Schrödinger reported second quarter 2026 total revenue of $58.9 million, an 8% increase year-over-year, beating analyst expectations. The company reported a net income of $6.0 million, or $0.08 per share, a significant improvement from a net loss of $43.2 million in the same period last year, and well ahead of consensus estimates for a loss.
Key Highlights
- Drug discovery revenue grew to $23.0 million from $13.9 million, driven by a $10 million collaboration milestone from the acquisition of Ajax Therapeutics.
- The company reported a surprise net income of $6.0 million, heavily influenced by $48.9 million in other income primarily from a gain related to Eli Lilly's acquisition of Ajax Therapeutics.
- Software revenue declined 10% to $32.5 million, reflecting the ongoing transition to a hosted licensing model, though Annual Contract Value (ACV) grew 27% to $29.6 million.
- The company raised its full-year 2026 drug discovery revenue guidance to a range of $65 million to $75 million, up from a prior range of $55 million to $65 million.