Schrodinger Inc’s Revenue by Segment (2019-2022)

This statistic highlights Schrodinger Inc’s Revenue by Segment from Q1 2019 onwards, split across drug discovery, and software products and services.

Schrodinger Inc’s Revenue by Segment

(All figures are in millions, except percentages)

Overview

The above table depicts the amount of quarterly revenue earned by different segments of the company from 2020 to 2021. Overall software products and services continue to dominate the revenue share of the company. Drug discovery saw a decrease in revenue from Q2 2021 to Q3 2021.

Drug Discovery

The company uses its computational platform for drug discovery programs. This segment is primarily focused on raising revenue and building a diverse portfolio of programs, both internal as well as collaborative. They generate drug discovery revenue from collaborations, which include upfront payments, research funding payments and discovery and development milestones. In the future, they plan on deriving drug discovery revenue in the form of option fees and royalties on commercial drug sales.

Where this segment contributes 19% to the total share of revenue in Q3 2021, the revenue in this segment has seen a sharp increase from $2.94 million in Q3 2020 to $5.57 million in Q3 2021. A slight decline in revenue is seen from Q2 2021 to Q3 2021 since drug discovery revenues are highly variable since they are dependent on the timing of milestones related to collaborative agreements

Software Products and Services

The company’s software segment is based on licensing the company’s software to help transform the process of drug development in life sciences as well as material science industries. This segment raises revenue in various software product licenses, hosted software subscriptions, software maintenance, professional services, and contributions. The software is sold in 2 ways:

1. Through a product license that enables the customers to install the software directly for a specified term.
2. A subscription that allows customers to access the cloud-based software.

The revenue from this segment has seen a steady increase throughout the years and contributes 81% to the total revenue share as of Q3 2021. The revenue has risen from $22.86 million in Q3 2020 to $24.28 million in Q3 2021.

About the company

Schrodinger offers its customers a variety of software solutions to its customers majorly biopharmaceutical and industrial companies, academic institutions, and government laboratories. Their software helps in drug development without incurring huge costs. Schrodinger also engages in internal drug discovery programs with an aim to rapidly advance the discovery of best-in-class therapies. Collaborating on drug discovery programs is an important part of their business but their main goal is to pursue an increasing number of wholly-owned programs.

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