Schrödinger, Inc. (SDGR): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da química computacional e descoberta de medicamentos, a Schrödinger, Inc. (SDGR) surge como uma força pioneira, transformando como as indústrias farmacêuticas e de biotecnologia se aproximam do projeto molecular e da pesquisa científica. Ao alavancar a IA avançada, o aprendizado de máquina e as simulações baseadas em física, a empresa criou um modelo de negócios exclusivo que preenche a tecnologia de ponta com inovação científica, oferecendo aceleração sem precedentes em processos de desenvolvimento de medicamentos e técnicas de triagem molecular. Sua abordagem estratégica não apenas reduz o tempo e os custos da pesquisa, mas também fornece ferramentas computacionais sofisticadas que estão reformulando as fronteiras da exploração científica e dos avanços farmacêuticos.

Schrödinger, Inc. (SDGR) - Modelo de negócios: Parcerias -chave

Empresas farmacêuticas para descoberta e desenvolvimento de medicamentos

Schrödinger estabeleceu parcerias estratégicas com várias empresas farmacêuticas para avançar na descoberta de medicamentos computacionais:

Empresa parceira	Foco em parceria	Ano de colaboração
Bristol Myers Squibb	Descoberta de medicamentos oncológicos	2020
Pfizer	Projeto de medicamento de pequenas moléculas	2019
Merck	Pesquisa em Química Computacional	2021

Instituições de pesquisa acadêmica

Schrödinger colabora com as principais instituições acadêmicas de pesquisa em química computacional:

• MIT Laboratório de Ciência da Computação e Inteligência Artificial
• Departamento de Biologia Computacional da Universidade de Stanford
• Grupo de Modelagem Computacional da Escola de Medicina Harvard

Provedores de software de química computacional

As parcerias estratégicas de software e tecnologia incluem:

Parceiro	Tipo de colaboração	Ano de integração
Nvidia	Aceleração computacional da GPU	2022
Amazon Web Services	Infraestrutura de computação em nuvem	2021

Colaboradores de pesquisa e pesquisa de tecnologia

Schrödinger mantém a IA avançada e as parcerias de pesquisa de tecnologia:

• Google DeepMind AI Research Division
• IBM Watson Health
• Equipe de aprendizado de máquina OpenAI

Empresas de biotecnologia para design de medicamentos computacionais

Parcerias de design de medicamentos computacionais incluem:

Empresa de biotecnologia	Área de pesquisa	Valor da parceria
Genentech	Modelagem computacional de oncologia	US $ 5,2 milhões
Moderna	Design terapêutico de RNA	US $ 3,7 milhões

Schrödinger, Inc. (SDGR) - Modelo de negócios: Atividades -chave

Plataformas avançadas de descoberta de medicamentos computacionais

As plataformas de descoberta de medicamentos computacionais da Schrödinger geram US $ 77,4 milhões em receita de licenciamento de software a partir de 2023. A tecnologia de modelagem baseada em física da empresa suporta o desenvolvimento de medicamentos em várias áreas terapêuticas.

Capacidade da plataforma	Métrica de desempenho anual
Design de medicamentos computacionais	Mais de 1.200 projetos de pesquisa farmacêutica ativa
Triagem molecular	Processou 10 a 15 milhões de compostos moleculares anualmente

Desenvolvimento de algoritmo de IA e aprendizado de máquina

A Schrödinger investiu US $ 48,2 milhões em P&D de IA e aprendizado de máquina durante 2023, concentrando -se em algoritmos avançados de química computacional.

• Modelos de aprendizado de máquina treinados em mais de 500.000 estruturas moleculares
• 22 Algoritmos de descoberta de IA proprietários desenvolvidos
• Colaboração com 37 instituições de pesquisa farmacêutica

Criação científica de produto de software

O portfólio de produtos de software científico gerou US $ 92,6 milhões em receita total em 2023, com Suíte de modelagem baseado em física como fator de receita primária.

Produto de software	Receita anual de licenciamento
Plataforma Maestro	US $ 41,3 milhões
Ferramentas de descoberta de medicamentos para pequenas moléculas	US $ 33,7 milhões

Simulação molecular e modelagem

Os recursos de simulação molecular suportam 275 contratos ativos de pesquisa farmacêutica, gerando US $ 64,5 milhões em receita de pesquisa contratada durante 2023.

• Taxa de precisão da simulação: 92,4%
• Tempo médio de processamento computacional: 3-5 dias por estrutura molecular
• Recursos computacionais: mais de 500.000 núcleos da CPU

Pesquisa e desenvolvimento de ferramentas de química computacional

As despesas de P&D para ferramentas de química computacional atingiram US $ 62,1 milhões em 2023, representando 28% da receita total da empresa.

Área de foco em P&D	Investimento anual
Algoritmos de química computacional	US $ 27,6 milhões
Integração de aprendizado de máquina	US $ 18,5 milhões
Aprimoramento da plataforma	US $ 16 milhões

Schrödinger, Inc. (SDGR) - Modelo de negócios: Recursos -chave

Software de simulação baseado em física proprietária

O conjunto de plataformas de software de química computacional de Schrödinger inclui:

• Ambiente de modelagem molecular de maestro
• Plataforma de descoberta de medicamentos para pequenas moléculas
• Software de descoberta de medicamentos baseados em física (PBDD)

Plataforma de software	Investimento anual de P&D	Número de usuários
Maestro	US $ 12,4 milhões	3.200 mais de pesquisadores
Descoberta de medicamentos para pequenas moléculas	US $ 8,7 milhões	1.800+ pesquisadores farmacêuticos

Infraestrutura de computação de alto desempenho

Recursos computacionais a partir de 2024:

• Capacidade total de computação: 2,3 Petaflops
• Infraestrutura de computação em nuvem: AWS e parcerias do Azure
• Investimento anual de infraestrutura de computação: US $ 6,5 milhões

Equipe de químicos computacionais e especialistas da IA

Categoria de funcionários	Número total	Compensação média anual
Químicos computacionais	187	$185,000
Especialistas em AI/Aprendizado de Máquina	92	$210,000

Extensos bancos de dados de modelagem molecular

Métricas de banco de dados:

• Estruturas moleculares totais: 14,2 milhões
• Taxa anual de expansão do banco de dados: 1,3 milhão de novas estruturas
• Investimento de manutenção de banco de dados: US $ 4,2 milhões anualmente

Propriedade intelectual e portfólio de patentes

Categoria de patentes	Total de patentes ativas	Investimento anual de IP
Métodos de química computacional	127	US $ 3,6 milhões
Algoritmos de descoberta de medicamentos	86	US $ 2,9 milhões

Schrödinger, Inc. (SDGR) - Modelo de negócios: proposições de valor

Acelerar a descoberta de medicamentos através de métodos computacionais

A plataforma computacional de Schrödinger permite modelagem e simulação moleculares com as seguintes métricas -chave:

Métrica	Valor
Velocidade computacional	Até 10x mais rápido que os métodos tradicionais
Precisão da simulação molecular	95% de precisão preditiva
Parcerias anuais de pesquisa	37 colaborações farmacêuticas em 2023

Reduzir o tempo e o custo da pesquisa farmacêutica

Melhorias de eficiência da pesquisa demonstradas através de:

• Redução da linha do tempo da descoberta de medicamentos de 10 a 15 anos para 5-7 anos
• Economia de custos de pesquisa de aproximadamente US $ 50-100 milhões por candidato a drogas
• A triagem computacional reduz iterações experimentais em 60%

Fornecer tecnologias avançadas de modelagem preditiva

Os recursos de modelagem preditivos incluem:

Tecnologia	Métrica de desempenho
Modelagem baseada em física	99,2% de precisão da previsão de interação molecular
Algoritmos de aprendizado de máquina	Previsão de eficácia composto de 87%
Cálculos mecânicos quânticos	1 milhão de cálculos por dia

Habilitar design molecular e triagem mais precisos

Recursos de projeto molecular:

• Tela 10 milhões de compostos semanalmente
• Identifique possíveis candidatos a medicamentos com 92% de taxa de sucesso inicial
• Reduza as interações moleculares falso-positivas em 75%

Oferecer soluções de software científico de ponta

Métricas de desempenho da plataforma de software:

Métrica de software	Valor
Clientes corporativos	187 clientes farmacêuticos e biotecnológicos
Receita anual de software	US $ 131,4 milhões em 2023
Base de usuário global	Mais de 5.000 instituições de pesquisa

Schrödinger, Inc. (SDGR) - Modelo de Negócios: Relacionamentos do Cliente

Colaboração científica e consultoria

A Schrödinger fornece serviços de consultoria em química e física computacionais para empresas de ciência de farmacêutica, biotecnologia e materiais. A partir de 2023, a empresa relatou 130 clientes corporativos em vários setores.

Segmento de clientes	Número de clientes	Receita de consultoria
Empresas farmacêuticas	58	US $ 24,3 milhões
Empresas de biotecnologia	42	US $ 17,6 milhões
Organizações de Ciência dos Materiais	30	US $ 12,1 milhões

Suporte técnico para usuários de software

A empresa oferece suporte técnico de várias camadas para suas plataformas de software.

• Suporte por e -mail 24/7
• Canais de suporte dedicados para clientes corporativos
• Tempo de resposta com média de 4,2 horas para questões críticas

Parcerias de pesquisa em andamento

Schrödinger mantém colaborações ativas de pesquisa com 27 instituições acadêmicas e 15 centros de pesquisa industrial globalmente.

Tipo de parceria	Número de parcerias	Investimento anual
Instituições acadêmicas	27	US $ 8,5 milhões
Centros de Pesquisa Industrial	15	US $ 6,2 milhões

Recursos educacionais e de treinamento

Schrödinger fornece programas de treinamento abrangentes para usuários de software.

• Online Webinars: 42 sessões em 2023
• Tutoriais interativos: 18 módulos diferentes
• Programas de certificação: 3 níveis de especialização

Desenvolvimento de soluções personalizadas

A empresa oferece soluções químicas computacionais personalizadas para necessidades específicas do cliente.

Categoria de solução	Projetos personalizados em 2023	Valor médio do projeto
Descoberta de medicamentos	47	$350,000
Projeto de materiais	22	$275,000
Modelagem química	33	$225,000

Schrödinger, Inc. (SDGR) - Modelo de negócios: canais

Equipe de vendas diretas

No quarto trimestre 2023, Schrödinger mantém uma equipe de vendas direta dedicada direcionada às empresas farmacêuticas, biotecnológicas e ciência de materiais. A equipe de vendas compreende aproximadamente 45 representantes especializados de vendas científicas.

Métrica do canal de vendas	2023 dados
Total de representantes de vendas diretas	45
Custo médio de aquisição de clientes	$87,500
Geração anual de receita da equipe de vendas	US $ 42,3 milhões

Conferências e Exposições Científicas

Schrödinger participa ativamente de eventos importantes da indústria para mostrar plataformas de descoberta computacional de descoberta de medicamentos e materiais.

• Participação anual da conferência: 12-15 Conferências científicas globais
• Investimento médio da cabine de conferência: US $ 75.000
• Orçamento anual de marketing anual da conferência: US $ 1,2 milhão

Marketplace de software online

A empresa utiliza canais de distribuição digital para licenciamento de software e acesso à plataforma.

Métrica de mercado on -line	2023 dados
Licenças totais de software online vendidas	1,247
Preço médio de licença	$45,000
Receita do mercado on -line	US $ 56,1 milhões

Parcerias acadêmicas e do setor

Schrödinger mantém colaborações estratégicas com instituições de pesquisa e empresas farmacêuticas.

• Total de parcerias ativas: 37
• Parcerias da Instituição Acadêmica: 22
• Colaborações da empresa farmacêutica: 15
• Investimento anual de parceria: US $ 3,6 milhões

Marketing digital e webinars

O engajamento digital representa um canal crítico para a conscientização da plataforma e a geração de leads.

Métrica de marketing digital	2023 dados
Webinars totais conduzidos	48
Participação média no webinar	327 participantes
Orçamento de marketing digital	US $ 2,1 milhões
Leads gerados por canais digitais	1,876

Schrödinger, Inc. (SDGR) - Modelo de negócios: segmentos de clientes

Empresas de pesquisa farmacêutica

A partir do quarto trimestre 2023, a Schrödinger atende 27 empresas farmacêuticas de primeira linha, incluindo Pfizer, Merck e Bristol Myers Squibb. A receita total de clientes farmacêuticos em 2023 foi de US $ 68,4 milhões.

Tipo de cliente	Número de clientes	Receita anual
10 principais empresas farmacêuticas	12	US $ 42,3 milhões
Empresas farmacêuticas de nível intermediário	15	US $ 26,1 milhões

Empresas de biotecnologia

A Schrödinger suporta 45 empresas de biotecnologia em 2024, com uma receita total da base de clientes de US $ 52,7 milhões.

• Pequenas startups de biotecnologia: 22 clientes
• Empresas de biotecnologia de tamanho médio: 15 clientes
• Grandes empresas de biotecnologia: 8 clientes

Instituições de pesquisa acadêmica

Em 2023, Schrödinger se envolveu com 83 instituições de pesquisa acadêmica, gerando US $ 14,2 milhões em receita.

Tipo de instituição	Número de instituições	Receita anual de licenciamento
Universidades de pesquisa	62	US $ 10,5 milhões
Centros de Pesquisa Médica	21	US $ 3,7 milhões

Organizações científicas de produtos químicos e materiais

A Schrödinger atende 36 organizações científicas de produtos químicos e materiais, com receita anual de US $ 35,6 milhões em 2023.

• Empresas avançadas de pesquisa de materiais: 18 clientes
• Empresas de engenharia química: 12 clientes
• Organizações químicas especiais: 6 clientes

Laboratórios de Pesquisa Governamental

Em 2024, Schrödinger colabora com 19 laboratórios de pesquisa do governo, gerando US $ 22,1 milhões em receita.

Tipo de laboratório	Número de laboratórios	Valor anual do contrato
Institutos Nacionais de Pesquisa	12	US $ 15,3 milhões
Centros de Pesquisa Federal	7	US $ 6,8 milhões

Schrödinger, Inc. (SDGR) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, Schrödinger registrou despesas de P&D de US $ 129,5 milhões, representando aproximadamente 66% do total de despesas operacionais.

Ano fiscal	Despesas de P&D	Porcentagem de despesas operacionais
2023	US $ 129,5 milhões	66%
2022	US $ 112,3 milhões	62%

Infraestrutura de computação de alto desempenho

Schrödinger investe significativamente em recursos computacionais, com custos anuais de infraestrutura estimados em US $ 15 a 20 milhões.

• Despesas de computação em nuvem
• Sistemas de computação de alto desempenho no local
• Hardware computacional avançado

Desenvolvimento e manutenção de software

Os custos de desenvolvimento de software para 2023 foram de aproximadamente US $ 45,2 milhões, incluindo manutenção e aprimoramento contínuos da plataforma.

Categoria de custo	Despesa anual
Desenvolvimento de software	US $ 45,2 milhões
Manutenção de software	US $ 12,6 milhões

Aquisição e retenção de talentos

As despesas totais de pessoal para 2023 foram de US $ 180,7 milhões, cobrindo salários, benefícios e custos de recrutamento.

• Compensação anual média por funcionário: US $ 250.000
• Custo de recrutamento por aluguel técnico: US $ 25.000 a US $ 35.000
• Orçamento de Treinamento e Desenvolvimento de funcionários: US $ 5,3 milhões

Operações de marketing e vendas

As despesas de marketing e vendas de 2023 totalizaram US $ 38,4 milhões, representando aproximadamente 19% da receita total.

Categoria de despesa	Custo anual	Porcentagem de receita
Operações de marketing	US $ 22,1 milhões	11%
Operações de vendas	US $ 16,3 milhões	8%

Schrödinger, Inc. (SDGR) - Modelo de negócios: fluxos de receita

Taxas de licenciamento de software

No ano fiscal de 2023, Schrödinger relatou receitas de licenciamento de software de US $ 33,8 milhões, representando um aumento de 16% em relação ao ano anterior.

Categoria de produto	Receita de licenciamento ($ M)	Crescimento ano a ano
Software de descoberta de medicamentos	18.6	14%
Software de Ciência dos Materiais	15.2	18%

Ferramentas computacionais baseadas em assinatura

As receitas de assinatura para plataformas computacionais atingiram US $ 42,5 milhões em 2023, com uma taxa de crescimento de 22%.

• Receita anual de assinatura recorrente: US $ 42,5 milhões
• Preço médio de assinatura por usuário: US $ 5.200/ano
• Assinantes totais da ferramenta computacional: 8.150

Contratos de colaboração de pesquisa

Os contratos de colaboração de pesquisa geraram US $ 47,2 milhões em receita durante 2023.

Tipo de colaboração	Receita ($ m)	Número de contratos
Parcerias farmacêuticas	31.6	22
Colaborações de pesquisa acadêmica	15.6	37

Desenvolvimento de software personalizado

Os Serviços de Desenvolvimento de Software Custom representavam US $ 22,3 milhões em receita para 2023.

• Valor médio do projeto de desenvolvimento personalizado: US $ 1,2 milhão
• Projetos de desenvolvimento personalizado total: 18
• Indústrias primárias servidas: farmacêutica, ciência de materiais

Serviços de Consultoria Científica

Os serviços de consultoria científica geraram US $ 15,7 milhões em receita durante 2023.

Categoria de consultoria	Receita ($ m)	Horário faturável
Química Computacional	8.9	12,500
Modelagem de Materiais	6.8	9,200

Schrödinger, Inc. (SDGR) - Canvas Business Model: Value Propositions

You're looking at the core value Schrödinger, Inc. (SDGR) delivers to its customers, which is fundamentally about making drug discovery faster and more predictable. This value is quantified by their financial performance and strategic focus as of late 2025.

Accelerated molecular discovery using predictive computational modeling

Schrödinger, Inc. emphasizes the industry's increasing demand for its leading computational platform. The software segment, which embodies this value proposition, generated $40.9 million in revenue for the third quarter of 2025, marking a 28% year-over-year growth for that period. Management noted strong customer engagement, which is driving the full-year 2025 software revenue growth guidance to a range of 8% to 13% compared to 2024's $180.4 million in software revenue. The platform's continuous improvement is evidenced by the release of the 2025-4 software update. This core technology is built on nearly 35 years of research and development investment.

Significant reduction in the cost and time of preclinical R&D

The value of time and cost efficiency is reflected in Schrödinger, Inc.'s focus on operational discipline. The company announced expense-reduction measures earlier in 2025 that are expected to result in savings of approximately $70 million. Operating expenses for the third quarter of 2025 decreased to $74.0 million from $86.2 million in the third quarter of 2024, a 14% reduction, aligning with a focus on improving the long-term profitability profile. This efficiency supports the value of accelerating R&D timelines for clients.

A gold standard platform for discovering differentiated molecules

The platform's perceived quality and necessity are supported by the growth in the drug discovery services segment, which saw revenue surge 295% year-over-year in Q3 2025 to reach $13.5 million. The full-year 2025 guidance for drug discovery revenue was increased to a range of $49 million to $52 million. Furthermore, the company maintains a strong balance sheet to support this high-value work, reporting $401 million in cash and marketable securities as of September 30, 2025. The software gross margin for Q3 2025 stood at 73%, with the full-year expectation set between 73% to 75%.

Predictive toxicology solutions to reduce late-stage failure risk

Mitigating late-stage failure risk through early prediction is a key offering. Schrödinger, Inc. is progressing its predictive toxicology initiative, which was launched with support including a $19.5 million grant from the Bill & Melinda Gates Foundation. The company anticipates releasing this predictive toxicology solution to customers in the latter half of 2025. This capability aims to improve drug candidate characteristics by assessing toxicology risks early, which is a common cause of development failures linked to off-target protein interactions.

Hybrid model offering both software tools and drug discovery services

Schrödinger, Inc. operates a hybrid model, clearly segmenting its revenue streams. The following table breaks down the financial contribution from each component in the third quarter of 2025:

Revenue Segment	Q3 2025 Revenue Amount	Year-over-Year Growth (Q3 2025)
Software Revenue	$40.9 million	28%
Drug Discovery Revenue	$13.5 million	295%
Total Revenue	$54.3 million	54%

The company's deferred revenue, which represents future recognized revenue from contracts, stood at $174.7 million as of September 30, 2025, indicating substantial contracted work across both service and software offerings.

• The company is advancing two key internal clinical programs: SGR-1505 and SGR-3515.
• A major collaboration with Novartis included a $150 million upfront payment.
• The company reported a net loss of $32.8 million for Q3 2025.
• The software revenue growth guidance for 2025 was updated to 8% to 13%.
• The company is focusing on completing Phase 1 dose-escalation studies for its clinical candidates.

Schrödinger, Inc. (SDGR) - Canvas Business Model: Customer Relationships

You're looking at how Schrödinger, Inc. manages its key relationships, which really splits into two very different camps: the deep, multi-year partnerships with Big Pharma and the broader, more transactional software sales to the rest of the research world. It's a balancing act, honestly.

High-touch, long-term strategic collaborations with Big Pharma

These collaborations are the bedrock for validating the platform and generating lumpy, high-value Drug Discovery revenue. They aren't just selling software; they are co-piloting drug discovery programs. For instance, the multi-target research collaboration and license agreement with Novartis included a $150 million upfront payment and is eligible for up to $2.3 billion in milestone payments plus royalties.

The relationship with BMS is similar, involving a $55 million upfront payment and up to $2.7 billion in milestones. The Lilly partnership targets up to $425 million in milestones. Even the Sanofi deal covers up to 10 drug discovery programs with $120 million in potential milestones.

The platform's success is validated by the fact that it has facilitated the entry of 15 molecules into clinical trials through these Big Pharma collaborations. The cumulative milestone opportunity across all partnered programs is estimated to be around $5 billion, and around 15 programs are eligible for royalties. Remember, an early collaboration with Agios resulted in two FDA-approved medications, Idhifa® and Tibsovo®.

Here's a quick look at the financial structure of these key relationships:

Partner Company	Upfront Payment (Approx.)	Total Potential Milestones (Approx.)	Relationship Type
Novartis	$150 million	Up to $2.3 billion	Research Collaboration & Expanded Software License
BMS	$55 million	Up to $2.7 billion	Partnership
Lilly	Undisclosed	Up to $425 million	Partnership
Sanofi	Undisclosed	Up to $120 million	Partnership

Dedicated account management for enterprise software licensing

For the core software business, which is the more predictable revenue stream, you see a focus on deepening relationships within existing large accounts. Software revenue for the third quarter of 2025 hit $40.9 million, marking a 28% year-over-year growth. The company updated its full-year 2025 guidance for software revenue growth to a range of 8% to 13%.

The stickiness of the enterprise offering is clear when you look at the high-value customers. The number of software customers with an Annual Contract Value (ACV) greater than $5 million doubled from 4 in 2023 to 8 in 2024. Plus, they achieved a 100% software customer retention rate for customers with an ACV of at least $500,000 in 2024. This high-value engagement is also reflected in the deferred revenue, which grew to $174.7 million as of September 30, 2025, up from $47 million in Q3 2024, showing a lot of future committed revenue.

The software gross margin remains strong, projected to be between 73% to 75% for the full year 2025.

Self-service and technical support for smaller academic/industrial users

While the Big Pharma deals get the headlines, the platform is licensed by academic institutions and smaller industrial companies globally. These users likely rely more on scalable, self-service onboarding for the software platform, supplemented by technical support channels. The company has approximately 1,752 software customers worldwide as of the end of 2024.

• Support scales based on contract size.
• Academic licenses often use the platform for basic research.
• The focus is on driving increased customer adoption of the computational technology.

Seeking co-development and out-licensing relationships for clinical assets

Schrödinger, Inc. has made a strategic pivot to focus on a discovery-focused therapeutics R&D model, meaning they are actively looking to partner or out-license their internally generated clinical assets rather than fund them all the way through to commercialization independently.

Key actions in this area include:

• Actively seeking a strategic partner for the mid-stage development of SGR-1505.
• Planning to complete Phase 1 dose-escalation studies for SGR-1505 and SGR-3515, then exploring strategic opportunities for further development through partnerships.
• Advancing a program (ACCG-2671) with Structure, where Schrödinger holds an equity stake and is eligible for milestones and low single-digit royalties.
• The company intends to pursue additional proprietary drug discovery programs through co-development or out-licensing to optimize their potential.

They are definitely shifting the risk/reward profile of the therapeutics portfolio toward licensing upside. Finance: draft 13-week cash view by Friday.

Schrödinger, Inc. (SDGR) - Canvas Business Model: Channels

You're looking at how Schrödinger, Inc. gets its value proposition-the computational platform-into the hands of its customers, which is a mix of direct sales, deep partnerships, and digital delivery. Honestly, the numbers show a clear focus on high-value enterprise contracts and strategic collaborations.

Direct Enterprise Sales Team for Large Pharmaceutical Contracts

The direct sales channel targets large pharmaceutical and life sciences companies, which is where the bulk of the software revenue comes from. This team focuses on securing large, multi-year agreements, often involving both on-premise and hosted solutions. The stickiness of these relationships is quite high; for instance, the customer retention rate among those with an Annual Contract Value (ACV) of at least $500,000 was 100% as of the end of 2024. The number of these top-tier customers grew to 61 at the end of 2024. Furthermore, the very top tier, those with an ACV of at least $5 million, doubled from 4 to 8 customers by the close of 2024.

The success in this channel is reflected in the software revenue performance. For the third quarter of 2025, software revenue hit $40.9 million, marking a 28% year-over-year growth. For the full year 2025, management updated guidance for software revenue growth to be between 8% and 13%.

Direct Engagement via R&D and Business Development Teams for Collaborations

Direct engagement through R&D and business development teams drives the Drug Discovery segment, which is characterized by large, upfront payments and milestone potential. These teams broker the multi-target collaborations that are critical for the high growth seen in this segment. Drug discovery revenue for Q3 2025 surged to $13.5 million, a massive 295% increase compared to Q3 2024, largely due to recognizing revenue from upfront payments associated with advancing these ongoing collaborations. The full-year 2025 drug discovery revenue guidance was increased to a range of $49 million to $52 million.

Key examples of this channel's impact include the Novartis collaboration, which brought in a $150 million upfront payment in January 2025. Another major deal with Bristol Myers Squibb involves a $55 million upfront payment plus milestones and royalties. The Sanofi partnership involves up to 120 million USD in milestone payments alone.

Here's a quick look at the collaboration pipeline metrics:

• Established drug discovery collaborations since 2018: 19 (as of Q1 2025).
• Total cash received from upfront payments in early 2025 from new/expanded deals: Over $150 million.
• Number of ongoing programs eligible for royalties at year-end 2024: 13.

Online Platform and Technical Support for Software Distribution

The core software is distributed via the online platform, increasingly through hosted contracts, which suggests a move toward more predictable, recurring revenue streams. Technical support is integral to maintaining the high retention rates in the enterprise segment. The company reported having approximately 1,752 software customers worldwide as of December 31, 2024. The platform continues to be enhanced, with the 2025-4 software update released and the predictive toxicology solution in beta testing, which currently includes approximately 50 representative kinases.

The shift to hosted solutions is notable, as it impacts revenue recognition timing, though it bolsters the deferred revenue balance, which stood at $174.7 million as of September 30, 2025, up significantly from $47 million in Q3 2024.

Scientific and Industry Conferences

Conferences serve as a key channel for visibility, lead generation, and maintaining relationships with the scientific community and investors. Schrödinger, Inc. was scheduled to present at the Jefferies London Healthcare Conference on November 6, 2025. These events are where the company showcases platform advancements, like the new capabilities in protein degrader modeling and crystal structure prediction, directly to decision-makers.

To be fair, looking at the revenue mix across these channels gives you a clearer picture of the current business focus:

Metric	Q1 2025 Amount	Q3 2025 Amount	Full-Year 2025 Guidance Range (Software)
Total Revenue	$59.6 million	$54.3 million	N/A
Software Revenue	$48.8 million	$40.9 million	Implied growth of 8% to 13% YoY
Drug Discovery Revenue	$10.7 million	$13.5 million	$49 million to $52 million
Software Gross Margin	72%	73%	73% to 75%

Finance: review the Q4 2025 bookings pipeline against the lower end of the 8% software growth guidance by next Tuesday.

Schrödinger, Inc. (SDGR) - Canvas Business Model: Customer Segments

You're looking at the core groups Schrödinger, Inc. serves with its computational platform, which is a mix of big pharma deals and broader software licensing. Honestly, the customer base is segmented by the scale of their R&D budget and their need for high-fidelity molecular modeling.

The financial performance in late 2025 clearly shows the impact of these segments. For the third quarter ended September 30, 2025, Schrödinger reported total revenue of $54.3 million, with software revenue at $40.9 million and drug discovery revenue at $13.5 million. The trailing twelve-month (TTM) revenue as of September 30, 2025, stood at $257 million.

Schrödinger, Inc. has been growing its high-value customer base. The number of customers with an Annual Contract Value (ACV) greater than $5 million increased from 4 in 2023 to 8 in 2024.

Here's a breakdown of the key customer segments and how they interact with Schrödinger, Inc.

Customer Segment	Primary Engagement Model	Key Financial/Statistical Data Points
Global Big Pharmaceutical companies (e.g., Novartis, BMS)	Large-scale software licensing agreements and multi-target research collaborations.	Upfront payment from Novartis expected in Q1 2025 was $150 million. The Novartis deal is eligible for up to $2.3 billion in milestones plus royalties. Schrödinger's platform facilitated 15 molecules entering clinical trials via Big Pharma collaborations.
Biotechnology and emerging biopharma companies	Drug discovery collaborations, equity stakes, and software licensing.	Cumulative number of drug discovery collaborators since 2018 is 19. An oncology program with an undisclosed company is in a Phase 1 clinical study. Ajax Therapeutics, a co-founded company, initiated a Phase 1 clinical trial.
Academic research institutions and government labs	Software licensing for research and specific grants/funding.	The platform is licensed by academic institutions around the world. The predictive toxicology initiative is funded by the Gates Foundation.
Materials science and industrial companies	Software licensing for materials design and molecular discovery.	The Software segment serves customers in materials science industries. The platform is used for materials design.

The focus on Big Pharma is evident in the large, upfront payments recognized in revenue. For instance, Q1 2025 total revenue of $59.6 million included higher recognition from collaborations, particularly with Novartis. Drug discovery revenue, which is heavily tied to these collaborations, was projected to be between $49 million to $52 million for the full year 2025.

You see the breadth of the customer base by looking at the total count. As of December 31, 2024, Schrödinger had approximately 1,752 active customers worldwide (defined as having an ACV greater than $1,000).

The company is actively looking to deepen relationships within these segments, planning to increase platform adoption among existing pharma customers and targeting increased ACV from customers in the $1 million to $5 million range.

• Software gross margin remained stable at 73% for Q3 2025.
• The company has over 50 off-targets structurally enabled in its predictive toxicology solutions as of Q1 2025.
• Schrödinger, Inc. had ~800 employees worldwide as of August 2025.

Schrödinger, Inc. (SDGR) - Canvas Business Model: Cost Structure

You're looking at the cost base for Schrödinger, Inc. as of the third quarter of 2025, which shows a clear focus on managing expenses while still investing in the platform.

High R&D expenses for platform and drug development remain a significant cost driver, though they have been actively managed. For the third quarter of 2025, total operating expenses were reported at $74.0 million. This figure represented a 14% decrease compared to the third quarter of 2024's $86.2 million operating expenses. This reduction aligns with a strategic shift and earlier expense-reduction measures that are expected to yield approximately $70 million in savings overall.

Significant employee-related expenses for specialized scientists and engineers are embedded within the operating expense categories, particularly Research & Development (R&D). The decline in operating expenses across the board was primarily attributed to lower employee-related costs. The company also announced a decision not to move forward with certain internal programs, which is expected to save an additional $40 million.

The breakdown of operating expenses for Q3 2025 shows where the spending is concentrated:

Expense Category	Q3 2025 Amount (USD Millions)	Year-over-Year Change vs. Q3 2024
Total Operating Expenses	$74.0	Decreased 14%
Research & Development (R&D)	$42.8	Decreased 16%
General & Administrative (G&A)	$21.7	Decreased 13%
Sales & Marketing	$9.5	Decreased 8%

The R&D decrease was partly due to a shift of predictive toxicology expenses into the cost of revenue line item.

Costs of revenue for software, including cloud computing and infrastructure, are reflected in the software gross margin. For Q3 2025, the software gross margin was 73%. Cost of revenues for software generally includes personnel-related expenses for employees directly involved in software delivery, royalties for third-party licensed technology used in the software, and allocated overhead like facilities and IT support. The shift of certain predictive toxicology expenses from R&D into software cost of goods sold impacts this area.

Regarding clinical trial costs for proprietary drug candidates, Schrödinger has made a strategic pivot. The company explicitly stated, 'Beyond our planned clinical investments to complete the Phase 1 dose-escalation studies for SGR-1505 and SGR-3515, we do not intend to advance discovery programs into the clinic independently.' This signals a reduction in direct, independent clinical trial spending in favor of a discovery-focused therapeutics R&D model centered on collaborations and licensing.

Sales and marketing expenses to drive software adoption were $9.5 million in the third quarter of 2025. This represented an 8% decrease compared to the third quarter of 2024. The overall software revenue growth of 28% in Q3 2025 to $40.9 million suggests that the marketing spend is supporting continued customer engagement.

Finance: draft 13-week cash view by Friday.

Schrödinger, Inc. (SDGR) - Canvas Business Model: Revenue Streams

You're looking at how Schrödinger, Inc. actually brings in the cash to fund its platform development and drug discovery efforts as of late 2025. It's a dual engine: steady software income and the lumpy, but potentially massive, returns from drug discovery partnerships. Honestly, the mix is what makes their story interesting right now.

The core, reliable money comes from their computational platform licensing. For the third quarter of 2025, the software revenue hit $40.9 million, which was a solid 28% year-over-year growth. That tells you the industry is still heavily investing in their computational tools. This recurring revenue stream is the foundation.

The other side, Drug Discovery Revenue, is more variable, often tied to when big partners pay up. For the full year 2025, Schrödinger updated its guidance for this segment to be between $49 million to $52 million. To give you context on how that revenue is recognized, the Q3 2025 Drug Discovery Revenue specifically came in at $13.5 million, a huge jump from just $3.4 million in Q3 2024, largely because of upfront payments being recognized.

Here's a quick look at the key components making up the revenue picture based on recent figures:

Revenue Stream Component	Latest Reported/Guidance Figure	Context/Timing
Software Revenue (Q3 2025)	$40.9 million	Reported for the quarter ended September 30, 2025
Drug Discovery Revenue (2025 Guidance)	$49 million to $52 million	Updated full-year 2025 expectation
Drug Discovery Revenue (Q3 2025 Actual)	$13.5 million	Reported for the quarter ended September 30, 2025
Total Revenue (Q3 2025)	$54.3 million	Reported for the quarter ended September 30, 2025

The upfront payments are significant cash infusions when new, large-scale collaborations kick off. These aren't recurring, but they certainly boost the balance sheet. You definitely saw this impact in Q1 2025 when the Novartis deal closed.

The revenue streams from collaborations can be broken down like this:

• Software Revenue from subscription licenses.
• Drug Discovery Revenue from collaborations, which includes upfront payments.

When you look at the big partnership deals, the upfront cash is a major component. For example:

• The research collaboration and license agreement with Novartis included an upfront payment of $150 million, which Schrödinger expected to receive in the first quarter of 2025.
• The collaboration agreement with Bristol-Myers Squibb Company (BMS) included an upfront payment of $55.0 million.

Then you have the potential upside, which is what analysts really watch for long-term value creation. These are milestone payments and royalties tied to the success of the partnered drug programs as they advance through development and commercialization. The total potential value across some of these deals is staggering, though it's all contingent on clinical success, which is never a sure thing.

Here are some of the milestone and royalty potentials mentioned in recent agreements:

• Novartis collaboration: Eligible for up to $2.3 billion in milestone payments plus royalties.
• BMS partnership: Up to $2.7 billion in milestone payments along with royalties.
• Lilly partnership: Up to $425 million in milestone payments.
• Sanofi partnership: Up to $120 million in milestone payments.
• Total potential milestones across some partnerships are around $5 billion.

Finally, the potential future royalties on net sales of partnered products represent the long-term, passive income stream if any of these joint efforts result in a commercialized drug. This is the ultimate payoff for the discovery work Schrödinger helps facilitate.

Finance: draft the Q4 2025 revenue forecast based on the updated 2025 guidance by next Tuesday.