RXRX at a glance
RECURSION PHARMACEUTICALS, INC. (RXRX, SEC CIK 1601830) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on September 21, 2026 and Form 4 insider filings as recently as October 2, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), RECURSION PHARMACEUTICALS, INC. (RXRX) reported revenue of $74.7 million (up 26.9% from FY2024) and a net loss of $644.8 million. Diluted EPS was -$1.44.
- As of June 30, 2026, 31 institutional investment managers tracked by SignalX reported holding RECURSION PHARMACEUTICALS, INC. (RXRX) shares worth $757.7 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Khan Najat on September 8, 2026 of 22,408 shares at $3.52 per share.
- In the last 90 days, RXRX insiders reported 0 open-market purchases ($0) and 3 open-market sales ($277K) on Form 4, a net sale of $277K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $74.7M
- +26.9% vs prior year
- Insiders · 90 days
- 0 buys · 3 sells
- Net −$277K
- 13F holders
- 31 funds
- $757.7M · −1 vs prior quarter
- Latest 8-K
- Sep 21, 2026
- Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: AI-native drug discovery platform integrating biology, chemistry, clinical development to accelerate novel medicine creation
- New emphasis: Clinical validation of Recursion OS in 2025 with positive Phase 1b/2 data for REC-4881 in familial adenomatous polyposis (FAP)
- Strategic shift: Pivot from traditional high-attrition “V-shaped” funnel to a ‘T-shaped’ model emphasizing early attrition and AI-driven success probability
- Quantitative highlight: Over $500M partner payments received; 90% fewer compounds synthesized vs industry average; clinical pipeline trimmed to 5 clinical programs in 2025
- Noteworthy fact: First whole-genome CRISPR knockout neuronal and microglial maps created with Roche/Genentech, resulting in $60M milestone payments in 2024-2025
Risk Factors
- FDA regulatory approval risk for all drug candidates currently in discovery or clinical stages, no products approved or commercial revenue as of 2026
- Geopolitical risk from potential U.S. and foreign regulatory reviews on foreign investments, possibly limiting strategic alliances with international partners
- Supply chain vulnerability linked to disruptions impacting clinical trial enrollment, manufacturing capacity, and timing of research activities
- Competitive risk from industry consolidation reducing potential collaborators and increasing competition in neuroscience and oncology drug discovery
- Financial risk of $2.1 billion accumulated deficit as of 12/31/2025 with ongoing need to raise capital through equity offerings, risking shareholder dilution
Management Discussion & Analysis
- Revenue $74.7M in 2025, up 27% YoY from $58.8M driven by Sanofi partnership; 2024 revenue rose 32% from $44.6M primarily from Roche partnership
- Operating margin negative 868% (loss $648.1M on revenue $74.7M) worsening from 815% in 2024 (loss $479.0M on $58.8M revenue)
- Best segment: Research & Development expenses $475.3M up 51.2% YoY, driven by platform costs, Tempus record purchases ($49.9M), and Exscientia acquisition ($102.4M)
- Worst segment: General & Administrative flat at $176.6M in 2025, down 0.9% YoY, but still a substantial cost burden
- Cash flow: Operating cash outflow $371.8M increased; Financing inflow $521.5M mainly from equity sales; Cash & equivalents $753.9M end 2025
- Capital allocation: Raised $957.1M net proceeds from stock since 2023; no product revenue yet; no buybacks or dividends reported
- Outlook: Management plans multiple clinical data readouts and FDA engagement in 2026; key risk includes need for future capital raises; full valuation allowance maintained on Canadian DTAs
AI summary of the RXRX 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Quarterly revenue $7.7M, down 60% YoY from $19.2M, primarily lower Roche revenue recognition
- Net loss $131.0M vs $171.9M YoY, with operating loss $135.0M vs $176.2M
- Platform R&D $42.1M, down 47% YoY; clinical R&D $23.7M, up 21%
- Cash, cash equivalents and restricted cash $556.8M vs $753.9M at December 31, 2025
- Operating cash used $187.0M vs $208.4M; no TD Cowen equity sales as of June 30, 2026
- Near-term milestones: REC-7735 Phase 1/2 initiation and FDA registrational-path update for REC-4881 expected in 2H26
Risk Factors
- No Risk Factors section provided; no new, changed, or carried-forward risks identifiable
- Lease extension through May 31, 2034, creating longer-term facility commitment
- Sublease of approximately 66,000 square feet scheduled through May 31, 2032
- Unregistered stock-option exercises: 4,800 Class A shares for approximately $2 thousand
AI summary of the RXRX 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 1.01: Entry into a Material Definitive Agreement
- Tempus agreement extended from five to six years, while Recursion loses its convenience-termination right
- Annual license fees reduced to $14M in years three, four, and five from prior amounts up to $42M
Item 2.02: Results of Operations and Financial Condition
- Forward-looking statement caution covering Tempus Agreement and Restated Agreement performance
- Actual outcomes may differ materially because of identified risks and uncertainties
Item 7.01: Regulation FD Disclosure
- Exhibit 99.3 contains presentation materials from Recursion’s August 5, 2026 earnings call
- Investor-relevant operating and financial details require review of the attached presentation
Item EX-99.1: Item EX-99.1
- Q2 revenue $7.7M, down from $19.2M; lower Roche/Genentech recognition reflects completed prior-period project phases
- Genentech exercised first neuroscience target option, validating Recursion’s platform and initiating a small-molecule discovery program
Item 5.07: Submission of Matters to a Vote of Security Holders
- Stockholders elected Najat Khan and Franziska Michor as Class II directors through the 2029 annual meeting
- Director votes included 126,675,762 broker non-votes, limiting participation in contested governance matters
AI summaries of RXRX 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for RXRX
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Li Dean Y | A | Oct 1, 2026 | 3,378 | - |
| Dar Zavain | A | Oct 1, 2026 | 4,607 | - |
| Taylor Ben R | F | Sep 15, 2026 | 5,396 | $3.41 |
| Khan Najat | Sell | Sep 8, 2026 | 22,408 | $3.52 |
| Borgeson Blake | Sell | Sep 1, 2026 | 30,000 | $3.34 |
| Khan Najat | F | Aug 17, 2026 | 80,498 | $3.16 |
| Hallett David | F | Aug 17, 2026 | 26,657 | $3.16 |
| Taylor Ben R | F | Aug 17, 2026 | 25,018 | $3.16 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $44.6M | $58.8M | $74.7M |
| Operating Income | - | -$479.0M | -$648.1M |
| Net Income | -$328.1M | -$463.7M | -$644.8M |
| Op. Margin | - | -814.1% | -867.9% |
| Net Margin | -736.0% | -788.0% | -863.4% |
| Balance Sheet | |||
| Total Assets | - | $1.4B | $1.5B |
| Equity | - | $1.0B | $1.1B |
| ROE | - | -44.8% | -57.0% |
| Per Share | |||
| EPS | $-1.58 | $-1.69 | $-1.44 |
| Cash Flow | |||
| Operating CF | - | -$359.2M | -$371.8M |
| CapEx | $12.0M | $13.7M | $6.5M |
Source: XBRL data in RECURSION PHARMACEUTICALS, INC. (RXRX)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate RXRX share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 31 | $757.7M |
| Q1 2026 | 32 | $574.3M |
| Q4 2025 | 26 | $749.3M |
| Q3 2025 | 26 | $776.7M |
| Q2 2025 | 30 | $727.7M |
| Q1 2025 | 27 | $614.1M |
| Q4 2024 | 20 | $715.6M |
| Q3 2024 | 17 | $402.8M |
- Vanguard Portfolio Management LLC+8.37M (+37%)
- BlackRock+7.11M (+16%)
- State Street Corp+6.22M (+22%)
- ARK Investment Management+1.12M (+3%)
- Northern Trust+789.8K (+20%)
- Goldman Sachs Group−2.15M (-35%)
- Millennium Management−777.5K (-30%)
- Two Sigma Investments−712.7K (-18%)
- FMR LLC (Fidelity)−690.3K (-94%)
- Citadel Advisors LLC−496.2K (-79%)
- Allstate+127.7K
- Bridgewater Associates LP+37.7K
- Renaissance Technologies LLC−2.40M
- Ameriprise Financial−37.1K
- Marex Group plc−32.8K
Source: 13F-HR filings on SEC EDGAR (aggregated from 209 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
RXRX filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Oct 2, 2026 | - | - | - |
| 4 | Oct 2, 2026 | - | - | - |
| 8-K | Sep 21, 2026 | - | Analysis | - |
| 4 | Sep 16, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| 4 | Aug 18, 2026 | - | - | - |
| SC 13G | Aug 7, 2026 | - | - | |
| 4 | Aug 6, 2026 | - | - | - |
| 8-K | Aug 5, 2026 | - | Analysis | - |
| 10-Q | Aug 5, 2026 | Jun 30, 2026 | Analysis | |
| SC 13G | Jul 31, 2026 | - | - | |
| SC 13G | Jul 31, 2026 | - | - | |
| 4 | Jul 9, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jul 2, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
| 4 | Jun 22, 2026 | - | - | - |
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RXRX SEC filings: frequently asked questions
Are RXRX insiders buying or selling?
In the last 90 days, RECURSION PHARMACEUTICALS, INC. (RXRX) officers, directors and 10% owners reported no open-market purchases and 3 open-market sales worth $276,522 by 2 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold RXRX stock?
As of June 30, 2026, the largest RECURSION PHARMACEUTICALS, INC. (RXRX) holders among the 13F filers tracked by SignalX were BlackRock ($184.6 million), ARK Investment Management ($151.7 million), State Street Corp ($127.4 million), Vanguard Portfolio Management LLC ($114.3 million), Vanguard Capital Management LLC ($83.6 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was RXRX's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), RECURSION PHARMACEUTICALS, INC. (RXRX) reported revenue of $74.7 million (up 26.9% from FY2024) and a net loss of $644.8 million. Diluted EPS was -$1.44. The figures come from the XBRL data in the 10-K.
What are the main risks in RXRX's latest 10-K?
In the 10-K filed February 25, 2026, RECURSION PHARMACEUTICALS, INC. (RXRX) flagged: FDA regulatory approval risk for all drug candidates currently in discovery or clinical stages, no products approved or commercial revenue as of 2026. Geopolitical risk from potential U.S. and foreign regulatory reviews on foreign investments, possibly limiting strategic alliances with international partners. (AI summary of the Risk Factors section.)
What did RXRX report in its latest 8-K?
RECURSION PHARMACEUTICALS, INC. (RXRX) filed an 8-K on September 21, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement). Tempus agreement extended from five to six years, while Recursion loses its convenience-termination right.
What are the latest RXRX SEC filings?
RECURSION PHARMACEUTICALS, INC. (RXRX) filed its latest 10-K annual report on February 25, 2026, a 10-Q quarterly report on August 5, 2026, an 8-K current report on September 21, 2026 and a Form 4 insider filing on October 2, 2026.
What is RXRX's SEC CIK number?
RECURSION PHARMACEUTICALS, INC. (RXRX)'s SEC Central Index Key (CIK) is 1601830. EDGAR lists every RXRX filing under that number.
Ask anything about RXRX
The research agent reads RXRX's filings, financials, insider trades and 13F holders, then answers with sources.