Schrodinger, Inc.
For the period ended Dec 31, 2025. Filed Feb 25, 2026.
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FY2025 · Filed Feb 25, 2026
SDGR$32.41-2.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows for the Years ended
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(103,265) | $(187,123) | $40,720 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities: | |||
| Gain on equity investments | — | — | (147,213) |
| Changes in fair value of equity investments | (48,174) | (5,683) | (53,461) |
| Depreciation and amortization | 6,022 | 6,159 | 5,552 |
| Stock-based compensation | 42,997 | 49,903 | 47,841 |
| Noncash investment accretion | (1,867) | (7,592) | (7,761) |
| Loss on disposal of property and equipment | 20 | 8 | 142 |
| Decrease (increase) in assets: | |||
| Accounts receivable, net | 152,651 | (169,700) | (10,039) |
| Unbilled and other receivables | (1,711) | 3,483 | (9,987) |
| Reduction in the carrying amount of right of use assets - operating leases | 9,147 | 8,942 | 7,766 |
| Prepaid expenses and other assets | (2,445) | (3,482) | (8,462) |
| Increase (decrease) in liabilities: | |||
| Accounts payable | 908 | (6,119) | 7,321 |
| Accrued payroll, taxes, and benefits | (2,846) | 10,347 | 6,881 |
| Deferred revenue | (29,028) | 155,484 | (18,256) |
| Lease liabilities - operating leases | (8,601) | (10,053) | (3,694) |
| Other accrued liabilities | 91 | (1,942) | 5,917 |
| Net cash provided by (used in) operating activities | 13,899 | (157,368) | (136,733) |
| Cash flows from investing activities: | |||
| Purchases of property and equipment | (1,442) | (7,311) | (13,403) |
| Purchases of equity investments | — | (3,072) | (4,125) |
| Distribution from equity investment | — | — | 147,213 |
| Proceeds from sale and disposition of equity investments | 17,735 | 48,798 | — |
| Purchases of marketable securities | (312,959) | (251,339) | (320,624) |
| Proceeds from maturity of marketable securities | 354,564 | 361,760 | 383,973 |
| Net cash provided by investing activities | 57,898 | 148,836 | 193,034 |
| Cash flows from financing activities: | |||
| Proceeds from issuances of common stock upon stock option exercises | 2,989 | 1,490 | 9,440 |
| Proceeds from issuance of common stock in ATM offering | — | 8,868 | — |
| Payment of offering costs | — | (177) | (373) |
| Principal payments on finance leases | (58) | (58) | (19) |
| Net cash provided by financing activities | 2,931 | 10,123 | 9,048 |
| Net increase in cash and cash equivalents and restricted cash | 74,728 | 1,591 | 65,349 |
| Cash and cash equivalents and restricted cash, beginning of year | 162,657 | 161,066 | 95,717 |
| Cash and cash equivalents and restricted cash, end of year | $237,385 | $162,657 | $161,066 |
| Supplemental disclosure of non-cash investing and financing activities | |||
| Purchases of property and equipment in accounts payable | $40 | $162 | $192 |
| Purchases of property and equipment in accrued liabilities | 81 | 157 | 457 |
| Acquisition of right of use assets - operating leases, contingency resolution | — | 2,848 | 514 |
| Acquisition of right of use assets in exchange for lease liabilities - operating leases | — | — | 15,085 |
| Acquisition of right of use assets in exchange for lease liabilities - finance leases | — | — | 279 |
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