NEWS ER
Schrödinger Reports Third Quarter 2024 Financial Results
Schrödinger (SDGR) reported Q3 2024 financial results with total revenue of $35.3 million, down from $42.6 million in Q3 2023. Software revenue increased 10% to $31.9 million, while drug discovery revenue decreased to $3.4 million. The company announced a new collaboration with Novartis, receiving $150 million upfront with potential milestone payments up to $2.3 billion. Operating expenses rose to $86.2 million, and net loss was $38.1 million. The company updated its 2024 guidance, projecting software revenue growth of 8-13% and drug discovery revenue between $20-30 million.
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