Schrödinger Q3 revenue falls 17% to $35.3 million; net loss narrows to $38.1 million
Schrödinger reported third-quarter 2024 total revenue of $35.3 million, down from $42.6 million a year earlier, while software revenue rose 10%. The net loss narrowed to $38.1 million from $62.0 million, mainly due to changes in the fair value of equity investments, and the company raised the low end of its 2024 software revenue growth guidance. The company also said Novartis will pay $150 million upfront under a new collaboration.
Key points
- Total revenue fell 17% to $35.3 million; software revenue rose 10% to $31.9 million, while drug discovery revenue fell to $3.4 million from $13.7 million.
- Software gross margin decreased to 73% from 76%; operating expenses rose to $86.2 million from $79.8 million.
- 2024 software revenue growth guidance is now 8% to 13%; drug discovery revenue guidance is $20 million to $30 million.
- Novartis will pay Schrödinger $150 million upfront under a multi-target collaboration announced November 12, 2024.
The filing
Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 12, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.