# Recursion Pharmaceuticals, Inc. (RXRX)

> Source: Nexqual · https://nexqual.com/RXRX · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Recursion Pharmaceuticals, Inc. (RXRX), nexqual.com/RXRX" · informational, not investment advice.

**Price:** USD 4.24 (-2.53% on the day) · last close of Oct 29, 2026; US market after hours, not a live price. Prev close 4.35 · day 4.15–4.52 · 52w 2.77–5.84 · market cap $2.53B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $54.9M, net income -$519M (-945.9% margin), free cash flow -$352M (SEC filings).
- Analysts: Buy (mean 2.29 on a 1–5 scale) (7 analysts), mean target USD 7.32 (range 4–10).
- Total return with dividends: 1Y -25.0% vs S&P 500 +14.4%; 5Y -77.9% vs S&P 500 +79.1%.
- Next earnings: 2026-11-02, EPS estimate USD -0.23, revenue estimate $14.8M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $10.2M | $39.8M | $44.6M | $58.8M | $74.7M | $54.9M |
| Gross profit | $10.2M | -$8.4M | $2.0M | $13.6M | $3.7M | — |
| Operating income | -$183M | -$246M | -$350M | -$479M | -$648M | -$544M |
| Net income | -$186M | -$239M | -$328M | -$464M | -$645M | -$519M |
| EPS (diluted) | -$1.49 | -$1.36 | -$1.58 | -$1.69 | -$1.44 | — |
| Free cash flow | -$198M | -$121M | -$300M | -$373M | -$378M | -$352M |
| Gross margin | 100.0% | -21.2% | 4.5% | 23.1% | 5.0% | — |
| Operating margin | -1795.8% | -616.7% | -785.3% | -814.1% | -867.9% | -991.7% |
| Net margin | -1832.2% | -601.0% | -736.0% | -788.0% | -863.4% | -945.9% |
| Revenue growth | +156.9% | +291.5% | +11.9% | +32.0% | +26.9% | — |
| Cash + short-term investments | $517M | $550M | — | — | $743M | — |
| Total debt | $723K | $536K | $1.1M | $19.0M | $9.6M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 46.2x · EV/Sales 36.4x · P/B 2.8x · FCF yield -13.90% · Earnings yield -20.47% · Net cash $541M · EV $1.99B

## Analysts
Consensus Buy (mean 2.29 on a 1–5 scale), 7 analysts; mean target USD 7.32 (low 4, high 10).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Needham | Reiterated | Buy | $8 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -25.0% | -77.9% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | -25.0% | -26.0% |
| Volatility (annualized) | 73.2% | 87.4% |
| Max drawdown | -49.7% (Oct 2025→Mar 2026) | -85.2% (Nov 2021→May 2026) |

## Peers (Biotechnology)
ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · ABVX (Abivax SA) USD 89.06 -0.87%

## More
Full page: https://nexqual.com/RXRX · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in RXRX's own 10-K filed 2026-02-25 (https://www.sec.gov/Archives/edgar/data/1601830/000160183026000039/rxrx-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Alphabet (Google) (GOOGL) | "We rely on third-party data centers and telecommunications solutions, including cloud infrastructure services such as Google Cloud and Amazon Web Services, to host substantial portions of our technology platforms and to …" |
| Supplier | Amazon (AMZN) | "We rely on third-party data centers and telecommunications solutions, including cloud infrastructure services such as Google Cloud and Amazon Web Services, to host substantial portions of our technology platforms and to …" |
| Partner | Genentech | "To date, we have received over $500 million in partner payments for novel data generation (e.g. maps optioned by Roche and Genentech) and advancing AI-designed small molecule programs with Sanofi and others." |
| Partner | Sanofi (SNY) | "To date, we have received over $500 million in partner payments for novel data generation (e.g. maps optioned by Roche and Genentech) and advancing AI-designed small molecule programs with Sanofi and others." |
| Partner | Merck (MRK) | "Through our partnerships with leading pharmaceutical companies including Roche and Genentech, Sanofi, Bayer, and Merck KGaA (Darmstadt, Germany), we have secured more than $500 million in upfront and progress-based miles…" |
| Partner | Exscientia | "◦We may be required to repurchase for cash, or to facilitate the purchase by a third party of, the shares of Class A common stock that were issued to the Bill & Melinda Gates Foundation if we default under the global acc…" |
| Partner | Bayer | "Through our partnerships with leading pharmaceutical companies including Roche and Genentech, Sanofi, Bayer, and Merck KGaA (Darmstadt, Germany), we have secured more than $500 million in upfront and progress-based miles…" |
| Partner | TAKEDA PHARMACEUTICAL CO LTD (TAK) | "During a collaboration with Takeda, we leveraged machine learning and automated analysis to quantify hundreds of cellular parameters linked to APC siRNA knockdown." |
| Partner | NVIDIA (NVDA) | "We largely train models using our own supercomputer, BioHive-2, one of the largest supercomputers in biopharma, built in collaboration with NVIDIA." |
| Partner | Cyclica | "In addition to capital raising issuances, in connection with the acquisitions of Cyclica Inc. (Cyclica) and Valence Discovery Inc. (Valence) in May 2023, we issued 12.4 million shares of our Class A common stock or secur…" |
| Partner | Valence Discovery | "In addition to capital raising issuances, in connection with the acquisitions of Cyclica Inc. (Cyclica) and Valence Discovery Inc. (Valence) in May 2023, we issued 12.4 million shares of our Class A common stock or secur…" |
| Partner | Rallybio Corp (RLYB) | "In addition to capital raising issuances, in connection with the acquisitions of Cyclica Inc. (Cyclica) and Valence Discovery Inc. (Valence) in May 2023, we issued 12.4 million shares of our Class A common stock or secur…" |
| Partner | RE Ventures I | "In addition to capital raising issuances, in connection with the acquisitions of Cyclica Inc. (Cyclica) and Valence Discovery Inc. (Valence) in May 2023, we issued 12.4 million shares of our Class A common stock or secur…" |
| Partner | United Microelectronics (UMC) | "Recursion extended this work through an academic collaboration with Amsterdam UMC, analyzing nearly 20 years of longitudinal follow-up data from approximately 200 patients enrolled in one of the largest and longest runni…" |
| Competitor | Johnson & Johnson (JNJ) | "•JNJ-6786633 (Johnson & Johnson) - An oral MALT1 inhibitor, that showed significant hyperbilirubinemia in the clinic." |
| Competitor | AbbVie (ABBV) | "•ABBV-525 (AbbVie/Lupin) - An oral MALT1 inhibitor with a Phase 1/2a trial ongoing in R/R B-cell malignancies." |
| Competitor | Moderna (MRNA) | "Representative companies include Moderna, BioNTech, and Roivant Sciences." |
| Competitor | Pfizer (PFE) | "Representative companies include Janssen (a subsidiary of Johnson & Johnson), Merck, and Pfizer." |
| Competitor | Microsoft (MSFT) | "Representative companies include Alphabet, Microsoft, and Amazon." |

Other companies that name RXRX in their own reports (relationship from RXRX's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Rallybio Corp (RLYB) | 10-K 2026-03-16 | "In July 2025, we entered into a Membership Interest Purchase Agreement (the "ENPP1 Purchase Agreement") with Recursion Exscientia Ventures I, Inc., an indirect wholly-owned subsidiary of Recursion ("B…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.23 | $-0.23 | $0.00 | $14.8M | 6 |
| Next quarter (ends 2026-12-31) | $-0.22 | $-0.22 | −$0.01 | $14.8M | 6 |
| Current fiscal year (ends 2026-12-31) | $-0.93 | $-0.92 | −$0.01 | $41.8M | 7 |
| Next fiscal year (ends 2027-12-31) | $-0.87 | $-0.94 | +$0.07 | $53.0M | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-02): ±13.6%; last 8 reports averaged ±9.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 1 | 133.8% | ±6.2% |
| 2026-11-06 | 8 | 112.4% | ±13.6% |
| 2026-11-13 | 15 | 92.7% | ±15.2% |
| 2026-11-20 | 22 | 111.2% | ±21.6% |
| 2026-11-27 | 29 | 96.7% | ±21.5% |
| 2026-12-04 | 36 | 222.1% | ±52.7% |
| 2026-12-11 | 43 | 240.8% | ±62.0% |
| 2026-12-18 | 50 | 85.7% | ±25.0% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Oct 15, 2026 | — | — | — | — | -7.4% |
| Aug 5, 2026 | Quarter ended Jun 30, 2026 | −$0.25 | −$0.23 | Miss −8.7% | -3.9% |
| May 6, 2026 | Quarter ended Mar 31, 2026 | −$0.22 | −$0.26 | Beat +15.4% | -3.0% |
| Feb 25, 2026 | Quarter ended Dec 31, 2025 | −$0.21 | −$0.32 | Beat +34.4% | +6.8% |
| Nov 5, 2025 | Quarter ended Sep 30, 2025 | −$0.36 | −$0.38 | Beat +5.3% | -7.6% |
| Aug 5, 2025 | — | — | — | — | -5.5% |
| May 5, 2025 | — | — | — | — | -27.1% |
| Feb 28, 2025 | — | — | — | — | -14.1% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-15 | 8-K | Entered a material agreement; Quarterly results; Regulation FD disclosure; Other material event — “On October 15, 2026, Recursion Pharmaceuticals, Inc. (the "Company" or "Recursion") entered into an underwriting agreement (the "Underwriting Agreement") with Leerink Partners LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC and Evercore Group L.L.C. as representatives of the several underwriters named therein (collectively, the "Underwriters"), relating to the offering of 61,540,000 shares of its Class A common stock, par value $0.00001 per share (the "Class A Common Stock", and the offering of such shares,…” | https://www.sec.gov/Archives/edgar/data/1601830/000160183026000128/0001601830-26-000128-index.htm |
| 2026-09-21 | 8-K | Entered a material agreement — “Recursion Pharmaceuticals, Inc. (the "Company") and Tempus AI, Inc. ("Tempus"), acknowledging the value of (i) Tempus's library of multimodal data and (ii) Recursion's proprietary foundational RNA sequencing model (the "TxFM Model"), have entered into the following agreements: Amendment to Tempus Master Agreement On September 15, 2026, the Company entered into an Amendment to the Master Agreement (the "Amendment") between the Company and Tempus, dated as of November 3, 2023, as previously disclosed in the…” | https://www.sec.gov/Archives/edgar/data/1601830/000160183026000112/0001601830-26-000112-index.htm |
| 2026-08-07 | Schedule 13G | STATE STREET CORPORATION: 6.6% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1601830/000009375126000530/0000093751-26-000530-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/1601830/000160183026000098/0001601830-26-000098-index.htm |
| 2026-08-05 | 8-K | Quarterly results; Regulation FD disclosure | https://www.sec.gov/Archives/edgar/data/1601830/000160183026000097/0001601830-26-000097-index.htm |
| 2026-07-31 | Schedule 13G | Vanguard Portfolio Management: 6.0% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1601830/000210012126000994/0002100121-26-000994-index.htm |
| 2026-07-31 | Schedule 13G | Vanguard Capital Management: 5.1% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/1601830/000210011926001441/0002100119-26-001441-index.htm |
| 2026-07-29 | Schedule 13G/A | BlackRock, Inc.: 8.5% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/1601830/000201238326002868/0002012383-26-002868-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.