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
+10.6%
BEATING MARKET
RXRX +12.1% vs S&P +1.5%
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.
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
RXRX Earnings Trends
RXRX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
RXRX EPS Trend
Earnings per share: estimate vs actual
RXRX Revenue Trend
Quarterly revenue: estimate vs actual
RXRX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.26 | $-0.22 | +14.43% | $6.5M | -58.98% |
| Q4 25 BEAT FY | $-0.32 | $-0.21 | +33.35% | $35.5M | +44.71% |
| FY Full Year | $-1.60 | $-1.44 | +10.08% | $74.7M | +21.21% |
| Q3 25 BEAT | $-0.38 | $-0.36 | +5.69% | $5.2M | -73.27% |
| Q2 25 MISS | $-0.35 | $-0.41 | -16.05% | $19.2M | +24.96% |
| Q1 25 BEAT | $-0.52 | $-0.50 | +3.10% | $14.7M | -18.46% |