Schrodinger Inc. (SDGR) shares plummeted 5.17% in Friday's intraday trading session, following the company's disappointing full-year 2024 earnings report. The healthcare technology company reported a net loss of $187.1 million, or a loss of $2.58 per share, for the fiscal year ended December 31, 2024. This marks a significant decline from the previous year when Schrodinger reported a profit of $40.7 million, or $0.57 per share.
While Schrodinger's revenue for FY2024 reached $207.5 million, beating analyst estimates by 2.6%, the reported earnings per share missed expectations by 6.9%. The company's revenue also decreased by 4.2% compared to the previous year, reflecting the challenges faced in the healthcare services industry.
Investors reacted negatively to the earnings miss, sending Schrodinger's stock price tumbling in Friday's trading session. The company's shares were already down 7.3% from a week ago, indicating growing concerns about its financial performance. As a result, the stock experienced a significant plummet, reflecting the market's disappointment with Schrodinger's FY2024 results.
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