Schrodinger Inc. (NASDAQ: SDGR) reported Q2 EPS of ($0.66), $0.19 better than the analyst estimate of ($0.85). Revenue for the quarter came in at $47.3 million versus the consensus estimate of $39.39 million.

2024 Financial Outlook

Today Schrödinger updated its 2024 full-year guidance for software gross margin and operating expense growth and maintained its other financial guidance. The company’s financial expectations for the fiscal year ending December 31, 2024, are as follows:

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 now expected to be slightly lower than 2023 and in the range of 2022 based on the effect of the research grant from the Bill & Melinda Gates Foundation.
Operating expense growth in 2024 is now expected to range from 8% to 10%.
Cash used for operating activities in 2024 is expected to be above cash used for operating activities in 2023.

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