UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Events. |
On May 19, 2025, Schrödinger, Inc. (the “Company”) restructured its operations to reduce its workforce and implemented focused cost reductions across the Company to improve the Company’s cash burn rate and enhance its operational efficiency. The reduction in workforce will decrease overall headcount by approximately 60 employees, which represents approximately 7% of full-time employees as of May 19, 2025.
The Company estimates that it will incur approximately $3 million in charges in connection with the restructuring, consisting of severance payments, employee benefits, and related costs, substantially all of which the Company expects to incur in the fiscal year ending December 31, 2025.
The reduction in workforce and cost reductions being implemented are expected to reduce operating expenses by approximately $30 million on an annualized basis. Approximately half of the estimated cost savings are expected to be a result of the reduction in overall headcount.
Cautionary Note Regarding Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those regarding the Company’s ability to realize potential benefits and estimated savings from the restructuring and other cost reductions, and the Company’s estimates of the amount and timing of the charges that it expects to incur in connection with the restructuring. Statements including words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and statements in the future tense are forward-looking statements. These forward-looking statements reflect the Company’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the Company and on assumptions the Company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and important factors that are beyond the Company’s control, including the Company’s ability to retain and hire key personnel and uncertainty as to whether the reduction in force will result in the anticipated savings and be completed when anticipated, as well as the other risks and uncertainties under the caption “Risk Factors” and elsewhere in the Company’s filings and reports with the Securities and Exchange Commission, including the Company’s most recent Quarterly Report on Form 10-Q and in future filings and reports. Any forward-looking statements contained in this Current Report on Form 8-K speak only as of the date hereof. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained herein as a result of new information, future events, changes in expectations or otherwise.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Schrödinger, Inc. | ||||||
| Date: May 19, 2025 | By: | /s/ Yvonne Tran | ||||
| Yvonne Tran | ||||||
| Chief Legal Officer and Corporate Secretary | ||||||