S&P 500
7,747.90
+0.16%
Dow Jones
53,777.60
-0.08%
Nasdaq 100
29,772.20
+0.70%
Russell 2000
3,046.67
+0.60%
FTSE 100
10,854.00
+0.18%
Nikkei 225
68,465.70
+1.91%
Recursion Pharmaceuticals

Recursion Pharmaceuticals (RXRX) Q2 2026 Earnings

Reported Aug 5, 2026 at 6:31 AM ET · SEC Source

Q2 26 EPS

$-0.25

MISS 6.84%

Est. $-0.23

Q2 26 Revenue

$7.7M

MISS 35.89%

Est. $12.0M

vs S&P Since Q2 26

-1.5%

TRAILING MARKET

RXRX -1.2% vs S&P +0.3%

Market Reaction

Did RXRX Beat Earnings? Q2 2026 Results

Recursion Pharmaceuticals delivered a notably disappointing second quarter, missing on both top and bottom lines as collaboration revenue continued to contract sharply. Revenue came in at $7.67 million, falling 59.9% from $19.22 million a year ago an… Read more Recursion Pharmaceuticals delivered a notably disappointing second quarter, missing on both top and bottom lines as collaboration revenue continued to contract sharply. Revenue came in at $7.67 million, falling 59.9% from $19.22 million a year ago and badly trailing the $11.96 million consensus by 35.89%, while the company posted an EPS loss of $0.25 against an expected loss of $0.23, a 6.84% miss. The primary culprit was the wind-down of certain Roche/Genentech collaboration phases, which had contributed meaningfully to the prior-year comparison. On a brighter note, net losses narrowed to $131.00 million from $171.90 million as R&D spending fell sharply to $89.61 million from $128.64 million, partly reflecting dramatically lower Tempus data costs. Management trimmed its full-year 2026 cash operating expense guidance to below $375.00 million, down $15.00 million from prior guidance, and the company's $556.82 million cash position supports a runway into early 2028; near-term catalysts including the ZINNIA trial initiation for REC-7735 and potential Sanofi development candidate milestones will be closely watched by investors looking for momentum.

Key Takeaways

  • • Lower R&D costs due to timing of Tempus record purchases ($3.1M vs $22.7M non-cash expense in Q2 2025)
  • • Improved operating efficiency reduced total operating costs and expenses to $142.6M from $195.5M YoY
  • • Headcount reductions drove $4.9M decrease in G&A salaries
  • • Lowered full-year 2026 cash operating expense guidance by $15M to <$375M

RXRX Forward Guidance & Outlook

Recursion lowered its 2026 cash operating expense guidance to less than $375 million (from less than $390 million previously), reflecting additional identified operating efficiencies. The company expects its cash runway to extend into early 2028 without additional financing. Key near-term catalysts include: FDA regulatory update on REC-4881 registrational path in 2H26; additional Phase 2 data for REC-4881 at CGA-IGC in November 2026; Phase 1/2 ZINNIA trial initiation for REC-7735 in 2H26; additional Phase 1 dose escalation data for REC-1245 in 2H26; potential development candidate milestones with Sanofi over the next 6-12 months; and advancing the Genentech-optioned neuroscience target through small molecule design.

24/7 Wall St

RXRX YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

“Recursion has reached a pivotal point where our AI-native platform is translating unique data into potential first-in-class therapeutic opportunities. The advancement of the first unexplored neuroscience target from our collaboration with Roche and Genentech into an early discovery program is an important proof point. Finding new targets in neuroscience has historically been challenging, and this milestone highlights our ability to uncover novel biology in areas where conventional approaches have struggled.”

— Najat Khan, Q2 2026 Earnings Press Release

Back to RXRX Stock Page