Schrodinger jumps on Q4 revenue beat

Schrodinger

01/03/2023 15:48

** Shares of Schrodinger Inc  SDGR.O  rise 21.3% to $26.35 
    ** The healthcare-based software co late on Tuesday posted
Q4 revenue of $56.8 million ahead of analysts' estimates of
$47.4 million
    ** The beat was driven by revenue from its software business
of $48 million, helped by deal closings and renewals in Q4;
consensus estimate was $37 million
    ** Jefferies says 2023 forecast, especially for the first
quarter, looks conservative
    ** Brokerage adds that internal cancer pipeline early but
progressing; estimates data later out in 2024 due to slow
recruitment
   ** Co lost ~46% last year

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))