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Schrodinger cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$48.9M in Q3 2026 · −$117M over twelve months

Operating cash flow−$47.6M
Capital spending−$1.3M
Free cash flow−$48.9M
Cash conversion cycle18 days

Analysis

In Q3 2026, Schrodinger generated −$47.6M of operating cash flow and spent $1.3M on capital projects, leaving free cash flow of −$48.9M. That is $13.5M more than in Q3 2025 (−$62.4M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$113M; the largest uses were operating cash flow ($113M), capital spending ($4.2M), net borrowing (+) / repaid (−) ($54K); besides operations, cash came from other investing ($185M), shares issued ($4.2M); the cash balance rose by $72.1M.

Operating cash flow was −$47.6M against net income of −$37.7M. The largest differences: receivables −$27.0M, stock-based pay +$7.9M, prepaid and other assets −$3.0M.

Its cash conversion cycle was 18 days (receivables 50 + inventory 0 − payables 32).

Free cash flow

Schrodinger: free cash flow by quarterSchrodinger: free cash flow by quarter−$32.0MQ4 2024$143MQ1 2025−$52.5MQ2 2025−$62.4MQ3 2025−$16.1MQ4 2025−$17.3MQ1 2026−$34.4MQ2 2026−$48.9MQ3 2026
Operating cash flow less capital spending.
Schrodinger: operating cash flow against capital spendingSchrodinger: operating cash flow against capital spendingOperating cash flowCapital spending−$31.1M$873KQ4 2024$144M$596KQ1 2025−$52.2M$314KQ2 2025−$61.9M$491KQ3 2025−$16.1M$41KQ4 2025−$14.8M$2.5MQ1 2026−$34.1M$362KQ2 2026−$47.6M$1.3MQ3 2026
Latest (Q3 2026): Operating cash flow −$47.6M, Capital spending $1.3M.

Capital allocation, year by year

Schrodinger: where the cash came from (up) and went (down), by fiscal yearSchrodinger: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$70.7MFY2021: Shares issued $7.9MFY2021: Capital spending −$7.2M$7.9MFY2021FY2022: Operating cash flow −$120MFY2022: Shares issued $2.1MFY2022: Capital spending −$8.0MFY2022: Acquisitions −$6.4M$2.1MFY2022FY2023: Operating cash flow −$137MFY2023: Net borrowing −$19KFY2023: Shares issued $9.4MFY2023: Capital spending −$13.4M$9.4MFY2023FY2024: Operating cash flow −$157MFY2024: Net borrowing −$58KFY2024: Shares issued $10.4MFY2024: Capital spending −$7.3M$10.4MFY2024FY2025: Operating cash flow $13.9MFY2025: Net borrowing −$58KFY2025: Shares issued $3.0MFY2025: Capital spending −$1.4M$16.9MFY2025
Over these 5 years operating cash flow totalled −$471M; the largest uses were operating cash flow ($484M) and capital spending ($37.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$366M
Debtnone
Net cash$366M
Cash runway3.1 years

Schrodinger is burning cash: its operations consume cash, a free cash flow of −$117M a year at the current rate against $366M of cash and investments: a runway of about 3.1 years before any new financing.

Where the cash came from and went

Schrodinger: sources (+) and uses (−) of cash, Q3 2026Schrodinger: sources (+) and uses (−) of cash, Q3 2026Operating cash flow−$47.6MCash drawn (+) / kept (−)$38.9MOther investing$7.2MShares issued$2.7MCapital spending−$1.3MNet borrowing (+) / repaid (−)−$10K
Schrodinger: sources (+) and uses (−) of cash, TTM to Q3 2026Schrodinger: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$185MOperating cash flow−$113MCash drawn (+) / kept (−)−$72.1MCapital spending−$4.2MShares issued$4.2MNet borrowing (+) / repaid (−)−$54K

From profit to cash

Schrodinger: net income to operating cash flow, Q3 2026Schrodinger: net income to operating cash flow, Q3 2026Net income−$37.7MDepreciation & amortization$1.5MStock-based pay$7.9MGains on disposals−$6KReceivables−$27.0MPayables−$2.4MAccrued liabilities$253KEmployee-related liabilities$3.0MDeferred revenue−$1.7MPrepaid and other assets−$3.0MOperating cash flow−$47.6M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202650—3218
Q2 202638—38-1
Q1 202685—3648
Q4 202559—3228
Q3 202533—322
Q2 202525—33-8
Q1 2025193—36158
Q4 2024130—4288

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$47.6M−$1.3M−$10K$2.7M$38.9M−$48.9M
Q2 2026−$34.1M−$362K−$15K$665K−$25.2M−$34.4M
Q1 2026−$14.8M−$2.5M−$14K$583K−$30.3M−$17.3M
Q4 2025−$16.1M−$41K−$15K$212K−$55.5M−$16.1M
Q3 2025−$61.9M−$491K−$14K$321K$50.1M−$62.4M
Q2 2025−$52.2M−$314K−$15K$2.0M$106M−$52.5M
Q1 2025$144M−$596K−$14K$423K−$175M$143M
Q4 2024−$31.1M−$873K−$15K$311K$7.5M−$32.0M

Schrodinger: income statement and cash flow

Schrodinger, Q3 2026: revenue $64.5M (+19% year over year), operating margin -40.5%. The chart follows the revenue to costs, profit and cash.

Schrodinger: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.