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NEW YORK--(BUSINESS WIRE)---- $SDGR #BunsenAI--Schrödinger, Inc. today announced the launch of its early access version of Bunsen, its new agentic AI co-scientist.

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NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) will report its second quarter 2026 financial results on Wednesday, August 5, 2026, after the financial markets close. The company will host a conference call and webcast at 4:30 p.m. ET.

The live webcast can be accessed in the “Investors” section of Schrödinger’s website and will be archived for approximately 90 days following the event.

About Schrödinger
Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

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NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today reported that on July 16, 2026, the company granted restricted stock units (RSUs) with respect to 3,691 shares of the company's common stock to four newly hired employees. These grants were made pursuant to the company's 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company's board of directors, and were made as a material inducement to.

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NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today reported that on June 12, 2026, the company granted restricted stock units (RSUs) with respect to 10,771 shares of the company’s common stock to seven newly hired employees. These grants were made pursuant to the company’s 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company’s board of directors, and were made as a material inducement to such employees’ acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The RSUs vest over four years, with 25 percent of such RSUs vesting when such employee completes 12 months of continuous service measured from the vesting commencement date, and the balance of the RSUs vesting in a series of successive equal yearly installments of 1/4 of the original number of RSUs upon each such employee’s completion of each additional year of service over the three-year period following the first anniversary of the vesting commencement date.

The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company’s 2021 Inducement Equity Incentive Plan.

About Schrödinger

Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. Founded in 1990, Schrödinger has approximately 800 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

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NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today reported that on March 14, 2026, the company granted (i) a non-statutory stock option to purchase 1,950 shares of the company’s common stock to one newly hired employee and (ii) restricted stock units (RSUs) with respect to 4,375 shares of the company’s common stock to two newly hired employees. These grants were made pursuant to the company’s 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company’s board of directors, and were made as a material inducement to such employees’ acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The stock option has an exercise price of $12.51 per share, equal to the closing price of the company’s common stock on March 13, 2026. The stock option has a ten-year term and vests over four years, with 25 percent of the shares underlying the option vesting when such employee completes 12 months of continuous service measured from the employment start date and the balance of the shares vesting in a series of successive equal monthly installments of 1/48 of the original number of shares upon the employee’s completion of each additional month of service over the 36-month period following the first anniversary of the employment start date.

The RSUs vest over four years, with 25 percent of such RSUs vesting when such employee completes 12 months of continuous service measured from the vesting commencement date, and the balance of the RSUs vesting in a series of successive equal yearly installments of 1/4 of the original number of RSUs upon each such employee’s completion of each additional year of service over the three-year period following the first anniversary of the vesting commencement date.

The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company’s 2021 Inducement Equity Incentive Plan.

About Schrödinger

Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. Founded in 1990, Schrödinger has approximately 800 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

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Schrodinger, Inc. (NASDAQ: SDGR - Get Free Report) has been given an average recommendation of "Hold" by the nine ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company.

Posted by Defense World Staff on Apr 19th, 2026

Schrodinger, Inc. (NASDAQ:SDGR – Get Free Report) CEO Ramy Farid sold 43,000 shares of the company’s stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $12.33, for a total value of $530,190.00. Following the transaction, the chief executive officer directly owned 330,824 shares in the company, valued at $4,079,059.92. The trade was a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ramy Farid also recently made the following trade(s):

On Thursday, March 5th, Ramy Farid sold 3,661 shares of Schrodinger stock. The shares were sold at an average price of $12.91, for a total value of $47,263.51. Schrodinger Trading Up 2.3% NASDAQ:SDGR opened at $12.34 on Friday. The firm has a market capitalization of $910.94 million, a price-to-earnings ratio of -8.69 and a beta of 1.62. Schrodinger, Inc. has a 1-year low of $10.94 and a 1-year high of $27.63. The business’s fifty day moving average price is $11.98 and its 200 day moving average price is $16.02.

Schrodinger (NASDAQ:SDGR – Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.57. The firm had revenue of $87.24 million for the quarter, compared to analyst estimates of $83.66 million. Schrodinger had a negative return on equity of 29.47% and a negative net margin of 40.37%.Schrodinger’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.24) earnings per share. Equities analysts forecast that Schrodinger, Inc. will post -2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth Several brokerages have weighed in on SDGR. Wall Street Zen raised Schrodinger from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Schrodinger in a research report on Friday, January 9th. TD Cowen reaffirmed a “buy” rating on shares of Schrodinger in a research report on Thursday, January 8th. UBS Group dropped their target price on Schrodinger from $18.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Finally, KeyCorp dropped their target price on Schrodinger from $25.00 to $20.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.50.

Get Our Latest Stock Analysis on Schrodinger

Institutional Inflows and Outflows Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Schrodinger by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 6,464,426 shares of the company’s stock valued at $115,584,000 after acquiring an additional 125,349 shares during the last quarter. Rubric Capital Management LP increased its holdings in shares of Schrodinger by 5.4% during the 3rd quarter. Rubric Capital Management LP now owns 5,268,817 shares of the company’s stock valued at $105,692,000 after acquiring an additional 268,817 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Schrodinger by 3.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,714,767 shares of the company’s stock valued at $84,300,000 after acquiring an additional 160,198 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Schrodinger by 12.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,717,890 shares of the company’s stock valued at $66,476,000 after acquiring an additional 414,231 shares during the last quarter. Finally, Amova Asset Management Americas Inc. increased its holdings in shares of Schrodinger by 6.8% during the 4th quarter. Amova Asset Management Americas Inc. now owns 2,819,670 shares of the company’s stock valued at $50,359,000 after acquiring an additional 180,735 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.

Schrodinger Company Profile (Get Free Report)

Schrödinger, Inc is a life sciences and materials discovery company that specializes in the application of physics-based computational platforms to accelerate drug discovery and advanced materials design. Founded in 1990 by Professor Richard A. Friesner, Schrödinger has developed a suite of proprietary software tools—such as Maestro for molecular modeling, Glide for molecular docking and Jaguar for quantum chemistry calculations—that enable scientists to predict molecular behavior with high accuracy.

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On April 22, 2026, Schrodinger Inc SDGR shares fell 4.1% today, bringing the current price to $12.35. The stock has experienced a 52-week range between $10.95 and $27.63, reflecting significant volatility and a downward trend over the past year.

GF Value™ verdict: Current price of $12.35 vs GF Value™ of $28.77, indicating a 57.1% upside.GF Score™: 69/100, which suggests the stock is performing above average relative to its peers.Most notable signal: Insiders sold $1.4M in the last 3 months, with no buying activity reported. Is SDGR Overvalued or Undervalued? According to the GF Value™, Schrodinger Inc is currently undervalued, with a fair value estimate of $28.77 compared to its current price of $12.35. This represents a significant margin of safety of 57.1%. Despite the apparent undervaluation, the GF Valuation label indicates that SDGR may be a possible value trap, suggesting investors should approach with caution. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

The current undervaluation of SDGR presents a potential opportunity for investors who are willing to navigate the risks associated with the company's financial strength and historical performance. However, it is crucial to consider the current market conditions and the stock's recent performance, which shows a year-to-date decline of 30.9% and a staggering 52.5% drop over the past year.

How Does SDGR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) Not Available 55.5x Since the P/E (TTM) for Schrodinger Inc is not currently available, this section cannot provide a direct comparison with its historical valuation. However, the historical 5-year median P/E of 55.5x suggests that if the stock were to gain traction, it could potentially exceed its previous valuation levels. This lack of data means that the P/E analysis does not directly affirm or contradict the GF Value™ verdict of undervaluation.

What Does SDGR's GF Score™ Tell Us? Metric Rating GF Score™ 69 Financial Strength 5/10 Profitability 3/10 Growth 9/10 Valuation 2/10 Momentum 4/10 The GF Score™ of 69/100 indicates that Schrodinger Inc is performing above average compared to its peers, primarily driven by its strong growth rank of 9/10. However, areas of concern include its financial strength (5/10) and valuation rank (2/10), suggesting that while the company has growth potential, it may struggle with profitability and current valuation metrics.

What Are Insiders Doing with SDGR Stock? Recent insider activity shows that insiders have sold $1.4 million worth of shares in the last three months, with no buying reported. This trend may indicate a lack of confidence among insiders regarding the company's short-term performance. The absence of insider buying could be a red flag for potential investors, as it suggests that those closest to the company do not see immediate value at current price levels.

What This Means for Investors Based on the GF Value™ analysis, Schrodinger Inc is currently undervalued. However, potential investors should be cautious due to the company's financial strength and the warning of a possible value trap. The significant insider selling further complicates the investment outlook, suggesting that while the stock may present a buying opportunity, it comes with considerable risks.

For the complete analysis, visit the Schrodinger Inc SDGR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is SDGR's GF Score™?

SDGR's GF Score™ is 69/100, indicating that the stock is performing above average relative to its peers based on key metrics.

Is SDGR overvalued or undervalued?

SDGR is currently undervalued with a GF Value™ of $28.77 compared to its current price of $12.35, suggesting a significant upside potential.

What is SDGR's P/E ratio?

The P/E ratio for SDGR is not currently available; however, its historical 5-year median P/E is 55.5x, indicating that the stock has previously traded at higher valuation levels.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

First Quarter ACV of $28 Million, Representing 12% Growth

Continued Momentum in Transition to Hosted Software Licensing

Schrödinger to Launch Bunsen, an Agentic AI Co-Scientist, This Summer

Lilly’s Announced $2.3 Billion Acquisition of Ajax Validates Schrödinger’s Track Record of High-Value Collaborations

NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today announced financial results for the quarter ended March 31, 2026.

“Our first quarter results show strong growth in both ACV and drug discovery revenue. ACV growth of 12 percent was driven by usage scale-ups and new deployments; we are also pleased with our progress transitioning customers to hosted licensing. The biopharmaceutical funding environment is improving, and the depth of customer engagement reflects the critical importance of our computational platform that integrates ground truth simulation with leading edge AI. We have a strong commitment to technology leadership and are excited about the release this summer of Bunsen, an agentic AI co-scientist designed to autonomously execute complex molecular discovery workflows and expand utilization to a broader user base,” said Ramy Farid, Ph.D., chief executive officer of Schrödinger. “We also continue to see the impact of our platform through the success of our co-founded companies. Lilly’s announced acquisition of Ajax Therapeutics, in which we have an approximately six percent equity stake, marks another multi-billion dollar acquisition of a Schrödinger co-discovered molecule. This milestone reinforces the strength of our platform, team and integrated business model.”

First Quarter 2026 Operating and Financial Highlights (comparisons are to first quarter 2025, unless otherwise noted)

ACV was $28.4 million, a 12% increase, and $201 million on a trailing four-quarter basis. Software revenue was $35.6 million, a 21% decrease, reflecting the company’s planned accelerated transition to hosted software licensing. Drug discovery revenue was $22.9 million compared to $10.2 million, due to the accelerated recognition of deferred revenue associated with the continued progress of the company’s collaboration portfolio and the discontinuation of one collaboration program. Contribution revenue was $0.1 million, compared to $4.3 million, primarily due to completion of the predictive toxicology grant. Total revenue was $58.6 million, a 2% decrease. Software gross margin was 69%, reflecting the company’s planned accelerated transition to hosted software licensing. Operating expenses were $78.3 million, a 4% decrease. Other expenses, which include changes in fair value of equity investments and interest income/expense, were $10.8 million. Net loss was $60.0 million, compared to $59.8 million. Cash, cash equivalents, restricted cash and marketable securities were $406 million at the end of the first quarter of 2026. Schrödinger now presents contribution revenue and cost of revenue separately from software and drug discovery revenue and cost of revenues. Prior periods have been reclassified to conform to this presentation to facilitate year-over-year comparability.

2026 Financial and Operational Outlook

As of May 5, 2026, Schrödinger maintained its previously issued financial guidance for the fiscal year ending December 31, 2026:

ACV is expected to range from $218 million to $228 million, representing 10-15% growth over 2025. Drug discovery revenue is expected to range from $55 million to $65 million. Operating expenses are expected to be less than 2025. For the second quarter of 2026, ACV is expected to range from $19 million to $23 million, exclusive of contribution ACV, compared to $23.3 million in the second quarter of 2025, which included $5.0 million of contribution ACV.

Recent Highlights

Platform

Today Schrödinger announced plans for release of an early-access version of Bunsen, its new agentic AI co-scientist, this summer. Bunsen autonomously executes complex molecular discovery workflows, expanding the user base and enhancing productivity across Schrödinger’s industry-leading computational platform. Bunsen allows for greater throughput and utilization of Schrödinger’s predict-first approaches, accelerating discovery timelines and improving project outcomes. Schrödinger’s materials science and therapeutics teams have been using Bunsen internally to enhance productivity across research projects. In April, researchers at Schrödinger and Bristol Myers Squibb published the discovery of a series of potent sterile alpha and TIR motif containing 1 (SARM1) inhibitors as a potential treatment for neurodegenerative diseases. The inhibitors were identified through a unique workflow for free-energy perturbation (FEP+). This computational approach identified molecules with unique binding properties while establishing precise dose levels to optimize safety profiles. In March, researchers at Schrödinger and Lilly published a simulation method that predicts the viscosity and injectability of antibody-based drugs by mapping interactions between individual amino acids. This computational approach replaces resource-intensive physical experiments by identifying the specific points of contact where proteins interact with one another. By computationally determining how different additives improve drug consistency, the new method can significantly accelerate the development of subcutaneous treatments. Therapeutics Portfolio

In April, Ajax Therapeutics, a company co-founded by Schrödinger, announced its sale to Lilly for up to $2.3 billion in cash, inclusive of an upfront payment and subsequent payments upon the achievement of certain clinical and regulatory milestones. AJ1-11095, an investigational, once-daily oral, first-in-class Type II JAK2 inhibitor, was designed in collaboration with Schrödinger. As of December 31, 2025, Schrödinger had a 5.8% equity stake in Ajax. Schrödinger is exploring strategic partnerships for mid-and late-stage development of SGR-1505, its differentiated MALT1 inhibitor, and SGR-3515, its Wee1/Myt1 dual inhibitor. In April, Schrödinger presented preliminary Phase 1 clinical data for SGR-3515 at the American Association for Cancer Research (AACR) Annual Meeting. The initial data demonstrated that SGR-3515 was generally well-tolerated on an intermittent dosing schedule and achieved a 65% disease control rate among evaluable participants at doses of 100 mg or higher. Data most recently presented at the American Society of Hematology (ASH) Annual Meeting demonstrated that SGR-1505 was generally well tolerated and clinically active in patients with relapsed/refractory B-cell malignancies, including a 100% response rate in patients with Waldenström macroglobulinemia (WM). SGR-1505 has FDA Fast Track and Orphan Drug Designations for WM.

In March, Structure Therapeutics, a collaborator and company co-founded by Schrödinger, announced positive topline results from its Phase 2 clinical program for aleniglipron, its once-daily oral GLP-1 receptor agonist for the treatment of obesity. Schrödinger has an equity stake in Structure. Webcast and Conference Call Information

Schrödinger will host a conference call to discuss its first quarter 2026 financial results on Tuesday, May 5, 2026, at 4:30 p.m. ET. The live webcast can be accessed under “Events & Presentations" in the investors section of Schrödinger’s website, https://ir.schrodinger.com/news-and-events/event-calendar. To participate in the live call, please register for the call here. It is recommended that participants register at least 15 minutes in advance of the call. Once registered, participants will receive the dial-in information. The archived webcast will be available on Schrödinger’s website for approximately 90 days following the event.

Non-GAAP Information

Included in this press release is certain financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (GAAP). The company presents adjusted EBITDA, which is a non-GAAP financial measure. Adjusted EBITDA is defined as net income (loss) before interest, taxes, depreciation, amortization, and stock-based compensation expense, and further adjusted to exclude gains and losses on equity investments, changes in fair value of equity investments, restructuring costs, litigation and settlement expenses, and, when applicable, other non-recurring items that management does not consider indicative of ongoing operating performance.

Management believes adjusted EBITDA is a useful measure for investors, taken in conjunction with the company’s GAAP financial statements because they provide greater period-over-period comparability with respect to the company’s operating performance, by excluding the effects of capital structure, tax impacts, non-cash depreciation and amortization, non-cash equity compensation expense, non-cash mark-to-market and other valuation adjustments for the company’s equity investments, non-recurring cash distributions from the company’s equity investments, and other non-recurring items that are not reflective of the ongoing performance of the business. However, adjusted EBITDA as a non-GAAP financial measure should be considered only in addition to, not as a substitute for or as superior to, net income (loss) or other financial measures prepared in accordance with GAAP.

Other companies in Schrödinger’s industry may calculate adjusted EBITDA differently than Schrödinger does, limiting their usefulness as comparative measures. For a reconciliation of adjusted EBITDA to GAAP net income (loss), please refer to the tables at the end of this press release.

About Schrödinger

Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

Operating Metrics

To supplement the financial measures presented in this press release and related conference call or webcast in accordance with generally accepted accounting principles in the United States (GAAP), Schrödinger also presents certain other performance metrics, such as annual contract value, or ACV, and ACV by certain industries and customer cohorts.

Annual Contract Value (ACV). Schrödinger tracks the ACV for each customer. With respect to contracts that have a duration of one year or less, or contracts of more than one year in duration that are billed annually, ACV is defined as the contract value billed during the applicable period. For contracts with a duration of more than one year that are billed upfront, ACV in each period represents the total billed contract value divided by the term. ACV should be viewed independently of revenue and does not represent revenue calculated in accordance with GAAP on an annualized basis, as it is an operating metric that can be impacted by contract execution start and end dates and renewal rates. ACV is not intended to be a replacement for, or forecast of, revenue.

ACV by Cohorts. Schrödinger tracks ACV by certain industries and customer cohorts. These cohorts include contribution, which consists of customers from which we derive contribution revenue. We present this ACV separately because it relates to grant agreements accounted for as non-exchange contributions, rather than commercial software contracts. The operating metrics for the cohorts are not prepared in accordance with GAAP and do not correspond to the company’s reportable segments or the allocation of costs for GAAP purposes. These metrics allow management to better understand differences in sales cycles, contract duration, deployment models, renewal behavior, and expansion opportunities among customer and industry groups, supplementing but not replacing Schrödinger’s GAAP results.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those statements regarding Schrödinger’s expectations about the speed and capacity of its computational platform, its financial outlook for the fiscal year ending December 31, 2026, and second quarter ending June 30, 2026, its plans to continue to invest in research and its strategic plans to accelerate the growth of its software licensing business and advance its collaborative and proprietary drug discovery programs, the long-term potential of its business, its ability to improve and advance the science underlying its platform, the initiation, timing, progress, and results of its proprietary drug discovery programs and product candidates and the drug discovery programs and product candidates of its collaborators, the clinical potential and favorable properties of SGR-1505 and SGR-3515, its MALT1 and Wee1/Myt1 inhibitors, its plans to explore strategic opportunities for the continued clinical development of SGR-1505 and SGR-3515, potential partnering and other business development activities for its programs, the clinical potential and favorable properties of its collaborators’ product candidates, expectations relating to the potential of, and the timing of release of, Bunsen, its agentic AI co-scientist, the ability for the company to realize potential benefits from its collaborative programs, including the amount and timing of additional milestones, if any, as well as expectations related to the use of its cash, cash equivalents and marketable securities. Statements including words such as “aim,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and statements in the future tense are forward-looking statements. These forward-looking statements reflect Schrödinger’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and important factors that are beyond Schrödinger’s control, including the demand for its software platform, its ability to further develop its computational platform, its reliance upon third-party providers of cloud-based infrastructure to host its software solutions, its ability to transition customers to hosted software deployments, factors adversely affecting the life sciences industry, fluctuations in the value of the U.S. dollar and foreign currencies, its reliance upon its third-party drug discovery collaborators, the uncertainties inherent in drug development and commercialization, such as the conduct of research activities and the timing of and its ability to initiate and complete preclinical studies and clinical trials, whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials, uncertainties associated with the regulatory review of investigational new drug application submissions, clinical trials and applications for marketing approvals, the ability to retain and hire key personnel and other risks detailed under the caption “Risk Factors” and elsewhere in the company’s Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the Securities and Exchange Commission on May 5, 2026, as well as future filings and reports by the company. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, Schrödinger undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.

  Condensed Consolidated Statements of Operations (Unaudited)

(in thousands, except for share and per share amounts)

  Three Months Ended
March 31,

2026

2025

Revenues:

Software products and services

$

35,560

$

44,972

Drug discovery

22,879

10,236

Contribution

148

4,343

Total revenues

58,587

59,551

Cost of revenues:

Software products and services

10,863

9,112

Drug discovery

16,310

14,452

Contribution

1,867

4,863

Total cost of revenues

29,040

28,427

Gross profit

29,547

31,124

Operating expenses:

Research and development

43,824

45,844

Sales and marketing

11,603

10,367

General and administrative

22,914

25,802

Total operating expenses

78,341

82,013

Loss from operations

(48,794

)

(50,889

)

Other (expense) income:

Change in fair value of equity investments

(13,487

)

(13,095

)

Other income

2,663

4,204

Total other expense

(10,824

)

(8,891

)

Loss before income taxes

(59,618

)

(59,780

)

Income tax expense

408

28

Net loss

$

(60,026

)

$

(59,808

)

Net loss per share of common and limited common stockholders, basic and diluted:

$

(0.81

)

$

(0.82

)

Weighted average shares used to compute net loss per share of common and limited common stockholders, basic and diluted:

73,989,137

73,057,916

  Condensed Consolidated Balance Sheets (Unaudited)

(in thousands, except for share and per share amounts)

  Assets

March 31, 2026

December 31, 2025

Current assets:

Cash and cash equivalents

$

260,255

$

230,517

Restricted cash

7,464

6,868

Marketable securities

138,704

164,947

Accounts receivable, net of allowance for doubtful accounts of $440 and $440

27,253

83,041

Unbilled and other receivables, net of allowance for unbilled receivables of $140 and $140

20,930

21,352

Prepaid expenses

9,353

12,540

Total current assets

463,959

519,265

Property and equipment, net

20,447

19,456

Equity investments

39,826

73,647

Goodwill

4,791

4,791

Right of use assets - operating leases

100,198

102,736

Other assets

4,966

6,265

Total assets

$

634,187

$

726,160

Liabilities and Stockholders' Equity:

Current liabilities:

Accounts payable

$

11,945

$

11,452

Accrued payroll, taxes, and benefits

24,776

39,264

Deferred revenue

103,111

112,853

Lease liabilities - operating leases

16,013

16,412

Other accrued liabilities

13,697

9,155

Total current liabilities

169,542

189,136

Deferred revenue, long-term

59,019

78,877

Lease liabilities - operating leases, long-term

90,943

92,816

Other liabilities, long-term

1,135

1,278

Total liabilities

320,639

362,107

Stockholders' equity:

Preferred stock, $0.01 par value. Authorized 10,000,000 shares; zero shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

—

—

Common stock, $0.01 par value. Authorized 500,000,000 shares; 65,383,310 and 64,515,380 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

654

645

Limited common stock, $0.01 par value. Authorized 100,000,000 shares; 9,164,193 shares issued and outstanding at March 31, 2026 and December 31, 2025, respectively

92

92

Additional paid-in capital

1,001,662

992,015

Accumulated deficit

(688,832

)

(628,806

)

Accumulated other comprehensive (loss) income

(28

)

107

Total stockholders' equity

313,548

364,053

Total liabilities and stockholders' equity

$

634,187

$

726,160

  Condensed Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

  Three Months Ended March 31,

2026

2025

Cash flows from operating activities:

Net loss

$

(60,026

)

$

(59,808

)

Adjustments to reconcile net loss to net cash (used in) provided by operating activities:

Change in fair value of equity investments

13,487

13,095

Depreciation and amortization

1,476

1,589

Stock-based compensation

9,073

11,574

Noncash investment accretion

(664

)

(861

)

Loss on disposal of property and equipment

11

—

Decrease (increase) in assets:

Accounts receivable, net

55,788

215,345

Unbilled and other receivables

422

(6,332

)

Reduction in the carrying amount of right of use assets - operating leases

2,538

2,222

Prepaid expenses and other assets

4,486

(788

)

Increase (decrease) in liabilities:

Accounts payable

455

1,344

Accrued payroll, taxes, and benefits

(14,488

)

(20,616

)

Deferred revenue

(29,600

)

(10,804

)

Lease liabilities - operating leases

(2,272

)

(1,669

)

Other accrued liabilities

4,480

(228

)

Net cash (used in) provided by operating activities

(14,834

)

144,063

Cash flows from investing activities:

Purchases of property and equipment

(2,507

)

(596

)

Proceeds from disposition and sale of equity investments, net

20,334

—

Purchases of marketable securities

(34,055

)

(27,556

)

Proceeds from maturity of marketable securities

60,827

58,784

Net cash provided by investing activities

44,599

30,632

Cash flows from financing activities:

Proceeds from issuances of common stock upon stock option exercises

583

423

Principal payments on finance leases

(14

)

(14

)

Net cash provided by financing activities

569

409

Net increase in cash and cash equivalents and restricted cash

30,334

175,104

Cash and cash equivalents and restricted cash, beginning of period

237,385

162,657

Cash and cash equivalents and restricted cash, end of period

$

267,719

$

337,761

Supplemental disclosure of cash flow and noncash information

Cash paid for income taxes

$

266

$

139

Supplemental disclosure of non-cash investing and financing activities

Purchases of property and equipment in accounts payable

78

13

Purchases of property and equipment in accrued liabilities

—

25

  Reconciliation of GAAP Net Loss to Adjusted EBITDA (Unaudited)

(in thousands)

  Three Months Ended

March 31,

2026

2025

Net loss (GAAP)

$

(60,026

)

$

(59,808

)

Change in fair value of equity investments

13,487

13,095

Other income

(2,663

)

(4,204

)

Income tax expense

408

28

Depreciation and amortization

1,476

1,589

Stock-based compensation

9,073

11,574

Reorganization expense (a)

589

—

Litigation and settlement expense (b)

—

390

Adjusted EBITDA

$

(37,656

)

$

(37,336

)

Schrödinger, Inc. (SDGR) Q1 2026 Earnings Call Transcript

-

NEW YORK--(BUSINESS WIRE)--Schrödinger, Inc. (Nasdaq: SDGR) today reported that on May 18, 2026, the company granted (i) a non-statutory stock option to purchase 1,875 shares of the company’s common stock to one newly hired employee and (ii) restricted stock units (RSUs) with respect to 18,766 shares of the company’s common stock to seven newly hired employees. These grants were made pursuant to the company’s 2021 Inducement Equity Incentive Plan, were approved by the compensation committee of the board of directors pursuant to a delegation by the company’s board of directors, and were made as a material inducement to such employees’ acceptance of employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4) as a component of his or her employment compensation.

The stock option has an exercise price of $12.05 per share, equal to the closing price of the company’s common stock on May 18, 2026. The stock option has a ten-year term and vests over four years, with 25 percent of the shares underlying the option vesting when such employee completes 12 months of continuous service measured from the employment start date and the balance of the shares vesting in a series of successive equal monthly installments of 1/48 of the original number of shares upon the employee’s completion of each additional month of service over the 36-month period following the first anniversary of the employment start date.

The RSUs vest over four years, with 25 percent of such RSUs vesting when such employee completes 12 months of continuous service measured from the vesting commencement date, and the balance of the RSUs vesting in a series of successive equal yearly installments of 1/4 of the original number of RSUs upon each such employee’s completion of each additional year of service over the three-year period following the first anniversary of the vesting commencement date.

The inducement grants are subject to the terms and conditions of award agreements covering the grants and the company’s 2021 Inducement Equity Incentive Plan.

About Schrödinger

Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. Founded in 1990, Schrödinger has approximately 800 employees operating from 15 locations globally. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

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