Recursion Pharmaceuticals
Builds investigational medicines through automated biology, AI chemistry, and partner programs.
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Profile
Develops investigational medicines through Recursion OS, an AI-native system linking automated biology, chemistry design, and clinical-development data. Revenue comes from collaboration agreements and grants rather than approved drug sales, with the pipeline focused on oncology and rare disease.
Develops investigational medicines through Recursion OS, an AI-native system that links automated data generation, proprietary biological datasets, chemistry design, compute, and clinical-development intelligence. The portfolio spans wholly owned oncology and rare-disease programs plus partnered discovery programs.
Operations are anchored in Salt Lake City, with post-Exscientia capabilities adding precision chemistry design and automated synthesis. The company executes through scaled data generation and one consolidated operating segment rather than separate commercial product lines.
No approved medicines generate product revenue. Near-term revenue comes mainly from collaboration agreements, and the business depends on Recursion OS-enabled discovery, clinical validation, partner milestones, and regulatory progress across internal and partnered programs.
Company facts
Key statistics
Year to date −20.7% · Average volume (30d) 16.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Morgan Stanley | Target | $5.50 | $5.30 | ||
| May 14, 2026 | Morgan Stanley | Reiterate | Equal Weight | $11 | $5.50 | |
| Dec 17, 2025 | Morgan Stanley | Target | $11 | |||
| Dec 17, 2025 | UBS | Target | $11 | |||
| Dec 17, 2025 | JP Morgan | Upgrade | Neutral | Overweight |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | −$0.24 | −$0.25 | −4.2% | $11.0M | $7.3M | −33.4% | −4.23% |
| May 6, 2026Q1 FY26 | −$0.30 | −$0.22 | +26.7% | $15.8M | $6.3M | −60.1% | −4.66% |
| Feb 25, 2026Q4 FY25 | −$0.28 | −$0.21 | +25.0% | $24.5M | $35.4M | +44.0% | 0.00% |
| Nov 5, 2025Q3 FY25 | −$0.38 | −$0.36 | +5.3% | $24.6M | $5.2M | −78.9% | −6.85% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $14.7M | $19.1M | $5.2M | $35.5M | $6.5M | $7.7M | |
| Gross profit | −$7.1M | −$1.1M | −$24.4M | $8.7M | −$6.0M | −$3.8M | |
| Operating income | −$191.4M | −$176.2M | −$172.2M | −$108.3M | −$128.5M | −$135.0M | |
| Net income | −$202.5M | −$171.9M | −$162.3M | −$108.1M | −$117.5M | −$131.0M | |
| Diluted EPS | −$0.50 | −$0.41 | −$0.36 | −$0.21 | −$0.22 | −$0.25 | |
| Gross margin | -48.0% | -5.5% | -471.8% | 24.4% | -93.0% | -49.8% | |
| Operating margin | -1,297.9% | -922.5% | -3,327.6% | -304.8% | -1,985.6% | -1,759.7% |
Fiscal years (4-quarter sums)FY21 $10.0M · FY22 $39.7M · FY23 $43.9M · FY24 $58.5M · FY25 $74.6M
Revenue by product · Q2 FY26
Revenue by geography · Q4 FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $545.7M · Total debt $61.9M · Total assets $1.21B · Shareholders' equity $915.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 524.68M · Float 408.73M · 77.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 50.30M | 9.59% | 13F | Aug 7, 2026 |
| Ark Investment Management LLC | 41.34M | 7.88% | 13F | Aug 14, 2026 |
| State Street Corporation | 34.71M | 6.60% | 13G | Aug 7, 2026 |
| Vanguard Portfolio Management | 31.37M | 5.97% | 13G | Jul 31, 2026 |
| Vanguard Capital Management | 26.74M | 5.09% | 13G | Jul 31, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Blake Borgeson | director | −30,000 | $3.25 |
| Jul 7, 2026 | Blake Borgeson | director | −40,000 | $3.96 |
| Jun 18, 2026 | Namandje Bumpus | director | −3,963 | $3.18 |
| Jun 5, 2026 | Najat Khan | director, officer: CEO and President | −23,588 | $3.58 |
| Jun 5, 2026 | Christopher Gibson | director | −40,000 | $3.62 |
Peers
- Schrödinger
Computational platform and oncology-discovery peer
- Relay Therapeutics
Computational precision-medicine and oncology peer
- AbCellera Biologics
Antibody discovery platform and pipeline peer
- Roivant Sciences
Scalable biotech-platform and pipeline peer
- Moderna
mRNA platform peer across oncology and rare disease
- BioNTech (ADR)
Immunotherapy platform peer with late-stage oncology focus
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Recursion Pharmaceuticals | $3.35 | +0.60% | $1.75B | — | — | 31.9 | −61.8% |
| Schrödinger | $19.67 | −0.15% | $1.47B | — | — | 5.7 | +7.5% |
| Relay Therapeutics | $19.10 | +1.82% | $4.11B | — | — | 397.4 | −48.3% |
| AbCellera Biologics | $11.37 | +0.24% | $3.47B | — | — | 52.4 | −76.3% |
| Roivant Sciences | $34.44 | −0.72% | $25.07B | — | — | 3,329.1 | −33.6% |
| Moderna | $136.53 | −1.06% | $54.75B | — | — | 24.6 | +2.1% |
| BioNTech (ADR) | $102.50 | +0.40% | $25.64B | — | — | 8.4 | −60.7% |
| Median | — | — | 38.5 | −40.9% |