 2024. Software revenue growth is expected to range from 6% to 13%. Drug discovery revenue is expected to range from $30 million to $35 million. Operating expense growth in 2024 is expected to range from 8% to 12%.
Positive Outlook
- Software revenue growth is expected to range from 6% to 13%.
- Drug discovery revenue is expected to range from $30 million to $35 million.
- Software gross margin is expected to be similar to software gross margin for the full year 2023.
- Operating expense growth in 2024 is expected to range from 8% to 12%.
- For the first quarter of 2024, software revenue is expected to range from $33 million to $35 million.
Challenges Ahead
- Cash used for operating activities in 2024 is expected to be above cash used for operating activities in 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income