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Stock Market Live July 1, 2026: S&P 500 (SPY) Lower as Investors Wait on the Fed and Fresh Economic Data
Recursion Pharmaceuticals

Recursion Pharmaceuticals (RXRX) Q1 2026 Earnings

Reported May 6, 2026 at 6:31 AM ET · SEC Source

Q1 26 EPS

$-0.22

BEAT +14.43%

Est. $-0.26

Q1 26 Revenue

$6.5M

MISS 58.98%

Est. $15.8M

vs S&P Since Q1 26

+6.4%

BEATING MARKET

RXRX +8.3% vs S&P +1.8%

Market Reaction

Did RXRX Beat Earnings? Q1 2026 Results

Recursion Pharmaceuticals posted a sobering but incrementally improving first quarter for 2026, with revenue falling sharply to $6.47 million from $14.74 million a year ago while the company's net loss narrowed to $117.50 million, translating to a lo… Read more Recursion Pharmaceuticals posted a sobering but incrementally improving first quarter for 2026, with revenue falling sharply to $6.47 million from $14.74 million a year ago while the company's net loss narrowed to $117.50 million, translating to a loss of $0.22 per share. The revenue decline stemmed primarily from reduced Roche collaboration payments as certain prior-period project phases wound down, a structural headwind that weighed on the top line even as the underlying cost structure improved meaningfully. R&D spending dropped to $87.90 million from $129.63 million, in part because the year-ago quarter absorbed $27.10 million in non-cash data acquisition costs, while G&A expenses fell to $34.59 million from $54.65 million. The company ended March with $665.18 million in cash and reiterated guidance for less than $390.00 million in operational cash burn for 2026, projecting runway into early 2028 without additional financing. Adding to the backdrop, founder Chris Gibson's decision not to seek board re-election drew investor attention ahead of the print, though multiple clinical catalysts across REC-4881, REC-1245, and REC-4539 are expected to drive the narrative in the months ahead.

Key Takeaways

  • • Operating efficiencies and strategic reprioritization of clinical portfolio reduced cash operating expenses by approximately 30% YoY
  • • Lower R&D expenses driven by timing of Tempus record purchases and absence of $27.1M non-cash data expenses from Q1 2025
  • • Lower G&A expenses driven by reduced salaries and absence of one-time transaction costs from prior year
  • • Revenue decline due to completion of certain Roche project phases in prior period

RXRX Forward Guidance & Outlook

Recursion reiterates 2026 guidance of less than $390 million in operational cash burn, with cash runway expected to extend into early 2028 without additional financing. The company expects multiple near-term catalysts: REC-4881 regulatory update from FDA engagement in 2H26 with additional clinical data in 1H27; REC-1245 additional Phase 1 dose escalation data in 2H26; go/no-go decisions on IND-enabling studies for REC-7735 and REC-102 in 2H26; early combo safety/PK data for REC-617 in 1H27; early monotherapy data for REC-3565 in 1H27; and early monotherapy safety/PK data for REC-4539 in 2H27. Partnered programs with Sanofi are expected to progress toward development candidate designations, and Roche/Genentech programs are expected to advance toward target validation milestones over the next 12 months.

24/7 Wall St

RXRX YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

“We are seeing strong momentum and execution across our portfolio, with increasing evidence that our full stack platform can translate biological and chemical insights into differentiated clinical programs.”

— Najat Khan, Q1 2026 Earnings Press Release

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