Schrödinger, Inc. continued to post a net loss in 2020 even as its top line registered a double-digit increase, the company reported in a press release.
- Net loss after adjusting for non-controlling interests at $11.1 million in the fourth quarter of 2020 versus a net loss of $6.8 million; Full-year net loss at $24.5 million versus net loss of $24.6 million.
- Revenues up 28% to $33.0 million in the fourth quarter; Full-year up 26% to $108.1 million. Growth was attributed to the continued uptake of core technologies and enterprise solution LiveDesign.
- The company ended 2020 with a 22% growth in total annual contract value to $921 million.
- Schrödinger expects revenues to range from $124 million to $142 million for 2021. Software revenues are seen to range from $102 million to $110 million; drug discovery revenue to range from $22 million to $32 million.
- Chief financial officer Joel Lebowitz said the balance sheet and growing revenue will allow for more investments in the platform and internal pipeline.