Shares jumped 13.8% after Schrodinger reported better-than-expected ACV growth and strong commercial momentum, driven by broad-based demand and early adoption of new AI-enabled products.
- ACV grew 27% year-over-year to $29.6 million in Q2, with non-contribution ACV up 23%, hitting the high end of guidance.
- Notable customer traction includes large pharma, biotech, and materials science sectors, underpinning broad demand.
- Launch of Bunsen, an AI co-scientist, started in early access last week, expected to drive significant platform usage growth via a throughput-based licensing model.
- Bristol Myers Squibb expanded its partnership, adopting Bunsen widely, exemplifying large-scale platform deployment.
- Contribution ACV totaled $7 million, including extended funding from the Gates Foundation supporting predictive toxicology and battery research initiatives.
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