Net Income (Loss) per Share Attributable to Common and Limited Common Stockholders

6 Months Ended

Jun. 30, 2023

Net Income (Loss) per Share Attributable to Common and Limited Common Stockholders

The following table presents the calculation of basic and diluted net income (loss) per share attributable to common and limited common stockholders for the periods presented (in thousands, except for share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator:
Net income (loss) attributable to Schrödinger common and limited common stockholders	$	4,278	$	(47,686)	$	133,414	$	(82,126)
Denominator:
Weighted average shares used to compute net income (loss) per share of common and limited common stockholders, basic:	71,642,722		71,161,892		71,555,395		71,106,470
Effect of the exercise of common stock options and vested RSUs on weighted average common and limited common shares	3,421,601		—		2,944,277		—
Weighted average shares used to compute net income (loss) per share of common and limited common stockholders, diluted:	75,064,323		71,161,892		74,499,672		71,106,470

Net income (loss) per share of common and limited common stockholders, basic:	$	0.06	$	(0.67)	$	1.86	$	(1.15)
Net income (loss) per share of common and limited common stockholders, diluted:	$	0.06	$	(0.67)	$	1.79	$	(1.15)

For the three and six months ended June 30, 2023, in order to calculate diluted net income per share, the weighted average shares used to compute net income is adjusted by the effect of dilutive securities, including awards under the Plans. Diluted net income per share is computed by dividing the resulting net income by the weighted average number of fully diluted common and limited shares outstanding. Since the Company was in a loss position for the three and six months ended June 30, 2022, basic net loss per share is the same as diluted net loss per share as the inclusion of all

potential common shares and limited common shares outstanding would have been anti-dilutive. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Shares subject to outstanding common stock options and RSUs	6,183,141	10,723,911	6,287,929	10,723,911

At June 30, 2023 we excluded PRSUs from the securities outstanding for the computation of earnings per share because the minimum applicable performance conditions had not been attained.