FirmAtlas

Company handbook · RXRX · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17

RXRX · CIK 1601830 · LATEST FILING: 10-Q JUN '26 · FILED AUG 5, 2026

Recursion Pharmaceuticals, Inc.

$3.46 −0.70 (−16.71%)

Close, Oct 16, 2026 · 52-week $3–7

↗ recursion.com

Recursion is a biotech company that uses automated labs and AI to find and develop new medicines. It has drugs in clinical trials but none approved for sale.

Business

ProductsLicense And Service 99% · Grant 1% (FY25)
CustomersNo products on sale; its revenue comes from research partnerships with drug companies such as Roche and Sanofi

Last fiscal year

Recursion Pharmaceuticals, Inc. reported revenue of $75M for the year ended Dec 31, 2025 (FY25), up 26.9% from FY24. Net loss was $645M, operating cash flow −$372M and free cash flow −$378M. Source: 10-K filed Feb 25, 2026.

Market cap

$1.8B

P/B

2.0

ROIC

−154.8%

Revenue 1Y

26.9%/yr

EPS 1Y

n/m

Shares 1Y

+33%

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Daily closes, split-adjusted · ratios at each fiscal year end

Company

CEONajat Khan

HQSalt Lake City, UT

AuditorPricewaterhouseCoopers LLP

Year endsDecember

Compounded growth & averages

10Y

TTM

Share price

—

−28.9%

−19.1%

−45.5%

Upgrade to see 10 years

Share price: yearly compound rate of the traded close; the last column is the past year.

Sources 10-K FY25 10-Q Jun '26 All filings on EDGAR

Latest filings

Sep 21, 2026 Material agreement 8-K Aug 5, 2026 Quarterly results 8-K Jun 18, 2026 Shareholder vote results 8-K May 6, 2026 Quarterly results 8-K Apr 30, 2026 Executive or director change 8-K

Growth engines

How much of the profit growth came from new investment, and how much from running the business better.

Upgrade to see 10 years

Financials

Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year

Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier

Per-share figures are split-adjusted (7-for-1 split after FY20).

TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.

Income

FY24 FY25

TTM

Revenue

75+26.9%

YoY

+26.9%

Gross profit

4−72.6%

Gross margin

23.1%

5.0%−18.1 pp

—

Operating income

(479)

(648)n/m

(544)

Operating margin

−814.1%

−867.9%−53.8 pp

—

EBITDA

(443)

(564)n/m

—

EBITDA margin

−752.1%

−755.8%−3.7 pp

—

Interest expense

2+15.1%

—

Interest coverage

−281.49x

−311.84x−30.35x

—

Net income

(464)

(645)n/m

(519)

YoY

n/m

Net margin

−788.0%

−863.4%−75.3 pp

—

EPS (diluted, $)

−1.69

−1.44n/m

−1.03

YoY

n/m

Balance sheet

FY24 FY25

TTM

Total assets

1,449

1,474+1.8%

1,213

Cash & short-term investments

603

754+25.0%

—

Net PP&E

141

104−26.3%

—

Other assets

705

616−12.5%

—

Total liabilities

414

343−17.0%

298

Accounts payable

18−16.2%

—

Total debt

10−49.7%

Other liabilities

373

316−15.4%

—

Shareholders’ equity

1,035

1,131+9.3%

915

Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.

Cash flow statement · as filed

FY24 FY25

TTM

Cash from operations

(359)

(372)n/m

(350)

Net income

(464)

(645)n/m

—

Depreciation & amortization

84+129.4%

—

Stock-based compensation

111+36.2%

—

Working capital & other

(14)

78n/m

—

Cash from investing

260

(17)−106.5%

—

Capex

(14)

(6)n/m

—

Acquisitions

277

0−100.0%

—

Investments bought

(4)n/m

—

Investments sold / matured

0n/m

—

Other investing

(3)

(7)n/m

—

Cash from financing

304

522+71.5%

—

Debt repaid

(4)

(8)n/m

—

Shares issued

300

529+76.0%

—

Other financing

1−86.6%

—

Net change in cash

202

151−25.1%

—

Free cash flow (OCF − capex)

(373)

(378)n/m

(352)

Where the cash went

FY24 FY25

TTM

Operating cash flow

(359)

(372)n/m

(350)

Reinvested in the business

(263)

6n/m

—

% of operating cash flow

—

Capex

6−52.8%

Acquisitions

(277)

0n/m

—

R&D (memo, already in costs)

314

475+51.2%

—

Free cash flow

(373)

(378)n/m

(352)

YoY

n/m

Change in total debt

—

(9)

—

Cash left over

—

(388)

—

Owner earnings

—

(571)

—

Owner earnings margin

—

−764.6%

—

Returns & ratios

FY24 FY25

TTM

ROIC (all capital)

−106.0%

−154.8%−48.8 pp

—

ROIC (operating)

−400.0%

−631.4%−231.3 pp

—

Debt / equity

0.02x

0.01x−0.01x

—

ROE

−44.8%

−57.0%−12.2 pp

—

ROA

−32.0%

−43.7%−11.7 pp

—

ROCE

−38.0%

−48.9%−10.9 pp

—

NOPAT

(478)

(648)n/m

—

Invested capital (operating)

119

86−28.2%

—

Invested capital (all)

451

387−14.3%

—

Reinvestment rate

—

5.2%

—

Days payable

174

93−81 d

—

Income

Sep '25

Dec '25

Mar '26

Jun '26

Revenue

vs year-ago quarter

Gross profit

(10)

(6)

(4)

Gross margin

−183.8%

59.8%

−93.0%

−49.8%

Operating income

(172)

(108)

(129)

(135)

Net income

(162)

(108)

(118)

(131)

vs year-ago quarter

Net margin

−3135.3%

−304.2%

−1815.6%

−1708.0%

EPS (diluted, $)

−0.36

−0.20

−0.22

−0.25

vs year-ago quarter

Balance sheet

Sep '25

Dec '25

Mar '26

Jun '26

Total assets

1,400

1,474

1,340

1,213

Cash & equivalents

667

754

665

557

Total debt

Shareholders’ equity

1,047

1,131

1,025

915

Cash flow

Sep '25

Dec '25

Mar '26

Jun '26

Operating cash flow

(117)

(46)

(81)

(106)

Capex

0.2

0.3

0.0

Free cash flow

(118)

(47)

(81)

(106)

vs year-ago quarter