Recursion Pharmaceuticals (RXRX) Financials

$2.93 -0.11 (-3.62%)

Closing price 05/15/2026 04:00 PM Eastern

Extended Trading

$2.92 -0.01 (-0.44%)

As of 05/15/2026 08:00 PM Eastern

Annual Income Statements for Recursion Pharmaceuticals

This table shows Recursion Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-62	-87	-186	-239	-328	-464	-645
Consolidated Net Income / (Loss)	-62	-87	-186	-239	-328	-464	-645
Net Income / (Loss) Continuing Operations	-62	-87	-186	-239	-328	-464	-645
Total Pre-Tax Income	-62	-85	-186	-239	-332	-465	-645
Total Operating Income	-62	-85	-183	-246	-350	-479	-648
Total Gross Profit	2.32	3.96	10	-8.43	1.99	14	3.73
Total Revenue	2.32	3.96	10	40	45	59	75
Operating Revenue	2.32	3.96	10	40	45	59	75
Total Cost of Revenue	0.00	0.00	0.00	48	43	45	71
Operating Cost of Revenue	-	0.00	0.00	48	43	45	71
Total Operating Expenses	65	89	193	237	352	493	652
Selling, General & Admin Expense	19	25	58	82	111	178	177
Research & Development Expense	46	63	135	156	241	314	475
Total Other Income / (Expense), net	0.00	0.00	-3.70	6.25	18	14	3.24
Other Income / (Expense), net	-	-	-3.70	6.25	18	14	3.24
Income Tax Expense	-	-	0.00	0.00	-4.06	-1.13	-0.14
Basic Earnings per Share	($2.87)	($3.99)	($1.49)	($1.36)	($1.58)	($1.69)	($1.44)
Weighted Average Basic Shares Outstanding	21.57M	21.78M	125.35M	175.54M	207.85M	274.21M	447.45M
Diluted Earnings per Share	($2.87)	($3.99)	($1.49)	($1.36)	($1.58)	($1.69)	($1.44)
Weighted Average Diluted Shares Outstanding	21.57M	21.78M	125.35M	175.54M	207.85M	274.21M	447.45M
Weighted Average Basic & Diluted Shares Outstanding	-	-	170.77M	191.23M	234.65M	401.99M	527.40M

This table shows Recursion Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-93	-93	-91	-98	-96	-179	-202	-172	-162	-108	-118
Consolidated Net Income / (Loss)	-93	-93	-91	-98	-96	-179	-202	-172	-162	-108	-118
Net Income / (Loss) Continuing Operations	-93	-93	-91	-98	-96	-179	-202	-172	-162	-108	-118
Total Pre-Tax Income	-93	-97	-92	-98	-96	-179	-203	-172	-162	-108	-122
Total Operating Income	-100	-99	-96	-101	-98	-184	-191	-176	-172	-108	-129
Total Gross Profit	-0.34	1.01	2.63	5.22	14	-8.25	-7.08	-0.94	-9.51	21	-6.02
Total Revenue	11	11	14	14	26	4.55	15	19	5.18	36	6.47
Operating Revenue	11	11	14	14	26	4.55	15	19	5.18	36	6.47
Total Cost of Revenue	11	9.88	11	9.20	12	13	22	20	15	14	12
Operating Cost of Revenue	11	9.88	11	9.20	12	13	22	20	15	14	12
Total Operating Expenses	99	100	99	106	112	176	184	175	163	130	122
Selling, General & Admin Expense	29	30	31	32	38	77	55	47	42	34	35
Research & Development Expense	70	69	68	74	75	98	130	129	121	96	88
Total Other Income / (Expense), net	6.53	1.87	4.19	2.48	2.68	4.87	-11	4.33	9.95	0.23	6.40
Other Income / (Expense), net	6.53	1.87	4.19	2.48	2.68	4.87	-11	4.33	9.95	0.23	6.40
Income Tax Expense	0.00	-4.06	-0.78	-0.52	0.17	0.01	-0.16	0.00	0.00	0.02	-4.60
Basic Earnings per Share	($0.43)	($0.43)	($0.39)	($0.40)	($0.34)	($0.56)	($0.50)	($0.41)	($0.36)	($0.17)	($0.22)
Weighted Average Basic Shares Outstanding	214.33M	207.85M	236.02M	242.20M	282.58M	274.21M	402.77M	417.36M	446.99M	447.45M	529.30M
Diluted Earnings per Share	($0.43)	($0.43)	($0.39)	($0.40)	($0.34)	($0.56)	($0.50)	($0.41)	($0.36)	($0.17)	($0.22)
Weighted Average Diluted Shares Outstanding	214.33M	207.85M	236.02M	242.20M	282.58M	274.21M	402.77M	417.36M	446.99M	447.45M	529.30M
Weighted Average Basic & Diluted Shares Outstanding	216.62M	234.65M	237.66M	281.11M	286.64M	401.99M	406.50M	434.15M	520.64M	527.40M	529.91M

This table details how cash moves in and out of Recursion Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	59	192	28	264	-158	202	151
Net Cash From Operating Activities	-57	-45	-159	-84	-288	-359	-372
Net Cash From Continuing Operating Activities	-57	-45	-159	-84	-288	-359	-372
Net Income / (Loss) Continuing Operations	-62	-87	-186	-239	-328	-464	-645
Consolidated Net Income / (Loss)	-62	-87	-186	-239	-328	-464	-645
Depreciation Expense	2.49	3.94	8.41	12	24	36	84
Non-Cash Adjustments To Reconcile Net Income	2.88	33	9.77	39	25	78	189
Changes in Operating Assets and Liabilities, net	-0.53	4.17	9.69	104	-9.18	-9.96	0.60
Net Cash From Investing Activities	-3.91	-8.74	-272	193	-10	260	-17
Net Cash From Continuing Investing Activities	-3.91	-8.74	-272	193	-10	260	-17
Purchase of Property, Plant & Equipment	-3.91	-5.83	-40	-37	-12	-14	-6.47
Acquisitions	0.00	-3.50	0.00	-0.30	1.25	274	-2.16
Purchase of Investments	0.00	0.00	-301	-	0.00	0.00	-3.81
Divestitures	-	-	-	-	0.00	0.00	-4.44
Sale and/or Maturity of Investments	0.00	0.60	69	231	0.48	0.00	0.00
Net Cash From Financing Activities	120	246	459	154	140	304	522
Net Cash From Continuing Financing Activities	120	246	459	154	140	304	522
Repayment of Debt	-11	-0.08	-13	-0.09	-0.77	-4.44	-8.43
Issuance of Common Equity	0.07	0.68	471	154	141	309	533
Other Financing Activities, net	-	-	-	-	0.00	0.00	-3.00
Effect of Exchange Rate Changes	-	0.00	0.00	-0.31	0.19	-3.41	18

This table details how cash moves in and out of Recursion Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-20	4.22	-95	177	-47	167	-94	25	133	87	-89
Net Cash From Operating Activities	-73	-74	-102	-82	-59	-115	-132	-76	-117	-46	-81
Net Cash From Continuing Operating Activities	-73	-77	-102	-82	-59	-115	-132	-76	-117	-46	-81
Net Income / (Loss) Continuing Operations	-93	-93	-91	-98	-96	-179	-202	-172	-162	-108	-118
Consolidated Net Income / (Loss)	-93	-93	-91	-98	-96	-179	-202	-172	-162	-108	-118
Depreciation Expense	7.58	7.55	7.38	8.97	7.20	13	19	24	21	19	20
Non-Cash Adjustments To Reconcile Net Income	6.82	56	4.49	3.98	31	67	75	52	44	45	27
Changes in Operating Assets and Liabilities, net	5.70	-47	-23	2.37	-1.25	-16	-24	19	-20	-2.82	-10
Net Cash From Investing Activities	-0.35	-2.49	-6.65	-4.18	-4.56	275	-7.27	-5.81	-2.55	-1.24	-0.34
Net Cash From Continuing Investing Activities	-0.35	-2.49	-6.65	-4.18	-4.56	275	-7.27	-5.81	-2.55	-1.24	-0.34
Purchase of Property, Plant & Equipment	-0.75	-2.07	-6.65	-1.18	-4.56	-1.30	-1.83	-3.15	-0.24	-1.24	-0.26
Acquisitions	-0.08	-0.42	-	-3.00	-	277	0.00	-	-	-	-0.08
Purchase of Investments	-	-	0.00	-	-	-	-1.00	-0.50	-2.31	-	0.00
Divestitures	-	-	0.00	-	-	-	-4.44	-	-	-	0.00
Net Cash From Financing Activities	54	81	14	263	16	11	41	98	251	132	-3.47
Net Cash From Continuing Financing Activities	54	81	14	263	16	11	41	98	251	132	-3.47
Repayment of Debt	-0.02	-0.69	-0.03	-0.03	-2.29	-2.10	-2.05	-2.08	-2.13	-2.17	-2.21
Issuance of Common Equity	54	81	14	263	19	13	41	103	253	134	0.00
Other Financing Activities, net	-	-	-	-	-	-	1.55	-	-	-	-1.26
Effect of Exchange Rate Changes	-0.12	0.12	-0.22	-0.12	0.40	-3.47	4.83	9.26	1.87	2.09	-3.83

This table presents Recursion Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	299	610	701	654	1,449	1,474
Total Current Assets	266	535	570	438	714	813
Cash & Equivalents	262	285	550	392	594	743
Restricted Cash	2.00	1.55	1.28	3.23	3.05	4.59
Accounts Receivable	0.16	9.09	2.75	3.09	49	25
Prepaid Expenses	-	-	-	-	30	12
Other Current Assets	2.16	7.51	16	40	38	29
Plant, Property, & Equipment, net	26	65	88	87	141	104
Total Noncurrent Assets	6.18	11	43	129	593	557
Noncurrent Note & Lease Receivables	-	-	-	0.00	26	20
Goodwill	0.80	0.80	0.80	52	149	162
Intangible Assets	1.69	1.39	1.31	36	336	310
Noncurrent Deferred & Refundable Income Taxes	-	-	-	0.00	1.93	0.96
Other Noncurrent Operating Assets	3.69	8.72	41	41	80	64
Total Liabilities & Shareholders' Equity	299	610	701	654	1,449	1,474
Total Liabilities	57	67	215	190	414	343
Total Current Liabilities	23	47	100	93	187	148
Short-Term Debt	1.07	0.09	0.10	0.04	8.43	9.09
Accounts Payable	1.07	2.82	4.59	3.95	22	18
Accrued Expenses	10	32	33	47	82	70
Current Deferred Revenue	10	10	57	36	62	38
Other Current Liabilities	0.47	1.42	5.95	6.12	14	13
Total Noncurrent Liabilities	33	21	115	97	226	196
Long-Term Debt	11	0.63	0.54	1.10	19	9.56
Noncurrent Deferred Revenue	19	11	70	51	119	114
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	0.00	1.34	17	23
Other Noncurrent Operating Liabilities	-	0.00	44	43	72	49
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-206	543	486	463	1,035	1,131
Total Preferred & Common Equity	-206	543	486	463	1,035	1,131
Total Common Equity	-206	543	486	463	1,035	1,131
Common Stock	7.31	943	1,125	1,431	2,474	3,170
Retained Earnings	-214	-400	-640	-968	-1,431	-2,076
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.13	-	0.00	-7.64	37

This table presents Recursion Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	612	627	667	631	558	776	726	1,305	1,302	1,400	1,340
Total Current Assets	482	492	431	411	344	522	474	584	587	714	710
Cash & Equivalents	455	473	406	387	296	474	428	500	525	660	654
Restricted Cash	2.09	1.31	3.33	2.26	3.20	1.78	1.56	3.08	3.11	3.14	5.51
Accounts Receivable	12	2.06	3.05	3.16	2.60	2.53	2.26	46	22	22	14
Prepaid Expenses	-	-	-	-	-	-	-	2.47	0.00	0.00	12
Other Current Assets	13	16	19	18	41	44	43	32	37	29	24
Plant, Property, & Equipment, net	86	90	90	86	87	84	84	127	120	112	96
Total Noncurrent Assets	44	45	146	134	128	170	168	594	595	574	534
Noncurrent Note & Lease Receivables	-	-	-	-	-	29	27	25	23	22	19
Goodwill	0.80	0.80	61	53	52	52	52	158	164	162	160
Intangible Assets	1.46	1.32	43	39	33	38	34	336	341	322	294
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	2.00	0.96	0.96	0.96
Other Noncurrent Operating Assets	42	43	43	42	42	51	55	74	65	67	60
Total Liabilities & Shareholders' Equity	612	627	667	631	558	776	726	1,305	1,302	1,400	1,340
Total Liabilities	223	197	198	193	157	191	202	371	383	353	315
Total Current Liabilities	83	92	114	94	74	86	109	142	164	155	130
Short-Term Debt	0.10	0.66	0.68	0.70	0.06	8.11	8.22	8.59	8.75	8.92	9.27
Accounts Payable	3.89	4.25	2.09	4.27	5.12	3.76	2.26	25	19	14	20
Accrued Expenses	27	25	33	40	26	33	41	57	85	73	54
Current Deferred Revenue	47	58	73	44	37	32	50	40	40	47	33
Other Current Liabilities	5.54	4.44	5.22	5.36	6.06	8.61	8.23	12	12	12	13
Total Noncurrent Liabilities	140	105	84	99	83	105	93	229	219	197	185
Long-Term Debt	0.56	1.18	1.16	1.13	1.07	23	21	16	14	12	7.18
Noncurrent Deferred Revenue	94	57	32	51	37	29	16	130	126	111	115
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	4.34	1.93	0.53	0.00	0.17	22	24	23	18
Other Noncurrent Operating Liabilities	46	47	46	44	44	53	57	61	55	51	45
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	388	430	469	438	401	584	525	934	919	1,047	1,025
Total Preferred & Common Equity	388	430	469	438	401	584	525	934	919	1,047	1,025
Total Common Equity	388	430	469	438	401	584	525	934	919	1,047	1,025
Common Stock	970	1,135	1,251	1,313	1,460	1,741	1,777	2,553	2,681	2,981	3,192
Retained Earnings	-582	-705	-782	-875	-1,059	-1,157	-1,252	-1,634	-1,806	-1,968	-2,194
Accumulated Other Comprehensive Income / (Loss)	0.00	-	-	-	-	-	-	14	44	34	27

This table displays calculated financial ratios and metrics derived from Recursion Pharmaceuticals' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	70.85%	156.89%	291.46%	11.88%	32.00%	26.92%
EBITDA Growth	0.00%	-34.56%	-120.74%	-27.88%	-35.13%	-39.18%	-31.03%
EBIT Growth	0.00%	-35.51%	-120.39%	-28.42%	-38.69%	-39.94%	-38.75%
NOPAT Growth	0.00%	-35.51%	-116.01%	-34.44%	-42.46%	-36.83%	-35.31%
Net Income Growth	0.00%	-40.61%	-114.33%	-28.42%	-36.99%	-41.33%	-39.06%
EPS Growth	0.00%	-39.02%	62.66%	8.72%	-16.18%	-6.96%	14.79%
Operating Cash Flow Growth	0.00%	20.41%	-249.38%	47.34%	-244.55%	-24.81%	-3.52%
Free Cash Flow Firm Growth	0.00%	0.00%	-224.40%	57.36%	-424.50%	-92.41%	46.53%
Invested Capital Growth	0.00%	0.00%	605.01%	-285.61%	207.77%	566.12%	-13.60%
Revenue Q/Q Growth	0.00%	0.00%	-1.53%	38.83%	-5.88%	-9.73%	70.94%
EBITDA Q/Q Growth	0.00%	0.00%	-30.84%	4.69%	-5.37%	-21.73%	12.11%
EBIT Q/Q Growth	0.00%	0.00%	-30.04%	4.10%	-6.41%	-21.37%	9.89%
NOPAT Q/Q Growth	0.00%	0.00%	-27.46%	1.59%	-12.16%	-21.52%	10.43%
Net Income Q/Q Growth	0.00%	0.00%	-26.59%	3.01%	-12.14%	-22.74%	9.89%
EPS Q/Q Growth	0.00%	0.00%	46.40%	-44.68%	-8.97%	-8.33%	21.31%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-78.45%	16.42%	-11.35%	-13.01%	15.72%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	21.89%	-12.72%	-108.80%	50.40%
Invested Capital Q/Q Growth	0.00%	0.00%	147.54%	4.84%	38.98%	274.61%	-0.78%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	-21.16%	4.46%	23.12%	4.99%
EBITDA Margin	-2,585.25%	-2,036.14%	-1,749.60%	-571.54%	-690.36%	-727.91%	-751.45%
Operating Margin	-2,692.58%	-2,135.66%	-1,795.79%	-616.74%	-785.33%	-814.09%	-867.87%
EBIT Margin	-2,692.58%	-2,135.66%	-1,832.18%	-601.05%	-745.10%	-789.93%	-863.53%
Profit (Net Income) Margin	-2,668.35%	-2,196.01%	-1,832.18%	-601.05%	-735.99%	-788.02%	-863.35%
Tax Burden Percent	99.10%	102.83%	100.00%	100.00%	98.78%	99.76%	99.98%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	-914.59%	0.00%	-9,745.16%	-125.44%	-104.72%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-899.13%	0.00%	-9,727.57%	-98.80%	-75.31%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	867.08%	0.00%	9,676.04%	63.54%	45.18%
Return on Equity (ROE)	0.00%	-35.95%	-47.51%	-46.56%	-69.12%	-61.90%	-59.54%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-486.55%	0.00%	-543.95%	-273.23%	-90.13%
Operating Return on Assets (OROA)	0.00%	-28.34%	-41.03%	-36.52%	-49.02%	-44.22%	-44.13%
Return on Assets (ROA)	0.00%	-29.14%	-41.03%	-36.52%	-48.42%	-44.11%	-44.12%
Return on Common Equity (ROCE)	0.00%	30.64%	-20.38%	-46.56%	-69.12%	-61.90%	-59.54%
Return on Equity Simple (ROE_SIMPLE)	0.00%	42.18%	-34.35%	-49.29%	-70.79%	-44.81%	0.00%
Net Operating Profit after Tax (NOPAT)	-44	-59	-128	-172	-245	-335	-454
NOPAT Margin	-1,884.81%	-1,494.96%	-1,257.05%	-431.72%	-549.73%	-569.86%	-607.51%
Net Nonoperating Expense Percent (NNEP)	0.00%	-22.32%	-15.47%	-12.75%	-17.59%	-26.64%	-29.41%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-35.36%	-52.75%	-31.57%	-39.47%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	121.16%	95.54%	76.88%	95.01%
SG&A Expenses to Revenue	817.21%	637.51%	566.73%	204.80%	248.62%	302.83%	236.46%
R&D to Revenue	1,975.38%	1,598.16%	1,329.05%	390.77%	541.17%	534.38%	636.40%
Operating Expenses to Revenue	2,792.58%	2,235.66%	1,895.79%	595.58%	789.79%	837.21%	872.86%
Earnings before Interest and Taxes (EBIT)	-62	-85	-186	-239	-332	-465	-645
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-60	-81	-178	-228	-308	-428	-561
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	5.33	3.01	4.61	1.87	1.88
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.35	3.02	5.70	3.52	3.23
Price to Revenue (P/Rev)	188.17	110.14	284.42	36.68	47.92	32.93	28.51
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	68.42	0.00	24.97	2.94	3.49
Enterprise Value to Revenue (EV/Rev)	0.00	160.46	234.51	22.86	39.09	23.25	18.75
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.06	0.02	0.00	0.00	0.03	0.02
Long-Term Debt to Equity	0.00	0.06	0.02	0.00	0.00	0.02	0.01
Financial Leverage	0.00	-1.03	-0.96	-1.03	-0.99	-0.64	-0.60
Leverage Ratio	0.00	1.23	1.16	1.28	1.43	1.40	1.35
Compound Leverage Factor	0.00	1.23	1.16	1.28	1.43	1.40	1.35
Debt to Total Capital	0.00%	5.91%	1.82%	0.13%	0.25%	2.58%	1.62%
Short-Term Debt to Total Capital	0.00%	0.42%	0.02%	0.02%	0.01%	0.79%	0.79%
Long-Term Debt to Total Capital	0.00%	5.49%	1.80%	0.11%	0.24%	1.79%	0.83%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	174.29%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-80.20%	98.18%	99.87%	99.75%	97.42%	98.38%
Debt to EBITDA	0.00	-0.19	-0.06	0.00	0.00	-0.06	-0.03
Net Debt to EBITDA	0.00	3.09	2.85	2.42	1.28	1.33	1.30
Long-Term Debt to EBITDA	0.00	-0.18	-0.06	0.00	0.00	-0.04	-0.02
Debt to NOPAT	0.00	-0.26	-0.08	0.00	0.00	-0.08	-0.04
Net Debt to NOPAT	0.00	4.20	3.97	3.20	1.61	1.70	1.61
Long-Term Debt to NOPAT	0.00	-0.24	-0.08	0.00	0.00	-0.06	-0.02
Altman Z-Score	0.00	3.68	24.82	2.53	3.69	0.84	0.90
Noncontrolling Interest Sharing Ratio	0.00%	185.24%	57.11%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	11.53	11.46	5.68	4.70	3.81	5.50
Quick Ratio	0.00	11.35	11.27	5.51	4.24	3.43	5.20
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-52	-170	-72	-380	-730	-390
Operating Cash Flow to CapEx	-1,458.87%	-778.58%	-398.55%	-225.38%	-2,407.19%	-2,622.67%	-5,747.53%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.01	0.02	0.06	0.07	0.06	0.05
Accounts Receivable Turnover	0.00	25.40	2.20	6.73	15.25	2.25	2.02
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.15	0.22	0.52	0.51	0.52	0.61
Accounts Payable Turnover	0.00	0.00	0.00	13.04	9.97	3.54	3.57
Days Sales Outstanding (DSO)	0.00	14.37	165.79	54.25	23.94	162.09	180.38
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	27.99	36.59	103.14	102.19
Cash Conversion Cycle (CCC)	0.00	14.37	165.79	26.25	-12.65	58.96	78.19
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-6.91	35	-65	70	465	402
Invested Capital Turnover	0.00	-1.15	0.73	-2.67	17.73	0.22	0.17
Increase / (Decrease) in Invested Capital	0.00	-6.91	42	-100	135	395	-63
Enterprise Value (EV)	0.00	636	2,387	911	1,742	1,368	1,400
Market Capitalization	436	436	2,895	1,461	2,136	1,938	2,129
Book Value per Share	$0.00	($9.47)	$3.21	$2.56	$2.14	$3.61	$2.17
Tangible Book Value per Share	$0.00	($9.59)	$3.20	$2.55	$1.73	$1.92	$1.27
Total Capital	0.00	257	553	486	465	1,062	1,150
Total Debt	0.00	15	10	0.63	1.14	27	19
Total Long-Term Debt	0.00	14	9.97	0.54	1.10	19	9.56
Net Debt	0.00	-249	-508	-551	-394	-570	-729
Capital Expenditures (CapEx)	3.91	5.83	40	37	12	14	6.47
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-20	-30	-82	-50	-62	-74
Debt-free Net Working Capital (DFNWC)	0.00	244	488	470	345	535	674
Net Working Capital (NWC)	0.00	243	488	470	345	527	665
Net Nonoperating Expense (NNE)	18	28	59	67	83	128	191
Net Nonoperating Obligations (NNO)	0.00	-249	-508	-551	-394	-570	-729
Total Depreciation and Amortization (D&A)	2.49	3.94	8.41	12	24	36	84
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-497.60%	-294.40%	-204.67%	-111.70%	-105.67%	-98.63%
Debt-free Net Working Capital to Revenue	0.00%	6,168.88%	4,796.13%	1,178.74%	773.99%	909.64%	902.81%
Net Working Capital to Revenue	0.00%	6,141.80%	4,795.24%	1,178.50%	773.90%	895.32%	890.64%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($1.49)	($1.36)	($1.58)	($1.69)	($1.44)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	125.35M	175.54M	207.85M	274.21M	447.45M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($1.49)	($1.36)	($1.58)	($1.69)	($1.44)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	125.35M	175.54M	207.85M	274.21M	447.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	170.77M	191.23M	234.65M	401.99M	527.40M
Normalized Net Operating Profit after Tax (NOPAT)	-44	-59	-128	-172	-245	-335	-454
Normalized NOPAT Margin	-1,884.81%	-1,494.96%	-1,257.05%	-431.72%	-549.73%	-569.86%	-607.51%
Pre Tax Income Margin	-2,692.58%	-2,135.66%	-1,832.18%	-601.05%	-745.10%	-789.93%	-863.53%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Recursion Pharmaceuticals' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	527,397,997.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	527,397,997.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-19.96%	-20.36%	13.68%	30.86%	147.62%	-58.26%	6.89%	33.34%	-80.16%	681.74%	-56.11%
EBITDA Growth	-43.39%	-54.94%	-37.62%	-25.16%	-3.56%	-85.41%	-116.24%	-66.17%	-59.60%	46.59%	44.12%
EBIT Growth	-48.65%	-59.16%	-41.06%	-27.81%	-2.86%	-84.32%	-119.90%	-75.29%	-69.58%	39.57%	39.74%
NOPAT Growth	-59.09%	-62.23%	-37.89%	-23.04%	1.20%	-85.75%	-98.64%	-75.28%	-75.08%	41.05%	32.85%
Net Income Growth	-53.89%	-61.75%	-39.87%	-27.13%	-3.04%	-92.38%	-121.60%	-76.23%	-69.29%	39.56%	41.97%
EPS Growth	-22.86%	-43.33%	-14.71%	-5.26%	20.93%	-30.23%	-28.21%	-2.50%	-5.88%	69.64%	56.00%
Operating Cash Flow Growth	-33.70%	-65.54%	-39.53%	-21.87%	18.78%	-55.82%	-28.99%	7.06%	-98.16%	60.09%	38.54%
Free Cash Flow Firm Growth	-590.22%	-457.82%	-102.85%	25.14%	24.06%	-156.98%	-128.87%	-168.59%	-181.14%	97.59%	96.77%
Invested Capital Growth	173.79%	207.77%	342.11%	126.23%	147.13%	566.12%	343.24%	197.00%	226.22%	-13.60%	-16.30%
Revenue Q/Q Growth	-4.39%	3.40%	26.66%	4.52%	80.91%	-82.57%	224.35%	30.37%	-73.08%	586.72%	-81.79%
EBITDA Q/Q Growth	-20.03%	-4.76%	7.23%	-5.10%	0.69%	-87.56%	-10.47%	19.24%	4.62%	37.24%	-15.58%
EBIT Q/Q Growth	-21.23%	-4.34%	6.85%	-6.41%	2.44%	-86.99%	-13.27%	15.17%	5.61%	33.37%	-12.96%
NOPAT Q/Q Growth	-21.83%	0.62%	2.62%	-4.36%	2.18%	-86.84%	-4.14%	7.91%	2.28%	37.09%	-18.62%
Net Income Q/Q Growth	-21.23%	0.02%	1.75%	-6.75%	1.74%	-86.67%	-13.18%	15.11%	5.61%	33.36%	-8.68%
EPS Q/Q Growth	-13.16%	0.00%	9.30%	-2.56%	15.00%	-64.71%	10.71%	18.00%	12.20%	52.78%	-29.41%
Operating Cash Flow Q/Q Growth	-8.08%	-1.59%	-38.10%	19.63%	27.97%	-94.90%	-14.32%	42.09%	-53.58%	60.74%	-76.03%
Free Cash Flow Firm Q/Q Growth	5.02%	-8.43%	-4.34%	30.33%	3.65%	-266.92%	7.07%	18.24%	-0.85%	96.85%	-24.54%
Invested Capital Q/Q Growth	-18.49%	38.98%	47.25%	35.62%	-10.96%	274.61%	-2.02%	-9.13%	-2.19%	-0.78%	-5.08%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	-3.27%	9.28%	19.05%	36.19%	53.69%	-181.43%	-48.04%	-4.88%	-183.81%	59.83%	-92.99%
EBITDA Margin	-811.16%	-821.83%	-614.58%	-617.99%	-339.23%	-3,650.40%	-1,243.23%	-770.16%	-2,728.64%	-249.38%	-1,582.74%
Operating Margin	-945.12%	-908.36%	-698.42%	-697.39%	-377.10%	-4,042.39%	-1,297.85%	-916.75%	-3,327.57%	-304.84%	-1,985.55%
EBIT Margin	-883.10%	-891.18%	-668.06%	-680.19%	-366.82%	-3,935.28%	-1,374.33%	-894.23%	-3,135.27%	-304.19%	-1,886.71%
Profit (Net Income) Margin	-883.10%	-853.88%	-662.41%	-676.56%	-367.46%	-3,935.46%	-1,373.26%	-894.23%	-3,135.32%	-304.24%	-1,815.57%
Tax Burden Percent	100.00%	95.81%	99.15%	99.47%	100.17%	100.00%	99.92%	100.00%	100.00%	100.02%	96.23%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-11,271.92%	-749.53%	-241.16%	-197.44%	-622.86%	-194.62%	-149.86%	-384.83%	-36.78%	-220.63%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-11,266.89%	-743.32%	-234.78%	-190.59%	-612.43%	-176.98%	-139.64%	-376.83%	-31.81%	-215.72%
Return on Net Nonoperating Assets (RNNOA)	0.00%	11,207.20%	689.39%	189.99%	156.08%	393.89%	102.98%	88.26%	250.01%	19.09%	123.57%
Return on Equity (ROE)	-70.84%	-64.72%	-60.14%	-51.16%	-41.36%	-228.97%	-91.64%	-61.59%	-134.82%	-17.70%	-97.06%
Cash Return on Invested Capital (CROIC)	-670.65%	-543.95%	-397.81%	-352.83%	-401.38%	-273.23%	-270.34%	-263.66%	-297.69%	-90.13%	-80.19%
Operating Return on Assets (OROA)	-67.33%	-58.63%	-52.12%	-46.81%	-35.23%	-220.28%	-88.21%	-55.59%	-128.86%	-15.55%	-94.75%
Return on Assets (ROA)	-67.33%	-56.18%	-51.68%	-46.56%	-35.29%	-220.29%	-88.14%	-55.59%	-128.86%	-15.55%	-91.18%
Return on Common Equity (ROCE)	-70.84%	-64.72%	-60.14%	-51.16%	-41.36%	-228.97%	-91.64%	-61.59%	-134.82%	-17.70%	-97.06%
Return on Equity Simple (ROE_SIMPLE)	-66.80%	0.00%	-88.27%	-64.15%	-72.01%	0.00%	-61.54%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-70	-69	-67	-70	-69	-129	-134	-123	-121	-76	-90
NOPAT Margin	-661.59%	-635.86%	-488.89%	-488.17%	-263.97%	-2,829.67%	-908.50%	-641.73%	-2,329.30%	-213.39%	-1,389.89%
Net Nonoperating Expense Percent (NNEP)	-5.53%	-5.03%	-6.21%	-6.37%	-6.85%	-10.43%	-17.64%	-10.21%	-8.00%	-4.97%	-4.91%
Return On Investment Capital (ROIC_SIMPLE)	-	-14.91%	-	-	-	-12.11%	-13.97%	-13.09%	-11.29%	-6.60%	-8.64%
Cost of Revenue to Revenue	103.27%	90.72%	80.95%	63.81%	46.31%	281.43%	148.04%	104.88%	283.81%	40.17%	192.99%
SG&A Expenses to Revenue	277.21%	279.67%	227.69%	220.80%	144.76%	1,697.89%	370.63%	242.69%	804.41%	94.71%	534.47%
R&D to Revenue	664.64%	637.98%	489.78%	512.78%	286.02%	2,163.07%	879.17%	669.18%	2,339.36%	269.96%	1,358.10%
Operating Expenses to Revenue	941.86%	917.65%	717.47%	733.59%	430.78%	3,860.95%	1,249.81%	911.87%	3,143.77%	364.67%	1,892.57%
Earnings before Interest and Taxes (EBIT)	-93	-97	-92	-98	-96	-179	-203	-172	-162	-108	-122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-85	-90	-85	-89	-88	-166	-183	-148	-141	-89	-102
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.77	4.61	5.83	3.05	3.53	1.87	2.28	2.24	2.02	1.88	1.58
Price to Tangible Book Value (P/TBV)	4.77	5.70	7.40	3.61	4.23	3.52	4.83	4.97	3.77	3.23	2.84
Price to Revenue (P/Rev)	34.82	47.92	50.60	35.91	28.42	32.93	35.57	31.84	48.49	28.51	24.38
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	25.12	24.97	19.86	9.60	11.70	2.94	3.62	3.75	3.65	3.49	2.56
Enterprise Value to Revenue (EV/Rev)	26.64	39.09	44.15	26.94	22.28	23.25	27.56	24.02	33.80	18.75	14.69
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.05	0.05	0.03	0.03	0.03	0.02	0.02	0.02
Long-Term Debt to Equity	0.00	0.00	0.00	0.04	0.04	0.02	0.02	0.02	0.01	0.01	0.01
Financial Leverage	-1.02	-0.99	-0.93	-0.81	-0.82	-0.64	-0.58	-0.63	-0.66	-0.60	-0.57
Leverage Ratio	1.50	1.43	1.43	1.37	1.41	1.40	1.40	1.38	1.35	1.35	1.35
Compound Leverage Factor	1.50	1.43	1.43	1.37	1.41	1.40	1.40	1.38	1.35	1.35	1.35
Debt to Total Capital	0.41%	0.25%	0.28%	5.04%	5.19%	2.58%	2.61%	2.44%	1.95%	1.62%	1.58%
Short-Term Debt to Total Capital	0.16%	0.01%	0.01%	1.32%	1.49%	0.79%	0.90%	0.93%	0.84%	0.79%	0.89%
Long-Term Debt to Total Capital	0.26%	0.24%	0.27%	3.72%	3.71%	1.79%	1.71%	1.51%	1.11%	0.83%	0.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	99.59%	99.75%	99.72%	94.96%	94.81%	97.42%	97.39%	97.56%	98.05%	98.38%	98.42%
Debt to EBITDA	-0.01	0.00	0.00	-0.09	-0.08	-0.06	-0.05	-0.04	-0.03	-0.03	-0.03
Net Debt to EBITDA	1.33	1.28	0.90	1.28	1.14	1.33	0.91	0.86	1.01	1.30	1.34
Long-Term Debt to EBITDA	0.00	0.00	0.00	-0.07	-0.06	-0.04	-0.03	-0.02	-0.02	-0.02	-0.02
Debt to NOPAT	-0.01	0.00	0.00	-0.11	-0.10	-0.08	-0.06	-0.05	-0.04	-0.04	-0.04
Net Debt to NOPAT	1.77	1.61	1.13	1.61	1.45	1.70	1.19	1.11	1.27	1.61	1.57
Long-Term Debt to NOPAT	-0.01	0.00	0.00	-0.08	-0.07	-0.06	-0.04	-0.03	-0.02	-0.02	-0.02
Altman Z-Score	3.38	4.87	6.42	3.82	3.35	1.50	1.62	1.28	1.76	2.10	1.06
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.36	4.70	4.65	6.07	4.35	3.81	4.11	3.58	4.60	5.50	5.47
Quick Ratio	4.15	4.24	4.04	5.54	3.95	3.43	3.85	3.33	4.40	5.20	5.15
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-188	-204	-213	-148	-143	-524	-487	-398	-401	-13	-16
Operating Cash Flow to CapEx	-9,787.92%	-3,583.79%	-1,537.65%	-6,955.92%	-1,298.22%	-8,892.91%	-7,202.89%	-2,425.97%	-48,296.30%	-3,703.62%	-31,434.50%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.08	0.07	0.08	0.07	0.10	0.06	0.06	0.06	0.04	0.05	0.05
Accounts Receivable Turnover	6.40	15.25	19.86	17.80	24.06	2.25	2.45	5.35	3.62	2.02	2.22
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.55	0.51	0.52	0.57	0.76	0.52	0.56	0.63	0.45	0.61	0.60
Accounts Payable Turnover	10.68	9.97	8.82	14.06	12.97	3.54	3.70	5.80	8.58	3.57	2.71
Days Sales Outstanding (DSO)	57.03	23.94	18.38	20.51	15.17	162.09	148.72	68.18	100.94	180.38	164.09
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	34.18	36.59	41.36	25.95	28.14	103.14	98.60	62.99	42.54	102.19	134.58
Cash Conversion Cycle (CCC)	22.85	-12.65	-22.99	-5.45	-12.96	58.96	50.12	5.19	58.40	78.19	29.52
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	50	70	103	139	124	465	455	414	405	402	381
Invested Capital Turnover	-5.31	17.73	1.53	0.49	0.75	0.22	0.21	0.23	0.17	0.17	0.16
Increase / (Decrease) in Invested Capital	118	135	145	78	74	395	353	275	281	-63	-74
Enterprise Value (EV)	1,261	1,742	2,041	1,337	1,452	1,368	1,648	1,552	1,477	1,400	976
Market Capitalization	1,649	2,136	2,339	1,782	1,853	1,938	2,127	2,057	2,119	2,129	1,619
Book Value per Share	$2.03	$2.14	$1.71	$2.46	$1.87	$3.61	$2.32	$2.26	$2.41	$2.17	$1.94
Tangible Book Value per Share	$1.60	$1.73	$1.35	$2.08	$1.56	$1.92	$1.09	$1.02	$1.30	$1.27	$1.08
Total Capital	440	465	402	615	553	1,062	959	942	1,068	1,150	1,041
Total Debt	1.82	1.14	1.13	31	29	27	25	23	21	19	16
Total Long-Term Debt	1.13	1.10	1.07	23	21	19	16	14	12	9.56	7.18
Net Debt	-388	-394	-298	-445	-400	-570	-478	-505	-642	-729	-644
Capital Expenditures (CapEx)	0.75	2.07	6.65	1.18	4.56	1.30	1.83	3.15	0.24	1.24	0.26
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-72	-50	-30	-32	-56	-62	-53	-96	-95	-74	-71
Debt-free Net Working Capital (DFNWC)	317	345	270	444	374	535	451	432	568	674	589
Net Working Capital (NWC)	316	345	270	436	365	527	442	423	559	665	580
Net Nonoperating Expense (NNE)	23	24	24	27	27	50	69	49	42	32	28
Net Nonoperating Obligations (NNO)	-388	-394	-298	-445	-400	-570	-478	-505	-642	-729	-644
Total Depreciation and Amortization (D&A)	7.58	7.55	7.38	8.97	7.20	13	19	24	21	19	20
Debt-free, Cash-free Net Working Capital to Revenue	-153.04%	-111.70%	-64.39%	-63.91%	-85.45%	-105.67%	-88.27%	-149.13%	-217.56%	-98.63%	-106.71%
Debt-free Net Working Capital to Revenue	669.55%	773.99%	583.43%	895.34%	573.00%	909.64%	753.89%	668.60%	1,299.92%	902.81%	887.13%
Net Working Capital to Revenue	668.08%	773.90%	583.31%	879.00%	560.39%	895.32%	739.53%	655.05%	1,279.50%	890.64%	873.17%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.43)	($0.43)	($0.39)	($0.40)	($0.34)	($0.56)	($0.50)	($0.41)	($0.36)	($0.17)	($0.22)
Adjusted Weighted Average Basic Shares Outstanding	214.33M	207.85M	236.02M	242.20M	282.58M	274.21M	402.77M	417.36M	446.99M	447.45M	529.30M
Adjusted Diluted Earnings per Share	($0.43)	($0.43)	($0.39)	($0.40)	($0.34)	($0.56)	($0.50)	($0.41)	($0.36)	($0.17)	($0.22)
Adjusted Weighted Average Diluted Shares Outstanding	214.33M	207.85M	236.02M	242.20M	282.58M	274.21M	402.77M	417.36M	446.99M	447.45M	529.30M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	216.62M	234.65M	237.66M	281.11M	286.64M	401.99M	406.50M	434.15M	520.64M	527.40M	529.91M
Normalized Net Operating Profit after Tax (NOPAT)	-70	-69	-67	-70	-69	-129	-134	-123	-121	-76	-90
Normalized NOPAT Margin	-661.59%	-635.86%	-488.89%	-488.17%	-263.97%	-2,829.67%	-908.50%	-641.73%	-2,329.30%	-213.39%	-1,389.89%
Pre Tax Income Margin	-883.10%	-891.18%	-668.06%	-680.19%	-366.82%	-3,935.28%	-1,374.33%	-894.23%	-3,135.27%	-304.19%	-1,886.71%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here are concise takeaways from Recursion Pharmaceuticals (RXRX) across the last four years of quarterly statements, focused on potential implications for retail investors.

Significant equity financing boosted liquidity in 2025. In Q3 2025 and Q4 2025, the company drew roughly $383 million in net financing inflows via common equity issuances (about $253.5M in Q3 and $134.2M in Q4), helping fund ongoing operations and RD activities without relying on new debt.
Solid liquidity metrics remained in place in late-2025. Cash and equivalents were around $660 million as of Q3 2025, with total current assets about $714 million and total current liabilities near $155 million, yielding a very comfortable current ratio (~4.6x).
Q4 2025 gross margin improved meaningfully. Total Gross Profit was $21.26 million on Revenue of $35.54 million, delivering a gross margin of roughly 60%, a notable turn from weaker quarters earlier in 2025.
Q4 2025 revenue showed a strong sequential uptick. Revenue jumped to $35.54 million in Q4 2025 after softer quarters in prior periods, signaling potential near-term catalysts or revenue recognition factors.
Debt burden remained very modest. Long-Term Debt was about $11.9 million and Short-Term Debt around $8.9 million in the latest balance sheet, with Total Liabilities roughly $352.6 million versus Total Equity near $1.046 billion.
Robust equity base supports ongoing RD investment. Total Equity around $1.046 billion provides a sizable cushion to fund research and development initiatives while the company continues to pursue growth opportunities.
Financing activities supplied cash inflows in both Q3 and Q4 2025. Net cash from continuing financing activities was $251.3 million in Q3 and $132.0 million in Q4, reinforcing liquidity without increasing leverage.
Operating cash burn moderated in Q4 2025 versus Q3 2025. Net cash from continuing operating activities was -$46.1 million in Q4 2025, a material improvement from -$117.4 million in Q3 2025, suggesting a potential stabilization trend as the company phases RD activities and expenses.
Asset base and balance-sheet composition are sizable but mixed in profitability. Total assets were around $1.40 billion in the latest quarter, with a large asset base (including substantial intangibles and goodwill). While this supports financing flexibility, it does not guarantee near-term profitability given ongoing high operating expenses and RD spend.
Net losses persisted despite margin and liquidity improvements. Quarterly net income attributable to common shareholders remained negative in 2025 (e.g., -$108.1 million in Q4 2025; -$162.3 million in Q3 2025; -$171.9 million in Q2 2025; -$202.5 million in Q1 2025), reflecting continued heavy investment in RD andSG&A that outpaced revenue gains.

05/17/26 06:24 AM ETAI Generated. May Contain Errors.

Recursion Pharmaceuticals Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Recursion Pharmaceuticals' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Recursion Pharmaceuticals' net income appears to be on an upward trend, with a most recent value of -$644.76 million in 2025, rising from -$61.88 million in 2019. The previous period was -$463.66 million in 2024. See where experts think Recursion Pharmaceuticals is headed by visiting Recursion Pharmaceuticals' forecast page.

Recursion Pharmaceuticals' total operating income in 2025 was -$648.13 million, based on the following breakdown:

Total Gross Profit: $3.73 million
Total Operating Expenses: $651.86 million

Over the last 6 years, Recursion Pharmaceuticals' total revenue changed from $2.32 million in 2019 to $74.68 million in 2025, a change of 3,120.4%.

Recursion Pharmaceuticals' total liabilities were at $343.27 million at the end of 2025, a 17.0% decrease from 2024, and a 506.9% increase since 2020.

In the past 5 years, Recursion Pharmaceuticals' cash and equivalents has ranged from $262.13 million in 2020 to $743.29 million in 2025, and is currently $743.29 million as of their latest financial filing in 2025.

Over the last 6 years, Recursion Pharmaceuticals' book value per share changed from 0.00 in 2019 to 2.17 in 2025, a change of 217.2%.

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Financial statements for NASDAQ:RXRX last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Recursion Pharmaceuticals (RXRX) Financials

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Recursion Pharmaceuticals (RXRX) Financials

Annual Income Statements for Recursion Pharmaceuticals

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Quarterly Balance Sheets for Recursion Pharmaceuticals

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Quarterly Metrics And Ratios for Recursion Pharmaceuticals

Financials Breakdown Chart

Key Financial Trends

Recursion Pharmaceuticals Financials - Frequently Asked Questions

When does Recursion Pharmaceuticals' financial year end?

How has Recursion Pharmaceuticals' net income changed over the last 6 years?

What is Recursion Pharmaceuticals' operating income?

How has Recursion Pharmaceuticals' revenue changed over the last 6 years?

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How has Recursion Pharmaceuticals' book value per share changed over the last 6 years?

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