Quarterly ResultMay 5, 2026, 04:13 PM
Lilly Acquires Schrödinger Co-Founded Ajax for $2.3B; Q1 Net Loss $60M
AI Summary
Schrödinger announced that Lilly will acquire Ajax Therapeutics, a company co-founded by Schrödinger with a 5.8% equity stake, for up to $2.3 billion, validating its computational platform. For Q1 2026, the company reported a net loss of $60.0 million on total revenue of $58.6 million, a 2% decrease year-over-year. ACV grew 12% to $28.4 million, while software revenue decreased 21% due to a planned transition to hosted licensing. Schrödinger also plans to launch Bunsen, an agentic AI co-scientist, this summer and maintained its 2026 financial guidance.
Key Highlights
- Lilly to acquire Schrödinger co-founded Ajax Therapeutics for up to $2.3 billion.
- Q1 2026 net loss was $60.0 million, compared to $59.8 million in Q1 2025.
- Total revenue for Q1 2026 decreased 2% to $58.6 million.
- Annual Contract Value (ACV) grew 12% to $28.4 million in Q1 2026.
- Software revenue decreased 21% to $35.6 million due to licensing transition.
- Drug discovery revenue increased to $22.9 million from $10.2 million.
- Company to launch "Bunsen," an agentic AI co-scientist, in summer 2026.
- Maintained 2026 ACV guidance of $218M-$228M (10-15% growth).