Recursion Pharmaceuticals Inc
RXRXHealthcare|Biotechnology|USA
$3.56
-0.21 (-5.57%)
Tangible Book
$1.08
Financials
Financial Snapshot
Market Cap
$1.89B
Enterprise Value
$582.1M
Revenue (TTM)
$65.7M
Net Income (TTM)
$-559.8M
Cash & Equivalents
—
Net Cash/Share
$0.64
Free Cash Flow (TTM)
$-328.1M
Operating CF (TTM)
$-321.0M
Debt/Equity
0.07
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$80.2M
Monthly Burn
$26.7M
Est. Runway
—
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $69.9M | $262.1M | $516.6M | $549.9M | $391.6M | $594.4M | $743.3M | $654.5M | |
| Operating Cash Flow | $-57.0M | $-45.4M | $-158.6M | $-83.5M | $-287.8M | $-359.2M | $-371.8M | $-321.0M | |
| Free Cash Flow | $-61.0M | $-52.1M | $-198.4M | $-120.9M | $-300.3M | $-376.2M | $-380.4M | $-328.1M | |
| Capital Expenditure | $-3.9M | $-6.7M | $-39.8M | $-37.4M | $-12.6M | $-17.0M | $-8.6M | $-7.1M | |
| Financing Cash Flow | $120.4M | $246.1M | $458.5M | $154.3M | $140.1M | $304.1M | $521.5M | $477.5M |
R&D Spending
R&D (TTM)
$433.5M
R&D Intensity
659.5%
R&D Growth YoY
-8.8%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $3.4M | $10.0M | $39.7M | $43.9M | $58.5M | $74.3M | $65.7M | |
| R&D Expense | $45.8M | $63.3M | $135.3M | $155.7M | $241.2M | $314.4M | $475.3M | $433.5M | |
| R&D % of Revenue | 2677.3% | 1855.2% | 1352.7% | 392.4% | 549.8% | 537.6% | 640.0% | 659.5% | |
| SG&A | $19.0M | $25.3M | $57.7M | $81.6M | $110.8M | $178.2M | $176.6M | $156.5M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $3.4M | $10.0M | $39.7M | $43.9M | $58.5M | $74.3M | $65.7M | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $48.3M | $42.6M | $45.2M | $71.0M | $61.6M | |
| Gross Profit | $1.7M | $3.4M | $10.0M | $-8.6M | $1.3M | $13.3M | $3.3M | $4.1M | |
| R&D | $45.8M | $63.3M | $135.3M | $155.7M | $241.2M | $314.4M | $475.3M | $433.5M | |
| SG&A | $19.0M | $25.3M | $57.7M | $81.6M | $110.8M | $178.2M | $176.6M | $156.5M | |
| Operating Income | $-62.4M | $-84.6M | $-182.8M | $-245.7M | $-350.1M | $-479.0M | $-648.1M | $-585.3M | |
| Interest Expense | $-635.0K | $-1.4M | $-3.0M | $-55.0K | $-97.0K | $-1.6M | $-1.8M | $-1.7M | |
| Pretax Income | $-61.9M | $-87.0M | $-186.5M | $-239.5M | $-332.1M | $-464.8M | $-644.9M | $-564.4M | |
| Net Income | $-61.9M | $-87.0M | $-186.5M | $-239.5M | $-328.1M | $-463.7M | $-644.8M | $-559.8M | |
| EPS (Diluted) | -0.55 | -0.77 | -1.49 | -1.36 | -1.58 | -1.69 | -1.44 | -1.20 | |
| EBITDA | $-58.8M | $-81.7M | $-175.1M | $-227.7M | $-307.6M | $-426.7M | $-559.4M | $-478.7M | |
| Shares Out. (M) | 112.47 | 112.47 | 125.35 | 175.54 | 207.85 | 274.21 | 447.45 | 529.30 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $69.9M | $262.1M | $285.1M | $549.9M | $391.6M | $594.4M | $743.3M | $654.5M | |
| Marketable Securities | $0.00 | $0.00 | $231.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $76.4M | $266.4M | $534.7M | $569.8M | $438.1M | $714.3M | $812.8M | $709.6M | |
| Total Assets | $101.4M | $298.6M | $610.3M | $701.3M | $653.7M | $1.45B | $1.47B | $1.34B | |
| Total Current Liabilities | $6.7M | $23.1M | $46.7M | $100.3M | $93.2M | $187.5M | $147.7M | $129.7M | |
| Long-Term Debt | $12.4M | $11.4M | $633.0K | $536.0K | $1.1M | $19.0M | $9.6M | $7.2M | |
| Total Liabilities | $225.7M | $504.9M | $67.4M | $215.5M | $190.3M | $413.8M | $343.3M | $314.8M | |
| Stockholders' Equity | $-124.3M | $-206.3M | $542.9M | $485.8M | $463.4M | $1.03B | $1.13B | $1.02B | |
| Retained Earnings | $-126.6M | $-213.6M | $-400.1M | $-639.6M | $-967.6M | $-1.43B | $-2.08B | $-2.19B |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-57.0M | $-45.4M | $-158.6M | $-83.5M | $-287.8M | $-359.2M | $-371.8M | $-321.0M | |
| Capital Expenditure | $-3.9M | $-6.7M | $-39.8M | $-37.4M | $-12.6M | $-17.0M | $-8.6M | $-7.1M | |
| Free Cash Flow | $-61.0M | $-52.1M | $-198.4M | $-120.9M | $-300.3M | $-376.2M | $-380.4M | $-328.1M | |
| Investing Cash Flow | $-3.9M | $-8.7M | $-271.7M | $193.2M | $-10.2M | $260.1M | $-16.9M | $-9.9M | |
| Financing Cash Flow | $120.4M | $246.1M | $458.5M | $154.3M | $140.1M | $304.1M | $521.5M | $477.5M | |
| Issuance of Stock | $0.00 | $0.00 | $462.9M | $143.7M | $128.1M | $300.4M | $528.9M | $487.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $11.9M | $6.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-11.2M | $-77.0K | $-12.8M | $-90.0K | $-766.0K | $-4.4M | $-8.4M | $-8.6M | |
| Stock Based Comp. | $1.4M | $4.3M | $14.8M | $27.9M | $53.5M | $81.7M | $111.2M | $97.4M | |
| Net Change in Cash | $59.5M | $192.0M | $28.2M | $263.8M | $-157.7M | $201.6M | $150.9M | $156.0M |
Dilution Tracker
Shares outstanding grew 322.3% over 5 years — significant dilution
Shares Outstanding
529M
5-Year Share Growth
+322.3%
Stock Issuance (TTM)
$487.8M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 112.47 | 112.47 | 125.35 | 175.54 | 207.85 | 274.21 | 447.45 | 529.30 | |
| YoY Change % | — | 0.0% | 11.5% | 40.0% | 18.4% | 31.9% | 63.2% | 18.3% | |
| Stock Issuance | $0.00 | $0.00 | $462.9M | $143.7M | $128.1M | $300.4M | $528.9M | $487.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.4M | $4.3M | $14.8M | $27.9M | $53.5M | $81.7M | $111.2M | $97.4M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | -21.7% | 2.9% | 22.7% | 4.4% | 6.3% | |
| Operating Margin % | -3649.4% | -2479.2% | -1827.8% | -619.3% | -797.8% | -819.0% | -872.8% | -890.3% | |
| Net Margin % | -3616.5% | -2549.3% | -1864.8% | -603.5% | -747.7% | -792.7% | -868.3% | -851.5% | |
| EBITDA Margin % | -3434.0% | -2393.9% | -1751.2% | -573.7% | -701.1% | -729.6% | -753.3% | -728.1% | |
| FCF Margin % | -3562.4% | -1527.5% | -1984.1% | -304.6% | -684.5% | -643.2% | -512.3% | -499.1% | |
| ROE % | 0.0% | 0.0% | -110.8% | -46.6% | -69.1% | -61.9% | -59.5% | -55.4% | |
| ROA % | -61.0% | -43.5% | -41.0% | -36.5% | -48.4% | -44.1% | -44.1% | -41.0% | |
| R&D / Revenue | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S26.02
Historical18.15 / 39.10 / 775.11
Industry Med.9.49
P/B1.85
Historical1.37 / 3.36 / 10.52
Industry Med.2.93
EV/EBITDA-2.74
Historical-58.57 / -4.49 / -1.55
Industry Med.13.02
EV/Revenue19.93
Historical10.62 / 33.02 / 927.00
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$1.08
Net Current Assets
$0.740
Net-Net Working Capital
$0.64
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | 0.00 | 0.00 | 214.13 | 34.12 | 46.73 | 31.74 | 24.64 | 26.02 | |
| PB Ratio | 0.00 | 0.00 | 5.37 | 3.03 | 4.98 | 2.59 | 1.91 | 1.85 | |
| EV/EBITDA | 0.00 | 0.00 | -13.77 | -4.28 | -6.40 | -5.15 | -2.67 | -2.74 | |
| EV/Revenue | 0.00 | 0.00 | 241.17 | 24.54 | 44.88 | 37.56 | 20.13 | 19.93 |
Analyst Estimates & Quality
Altman Z-Score
0.50
Distress
Piotroski F-Score
4
Moderate
Beneish M-Score
-3.86
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $65.27M | $85.33M | $153.71M |
| Net Income | $-487.89M | $-484.90M | $-403.18M |
| EPS | -0.93 | -0.91 | -1.08 |
| Book Value per Share | 1.34 | 0.69 | 0.83 |
| Operating Cash Flow per Share | -0.39 | -0.56 | 0.00 |
| Operating CF | $-203.78M | $-293.76M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Single segment | $74.7M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $39.3M |
| United Kingdom | $35.3M |