{"slug":"schrodinger","name":"Schrödinger","name_en":"Schrodinger","ticker":"SDGR","updated_at":"2026-07-12T03:46:40.103884+00:00","canonical":"https://valuechain.wiki/schrodinger","same_as":["https://finance.yahoo.com/quote/SDGR","https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1490978"],"citable":"밸류체인 그래프 기준 Schrödinger의 직접 연결 기업은 2곳(관계 기준 공급 2·매출 0)이고, 사슬을 2차까지 넓히면 37곳에 닿는다. 링크의 근거 출처는 5건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Schrodinger is directly linked to 2 companies (2 supply, 0 revenue relationships) and reaches 37 companies within two hops; the links are backed by 5 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"나스닥 · 신약발굴 SW · 물리기반 AI 시뮬레이션","kicker_en":"NASDAQ · Drug-discovery software · Physics-based AI simulation","lead":"물리 기반 분자 시뮬레이션과 머신러닝을 결합한 신약 발굴 소프트웨어의 선도사로, 제약사에 SW를 라이선스하는 구독형 매출(SW $200M·ACV $198M)이 안정적 본체이고 자체 신약 파이프라인은 상방 옵션이다. 2025년 매출 $256M(+23%)의 질은 노바티스와 맺은 총 24억 달러(계약금 1.5억 달러) 규모 다중 타깃 라이선스처럼 대형 제약사가 플랫폼을 채택한다는 데 있다. 다만 시뮬레이션을 AWS 컴퓨트와 NVIDIA GPU 위에서 돌리는 원가 구조와 자체 파이프라인 적자가 이익을 눌러, 관전 포인트는 SW 구독 성장과 파이프라인 마일스톤의 균형이다.","lead_en":"A leader in drug-discovery software that fuses physics-based molecular simulation with machine learning: subscription software licensing to pharma (software $200M, ACV $198M) is the stable core, while its own drug pipeline is the upside option. The quality of 2025 revenue of $256M (+23%) lies in large pharma adopting the platform — as in the Novartis multi-target license worth up to $2.4B ($150M upfront). But a cost base that runs simulation on AWS compute and NVIDIA GPUs, plus losses from the in-house pipeline, weigh on profit — so the watch point is the balance between software-subscription growth and pipeline milestones.","segments":{"fy":2025,"parts":[{"desc":"구독형 SW 라이선스(ACV $198M)가 안정적 본체 — 노바티스 등 대형 제약사가 플랫폼 채택.","name":"소프트웨어 라이선스($200M)"},{"desc":"협업·자체 파이프라인 마일스톤 — 성공 시 상방이 크나 임상비용이 적자 요인.","name":"신약 협업·파이프라인"}],"total":"2025 매출 $256M (+23%)","concentration":"SW ACV $198M. 제약 라이선스."},"segments_en":{"fy":2025,"parts":[{"desc":"Subscription software licensing (ACV $198M) is the stable core — adopted by large pharma such as Novartis.","name":"Software licensing ($200M)"},{"desc":"Collaboration and in-house pipeline milestones — large upside on success but trial costs drive losses.","name":"Drug discovery/pipeline"}],"total":"2025 revenue $256M (+23%)","concentration":"Software ACV $198M; pharma 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제약사가 플랫폼에 장기 베팅한다는 데서 온다. 리스크는 자체 파이프라인 임상 비용이 이익을 눌러 주가가 약세라는 점과, 대규모 시뮬레이션을 AWS·NVIDIA GPU 위에서 돌리는 컴퓨트 원가다. 그래프상 상류는 AWS(클라우드)·NVIDIA(GPU 가속)이며, 이 노드는 컴퓨트를 사서 예측 시뮬레이션을 파는 응용 수요층이다.","analysis_en":"A leading drug-discovery software platform fusing physics-based simulation with machine learning, where subscription software licensing (ACV $198M) is the predictable core and the in-house pipeline is a high-variance upside option. The credibility of 2025's +23% growth comes from large pharma making long-term bets on the platform, as in Novartis's $2.4B multi-target license. Risks are that in-house pipeline trial costs weigh on profit and keep the stock weak, and the compute cost of running large-scale simulation on AWS and NVIDIA GPUs. Upstream on the graph sit AWS (cloud) and NVIDIA (GPU acceleration), and this node is an application demand layer buying compute to sell predictive simulation.","analysis_asof":"2026-07-09"},"edges":[{"direction":"revenue","counterparty":"제약 (물리기반 신약 SW 라이선스)","counterparty_slug":null,"confidence":"high","metric":null,"note":"제약사에 물리기반 시뮬레이션 SW 라이선스(SW $200M·ACV $198M).","note_en":"Physics-based simulation software licensing to pharma (software $200M, ACV $198M).","sources":[{"stance":"confirms","publisher":"Schrodinger","publisher_en":"Schrodinger","kind":"filing","lang":"en","published_at":"2026-02-25","url":"https://ir.schrodinger.com/press-releases/news-details/2026/Schrdinger-Reports-Fourth-Quarter-and-Full-Year-2025-Financial-Results/default.aspx","title":"Schrödinger FY2025 실적($256M·SW $200M)","title_en":"Schrodinger FY2025 results ($256M, SW $200M)","excerpt":"제약사에 물리기반 시뮬레이션 SW 라이선스(SW $200M·ACV $198M).","excerpt_en":"Physics-based simulation software licensing to pharma (software $200M, ACV $198M)."},{"stance":"confirms","publisher":"Business Wire","publisher_en":"Business Wire","kind":"news","lang":"en","published_at":"2025-11-05","url":"https://www.businesswire.com/news/home/20251105438747/en/Schrdinger-Reports-Third-Quarter-2025-Financial-Results","title":"Schrödinger 3분기 실적","title_en":"Schrodinger Q3 2025 results","excerpt":"제약사에 물리기반 시뮬레이션 SW 라이선스(SW $200M·ACV $198M).","excerpt_en":"Physics-based simulation software licensing to pharma (software $200M, ACV $198M)."},{"stance":"confirms","publisher":"바이오스펙테이터","publisher_en":"BioSpectator","kind":"news","lang":"ko","published_at":"2024-11-15","url":"https://m.biospectator.com/view/news_view.php?varAtcId=23554","title":"노바티스, 슈뢰딩거와 '非종양학' 신약개발 24억弗 딜","title_en":"Novartis strikes $2.4B non-oncology drug discovery pact with Schrodinger","excerpt":"노바티스가 슈뢰딩거의 물리기반 분자모델링 소프트웨어를 계약금 1.5억달러, 총 24억달러 규모로 라이선스해 핵심 치료영역의 저분자 신약을 개발한다.","excerpt_en":"Novartis licenses Schrodinger's physics-based molecular-modeling software in a deal worth $150M upfront and over $2.4B in total to develop small-molecule drugs in its core therapeutic areas."},{"stance":"confirms","publisher":"슈뢰딩거","publisher_en":"Schrodinger","kind":"ir","lang":"en","published_at":"2024-11-12","url":"https://ir.schrodinger.com/press-releases/news-details/2024/Schrdinger-Announces-Multi-Target-Collaboration-and-Expanded-Software-Licensing-Agreement-with-Novartis/default.aspx","title":"슈뢰딩거, 노바티스와 다중 타깃 협업 및 소프트웨어 라이선스 확대 계약 발표","title_en":"Schrödinger Announces Multi-Target Collaboration and Expanded Software Licensing Agreement with Novartis","excerpt":"노바티스가 슈뢰딩거의 계산 예측 모델링·엔터프라이즈 정보학 플랫폼을 3년 소프트웨어 계약으로 확대 사용하며, 계약금 1.5억달러에 총 마일스톤 약 23억달러 규모다.","excerpt_en":"Novartis expands its use of Schrodinger's computational predictive modeling and enterprise informatics platform under a three-year software agreement, with $150M upfront and about $2.3B in total milestones."}]},{"direction":"revenue","counterparty":"신약 협업·자체 파이프라인","counterparty_slug":null,"confidence":"mid","metric":null,"note":"협업·자체 파이프라인 마일스톤 — 성공 시 상방이 크나 임상 비용이 적자 요인.","note_en":"Collaboration and own-pipeline milestones — large upside on success, but trial costs drive losses.","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"research","lang":"en","published_at":"2026-02-25","url":"https://www.stocktitan.net/news/SDGR/schrodinger-reports-fourth-quarter-and-full-year-2025-financial-awplxl9lmvpp.html","title":"Schrödinger 2025 매출 $256M·적자 축소","title_en":"Schrodinger 2025 revenue $256M, narrowed loss","excerpt":"협업·자체 파이프라인 마일스톤.","excerpt_en":"Collaboration and own-pipeline milestones."}]},{"direction":"cost","counterparty":"아마존","counterparty_slug":"amazon","confidence":"mid","metric":null,"note":"대규모 분자 시뮬레이션을 AWS 클라우드에서 수행 — 컴퓨트가 매출원가의 핵심 상류.","note_en":"Runs large-scale molecular simulation on AWS cloud — compute is the key upstream cost of revenue.","sources":[{"stance":"confirms","publisher":"Business Wire","publisher_en":"Business Wire","kind":"news","lang":"en","published_at":"2025-11-05","url":"https://www.businesswire.com/news/home/20251105438747/en/Schrdinger-Reports-Third-Quarter-2025-Financial-Results","title":"Schrödinger 3분기 실적","title_en":"Schrodinger Q3 2025 results","excerpt":"대규모 분자 시뮬레이션을 AWS 클라우드에서 수행.","excerpt_en":"Runs large-scale molecular simulation on AWS cloud."}]},{"direction":"cost","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"mid","metric":null,"note":"GPU 가속 자유에너지(FEP) 계산에 NVIDIA — 시뮬레이션 정밀도·속도를 좌우하는 상류.","note_en":"NVIDIA for GPU-accelerated free-energy (FEP) calculations — the upstream that governs simulation accuracy and speed.","sources":[{"stance":"confirms","publisher":"StockTitan","publisher_en":"StockTitan","kind":"research","lang":"en","published_at":"2026-02-25","url":"https://www.stocktitan.net/news/SDGR/schrodinger-reports-fourth-quarter-and-full-year-2025-financial-awplxl9lmvpp.html","title":"Schrödinger 2025 매출 $256M·적자 축소","title_en":"Schrodinger 2025 revenue $256M, narrowed loss","excerpt":"GPU 가속 자유에너지 계산에 NVIDIA.","excerpt_en":"NVIDIA for GPU-accelerated free-energy calculations."}]},{"direction":"cost","counterparty":"R&D·인력 (비공개)","counterparty_slug":null,"confidence":"low","metric":null,"note":"R&D·과학자 인력.","note_en":"R&D and scientist headcount.","sources":[{"stance":"confirms","publisher":"Schrodinger","publisher_en":"Schrodinger","kind":"filing","lang":"en","published_at":"2026-02-25","url":"https://ir.schrodinger.com/press-releases/news-details/2026/Schrdinger-Reports-Fourth-Quarter-and-Full-Year-2025-Financial-Results/default.aspx","title":"Schrödinger FY2025 실적($256M·SW $200M)","title_en":"Schrodinger FY2025 results ($256M, SW $200M)","excerpt":"R&D·과학자 인력.","excerpt_en":"R&D and scientist headcount."}]}]}