Schrodinger (SDGR) FY2024 results: revenue $208 million, down 4.2% on the year

Schrodinger, Inc. (SDGR) reported revenue of $208 million for fiscal 2024, the year ended 31 December 2024, down 4.2% on the year before. Net income was -$187 million, and diluted earnings per share $-2.57. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.

Revenue

$208 million

-4.2% on the year

FY2019FY2024

Operating margin

-100.8%

-81.9% a year earlier

FY2019FY2024

Net income

-$187 million

FY2019FY2024

Diluted EPS

-$2.57

FY2019FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	208	217	181	-4.2%
Cost of revenue	75.5	76.0	79.9	-0.7%
Gross profit	132	141	101	-6.1%
Gross margin	63.6%	64.9%	55.8%
Research and development	202	182	126	+11.0%
Operating income	-209	-177	-147
Operating margin	-100.8%	-81.9%	-81.1%
Pre-tax income	-186	42.9	-149
Income tax	1.4	2.2	0.1	-35.8%
Effective tax rate	n/a	5.1%	n/a
Net income	-187	40.7	-149
Net margin	-90.2%	18.8%	-82.4%
Diluted EPS	-$2.57	$0.54	-$2.10

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	-157	-137	-120
Capital expenditure	7.3	13.4	8.0	-45.5%
Free cash flow	-165	-150	-128
Free cash flow margin	-79.3%	-69.3%	-70.6%
Cash from investing	149	193	90.0	-22.9%
Cash from financing	10.1	9.0	2.1	+11.9%
Depreciation and amortisation	6.2	5.6	4.3	+10.9%
Share-based compensation	49.9	47.8	39.6	+4.3%
Diluted shares, weighted	73m	75m	71m	-3.1%
Shares outstanding at period end	n/a	63m	62m

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	421	549	448	-23.2%
Non-controlling interest	n/a	0.0	0.0
Debt	0.0	0.0	0.0
Operating lease liabilities	101	111	105	-9.0%
Other liabilities	301	143	135	+109.7%
Total liabilities and equity	823	803	689	+2.5%
Fixed assets	n/a	n/a	14.2
Goodwill	4.8	4.8	4.8	0.0%
Intangible assets	n/a	0.0	0.6
Investments	205	308	361	-33.4%
Cash and equivalents	147	155	90.5	-5.1%
Receivables	236	66.0	56.0	+257.2%
Other assets	231	269	162	-14.3%
Total assets	823	803	689	+2.5%

10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.