RXRXRecursion Pharmaceuticals, Inc.
Is the business good?
More warning than reassurance: 3 of 9 health tests passed and margins compressing.
Weak, deteriorating fundamentals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is RXRX?
Recursion Pharmaceuticals, Inc. spent more than it took in: an operating loss of $544M on $55M of revenue, 12 months to Q2 2026.
Operating loss · on $55M of revenue · 12 months to Q2 2026
- Share count, year on year
- +28%
Share count, year on year · shareholders own a smaller slice than a year ago
- Gross margin
- 3.5%
Gross margin
| Year | Operating margin |
|---|---|
| FY2020 | −2136% |
| FY2021 | −1796% |
| FY2022 | −617% |
| FY2023 | −785% |
| FY2024 | −814% |
| FY2025 | −868% |
Details›
- Gross margin12 months to Q2 2026
- 3.5%
- Operating margin12 months to Q2 2026
- −992%
- Net margin12 months to Q2 2026
- −946%
- Free cash flow margin
- −642%
- R&D as % of revenue
- 719%
- Revenue, trailing twelve months
- $55M
- Free cash flow, trailing twelve months
- −$352M
- Net income, trailing twelve months
- −$519M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Customers and suppliers
Who buys from RXRX and who it buys from, as the companies report it.
- Two customers100%
Combined share of revenue · FY2025 10-K
None disclosed.
A company has to disclose every customer behind 10% or more of its revenue. Each share comes from the latest annual report of the company that states it and shows on both companies’ pages; RXRX’s own figures are from its FY2025 10-K. Smaller customers and suppliers go unreported.