SDGR Schrodinger, Inc.
Price Chart
Executive Summary
Schrödinger reported Q1 2026 total revenue of $58.6M (down 2% YoY but 23% above consensus), GAAP EPS of -$0.81 (vs consensus -$0.56, a miss), and maintained full-year ACV guidance of $218-228M. Software revenue declined 21% due to the planned hosted transition, but ACV grew 12%. Drug discovery revenue doubled to $22.9M. Positive catalysts include the Ajax Therapeutics sale for up to $2.3B (5.8% stake) and the upcoming Bunsen AI launch.
Key Financial Metrics
Actionable Insight
The mixed Q1 results (revenue beat but EPS miss) combined with maintained guidance may lead to volatility. Focus on ACV trajectory as a more reliable forward indicator than GAAP software revenue during the hosted transition. The Ajax acquisition and Bunsen launch are positive sentiment drivers but may not offset near-term software revenue declines. Watch Q2 ACV guidance of $19-23M (down from $23.3M in Q2 2025, excluding contribution) for signals on underlying demand.
Key Facts
- Total revenue $58.6M, down 2% YoY; consensus $47.6M (beat)
- GAAP EPS -$0.81 vs consensus -$0.56 (miss of ~45%)
- ACV $28.4M, +12% YoY (guidance maintained: $218-228M FY2026)
- Software revenue $35.6M, -21% (shift to hosted licensing)
- Drug discovery revenue $22.9M, +124% (deferred revenue pull-forward)
- Net loss $60.0M vs $59.8M (slightly wider)
- Operating cash flow -$14.8M vs +$144M in Q1 2025
- Cash & equivalents $406M; equity investments $39.8M
- Ajax Therapeutics sale to Lilly for up to $2.3B (SDGR 5.8% stake)
- Bunsen agentic AI co-scientist planned for summer 2026 release
- Q2 2026 ACV guidance: $19-23M (vs $23.3M in Q2 2025, which had $5M contribution)
- Maintained 2026 outlook: ACV growth 10-15%, drug discovery $55-65M, opex less than 2025
Financial Impact
Revenue beat of ~$11M (23%) vs consensus but EPS miss of $0.25 per share; net loss roughly flat YoY; guidance unchanged.
Risk Factors
- GAAP software revenue likely to continue declining as hosted transition accelerates, masking ACV growth
- EPS miss versus consensus could pressure the stock despite revenue beat
- Dependence on drug discovery milestones for revenue variability
- Cash burn from operations (negative operating cash flow) could increase if drug discovery payments shift
- Equity investment valuations (Ajax, Structure) may introduce volatility in other income
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001490978-26-000036 |
| Document: sdgr-20260505.htm | 0001490978-26-000036 |
| Document: 0001490978-26-000036-index-headers.html | 0001490978-26-000036 |
| Document: 0001490978-26-000036-index.html | 0001490978-26-000036 |
| Document: 0001490978-26-000036.txt | 0001490978-26-000036 |
| 8-K Data (Synthetic) | 0001490978-26-000036 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 20, 2026
23d ago
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8-K
| $13.23 $14.16 | ▲ +7.03% | ▲ +5.43% | $14.45 (+9.22%) |
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May 5, 2026
5w ago
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8-K
| $12.98 $12.69 | ▼ −2.23% | ▼ −3.37% | $14.45 (+11.33%) |
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Apr 16, 2026
8w ago
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Insider Cluster
| $12.06 $11.41 | ▲ +5.39% | ▲ +6.37% | $14.45 (−19.82%) |
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Mar 4, 2026
14w ago
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Insider Cluster
| $13.12 $12.73 | ▼ −2.97% | ▼ −1.64% | $14.45 (+10.14%) |
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Feb 25, 2026
15w ago
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8-K
| $11.80 $13.12 | ▲ +11.19% | ▲ +12.29% | $14.45 (+22.46%) |
US Market Status
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