Recursion Pharmaceuticals, Inc. Financials
Recursion Pharmaceuticals, Inc. (RXRX) reported $74.7M in revenue for fiscal year 2025, up 26.9% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Equity-funded R&D expansion dominates the model, with cash reserves replacing debt while losses outrun a still-small revenue base.
A FY2025 net loss of$645M translated into free cash outflow of$378M , a wide gap that suggests reported losses include substantial non-cash expense rather than equally large immediate cash use. Because capex was only$6.5M while R&D reached$475M , the burn is being driven by ongoing research operations, not by building a capital-heavy physical footprint.
The balance sheet remains cash-rich and lightly levered: year-end cash of
Spending growth has been research-led, not sales-led: R&D climbed from
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Recursion Pharmaceuticals, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Recursion Pharmaceuticals, Inc. scores 0.07, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($1.7B) relative to total liabilities ($343.3M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Recursion Pharmaceuticals, Inc. passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Recursion Pharmaceuticals, Inc. reported a net loss of $644.8M while operations used $371.8M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Recursion Pharmaceuticals, Inc. reported an operating loss of $648.1M against $1.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Recursion Pharmaceuticals, Inc. generated $74.7M in revenue in fiscal year 2025. This represents an increase of 26.9% from the prior year.
Recursion Pharmaceuticals, Inc.'s EBITDA was -$564.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 27.6% from the prior year.
Recursion Pharmaceuticals, Inc. reported -$644.8M in net income in fiscal year 2025. This represents a decrease of 39.1% from the prior year.
Recursion Pharmaceuticals, Inc. earned -$1.44 per diluted share (EPS) in fiscal year 2025.
Cash & Balance Sheet
Recursion Pharmaceuticals, Inc. recorded an outflow of $378.3M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents a decrease of 1.5% from the prior year.
Recursion Pharmaceuticals, Inc. held $743.3M in cash against $9.6M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Recursion Pharmaceuticals, Inc.'s gross margin was 5.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 18.1 percentage points from the prior year.
Recursion Pharmaceuticals, Inc.'s ROE was -57.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.2 percentage points from the prior year.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for fiscal year 2025: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Recursion Pharmaceuticals, Inc. invested $475.3M in research and development in fiscal year 2025. This represents an increase of 51.2% from the prior year.
Recursion Pharmaceuticals, Inc. invested $6.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.8% from the prior year.
Not reported for fiscal year 2025.
RXRX Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $54.9M | $74.7M+26.9% | $58.8M+32.0% | $44.6M+11.9% | $39.8M+291.5% | $10.2M+156.9% | $4.0M+70.8% | $2.3M |
| Cost of Revenue | $52.9M | $71.0M+56.8% | $45.2M+6.2% | $42.6M-11.8% | $48.3M | $0 | $0 | N/A |
| Gross Profit | $1.9M | $3.7M-72.6% | $13.6M+584.2% | $2.0M+123.6% | -$8.4M-182.8% | $10.2M+156.9% | $4.0M | N/A |
| R&D Expenses | $394.5M | $475.3M+51.2% | $314.4M+30.3% | $241.2M+54.9% | $155.7M+15.1% | $135.3M+113.6% | $63.3M+38.2% | $45.8M |
| SG&A Expenses | $151.4M | $176.6M-0.9% | $178.2M+60.8% | $110.8M+35.8% | $81.6M+41.5% | $57.7M+128.4% | $25.3M+33.3% | $19.0M |
| Operating Income | -$544.0M | -$648.1M-35.3% | -$479.0M-36.8% | -$350.1M-42.5% | -$245.7M-34.4% | -$182.8M-116.0% | -$84.6M-35.5% | -$62.4M |
| Interest Expense | $1.5M | $1.8M+15.1% | $1.6M+1520.6% | $97K+76.4% | $55K-98.1% | $3.0M+117.1% | $1.4M+114.2% | $635K |
| Income Tax | -$4.6M | -$136K+87.9% | -$1.1M+72.3% | -$4.1M | $0 | $0 | $0 | $0 |
| Net Income | -$518.9M | -$644.8M-39.1% | -$463.7M-41.3% | -$328.1M-37.0% | -$239.5M-28.4% | -$186.5M-114.3% | -$87.0M-40.6% | -$61.9M |
| EPS (Diluted) | — | -$1.44 | -$1.69-7.0% | -$1.58-16.2% | -$1.36+8.7% | -$1.49 | -$3.99-39.0% | -$2.87 |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RXRX Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+1.8% | $1.4B+121.6% | $653.7M-6.8% | $701.3M+14.9% | $610.3M+104.4% | $298.6M | N/A |
| Current Assets | $812.8M+13.8% | $714.3M+63.0% | $438.1M-23.1% | $569.8M+6.6% | $534.7M+100.7% | $266.4M | N/A |
| Cash & Equivalents | $743.3M+25.1% | $594.4M+51.8% | $391.6M-28.8% | $549.9M+92.9% | $285.1M+8.8% | $262.1M+248.7% | $75.2M |
| Accounts Receivable | N/A | N/A | N/A | $0-100.0% | $34K-78.2% | $156K | N/A |
| Goodwill | $162.2M+8.9% | $148.9M+186.0% | $52.1M+6398.9% | $801K0.0% | $801K0.0% | $801K | N/A |
| Total Liabilities | $343.3M-17.0% | $413.8M+117.5% | $190.3M-11.7% | $215.5M+219.7% | $67.4M-86.6% | $504.9M | N/A |
| Current Liabilities | $147.7M-21.2% | $187.5M+101.2% | $93.2M-7.1% | $100.3M+114.9% | $46.7M+102.0% | $23.1M | N/A |
| Long-Term Debt | $9.6M-49.7% | $19.0M+1627.7% | $1.1M | N/A | $723K | N/A | N/A |
| Total Equity | $1.1B+9.3% | $1.0B+123.3% | $463.4M-4.6% | $485.8M-10.5% | $542.9M+363.2% | -$206.3M-66.0% | -$124.3M |
| Retained Earnings | -$2.1B-45.0% | -$1.4B-47.9% | -$967.6M-51.3% | -$639.6M-59.9% | -$400.1M-87.3% | -$213.6M | N/A |
Not reported in any period shown, so not listed: Inventory.
RXRX Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$350.5M | -$371.8M-3.5% | -$359.2M-24.8% | -$287.8M-244.5% | -$83.5M+47.3% | -$158.6M-249.4% | -$45.4M+20.4% | -$57.0M |
| Capital Expenditures | $1.8M | $6.5M-52.8% | $13.7M+14.6% | $12.0M-67.7% | $37.1M-6.9% | $39.8M+582.5% | $5.8M+49.1% | $3.9M |
| Free Cash Flow | -$352.3M | -$378.3M-1.5% | -$372.9M-24.4% | -$299.7M-148.6% | -$120.6M+39.2% | -$198.4M-287.3% | -$51.2M+16.0% | -$61.0M |
| Investing Cash Flow | -$6.1M | -$16.9M-106.5% | $260.1M+2642.6% | -$10.2M-105.3% | $193.2M+171.1% | -$271.7M-3009.2% | -$8.7M-123.5% | -$3.9M |
| Financing Cash Flow | $378.6M | $521.5M+71.5% | $304.1M+117.0% | $140.1M-9.2% | $154.3M-66.3% | $458.5M+86.3% | $246.1M+104.4% | $120.4M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
RXRX Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 5.0%-18.1pp | 23.1%+18.7pp | 4.5%+25.6pp | -21.2%-121.2pp | 100.0%0.0pp | 100.0% | N/A |
| Operating Margin | -867.9% | -814.1% | -785.3% | -616.7% | -1795.8% | -2135.7% | -2692.6% |
| Net Margin | -863.4% | -788.0% | -736.0% | -601.1% | -1832.2% | -2196.0% | -2668.3% |
| Return on Equity | -57.0%-12.2pp | -44.8%+26.0pp | -70.8%-21.5pp | -49.3%-14.9pp | -34.4% | N/A | N/A |
| Return on Assets | -43.7%-11.7pp | -32.0%+18.2pp | -50.2%-16.0pp | -34.2%-3.6pp | -30.6%-1.4pp | -29.1% | N/A |
| Current Ratio | 5.50+1.7x | 3.81-0.9x | 4.70-1.0x | 5.68-5.8x | 11.46-0.1x | 11.53 | N/A |
| Debt-to-Equity | 0.010.0x | 0.020.0x | 0.00-0.4x | 0.44+0.4x | 0.00 | N/A | N/A |
| FCF Margin | -506.5% | -633.7% | -672.4% | -302.6% | -1949.4% | -1293.0% | -2628.4% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Recursion Pharmaceuticals, Inc. Ranks
Frequently Asked Questions
What is Recursion Pharmaceuticals, Inc.'s annual revenue?
Recursion Pharmaceuticals, Inc. (RXRX) reported $74.7M in total revenue for fiscal year 2025. This represents a 26.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Recursion Pharmaceuticals, Inc.'s revenue growing?
Recursion Pharmaceuticals, Inc. (RXRX) revenue grew by 26.9% year-over-year, from $58.8M to $74.7M in fiscal year 2025.
Is Recursion Pharmaceuticals, Inc. profitable?
No, Recursion Pharmaceuticals, Inc. (RXRX) reported a net income of -$644.8M in fiscal year 2025.
What is Recursion Pharmaceuticals, Inc.'s EBITDA?
Recursion Pharmaceuticals, Inc. (RXRX) had EBITDA of -$564.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Recursion Pharmaceuticals, Inc. have?
As of fiscal year 2025, Recursion Pharmaceuticals, Inc. (RXRX) had $743.3M in cash and equivalents against $9.6M in long-term debt.
What is Recursion Pharmaceuticals, Inc.'s gross margin?
Recursion Pharmaceuticals, Inc. (RXRX) had a gross margin of 5.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Recursion Pharmaceuticals, Inc.'s return on equity (ROE)?
Recursion Pharmaceuticals, Inc. (RXRX) has a return on equity of -57.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Recursion Pharmaceuticals, Inc.'s free cash flow?
Recursion Pharmaceuticals, Inc. (RXRX) recorded an outflow of $378.3M in free cash flow during fiscal year 2025. This represents a -1.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Recursion Pharmaceuticals, Inc.'s operating cash flow?
Recursion Pharmaceuticals, Inc. (RXRX) recorded an outflow of $371.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Recursion Pharmaceuticals, Inc.'s total assets?
Recursion Pharmaceuticals, Inc. (RXRX) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Recursion Pharmaceuticals, Inc.'s capital expenditures?
Recursion Pharmaceuticals, Inc. (RXRX) invested $6.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Recursion Pharmaceuticals, Inc. spend on research and development?
Recursion Pharmaceuticals, Inc. (RXRX) invested $475.3M in research and development during fiscal year 2025.
What is Recursion Pharmaceuticals, Inc.'s current ratio?
Recursion Pharmaceuticals, Inc. (RXRX) had a current ratio of 5.50 as of fiscal year 2025, which is generally considered healthy.
What is Recursion Pharmaceuticals, Inc.'s debt-to-equity ratio?
Recursion Pharmaceuticals, Inc. (RXRX) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Recursion Pharmaceuticals, Inc.'s return on assets (ROA)?
Recursion Pharmaceuticals, Inc. (RXRX) had a return on assets of -43.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Recursion Pharmaceuticals, Inc.'s cash runway?
Based on fiscal year 2025 data, Recursion Pharmaceuticals, Inc. (RXRX) had $743.3M in cash against an annual operating cash burn of $371.8M. This gives an estimated cash runway of approximately 24 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Recursion Pharmaceuticals, Inc.'s Altman Z-Score?
Recursion Pharmaceuticals, Inc. (RXRX) has an Altman Z-Score of 0.07, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Recursion Pharmaceuticals, Inc.'s Piotroski F-Score?
Recursion Pharmaceuticals, Inc. (RXRX) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Recursion Pharmaceuticals, Inc.'s earnings high quality?
Recursion Pharmaceuticals, Inc. (RXRX) reported a net loss of $644.8M while operations used $371.8M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Recursion Pharmaceuticals, Inc. cover its interest payments?
Recursion Pharmaceuticals, Inc. (RXRX) reported an operating loss of $648.1M against $1.8M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Recursion Pharmaceuticals, Inc.?
Recursion Pharmaceuticals, Inc. (RXRX) scores 60 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.