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