Every 10-Q that Recursion Pharmaceuticals, Inc. (RXRX) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow RXRX and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full RXRX filings page.
Recursion Pharmaceuticals is a clinical-stage TechBio company using an AI-native platform to discover drugs through large-scale biological and chemical datasets. For the quarter ended June 30, 2026, total revenue was 7,670 (in thousands), down 60% from 19,223 (in thousands), mainly as Roche collaboration phases completed. Grant revenue grew but remains small. Unearned revenue was 140,404 (in thousands) as of June 30, 2026, reflecting future work under partnerships with Roche/Genentech, Sanofi and Merck.
Operating costs for the quarter were 142,638 (in thousands), a 27% decrease year over year, driven largely by lower platform spend and reduced Tempus data purchases, as well as headcount reductions. Net loss improved to 131,005 (in thousands), versus 171,897 (in thousands), with net loss per share at (0.25) versus (0.41). For the first six months of 2026, net loss was 248,509 (in thousands) on 14,143 (in thousands) of revenue, while research and development remained substantial at 177,510 (in thousands).
Cash, cash equivalents and restricted cash totaled 556,820 (in thousands) at June 30, 2026, after 187,048 (in thousands) of operating cash outflows in the first half. Management states this liquidity should fund operations for at least the next 12 months and also has a 300,000 (in thousands) at-the-market equity program available. The company highlights progress in its internal oncology and FAP programs and in its Roche and Sanofi collaborations, while also disclosing that disclosure controls remain ineffective due to previously identified material weaknesses, with remediation actions underway.
Recursion Pharmaceuticals reported a smaller quarterly loss while tightening spending and maintaining a strong cash position. For the quarter ended March 31, 2026, total revenue was $6.5 million, down from $14.7 million a year earlier, mainly due to lower collaboration revenue from Roche as projects reached completion. Operating expenses fell to $135.0 million from $206.1 million, driven by reduced platform spending, no new Tempus data purchases, and lower stock-based compensation and G&A after portfolio reprioritization and prior-year Exscientia-related costs. Net loss narrowed to $117.5 million from $202.5 million. Cash, cash equivalents and restricted cash were $665.2 million, and the company expects this to fund operations for at least 12 months while it advances a broad AI-enabled pipeline and major collaborations with Sanofi, Merck and Roche/Genentech. Recursion also has a $300 million at-the-market equity program available but unsused this quarter and continues to report material weaknesses in internal control over financial reporting related to the Exscientia acquisition, with remediation efforts ongoing.
Recursion Pharmaceuticals (RXRX) filed its Q3 2025 10‑Q, reporting total revenue of $5.2 million, down from $26.1 million a year ago, and a net loss of $162.3 million. Operating expenses rose as the company invested in R&D and integration activities, driving a loss from operations of $172.2 million.
Cash and cash equivalents were $659.8 million as of September 30, 2025. The company raised capital through at‑the‑market sales, issuing 74.6 million shares for $358.2 million in net proceeds under its Citi program, with additional capacity utilized in October. Shares outstanding reached 491.8 million.
Recursion completed several portfolio moves: it acquired the remaining interest in RE Ventures I (recognizing $20.2 million of acquired IPR&D and a $2.4 million milestone), and earlier sold its Austrian operations, recording a $4.5 million loss and retaining a 49% stake in Alpha Biotechnology. A June 2025 restructuring reduced headcount by about 20%, with expected charges of approximately $9.5 million. Collaboration activity continued, including a $7.0 million Sanofi milestone recognized over time and ongoing revenue recognition from the Roche acceptance fee. Management believes existing cash will fund operations for at least 12 months.
Recursion Pharmaceuticals (RXRX) 10-Q – Q2 2025
Operating revenue rose 33% YoY to $19.1 m for the quarter (H1 25: $34.0 m, +24%), driven by AI-enabled discovery collaborations. However, spending accelerated faster:
- R&D up 74% to $128.6 m (H1: $258.3 m)
- Cost of revenue doubled to $20.2 m
- G&A up 47% to $46.7 m
Cash & equivalents fell to $525 m from $594 m at FY-24, reflecting a $208 m H1 operating cash burn, partly offset by $104 m raised under a new Citi ATM program and $100 m June share issuance. Liquidity is expected to cover >12 months of operations.
Balance sheet impact of the Nov-24 $630 m Exscientia acquisition now finalized: goodwill $164 m, intangibles $341 m. Workforce reduction (~20%) triggered $9.3 m restructuring charge, aimed at post-integration efficiencies. Share count rose to 432.8 m (Class A 425.5 m; Class B 6.8 m).
Unearned revenue declined to $166 m as milestone recognition outpaced new collaboration inflows. Management continues to flag substantial funding needs and execution risks in R&D, integration and litigation.