Mike [Analyst]'s questions to Schrodinger Inc (SDGR) leadership • Q3 2024
Question
Mike [Analyst], represented by Matt, asked for the key drivers behind the confident updated software guidance and the specific contribution from the Novartis deal.
Answer
CFO Geoff Porges explained that Q4 is historically a large quarter for software revenue, typically 42-44% of the annual total. He confirmed the Novartis deal is a significant component but not the only one, citing ongoing renewal discussions with multiple other companies. Porges stated confidence is high due to being well into the quarter, with the final revenue result depending on the mix of contract types and terms.