Schrödinger, Inc. Provides Earnings Guidance for the Second Quarter of 2024 and Fiscal Year Ending December 31, 2024
May 01, 2024 at 09:00 pm
Share
Schrödinger, Inc. provided earnings guidance for the second quarter of 2024 and fiscal year ending December 31, 2024. For the year, 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.
For the second quarter of 2024, software revenue is expected to range from $31 million to $33 million.
Schrodinger, Inc. operates a physics-based computational platform that enables the discovery of molecules for drug development and materials applications. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. The Company operates through two segments: Software and Drug Discovery. The Software segment is focused on selling its software to transform drug discovery across the life sciences industry, as well as to customers in materials science industries. The Drug Discovery segment is focused on building a diverse portfolio of preclinical and clinical programs, internally and through collaborations, that have advanced to various stages of discovery and development. The Company's pipeline of drug discovery programs includes SGR-1505 (MALT1 Inhibitor), SGR-2921 (CDC7 Inhibitor), SGR-3515 (WEE1 Inhibitor). Its software was used by researchers around the world at more than 1,760 academic institutions.
SCHRÖDINGER, INC. 
