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RXRX

Recursion Pharmaceuticals, Inc.

RXRX

Recursion Pharmaceuticals, Inc. • NASDAQ
$4.63 ▲ 4.99% (+0.22)
Market Cap $1.86 B
52w High $12.36
52w Low $3.79
Dividend Yield 0%
P/E -2.52
Volume 10.57M
Outstanding Shares 400.82M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $5.175M ▼ $147.784M ▼ $-162.253M ▲ -3.135K% ▼ $-0.36 ▲ $-141.207M ▲
Q2-2025 $19.103M ▲ $175.169M ▼ $-171.897M ▲ -899.843% ▲ $-0.41 ▲ $-147.568M ▲
Q1-2025 $14.745M ▲ $184.284M ▲ $-202.487M ▼ -1.373K% ▲ $-0.5 ▲ $-182.806M ▼
Q4-2024 $4.511M ▼ $175.485M ▲ $-178.906M ▼ -3.966K% ▼ $-0.53 ▼ $-165.343M ▼
Q3-2024 $26.082M $112.357M $-95.675M -366.824% $-0.34 $-87.924M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $659.836M ▲ $1.4B ▲ $352.578M ▼ $1.047B ▲
Q2-2025 $528.216M ▲ $1.302B ▼ $383.209M ▲ $919.146M ▼
Q1-2025 $500.453M ▼ $1.305B ▼ $371.287M ▼ $933.947M ▼
Q4-2024 $594.35M ▲ $1.449B ▲ $413.816M ▲ $1.035B ▲
Q3-2024 $427.647M $726.499M $201.94M $524.559M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-162.253M ▲ $-117.36M ▼ $-2.549M ▲ $251.34M ▲ $133.3M ▲ $-117.603M ▼
Q2-2025 $-171.897M ▲ $-76.418M ▲ $-5.808M ▲ $97.659M ▲ $24.688M ▲ $-79.568M ▲
Q1-2025 $-202.487M ▼ $-131.957M ▼ $-7.27M ▼ $40.527M ▲ $-93.867M ▼ $-133.789M ▼
Q4-2024 $-178.906M ▼ $-115.43M ▼ $275.456M ▲ $10.639M ▼ $167.193M ▲ $-117.078M ▼
Q3-2024 $-95.842M $-59.225M $-4.562M $16.462M $-46.922M $-63.787M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Grant
Grant
 $0 ▲$0 ▲$0 ▲$0 ▲
License and Service
License and Service
 $20.00M ▲$10.00M ▼$20.00M ▲$0 ▼

Five-Year Company Overview

Income Statement

Income Statement Recursion is still in the very early stages of commercializing its science. Revenue is tiny and comes mainly from partnerships, not product sales. Losses are large and have grown over the last few years as the company has scaled up its research, technology, and headcount. In plain terms, this is a classic “invest heavily now, hope for drugs later” income statement: small income at the top, big research and platform costs in the middle, and meaningful losses at the bottom.

Balance Sheet

Balance Sheet The balance sheet is a relative bright spot. Total assets have grown, driven largely by a strong cash position after fundraising and partnerships. Debt remains modest, and equity has moved from negative a few years ago to clearly positive, reflecting capital raises and investor support. Overall, Recursion looks more like a well-funded R&D platform than a highly leveraged biotech, which gives it some resilience as it pursues long development timelines.

Cash Flow

Cash Flow Cash flow shows a company firmly in investment mode. Operating cash flow is solidly negative and has become more so as spending on R&D and platform build‑out has increased. Free cash flow is also clearly negative, though capital spending on equipment and facilities is relatively small compared with research costs. This means the main cash drain is people, computing, and science, not large physical assets. The company’s reported runway into the second half of the decade is crucial, because it will likely remain dependent on external funding and partnership inflows until its pipeline or platform generates steadier revenues.

Competitive Edge

Competitive Edge Recursion is trying to differentiate itself as a “tech‑first” drug discovery company rather than a traditional biotech. Its strengths are its large proprietary biological dataset, automated laboratories, powerful computing (including work with NVIDIA), and deep use of AI to search for drug candidates. Big‑pharma collaborations with groups like Roche/Genentech and Sanofi help validate the platform and provide non‑dilutive funding. However, the field of AI‑enabled drug discovery is crowded and moving fast: other startups, large pharma, and big tech are all building similar capabilities. Recursion’s edge depends on how quickly it can turn its data, tools, and partnerships into successful clinical results before competitors catch up or partners choose to build more in‑house.

Innovation and R&D

Innovation and R&D Innovation and R&D are the core of Recursion’s identity. The Recursion OS brings together automated experiments, high‑resolution cell imaging, and advanced machine learning to find new drug targets and candidates in a more systematic, industrial way. The merger with Exscientia adds strength in AI‑based molecule design, giving the combined company a more integrated platform from target discovery through to candidate optimization. The pipeline includes multiple oncology and rare disease programs, and progress there will be the real-world proof of the platform. The flip side is that this is a high‑risk, high‑spend model: success depends on both the AI platform working as hoped and clinical trials delivering positive, regulators-approved outcomes.

Summary

Recursion looks like a well‑funded, high‑ambition platform biotech that is still far from commercial maturity. Financially, it has very limited revenue today, large and growing losses, and significant negative cash flow, all driven by heavy investment in its technology and pipeline. The balance sheet, with substantial cash and low debt, currently supports this strategy, but long timelines and uncertain clinical outcomes remain major risks. Strategically, the company’s strength lies in its data‑rich, automated, AI‑driven approach and in marquee partnerships and computing collaborations that few peers can match. Ultimately, the story will be decided by whether this tech‑centric model can consistently generate valuable drugs and partnership milestones before cash needs force difficult trade‑offs. Uncertainty is high, but so is the potential upside if the approach proves out at the clinic and in the marketplace.

NEWS

November 5, 2025 · 6:30 AM UTC

Recursion Reports Third Quarter 2025 Financial Results and Provides Business Update

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November 5, 2025 · 6:28 AM UTC

Recursion Announces CEO Transition Plan to Drive Next Phase of Growth

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November 4, 2025 · 8:00 AM UTC

Recursion to Participate in Upcoming Investor Conferences

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October 28, 2025 · 8:00 AM UTC

Recursion to Report Third Quarter 2025 Business Updates and Financial Results on November 5th

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