Recursion Pharmaceuticals, Inc.
recursion.comWhat Do They Do?
Develops investigational medicines for patients and uses its drug-discovery platform to identify targets and advance programs for pharmaceutical partners.
10-K for FY2025, filed Feb 25, 2026Recursion is a clinical-stage TechBio company with a mission to decode biology to radically improve lives. We have advanced a portfolio of…View ↗
Building a Pipeline – Wholly Owned and Partnered DiscoveryView ↗
Through our partnerships with leading pharmaceutical companies including Roche and Genentech, Sanofi, Bayer, and Merck KGaA (Darmstadt…View ↗
How Do They Make Money?
Pharmaceutical partners pay Recursion for research and development work, with payment earned as the work progresses over time.
10-K for FY2025, filed Feb 25, 2026Operating revenue has primarily been generated through research and development agreements (see Note 9, “Collaborative Development…View ↗
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10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by product or service ↗
$74.7M
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10-K for FY2025, filed Feb 25, 2026
$74.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Operating revenue
Recurring
10-K for FY2025, filed Feb 25, 2026 |
99%
FY2022: 100%
|
Operating revenue, FY2025
$74.3M Sources
|
Recurring |
|
Grant revenue
|
0.6%
FY2022: 0.4%
|
Grant revenue, FY2025
$425K Sources
|
Who Are Their Customers?
Pharmaceutical companies work directly with Recursion through collaborations to build biological maps, identify targets and discover or advance drug programs.
10-K for FY2025, filed Feb 25, 2026Through our partnerships with leading pharmaceutical companies including Roche and Genentech, Sanofi, Bayer, and Merck KGaA (Darmstadt…View ↗
Neuron Map: In partnership with Roche and Genentech, Recursion built the first whole-genome CRISPR knockout map generated from a subset of…View ↗
Small Molecule Joint Portfolio: Recursion is using its platform to discover and advance a joint portfolio of 5+ AI-driven and…View ↗
Oncology: With our partners at Bayer, we are advancing multiple programs towards lead series milestones in precision oncology.View ↗
Oncology and immunology: With our partners at Merck KGaA, we are focused on identifying differentiated targets across oncology and…View ↗
Do Revenues Turn Into Profits?
No. It lost $644.8M in FY2025.
10-K for FY2025, filed Feb 25, 2026
−$648.1MView ↗
10-K for FY2025, filed Feb 25, 2026
−$644.8MView ↗
10-K for FY2025, filed Feb 25, 2026
−$378.3MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$131MView ↗
- ▼ −24% (Loss)
- vs −$171.9M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Apr 30, 2026
Board chair Christopher Gibson will not seek board re-election
He will remain chair and on board committees until his current term expires.
Sources
8-K, filed Apr 30, 2026
On April 28, 2026, Christopher Gibson, Ph.D., Chair of the Board of Directors (the “Board”) of Recursion Pharmaceuticals, Inc. (the…View ↗
Growing. Revenue grew 7.3x in 4 years, from $10.2M in FY2021 to $74.7M in FY2025, about 65% a year.
Into clinical development
The latest report describes the Recursion OS as covering clinical development as well as biology and chemistry; the earlier overview centers the platform on mapping biology and chemistry with wet-lab data and computational tools.
10-K for FY2022, filed Feb 27, 2023 10-K for FY2025, filed Feb 25, 2026
Who Do They Compete With?
Competes with Relay Therapeutics, Isomorphic Labs, Schrodinger, AbCellera, Moderna, BioNTech, Roivant Sciences, Janssen, Merck, Pfizer, Alphabet, Microsoft, and Amazon
10-K for FY2025, filed Feb 25, 2026TechBio Companies. Such companies apply computational tools to unlock novel insights or accelerate drug discovery and development across…View ↗
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