Loading...
Loading...
- Schrödinger Inc SDGR posted Q3 sales of $29.9 million, +16% Y/Y, missing the consensus of $31.58 million.
- Software revenue was $24.3 million, +6% primarily due to increased sales from existing customers and the addition of new customers, partially offset by multi-year contracts executed in Q3 FY20.
- Drug discovery revenue was $5.6 million, compared to $2.9 million a year ago, and it included the recognition of $4.4 million of revenue from the collaboration with Bristol Myers Squibb & Co BMY.
- Software gross margin was 73%, down from 81% a year ago, reflecting planned investments and increased royalty expenses in the quarter.
- Operating expenses increased to $45.8 million, compared to $30.7 million in Q3 FY20.
- Schrödinger posted a Q3 EPS loss of $(0.49), missing the consensus of $(0.43) and a turnaround from the income of $0.06.
- The company held cash and equivalents of $600.2 million.
- Guidance: Schrödinger revised the upper end of FY21 sales guidance and forecasts revenue of $124 million - $134 million, compared to earlier guidance of $124 million - $142 million, below the consensus of $138.49 million.
- The company is maintaining its full-year software revenue expectation of $102 million - $110 million.
- It lowered its full-year drug discovery revenue expectation to $22 million - $24 million, from the earlier expectation of $22 million - $32 million, primarily due to the timing of anticipated milestones from collaborators.
- Price Action: SDGR shares are down 15.4% at $43.29 during the premarket session on the last check Thursday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in