Schrödinger Slips 5% On Wider-than-expected Q2 Loss, Revenue Outlook Below View

(RTTNews) - Shares of life sciences and materials science company Schrödinger, Inc. (SDGR) are down more than 5% in the morning trade on Thursday following second-quarter results.

The company reported net loss of $34.64 million or $0.49 per share in the second quarter, wider than net loss of $3.35 million or $0.05 per share in the same quarter a year ago, on higher expenses.

Revenue was $29.78 million for the second quarter, a 29 percent increase compared to the second quarter of last year.

On average, 4 analysts polled by Thomson Reuters expected the company to report net loss of $0.33 per share on revenue of $29.88 million in the second quarter.

Schrödinger expects full-year revenue to range from $124 million to $142 million. The consensus estimate stands at $138.82 million.

"Schrödinger continues to aggressively fund R&D to advance its technology and drug discovery pipeline. The company continues to expect operating expense growth to be higher than the 42 percent annual growth rate reported in 2020 and expects software gross margin to be lower than the 81 percent reported in 2020," Schrödinger said.

SDGR, currently at $59.40, has traded in the range of $46.27- $117 in the last one year.