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Recursion Pharmaceuticals, Inc. (RXRX) stock

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NASDAQ: RXRX Nasdaq Biotechnology Next results ~January 22, 2027

C Fundamentals grade

Recursion Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$0.9

Growth cash-flow model

Base case. Range ~$0.8–$1.0. Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Recursion Pharmaceuticals, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 6 selling0 purchases and 35 sales by directors and officers, last 12 monthsInsider trades
  • Funds174 adding, 139 cuttingOf 41 active managers that changed their stake, 21 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Recursion Pharmaceuticals files

10-Q filed November 2: Recursion Pharmaceuticals

Recursion Pharmaceuticals generated $68m in revenue over the twelve months to September 2026, up 56.2% on the prior year, a sharp reversal from the 15.1% decline recorded a quarter earlier. Cash burn has eased too: the free-cash-flow margin improved to -458.0% from -1024.7% a year earlier, while the operating margin widened to -725.4% from -1656.2%. Existing holders face further dilution, however, as the diluted share count has climbed 32.7% over the past year. Taken together, these shifts have lifted the company's fundamentals grade from D to C. Even so, our growth cash-flow model puts fair value at just $0.90 a share, well below the current price of $3.81.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Recursion Pharmaceuticals stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $55m, down 15.1% on a year earlier, against growth of 11.1% a quarter earlier. Free-cash-flow margin fell to -642.2% from -609.7% a year earlier. Operating margin widened to -991.7% from -1005.8%. The diluted share count is up 41.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 7 financial-health checks.

10-Q on SEC EDGAR

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 22, 2027 (estimated)

Recursion Pharmaceuticals, Inc.'s trailing-twelve-month revenue grew 56.2% year on year, with a free-cash-flow margin of -458.0%. Where it stands out: long-term debt as % of assets of 0.0% ranks 9 of 78 biotechnology companies we cover. Where it lags: gross margin of 29.2% ranks 71 of 75 biotechnology companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 56.2% (+71.3pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 56.2% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Growth speeding up. The growth rate is 71.3 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 930.7 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.5bn.

Things to watch

  • Loss-making. Operating margin is -725.4%: costs exceed revenue.
  • Burning cash. Free cash flow was -458.0% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 129.4% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 32.7% in a year.
  • High sales multiple. The shares trade at 30 times revenue while operating margins remain thin.
  • Volatile shares. Over the past year the shares showed annualised volatility of 74% and a beta of 2.9 against the S&P 500.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
-$0.22 against an average estimate of -$0.23: beat by 3.9%
Revenue
$19m, up 258.5% on a year earlier
Share reaction
-7.4% in the first session after the results on October 15, 2026, against -0.8% for the S&P 500
Next report
November 2, 2026; average EPS estimate -$0.22

Recursion Pharmaceuticals' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-5.0%
  • 1 week+0.8%
  • 1 month-7.0%
  • This year-6.4%
  • 1 year-30.6%
  • 5 years-80.9%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$68.2M
Operating margin
-725.4%
Net margin
-697.1%
EPS (TTM, diluted)
$-0.89

Growth

Revenue growth
+56.2%
Change in growth rate
+71.3 pts
Share count change
+32.7%

Cash

Free cash flow (TTM)
-$312M
FCF margin
-458.0%
Stock pay % of revenue
129.4%

Earnings

Last results
November 2, 2026
Next results (est.)
January 22, 2027

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Results
  3. Agreement
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Recursion Pharmaceuticals, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Recursion Pharmaceuticals, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 12.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.72 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.9 ~$0.8–$1.0 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$0.3 ~$0.3–$1.1 Left out: out of range vs price (0.08x)
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$0.9 ~$0.8–$1.0 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Recursion Pharmaceuticals, Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20212022202320242025Now
Share price$17.13$7.71$9.86$6.76$4.09$3.83
Market value$2.1bn$1.4bn$2.0bn$1.9bn$1.8bn$2.0bn
+ Net debt (− = net cash)−$284m−$549m−$390m−$567m−$725m−$538m
Enterprise value$1.9bn$804m$1.7bn$1.3bn$1.1bn$1.5bn
Multiples
Price / sales n/m34.0x46.0x31.5x24.5x29.9x
Price / earnings ——————
Price / free cash flow ——————
EV / EBITDA ——————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

8 /100

Weak moat

How hard Recursion Pharmaceuticals's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -43.4% of total assets over 6 years.

  • Pricing power 0 / 20

    Gross margin has been a median 8.1%, moving by 36.1 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median -797.7%; its worst year was -1656.2%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 6 years, at a median -546.6% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (12 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$0.93 +36% $42m −44%
Next −$0.87 +6% $53m +27%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.8% on 90 days ago. In the last 30 days, 0 analysts raised Recursion Pharmaceuticals, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Recursion Pharmaceuticals, Inc., last 90 days
−$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.92 Current fiscal year, 60 days ago: −$0.92 Current fiscal year, 30 days ago: −$0.92 Current fiscal year, 7 days ago: −$0.93 Current fiscal year, Now: −$0.93 −$0.93 Next fiscal year, 90 days ago: −$0.94 Next fiscal year, 60 days ago: −$0.88 Next fiscal year, 30 days ago: −$0.89 Next fiscal year, 7 days ago: −$0.90 Next fiscal year, Now: −$0.87 −$0.87

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.92−$0.94
60 days ago −$0.92−$0.88
30 days ago −$0.92−$0.89
7 days ago −$0.93−$0.90
Now −$0.93−$0.87

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.23 −$0.22 +3.9%
Jun 2026 −$0.23 −$0.25 −6.8%
Mar 2026 −$0.26 −$0.22 +14.4%
Dec 2025 −$0.32 −$0.21 +33.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

7 analysts, Nov 2026
Buy343%
Hold457%
Sell00%

Monthly trend

  1. Nov 20262147
  2. Oct 20262147
  3. Sep 20262147

Counts of recommendations published by analysts covering Recursion Pharmaceuticals, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
31.7%
of tradable shares
Days to cover
5.28
at average volume
Short interest, 1 month
−9%
to October 15, 2026
Held by institutions
64%
of shares
Held by insiders
1.8%
of shares
Employees
600
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −30.6%

$5.52 on October 31, 2025 to $3.83

ThenNowEffect
Revenue (last 12 months) $65m $55m −15.1%
P/S multiple 30.7x 35.5x +15.4%
Share count 360m 508m −29.2%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 20222023202420252026 to date
Return
RXRX−55%+28%−31%−40%−6%
Industry peers (median)−57%−18%−28%−5%−27%
S&P 500−18%+26%+25%+18%+11%
Months that ended higher
RXRX33%42%33%58%55%
S&P 50042%67%75%75%46%
Largest fall from a high during the year
RXRX−72%−68%−63%−65%−43%
S&P 500−25%−10%−8%−19%−9%

Worst fall since April 16, 2021: 93% from July 13, 2021 to March 30, 2026. Getting back needed a 1355% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$2.84 – $5.44
From 52-week high
−29.6%
vs 50-day average
+2.1%
vs 200-day average
+8.7%
Volatility (1 year)
74%
Beta vs S&P 500
2.90

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
3 up, 8 down
typical move ±7.1%
After a week
4 up, 7 down
typical move ±7.9%
After a month
3 up, 7 down
typical move ±11.1%
Results releasedNext dayS&P 500 next day5 days21 days
October 15, 2026 −7.4% −0.8% −4.3% —
August 5, 2026 −3.9% −0.4% −0.6% +3.9%
May 6, 2026 −3.0% +1.1% −9.5% −1.6%
February 25, 2026 +6.8% +0.3% +3.1% −10.8%
November 5, 2025 −7.6% −0.7% −7.0% −5.8%
August 5, 2025 −5.5% +0.3% −6.7% −22.1%
May 5, 2025 −27.1% −1.4% −18.6% −13.9%
February 28, 2025 −14.1% −0.2% −14.1% −31.0%
November 6, 2024 +1.6% +3.3% +7.3% +17.4%
August 8, 2024 −1.3% +2.8% +5.0% −3.9%
May 9, 2024 +0.1% +0.7% +10.7% +0.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Recursion Pharmaceuticals, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Recursion Pharmaceuticals, Inc.
$40M $50M $60M $70M $80M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $44.6M Revenue (TTM), FY24 Q1: $46.2M Revenue (TTM), FY24 Q2: $49.6M Revenue (TTM), FY24 Q3: $65.2M Revenue (TTM), FY24 Q4: $58.8M Revenue (TTM), FY25 Q1: $59.8M Revenue (TTM), FY25 Q2: $64.6M Revenue (TTM), FY25 Q3: $43.7M Revenue (TTM), FY25 Q4: $74.7M Revenue (TTM), FY26 Q1: $66.4M Revenue (TTM), FY26 Q2: $54.9M Revenue (TTM), FY26 Q3: $68.2M $68.2M

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $44.6M
FY24 Q1 $46.2M
FY24 Q2 $49.6M
FY24 Q3 $65.2M
FY24 Q4 $58.8M
FY25 Q1 $59.8M
FY25 Q2 $64.6M
FY25 Q3 $43.7M
FY25 Q4 $74.7M
FY26 Q1 $66.4M
FY26 Q2 $54.9M
FY26 Q3 $68.2M
Revenue growth, TTM YoY Recursion Pharmaceuticals, Inc.
-50% 0% 50% 100% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 11.9% Revenue growth, TTM YoY, FY24 Q1: -0.9% Revenue growth, TTM YoY, FY24 Q2: -0.7% Revenue growth, TTM YoY, FY24 Q3: 37.6% Revenue growth, TTM YoY, FY24 Q4: 32.0% Revenue growth, TTM YoY, FY25 Q1: 29.3% Revenue growth, TTM YoY, FY25 Q2: 30.1% Revenue growth, TTM YoY, FY25 Q3: -33.0% Revenue growth, TTM YoY, FY25 Q4: 26.9% Revenue growth, TTM YoY, FY26 Q1: 11.1% Revenue growth, TTM YoY, FY26 Q2: -15.1% Revenue growth, TTM YoY, FY26 Q3: 56.2% 56.2%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 11.9%
FY24 Q1 -0.9%
FY24 Q2 -0.7%
FY24 Q3 37.6%
FY24 Q4 32.0%
FY25 Q1 29.3%
FY25 Q2 30.1%
FY25 Q3 -33.0%
FY25 Q4 26.9%
FY26 Q1 11.1%
FY26 Q2 -15.1%
FY26 Q3 56.2%
Operating margin (TTM) Recursion Pharmaceuticals, Inc.
-2000% -1500% -1000% -500% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -785.3% Operating margin (TTM), FY24 Q1: -814.4% Operating margin (TTM), FY24 Q2: -796.5% Operating margin (TTM), FY24 Q3: -604.7% Operating margin (TTM), FY24 Q4: -814.1% Operating margin (TTM), FY25 Q1: -960.1% Operating margin (TTM), FY25 Q2: -1005.8% Operating margin (TTM), FY25 Q3: -1656.2% Operating margin (TTM), FY25 Q4: -867.9% Operating margin (TTM), FY26 Q1: -881.3% Operating margin (TTM), FY26 Q2: -991.7% Operating margin (TTM), FY26 Q3: -725.4% -725.4%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -785.3%
FY24 Q1 -814.4%
FY24 Q2 -796.5%
FY24 Q3 -604.7%
FY24 Q4 -814.1%
FY25 Q1 -960.1%
FY25 Q2 -1005.8%
FY25 Q3 -1656.2%
FY25 Q4 -867.9%
FY26 Q1 -881.3%
FY26 Q2 -991.7%
FY26 Q3 -725.4%
FCF margin (TTM) Recursion Pharmaceuticals, Inc.
-1500% -1000% -500% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: -672.4% FCF margin (TTM), FY24 Q1: -714.2% FCF margin (TTM), FY24 Q2: -689.4% FCF margin (TTM), FY24 Q3: -509.8% FCF margin (TTM), FY24 Q4: -633.7% FCF margin (TTM), FY25 Q1: -665.2% FCF margin (TTM), FY25 Q2: -609.7% FCF margin (TTM), FY25 Q3: -1024.7% FCF margin (TTM), FY25 Q4: -506.5% FCF margin (TTM), FY26 Q1: -490.7% FCF margin (TTM), FY26 Q2: -642.2% FCF margin (TTM), FY26 Q3: -458.0% -458.0%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 -672.4%
FY24 Q1 -714.2%
FY24 Q2 -689.4%
FY24 Q3 -509.8%
FY24 Q4 -633.7%
FY25 Q1 -665.2%
FY25 Q2 -609.7%
FY25 Q3 -1024.7%
FY25 Q4 -506.5%
FY26 Q1 -490.7%
FY26 Q2 -642.2%
FY26 Q3 -458.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 2 4 10 40 45 59 75 68
Gross profit — 4 10 −8 2 14 4 20
EBITDA −60 −81 −174 −234 −326 −443 −564 −421
Operating income −62 −85 −183 −246 −350 −479 −648 −495
Net income −62 −87 −186 −239 −328 −464 −645 −476
Diluted EPS −$2.87 −$3.99 −$1.49 −$1.36 −$1.58 −$1.69 −$1.44 −$0.89
Growth (year on year)
Revenue — +70.8% +156.9% +291.5% +11.9% +32.0% +26.9% +56.2%
Margins
Gross margin — 100.0% 100.0% −21.2% 4.5% 23.1% 5.0% 29.2%
EBITDA margin <−999% <−999% <−999% −587.2% −730.6% −752.1% −755.8% −617.2%
Operating margin <−999% <−999% <−999% −616.7% −785.3% −814.1% −867.9% −725.4%
Net margin <−999% <−999% <−999% −601.0% −736.0% −788.0% −863.4% −697.1%
Free-cash-flow margin <−999% <−999% <−999% −302.6% −672.4% −633.7% −506.5% −458.0%
Cash flow
Cash from operations −57 −45 −159 −84 −288 −359 −372 −311
Capital spending 4 6 40 37 12 14 6 2
Free cash flow −61 −51 −198 −121 −300 −373 −378 −312
Stock-based pay 1 4 15 28 54 82 111 88
Free cash flow after stock pay −62 −56 −213 −148 −353 −455 −490 −401
Balance sheet
Cash 75 262 285 550 392 594 743 550
Total debt 0 12 1 1 1 27 19 12
Net debt (negative = net cash) −75 −250 −284 −549 −390 −567 −725 −538
Diluted shares 22m 22m 125m 176m 208m 274m 447m 532m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · September 30, 2026
What it owns · $1.2bn
Short-term assets $616mLonger-term assets $606m
What it owes, and who funded it · $1.2bn
Short-term liabilities $123mLonger-term liabilities $193mShareholders' equity $906m
  • Short-term assets cover short-term liabilities $616m of assets due within a year against $123m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $616m short-term assets against $193m of longer-dated liabilities.
  • More cash than debt $550m of cash against $93,000 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 0% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt −$311m of operating cash flow against $93,000 of debt.
  • Operating profit covers interest at least five times over Operating income of −$495m against $914,000 of interest.

From Recursion Pharmaceuticals, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+32.7%
year over year
R&D spending
546.0%
of revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated RXRX CYTK ABCL WVE VRDN CUVL Median
Revenue, last 12 months $68m $68m $66m $71m $71m $64m $56m
Revenue growth, last 12 months 56.2% −21.1% 101.3% 202.3% >999% 5.2% 12.6%
Revenue growth, 3-year average 12.9% 89.5% −23.0% 20.7% 264.4% — 13.7%
Revenue growth, latest quarter 258.5% −57.1% −76.3% 72.9% 278.7% — 10.2%
Gross margin 29.2% — — — 54.5% 82.9% 82.9%
Operating margin −725.4% <−999% −340.3% −320.9% −569.7% 43.4% −189.4%
Operating margin, 3-year average −995.4% <−999% −667.5% −256.4% <−999% — −363.5%
Net margin −697.1% <−999% −248.8% −296.9% −544.1% 36.0% −169.8%
Cash from operations / revenue −455.1% −820.8% −143.5% −291.9% −468.7% 20.1% −168.0%
Free-cash-flow margin −458.0% −858.2% −180.8% −293.8% −471.0% 18.4% −162.4%
Free-cash-flow margin, 3-year average −664.1% <−999% −373.0% −148.0% <−999% — −310.0%
Stock pay / revenue 129.4% 188.1% 77.2% 52.8% 75.4% 2.5% 20.0%
Change in share count 32.7% 4.9% 1.7% 20.2% 42.0% 0.7% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 56.2% 12.6% 51 of 172
Change in growth rate Growth +71.3pp -0.1pp 22 of 172
Gross margin Profitability 29.2% 82.4% 71 of 75
Operating margin Profitability -725.4% -189.4% 132 of 175
Net margin Profitability -697.1% -157.3% 135 of 180
Free-cash-flow margin Cash generation -458.0% -145.4% 128 of 176
Stock pay as % of revenue Cash generation 129.4% 19.2% 141 of 179
Long-term debt as % of assets Balance sheet 0.0% 20.6% 9 of 78
Change in share count Balance sheet 32.7% 7.9% 134 of 156

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Licenses and services $74.3M 99.4% ▲ 27.0%
Grant $425,000 0.6% ▲ 21.1%
Geography
Region Revenue Share YoY
United States $39.3M 52.7% ▼ 31.4%
United Kingdom $35.3M 47.3% ▲ 3013.4%
Other Countries $0 0.0% ▼ 100.0%

From Recursion Pharmaceuticals, Inc.'s 10-K filed February 25, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$1.3B
Institutions reporting
342
Shares held vs prior quarter
▲ 7.7%
Positions opened / closed
46 / 39

Top buyers and sellers, Q2 2026: 174 institutions bought and 139 sold ; the biggest buyer was Vanguard Portfolio Management LLC (+8.4M shares) and the biggest seller Lingotto Investment Management LLP (−3.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $185M 50.3M 13.9% ▲ 16.5%
ARK Investment Management LLC $152M 41.3M 11.4% ▲ 2.8%
State Street Corp $127M 34.7M 9.6% ▲ 21.8%
Vanguard Portfolio Management LLC $114M 31.1M 8.6% ▲ 36.8%
Baillie Gifford & Co $86.2M 23.5M 6.5% ▼ 0.8%
Vanguard Capital Management LLC $83.6M 22.8M 6.3% ▲ 2.3%
Geode Capital Management, LLC $50.7M 13.8M 3.8% ▲ 12.6%
Softbank Group Corp. $50M 13.6M 3.8% 0.0%
Mic Capital Management Uk LLP $35.4M 9.6M 2.7% 0.0%
UBS Group AG $32.8M 8.9M 2.5% ▲ 75.4%
Norges Bank $25.1M 6.8M 1.9% —
Data Collective Iv Gp, LLC $21.8M 5.9M 1.6% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Recursion Pharmaceuticals, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $7.7M 35 trades by 6 insiders · 100% under pre-set plans
Net ▼ $7.7M net selling
Insider Date Trade Shares Price Value
Hershberg Robert Director October 6, 2026 Sell pre-set plan 25,000 $5.00 $125,000
Borgeson Blake Director October 6, 2026 Sell pre-set plan 50,000 $4.84 $242,000
Khan Najat CEO and President September 8, 2026 Sell pre-set plan 22,408 $3.52 $78,876
Borgeson Blake Director September 1, 2026 Sell pre-set plan 30,000 $3.34 $100,200
Borgeson Blake Director August 4, 2026 Sell pre-set plan 30,000 $3.25 $97,500
Borgeson Blake Director July 7, 2026 Sell pre-set plan 40,000 $3.96 $158,400
Bumpus Namandje Director June 18, 2026 Sell pre-set plan 3,963 $3.18 $12,602
Khan Najat CEO and President June 5, 2026 Sell pre-set plan 23,588 $3.58 $84,445
Gibson Christopher Director June 5, 2026 Sell pre-set plan 40,000 $3.62 $144,800
Bumpus Namandje Director June 3, 2026 Sell pre-set plan 4,386 $3.54 $15,526
Borgeson Blake Director June 2, 2026 Sell pre-set plan 30,000 $3.68 $110,400
Gibson Christopher Director May 22, 2026 Sell pre-set plan 40,000 $3.08 $123,200

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 22, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • October 15, 2026
  • August 5, 2026
  • May 6, 2026
  • February 25, 2026
  • November 5, 2025

Recent SEC filings

Data status

When each part of this page on Recursion Pharmaceuticals, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Recursion Pharmaceuticals, Inc. in brief

What does Recursion Pharmaceuticals, Inc. do?
Recursion Pharmaceuticals, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Recursion Pharmaceuticals, Inc.'s stock ticker?
Recursion Pharmaceuticals, Inc. trades under the ticker RXRX on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Recursion Pharmaceuticals, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Recursion Pharmaceuticals, Inc. reported revenue of $68.2M, 56.2% higher than a year earlier, according to its SEC filings.
What is Recursion Pharmaceuticals, Inc.'s free cash flow?
Recursion Pharmaceuticals, Inc.'s free-cash-flow margin is -458.0% of revenue over the trailing twelve months, ranking 128 of the 176 biotechnology companies we cover.
Who are Recursion Pharmaceuticals, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., ARK Investment Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Recursion Pharmaceuticals, Inc.'s market cap?
On November 2, 2026, Recursion Pharmaceuticals, Inc.'s market capitalisation was about $2B and net debt of -$538M. Market figures come from third-party market data and may be delayed.
How much debt does Recursion Pharmaceuticals, Inc. have?
Recursion Pharmaceuticals, Inc.'s debt-to-equity ratio is 0.0%, from its latest balance sheet (0.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Recursion Pharmaceuticals, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Recursion Pharmaceuticals, Inc. are Cytokinetics Inc, Abcellera Biologics Inc., Wave Life Sciences, Inc., Viridian Therapeutics, Inc.\de and Clinuvel Pharmaceuticals Ltd. The side-by-side comparison below sets their revenue, margins and growth against Recursion Pharmaceuticals, Inc.'s.
Are insiders buying or selling Recursion Pharmaceuticals, Inc. stock?
Over the last 12 months, Recursion Pharmaceuticals, Inc.'s directors and officers reported 0 open-market purchases and 35 sales on Form 4. The insider trading page charts every trade.
When is Recursion Pharmaceuticals, Inc.'s next earnings date?
Around January 22, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Recursion Pharmaceuticals, Inc. announces its own schedule.