Schrödinger, Inc. reported a total revenue of $58.6 million for the first quarter of 2026, a slight decrease of 2% compared to $59.6 million in the same period of 2025. The company's software products and services revenue fell by 21% to $35.6 million, down from $45.0 million, primarily due to a decline in on-premise software sales as customers transitioned to hosted solutions. In contrast, drug discovery revenue surged by 124% to $22.9 million, up from $10.2 million, driven by increased recognition of revenue from existing collaborations.
The company's net loss for the quarter was $60.0 million, compared to a loss of $59.8 million in the prior year. This loss was attributed to ongoing investments in research and development, which totaled $43.8 million, a decrease from $45.8 million in the previous year. Operating expenses overall decreased by 4% to $78.3 million, reflecting cost management efforts, particularly in general and administrative expenses, which fell by 11% to $22.9 million.
In terms of strategic developments, Schrödinger has been actively pursuing collaborations to enhance its drug discovery capabilities. Notably, the company is engaged in a partnership with Novartis, which includes a research collaboration and license agreement with potential milestone payments totaling up to $2.272 billion. Additionally, the company is advancing its proprietary drug discovery programs, including ongoing Phase 1 clinical trials for its SGR-1505 and SGR-3515 candidates.
Operationally, Schrödinger reported a total of 73.9 million weighted average shares outstanding, with a cash position of $406.4 million as of March 31, 2026. The company continues to focus on expanding its software solutions and drug discovery initiatives, with an annual contract value (ACV) of $28.4 million for the quarter, up from $25.4 million in the previous year. Looking ahead, Schrödinger anticipates that its existing cash reserves will be sufficient to fund operations for at least the next 24 months, while also exploring strategic partnerships to further its drug development programs.
About Schrodinger, Inc.
Schrödinger, Inc. develops physics-based computational software for drug discovery and materials science. Its platform accelerates molecule design, prediction, and optimization, serving biopharmaceutical, industrial, and academic markets worldwide. The company collaborates with leading pharma firms, licensing its solutions and advancing proprietary drug programs. Its competitive edge lies in high-accuracy simulations, large-scale molecule evaluation, and a broad pipeline of collaborative and internal therapeutics.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.