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Recursion Pharmaceuticals

Recursion Pharmaceuticals (RXRX) Q4 2025 Earnings

Reported Feb 25, 2026 at 6:31 AM ET · SEC Source

Q4 25 EPS

$-0.21

BEAT +33.35%

Est. $-0.32

Q4 25 Revenue

$35.5M

BEAT +44.71%

Est. $24.6M

vs S&P Since Q4 25

-13.7%

TRAILING MARKET

RXRX -6.1% vs S&P +7.6%

Full Year 2025 Results

FY 25 EPS

$-1.44

BEAT +10.08%

Est. $-1.60

FY 25 Revenue

$74.7M

BEAT +21.21%

Est. $61.6M

Market Reaction

Did RXRX Beat Earnings? Q4 2025 Results

Recursion Pharmaceuticals delivered a standout fourth quarter, beating on both the top and bottom lines as its AI-native drug discovery platform began translating into clinical and financial results. The clinical-stage TechBio company posted Q4 2025 … Read more Recursion Pharmaceuticals delivered a standout fourth quarter, beating on both the top and bottom lines as its AI-native drug discovery platform began translating into clinical and financial results. The clinical-stage TechBio company posted Q4 2025 revenue of $35.54 million, well ahead of the $22.59 million consensus estimate and representing a 57.31% revenue beat, with year-over-year growth of 687.8% driven primarily by recognition of a $30.00 million milestone payment from Roche and Genentech for a second neuroscience Phenomap. Loss per share narrowed to $0.21, beating the $0.30 consensus estimate by 30.00%, as tighter operational discipline, including cash operating expenses coming in roughly 10% below guidance, helped compress the net loss to $108.12 million from $178.91 million a year earlier. The company ended the period with $753.92 million in cash, extending its runway into early 2028, and management guided 2026 operating cash expense below $390.00 million. Notably, plans for a $300 million at-the-market equity offering have drawn scrutiny over potential dilution, though near-term catalysts, including FDA engagement on a registrational pathway for REC-4881 expected in the first half of 2026, give investors concrete milestones to watch.

Key Takeaways

  • • Recognition of $30 million Roche/Genentech milestone payment for second neuroscience Phenomap (microglia map) in Q4 2025
  • • Increased revenue from Sanofi collaboration including fifth program milestone
  • • Full-year inclusion of Exscientia operations following November 2024 business combination
  • • Operational efficiency improvements and strategic reprioritization of clinical portfolio reducing cash operating expense ~10% below guidance
  • • Approximately 35% reduction in pro forma operating expenses year-over-year
24/7 Wall St

RXRX YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

“Recursion has reached an inflection point: moving from proving that AI can participate in drug discovery to demonstrating that an AI-native operating system can generate clinical proof and durable value. Our first AI-enabled clinical proof of concept in FAP and our fifth program milestone achieved with Sanofi reflect the increasing maturity of a deeply integrated model — one that connects biology, chemistry, and clinical development into a continuous learning system. We enter 2026 with five differentiated clinical programs advancing with defined next-stage milestones, a growing discovery portfolio informed by proprietary platform insights, and more than $500 million in upfront and progress-based milestone payments earned to date. Pairing bold ambition with disciplined execution, we are building Recursion to compound over time — translating insight into molecules, molecules into medicines, and innovation into measurable impact for patients and shareholders alike.”

— Najat Khan, Q4 2025 Earnings Press Release

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