PerpEquities

Equity

Schrödinger, Inc. (SDGR) perpetual futures

SDGR perpetual futures on 2 crypto exchanges – live perp price vs the stock, funding rate, open interest and where to trade SDGRUSDT.

Schrödinger develops a physics-based computational platform for discovering novel molecules for drug development and materials applications, operating in Software and Drug Discovery segments.

$30.45+4.2%NASDAQ closed
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Collecting venue price data...
venue perp mark · Bitget (SDGR/USDT)
Auto: highest-volume live perp venueOpen in TradingView

Trading data

Perpetual market activity

2/2 live markets
Venues
2
Live markets
2/2
24h volume
$6.2K
Open interest
$882.3
Best liquidity
$44.7K
Bitget
Tightest spread
+137.0 bps
Bitget
Highest volume
$6.2K
Bitget
Settlement mix
USDT · 2/2
Perp/spot vol.
0.00x
Spot volume $87.9M
OI / float
0.00%
Float $1.8B
Spot performance
1D+4.20%
5D+25.53%
1M+53.42%
6M+151.58%
YTD+69.13%
1Y+53.35%

Venue matrix

2 markets

Some venue links are sponsored. We may receive a commission, and eligible users may occasionally receive trading-fee discounts, at no additional cost to you.

Trade
BitgetTradeSDGR/USDTTrading$30.450.0% APR
0.000% every 8h
+137.0 bps$44.7K$6.2K$882.3USDT20x
BybitTradeSDGR/USDTTrading$30.21-115.7% APR
-0.106% every 8h
+387.1 bps$0$0$0USDT20x

Tradability

Execution quality

Entry cost and depth per venue at $1k–$100k

No sufficient depth · 0 of 2 venues absorb $10k

No fresh book data: Bitget, Bybit

Taker execution estimate incl. approx. fees - maker fills are not guaranteed.

Best venues for this underlying

Best liquidity

SDGR

Tightest spread

SDGR

Highest volume

SDGR

Funding history

Stored venue snapshots by market

Company data

Company fundamentals

Updated 30m ago
Market cap
$2.3B
Updated 30m ago
Revenue
$259M
Trailing 12 months
Revenue growth
-5%
Next fiscal year
Profit margin
-21.0%
P/E
-40.9
Peer P/E -5.5
Free cash flow
-$32.5M
Trailing 12 months
More metrics
Net income
-$54.3M
Trailing 12 months
P/S
8.7
Peer P/E
-5.5
Similar listed perps
Revenue estimate
$242.7M
Next fiscal year
Earnings
2026-11-04
Revenue est. $48.6M · Updated 30m ago
Dividend
-

Fundamental detail

Annual + quarterly
Latest revenue$255.9M
Net margin-40.4%
Free cash flow$12.5M
Net debt-$121.3M
2020$108.1M
2021$137.9M
2022$181M
2023$216.7M
2024$207.5M
2025$255.9M
PeriodRevenueGrowthNet incomeFCF
2020$108.1M+26%-$24.5M$14.2M
2021$137.9M+28%-$100.4M-$77.8M
2022$181M+31%-$149.2M-$127.7M
2023$216.7M+20%$40.7M-$150.1M
2024$207.5M-4%-$187.1M-$164.7M
2025$255.9M+23%-$103.3M$12.5M
PeriodGross marginOperating marginNet marginROEROA
2020+58.7%-56.4%-22.6%-3.9%-3.3%
2021+47.6%-80.8%-72.8%-18.0%-13.3%
2022+55.8%-81.1%-82.4%-33.3%-21.7%
2023+64.9%-81.9%+18.8%+7.4%+5.1%
2024+63.6%-100.8%-90.2%-44.4%-22.7%
2025+55.7%-65.2%-40.4%-28.4%-14.2%
PeriodCashDebtNet debtCurrent ratio
2020$202.3M$11.8M-$190.5M9.33
2021$120.3M$79.9M-$40.4M6.85
2022$90.5M$116.5M$26M4.91
2023$155.3M$127.9M-$27.4M4.25
2024$147.3M$117.8M-$29.5M3.31
2025$230.5M$109.2M-$121.3M2.75
PeriodMarket capEnterprise valueP/SP/E
2020$4.8B$4.6B44.0-180.0
2021$2.5B$2.4B17.8-24.4
2022$1.3B$1.4B7.4-8.9
2023$2.6B$2.5B11.962.8
2024$1.4B$1.4B6.8-7.5
2025$1.3B$1.2B5.1-12.7
Q3 2024$35.3M
Q4 2024$88.3M
Q1 2025$59.6M
Q2 2025$54.8M
Q3 2025$54.3M
Q4 2025$87.2M
Q1 2026$58.6M
Q2 2026$58.9M
PeriodRevenueGrowthNet incomeFCF
Q3 2024$35.3M-17%-$38.1M-$34.6M
Q4 2024$88.3M+19%-$40.2M-$32M
Q1 2025$59.6M+63%-$59.8M$143.5M
Q2 2025$54.8M+16%-$43.2M-$52.5M
Q3 2025$54.3M+54%-$32.8M-$62.4M
Q4 2025$87.2M-1%$32.5M-$16.1M
Q1 2026$58.6M-2%-$60M-$17.3M
Q2 2026$58.9M+8%$6M$63.4M
PeriodGross marginOperating marginNet marginROEROA
Q3 2024+50.2%-193.9%-108.1%-8.5%-5.7%
Q4 2024+72.6%-23.5%-45.5%-9.5%-4.9%
Q1 2025+52.3%-85.5%-100.4%-16.0%-8.0%
Q2 2025+47.8%-96.6%-78.8%-12.6%-6.3%
Q3 2025+51.6%-84.6%-60.4%-10.2%-5.0%
Q4 2025+65.7%-19.7%+37.3%+8.9%+4.5%
Q1 2026+50.4%-83.3%-102.5%-19.1%-9.5%
Q2 2026+55.1%-70.6%+10.1%+1.8%+0.9%
PeriodCashDebtNet debtCurrent ratio
Q3 2024$160.4M$120.1M-$40.3M4.11
Q4 2024$147.3M$117.8M-$29.5M3.31
Q1 2025$326M$116.2M-$209.8M3.45
Q2 2025$219.9M$114.3M-$105.6M3.30
Q3 2025$181.9M$111.4M-$70.4M3.25
Q4 2025$230.5M$109.2M-$121.3M2.75
Q1 2026$260.3M$107M-$153.3M2.74
Q2 2026$287.9M$108M-$179.9M2.71
PeriodMarket capEnterprise valueP/SP/E
Q3 2024$1.4B$1.3B38.3-8.9
Q4 2024$1.4B$1.4B15.9-8.8
Q1 2025$1.4B$1.2B24.2-6.0
Q2 2025$1.5B$1.4B27.0-8.5
Q3 2025$1.5B$1.4B27.2-11.1
Q4 2025$1.3B$1.2B15.110.2
Q1 2026$840.5M$687.2M14.3-3.5
Q2 2026$1.2B$1B20.650.8

Refreshed 30m ago

Charts: revenue, profit, cash flow & valuation
Revenue$58.9MQ2 2026
$22.1M$44.2M$66.2M$88.3MQ3 2023: $42.6MQ4 2023: $74.1MQ1 2024: $36.6MQ2 2024: $47.3MQ3 2024: $35.3MQ4 2024: $88.3MQ1 2025: $59.6MQ2 2025: $54.8MQ3 2025: $54.3MQ4 2025: $87.2MQ1 2026: $58.6MQ2 2026: $58.9MQ3 2023Q2 2026
Net income$6MQ2 2026
-$38.4M-$14.8M$8.9M$32.5MQ3 2023: -$62MQ4 2023: -$30.7MQ1 2024: -$54.7MQ2 2024: -$54MQ3 2024: -$38.1MQ4 2024: -$40.2MQ1 2025: -$59.8MQ2 2025: -$43.2MQ3 2025: -$32.8MQ4 2025: $32.5MQ1 2026: -$60MQ2 2026: $6MQ3 2023Q2 2026
EBITDA$7.3MQ2 2026
-$38.7M-$13.8M$11.2M$36.1MQ3 2023: -$63.6MQ4 2023: -$30.2MQ1 2024: -$52.8MQ2 2024: -$52.6MQ3 2024: -$36.7MQ4 2024: -$37.5MQ1 2025: -$58.2MQ2 2025: -$41.4MQ3 2025: -$31.2MQ4 2025: $36.1MQ1 2026: -$58.1MQ2 2026: $7.3MQ3 2023Q2 2026
Free cash flow$63.4MQ2 2026
-$10.9M$40.6M$92M$143.5MQ3 2023: -$54.9MQ4 2023: -$39.7MQ1 2024: -$43.4MQ2 2024: -$54.7MQ3 2024: -$34.6MQ4 2024: -$32MQ1 2025: $143.5MQ2 2025: -$52.5MQ3 2025: -$62.4MQ4 2025: -$16.1MQ1 2026: -$17.3MQ2 2026: $63.4MQ3 2023Q2 2026
EPS$0.08Q2 2026
-$0.53-$0.21$0.12$0.44Q3 2023: -$0.86Q4 2023: -$0.43Q1 2024: -$0.76Q2 2024: -$0.74Q3 2024: -$0.52Q4 2024: -$0.55Q1 2025: -$0.82Q2 2025: -$0.59Q3 2025: -$0.45Q4 2025: $0.44Q1 2026: -$0.81Q2 2026: $0.08Q3 2023Q2 2026
Cash / Debt$287.9MQ2 2026
$81.5M$163M$244.5M$326MQ3 2023 · Cash: $249.4MQ3 2023 · Debt: $129MQ4 2023 · Cash: $161.1MQ4 2023 · Debt: $127.9MQ1 2024 · Cash: $130.2MQ1 2024 · Debt: $125.9MQ2 2024 · Cash: $108.1MQ2 2024 · Debt: $123.9MQ3 2024 · Cash: $160.4MQ3 2024 · Debt: $120.1MQ4 2024 · Cash: $147.3MQ4 2024 · Debt: $117.8MQ1 2025 · Cash: $326MQ1 2025 · Debt: $116.2MQ2 2025 · Cash: $219.9MQ2 2025 · Debt: $114.3MQ3 2025 · Cash: $181.9MQ3 2025 · Debt: $111.4MQ4 2025 · Cash: $230.5MQ4 2025 · Debt: $109.2MQ1 2026 · Cash: $260.3MQ1 2026 · Debt: $107MQ2 2026 · Cash: $287.9MQ2 2026 · Debt: $108MQ3 2023Q2 2026
CashDebt
Profitability+55.1%Q2 2026
-126.0%-58.1%+9.8%+77.6%Q3 2023 · Gross margin: +55.5%Q4 2023 · Gross margin: +77.6%Q1 2024 · Gross margin: +51.6%Q2 2024 · Gross margin: +66.2%Q3 2024 · Gross margin: +50.2%Q4 2024 · Gross margin: +72.6%Q1 2025 · Gross margin: +52.3%Q2 2025 · Gross margin: +47.8%Q3 2025 · Gross margin: +51.6%Q4 2025 · Gross margin: +65.7%Q1 2026 · Gross margin: +50.4%Q2 2026 · Gross margin: +55.1%Q3 2023 · Operating margin: -132.0%Q4 2023 · Operating margin: -40.0%Q1 2024 · Operating margin: -184.3%Q2 2024 · Operating margin: -111.4%Q3 2024 · Operating margin: -193.9%Q4 2024 · Operating margin: -23.5%Q1 2025 · Operating margin: -85.5%Q2 2025 · Operating margin: -96.6%Q3 2025 · Operating margin: -84.6%Q4 2025 · Operating margin: -19.7%Q1 2026 · Operating margin: -83.3%Q2 2026 · Operating margin: -70.6%Q3 2023 · Net margin: -145.7%Q4 2023 · Net margin: -41.4%Q1 2024 · Net margin: -149.5%Q2 2024 · Net margin: -114.2%Q3 2024 · Net margin: -108.1%Q4 2024 · Net margin: -45.5%Q1 2025 · Net margin: -100.4%Q2 2025 · Net margin: -78.8%Q3 2025 · Net margin: -60.4%Q4 2025 · Net margin: +37.3%Q1 2026 · Net margin: -102.5%Q2 2026 · Net margin: +10.1%Q3 2023Q2 2026
Gross marginOperating marginNet margin
Revenue growth+7.5%Q2 2026
+2.9%+22.8%+42.8%+62.7%Q3 2024: -17.1%Q4 2024: +19.1%Q1 2025: +62.7%Q2 2025: +15.7%Q3 2025: +53.9%Q4 2025: -1.2%Q1 2026: -1.6%Q2 2026: +7.5%Q3 2023Q2 2026
Shares outstanding75.8MQ2 2026
18.9M37.9M56.8M75.8MQ3 2023: 71.9MQ4 2023: 72.1MQ1 2024: 72.3MQ2 2024: 72.7MQ3 2024: 72.8MQ4 2024: 72.7MQ1 2025: 73.1MQ2 2025: 73.4MQ3 2025: 73.6MQ4 2025: 73.4MQ1 2026: 74MQ2 2026: 75.8MQ3 2023Q2 2026
Valuation50.8Q2 2026
-2.615.633.852.0Q3 2023 · P/E: -8.2Q4 2023 · P/E: -20.8Q1 2024 · P/E: -8.7Q2 2024 · P/E: -6.3Q3 2024 · P/E: -8.9Q4 2024 · P/E: -8.8Q1 2025 · P/E: -6.0Q2 2025 · P/E: -8.5Q3 2025 · P/E: -11.1Q4 2025 · P/E: 10.2Q1 2026 · P/E: -3.5Q2 2026 · P/E: 50.8Q3 2023 · P/S: 47.8Q4 2023 · P/S: 34.8Q1 2024 · P/S: 52.0Q2 2024 · P/S: 28.8Q3 2024 · P/S: 38.3Q4 2024 · P/S: 15.9Q1 2025 · P/S: 24.2Q2 2025 · P/S: 27.0Q3 2025 · P/S: 27.2Q4 2025 · P/S: 15.1Q1 2026 · P/S: 14.3Q2 2026 · P/S: 20.6Q3 2023Q2 2026
P/EP/S
Revenue$255.9M2025
$64M$127.9M$191.9M$255.9M2018: $66.6M2019: $85.5M2020: $108.1M2021: $137.9M2022: $181M2023: $216.7M2024: $207.5M2025: $255.9M20182025
Net income-$103.3M2025
-$130.2M-$73.2M-$16.2M$40.7M2018: -$28.4M2019: -$24.6M2020: -$24.5M2021: -$100.4M2022: -$149.2M2023: $40.7M2024: -$187.1M2025: -$103.3M20182025
EBITDA-$96.3M2025
-$122.5M-$65.5M-$8.5M$48.5M2018: -$25.1M2019: -$35.1M2020: -$57.3M2021: -$98M2022: -$144.8M2023: $48.5M2024: -$179.6M2025: -$96.3M20182025
Free cash flow$12.5M2025
-$120M-$75.2M-$30.5M$14.2M2018: -$29M2019: -$27.9M2020: $14.2M2021: -$77.8M2022: -$127.7M2023: -$150.1M2024: -$164.7M2025: $12.5M20182025
EPS-$1.412025
-$1.79-$1.02-$0.24$0.542018: -$0.592019: -$0.412020: -$0.442021: -$1.432022: -$2.12023: $0.542024: -$2.572025: -$1.4120182025
Cash / Debt$230.5M2025
$57.6M$115.3M$172.9M$230.5M2018 · Cash: $77.7M2018 · Debt: $02019 · Cash: $26M2019 · Debt: $14.5M2020 · Cash: $202.3M2020 · Debt: $11.8M2021 · Cash: $120.3M2021 · Debt: $79.9M2022 · Cash: $90.5M2022 · Debt: $116.5M2023 · Cash: $155.3M2023 · Debt: $127.9M2024 · Cash: $147.3M2024 · Debt: $117.8M2025 · Cash: $230.5M2025 · Debt: $109.2M20182025
CashDebt
Profitability+55.7%2025
-59.4%-18.0%+23.5%+64.9%2018 · Gross margin: +64.4%2019 · Gross margin: +57.4%2020 · Gross margin: +58.7%2021 · Gross margin: +47.6%2022 · Gross margin: +55.8%2023 · Gross margin: +64.9%2024 · Gross margin: +63.6%2025 · Gross margin: +55.7%2018 · Operating margin: -42.0%2019 · Operating margin: -45.3%2020 · Operating margin: -56.4%2021 · Operating margin: -80.8%2022 · Operating margin: -81.1%2023 · Operating margin: -81.9%2024 · Operating margin: -100.8%2025 · Operating margin: -65.2%2018 · Net margin: -42.7%2019 · Net margin: -28.7%2020 · Net margin: -22.6%2021 · Net margin: -72.8%2022 · Net margin: -82.4%2023 · Net margin: +18.8%2024 · Net margin: -90.2%2025 · Net margin: -40.4%20182025
Gross marginOperating marginNet margin
Revenue growth+23.3%2025
+4.6%+13.5%+22.3%+31.2%2019: +28.4%2020: +26.4%2021: +27.6%2022: +31.2%2023: +19.7%2024: -4.2%2025: +23.3%20182025
Shares outstanding73.4M2025
18.7M37.5M56.2M75M2018: 48.5M2019: 63.3M2020: 60M2021: 70.6M2022: 71.2M2023: 75M2024: 72.7M2025: 73.4M20182025
Valuation-12.72025
-119.3-58.62.162.82018 · P/E: -48.52019 · P/E: -69.92020 · P/E: -180.02021 · P/E: -24.42022 · P/E: -8.92023 · P/E: 62.82024 · P/E: -7.52025 · P/E: -12.72018 · P/S: 20.82019 · P/S: 21.22020 · P/S: 44.02021 · P/S: 17.82022 · P/S: 7.42023 · P/S: 11.92024 · P/S: 6.82025 · P/S: 5.120182025
P/EP/S

Next catalyst

Catalysts

Earnings
2026-11-04
Revenue est. $48.6M · Updated 30m ago

No unusual perp activity right now.

Research data

Analysts, filings and peer context

Estimates

6
DateEPS estimateRevenue estimateGrowthAnalysts
FY 2026-1.60$242.7M-5%3
FY 2027-1.42$250.3M-2%3
FY 2028-0.91$280.2M+9%3
FY 2029-0.01$371.8M+45%1
FY 20300.40$406.5M+59%1
Q1 2027-0.59$53.6M-9%1

Company events

6
2026-11-04EarningsActual - / Estimate -0.66-
2026-08-05EarningsActual 0.08 / Estimate -0.41Beat
2026-05-05EarningsActual -0.81 / Estimate -0.56Miss
2026-02-25EarningsActual 0.44 / Estimate -0.13Beat
2025-11-05EarningsActual -0.45 / Estimate -0.75Beat
2025-08-06EarningsActual -0.59 / Estimate -0.83Beat

Peer comparison

Similar listed perps

Analyst track record

How the analysts covering SDGR have done: ratings, price-target accuracy and the measured reaction after their calls.

12 months3 years
Ratings46149
Analysts1119
Buy / hold / sell35 / 11 / 0113 / 36 / 0
Upgrades / downgrades / initiations1 / 0 / 31 / 1 / 8
Price targets hit / missed27 / 2 (93%)59 / 51 (54%)
Avg. return after a rating (TipRanks)+42.9%+6.8%
Best / worst call+132.6% / -8.4%+132.6% / -49.6%

After buy calls on this stock: not enough measured cases yet

Latest ratings

DateAnalystCallTarget
Sep 15, 2026Craig HettenbachMorgan StanleyHoldMaintained$17.00
Aug 17, 2026Evan SeigermanBMO CapitalBuyMaintained$24.00
Aug 14, 2026Kevin CaliendoUBSHoldInitiated$19.00
Aug 12, 2026Sean LaamanMorgan StanleyHoldReiterated$17.00
Aug 6, 2026Michael RyskinBank of America SecuritiesBuyMaintained

TipRanks data via FMP · computed Sep 22, 2026 · 46 ratings

Frequently asked questions

Where can I trade SDGR perpetual futures?

Schrödinger, Inc. (SDGR) perpetual futures trade on 2 crypto venues, including Bitget, Bybit. PerpEquities compares them by live price, funding rate, open interest and liquidity.

Can I trade SDGR around the clock?

Yes. Unlike the underlying stock, SDGR perpetuals trade 24/7 — including weekends and outside regular market hours.

What is the funding rate on SDGR perpetuals?

Right now the SDGR perp funding rate is -57.9% annualized (venue median), ranging from -115.7% to 0.0% across 2 venues. A positive rate means longs pay shorts. PerpEquities shows the live rate and its history for every venue.

How does the SDGR perp price compare to the Schrödinger, Inc. stock?

The venue-median SDGR perp mark is $30.3 versus a reference stock price of $30.4, a basis of -0.4%. Perps follow the stock through an index price; the gap widens when funding or liquidity diverge between venues.

What is a SDGR perpetual future?

A SDGR perpetual is a derivative that tracks the price of Schrödinger, Inc. with no expiry date. It lets you take long or short exposure to Schrödinger, Inc. on crypto venues, around the clock.

What is SDGRUSDT perpetual?

SDGRUSDT is the symbol most crypto exchanges use for the Schrödinger, Inc. perpetual settled in USDT (Tether). It tracks the SDGR share price through an index, trades 24/7 with leverage and never expires.

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