RECURSION PHARMACEUTICALS, INC. (RXRX) FY2025 10-K Annual Report

Filed: Feb 25, 2026
Health Care
Biological Products, (No Diagnostic Substances)SEC EDGAR

RECURSION PHARMACEUTICALS, INC. (RXRX) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 25, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.

RECURSION PHARMACEUTICALS, INC. FY2025 10-K Analysis

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)
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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)
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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
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RECURSION PHARMACEUTICALS, INC. FY2025 Key Financial Metrics
XBRL

Revenue

$75M

+26.9% YoY

Net Income

-$645M

-39.1% YoY

Operating Margin

-867.9%

-5377bp YoY

Net Margin

-863.4%

-7533bp YoY

ROE

-57.0%

-1221bp YoY

Total Assets

$1.5B

+1.8% YoY

EPS (Diluted)

$-1.44

+14.8% YoY

Operating Cash Flow

-$372M

-3.5% YoY

Source: XBRL data from RECURSION PHARMACEUTICALS, INC. FY2025 10-K filing on SEC EDGAR. All figures in USD.

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