Schrodinger reported $187M of remaining performance obligations at 30 Sep 2026, up 251% from a year earlier and down 1% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 0.96.
Net new backlog added in the latest quarter: -$2.40M.
Over the last twelve months it turned about 250% of its opening backlog into revenue (12-month conversion).
62% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 52.3% of the backlog.
Twelve-month book-to-bill: 1.50, i.e. 1.50 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +246 points — orders are running ahead of revenue.
By backlog size it ranks 388th among US filers the cockpit tracks.
Schrodinger backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$187M
$269M
0.7 yrs
$97.7M
30 Jun 2026
$189M
$259M
0.7 yrs
$105M
31 Mar 2026
$211M
$255M
0.8 yrs
$103M
31 Dec 2025
$240M
$256M
0.9 yrs
$113M
30 Sep 2025
$53.2M
$257M
0.2 yrs
$82.3M
30 Jun 2025
$56.2M
$238M
0.2 yrs
$94.5M
31 Mar 2025
$62.7M
$230M
0.3 yrs
$106M
31 Dec 2024
$59.5M
$208M
0.3 yrs
$112M
30 Sep 2024
$40.0M
$193M
0.2 yrs
$41.8M
30 Jun 2024
$41.7M
$201M
0.2 yrs
$40.8M
31 Mar 2024
$32.0M
$188M
0.2 yrs
$49.5M
31 Dec 2023
$36.4M
$217M
0.2 yrs
$56.2M
Questions
What is Schrodinger's backlog?
Schrodinger reported $187M of remaining performance obligations at 30 Sep 2026, up 251% from a year earlier and down 1% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 0.96.
How fast does Schrodinger's backlog turn into revenue?
Over the last twelve months Schrodinger recognised revenue equal to about 250% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.