2022 Financial Outlook
As of February 24, 2022, Schrödinger outlined the following expectations for the fiscal year ending December 31, 2022:
- Total revenue expected to range from $161 million to $181 million, representing 17 percent to 31 percent growth over 2021
- Total software revenue expected to range from $126 million to $136 million, representing 11 percent to 20 percent growth over 2021
- Total drug discovery expected to range from $35 million to $45 million, representing 42 to 82 percent growth over 2021
- Operating expense growth is expected to be slightly lower than the 42 percent reported for the year ended December 31, 2021
- Software gross margin percentage is expected to be in the mid-70s
For the first quarter of 2022, software revenue is expected to range from $28 to $30 million.
2022-2023 Key Strategic Goals
Today, Schrödinger laid out the following strategic objectives for 2022-2023:
- Ongoing growth in adoption and scale up of software platform, with target ACV growth of over 20 percent in 2023
- Inflection in drug discovery revenue in 2023, with target 2023 drug discovery revenue of at least $100 million – excludes potential revenue from partnering the company’s three lead internal programs
- IND submission for the MALT1 program in first half of 2022, IND submission for the CDC7 program in early 2023 and IND submission for the Wee1 program in 2023
- Initiate a Phase 1 clinical study for the MALT1 program in the second half of 2022, and initiate Phase 1 clinical studies for the CDC7 and Wee1 programs in 2023
- Publication of data from internal programs in peer-reviewed forums, including presentation of preclinical data from the Wee1 program in the first half of 2022
- Multiple new internal programs leveraging internal structural biology capabilities
- Materials science collaborations in multiple verticals, such as clean energy and sustainable materials
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