Recursion Pharmaceuticals (RXRX) financial statements
Recursion Pharmaceuticals reported revenue of $75M in fiscal 2025, up 78.4% a year over 6 years.
Net income was -$645M and the operating margin -867.9%, against -2692.6% in 2019.
Free cash flow was -$378M.
The diluted share count rose 1974% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Recursion Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $2M | $4M | $10M | $40M | $45M | $59M | $75M |
| Cost of revenue | — | $0 | $0 | $48M | $43M | $45M | $71M |
| Gross profit | — | $4M | $10M | -$8M | $2M | $14M | $4M |
| Research and development | $46M | $63M | $135M | $156M | $241M | $314M | $475M |
| Selling, general and admin | $19M | $25M | $58M | $82M | $111M | $178M | $177M |
| Operating income | -$62M | -$85M | -$183M | -$246M | -$350M | -$479M | -$648M |
| Interest expense | $635,000 | $1M | $3M | $55,000 | $97,000 | $2M | $2M |
| Pre-tax income | — | — | -$186M | -$239M | -$332M | -$465M | -$645M |
| Income tax | $0 | $0 | $0 | $0 | -$4M | -$1M | -$136,000 |
| Net income | -$62M | -$87M | -$186M | -$239M | -$328M | -$464M | -$645M |
| EPS (diluted) | -$2.87 | -$3.99 | -$1.49 | -$1.36 | -$1.58 | -$1.69 | -$1.44 |
| Diluted shares | 22M | 22M | 125M | 176M | 208M | 274M | 447M |
| Gross margin | — | 100.0% | 100.0% | -21.2% | 4.5% | 23.1% | 5.0% |
| Operating margin | -2692.6% | -2135.7% | -1795.8% | -616.7% | -785.3% | -814.1% | -867.9% |
| Net margin | -2668.3% | -2196.0% | -1832.2% | -601.0% | -736.0% | -788.0% | -863.4% |
Balance sheet
Fiscal years, from Recursion Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $75M | $262M | $517M | $550M | $392M | $594M | $743M |
| Receivables | — | $156,000 | $34,000 | $0 | — | — | — |
| Total current assets | — | $266M | $535M | $570M | $438M | $714M | $813M |
| Property, plant and equipment | — | $26M | $65M | $88M | $87M | $141M | $104M |
| Goodwill | — | $801,000 | $801,000 | $801,000 | $52M | $149M | $162M |
| Total assets | — | $299M | $610M | $701M | $654M | $1.4B | $1.5B |
| Total current liabilities | — | $23M | $47M | $100M | $93M | $187M | $148M |
| Long-term debt | — | — | — | — | $1M | $19M | $10M |
| Total liabilities | — | $57M | $67M | $215M | $190M | $414M | $343M |
| Shareholders' equity | -$124M | -$206M | $543M | $486M | $463M | $1.0B | $1.1B |
| Net debt | -$75M | -$262M | -$285M | -$550M | -$390M | -$575M | -$734M |
Cash flow
Fiscal years, from Recursion Pharmaceuticals's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$57M | -$45M | -$159M | -$84M | -$288M | -$359M | -$372M |
| Capital spending | $4M | $6M | $40M | $37M | $12M | $14M | $6M |
| Free cash flow | -$61M | -$51M | -$198M | -$121M | -$300M | -$373M | -$378M |
| Stock-based compensation | $1M | $4M | $15M | $28M | $54M | $82M | $111M |
| Net borrowing | -$11M | -$77,000 | -$13M | -$90,000 | -$766,000 | — | — |
| Free cash flow margin | -2628.4% | -1293.0% | -1949.4% | -302.6% | -672.4% | -633.7% | -506.5% |
Questions
What was Recursion Pharmaceuticals's revenue in 2025?
$75M in fiscal 2025, from its 10-K filing.
How much free cash flow does Recursion Pharmaceuticals generate?
-$378M in fiscal 2025 (operating cash flow minus capital spending).
From Recursion Pharmaceuticals's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.