Schrodinger Inc. (SDGR) Tops Q2 EPS by 55c, misses on revenue, provides outlook

Schrodinger Inc. (NASDAQ: SDGR) reported Q2 EPS of $0.06, $0.55 better than the analyst estimate of ($0.49). Revenue for the quarter came in at $35.2 million versus the consensus estimate of $38.4 million.

2023 Financial Outlook:

As of August 2, 2023, Schrödinger provided the following updated expectations for the fiscal year ending December 31, 2023:

Software revenue growth is expected to be in the range of 15 percent to 18 percent.
Drug discovery revenue is now expected to range from $50 million to $70 million, compared to the prior expectation of $70 million to $90 million. This updated range reflects the company’s new expectations for the timing of collaboration milestones and for the completion of new business development activity.
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.
Cash used for operating activities in 2023 is expected to be below cash used for operating activities in 2022.

For earnings history and earnings-related data on Schrodinger Inc. (SDGR) click here.

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