Schrödinger reported their Q4 and full year 2025 results. Full year revenue came in at $256M, up 23% from the previous year. Drug discovery revenue jumped significantly to $56.4M compared to $27.2M in 2024. They managed to narrow their net loss to $103M, down from $187M last year. Q4 specifically saw a slight revenue dip of 1.2%. Management attributes this to their shift toward hosted software licenses, which changes how they recognize revenue upfront versus over time. They believe this shift will make revenue more predictable eventually. Looking ahead, they provided 2026 guidance expecting software contract value to grow 10-15%. The main goal mentioned is hitting positive adjusted EBITDA by the end of 2028.