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Recursion Pharmaceuticals (RXRX) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 2, 2026 · Recursion Pharmaceuticals (RXRX) Q3 2026 earnings results →
Q3 2026 Revenue up 258% year over year to $18.6M · 642¢ of every $1 of revenue lost · operating margin -663.9%
Recursion Pharmaceuticals made $18.6M in Q3 2026 (+258% Y/Y): Operating revenue $18.1M, Grant revenue $497K. Operating margin -663.9%, net loss $119M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 2, 2026.
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What changed this quarter
Revenue was $18.6M in Q3 2026, up 258% year over year and up 142% from the previous quarter. Operating revenue was the largest line at 97% of revenue. Operating revenue added $13.1M year over year (up 262%), 98% of the total change.
Operating costs exceeded revenue by $123.2M, an operating margin of -663.9%. Total costs fell 20% while revenue rose 258%. The quarter ended with a net loss of $119.0M, narrower than the previous quarter's $131.0M loss.
Operating cash flow was −$77.4M. Non-cash charges added back $16.5M of depreciation and amortization and $23.0M of share-based compensation. Capital expenditures of $407K exceeded it, leaving free cash flow of −$77.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 2, 2026 | $18.6M | +258% | -663.9% | −$119M | −$77.4M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $7.7M | -60% | n/m | −$131M | −$106M |
| Q1 2026 | 10-Q | May 6, 2026 | $6.5M | -56% | n/m | −$118M | −$81.1M |
| Q4 2025 | 10-K | Feb 25, 2026 | $35.5M | +682% | -304.8% | −$108M | −$46.1M |
| Q3 2025 | 10-Q | Nov 5, 2025 | $5.2M | -80% | n/m | −$162M | −$117M |
| Q2 2025 | 10-Q | Aug 5, 2025 | $19.2M | +33% | -916.8% | −$172M | −$76.4M |
| Q1 2025 | 10-Q | May 5, 2025 | $14.7M | +7% | n/m | −$202M | −$132M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Recursion Pharmaceuticals
Recursion is a clinical-stage TechBio company with a mission to decode biology to radically improve lives. We have advanced a portfolio of differentiated internal programs and strategic partnerships powered by our integrated drug discovery and development platform, the Recursion Operating System (OS). This platform provides end-to-end, AI-native capabilities that span from novel biological ideas through the clinic, integrating multimodal biological data generation, AI-powered small molecule synthesis, and AI-enabled clinical development. All of our technologies are designed to translate complex science into medicines that matter — faster, better, and at scale — for patients who are waiting.
In its own words, from its 10-K, filed Feb 25, 2026.
Recursion Pharmaceuticals against its Biological Products, (No Diagnostic Substances) peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +258% against the peers' median +29%. Operating margin: -663.9% against the peers' median 35.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| RXRX Recursion Pharmaceuticals | Q3 2026 | $18.6M | +258% | -663.9% |
| AMGN Amgen | Q3 2026 | $10.4B | +8% | 35.8% |
| GILD Gilead Sciences | Q3 2026 | $8.3B | +7% | 41.7% |
| BIIB Biogen | Q3 2026 | $2.8B | +11% | -0.3% |
| MRNA Moderna | Q3 2026 | $1.3B | +29% | 9.9% |
| NBIX Neurocrine Biosciences | Q3 2026 | $1.1B | +41% | 29.5% |
| EXEL Exelixis | Q3 2026 | $659M | +10% | 40.8% |
| HALO Halozyme Therapeutics | Q3 2026 | $493M | +39% | 59.8% |
| MGTX MeiraGTx Holdings | Q2 2026 | $321M | 87× | 76.0% |
Source: Recursion Pharmaceuticals 10-Q on SEC EDGAR · CIK 1601830 · Biological Products, (No Diagnostic Substances)
Guidance and outlook
13F: who owns RXRX and who is buying
More on RXRX
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- Recursion Pharmaceuticals stock forecast, price target and fair value
- Who owns Recursion Pharmaceuticals stock: holders, funds and Congress trades
- Recursion Pharmaceuticals guidance and outlook
- Recursion Pharmaceuticals recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
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