Recursion Pharmaceuticals reports Q4 EPS (42c), consensus (45c)

Reports Q4 revenue $10.89M, consensus $20.35M. For the fourth quarter of 2023, the revenue decrease compared to the prior period was due to the timing of workflows from the company’s strategic partnership with Roche-Genentech. “2023 was a year of remarkable progress for Recursion as we continued to demonstrate how combining technology, biology, chemistry, and patient data can industrialize drug discovery, and we look forward to the milestones ahead of us in 2024,” said Chris Gibson, co-founder and CEO of Recursion. “As we have watched the dynamics of our landscape, it appears that BioTech is increasingly evolving into TechBio, where it is imperative for life science companies to embrace digital nativity similar to how SaaS companies 10+ years ago evolved to being cloud-native in order to thrive. In this data-driven age, we believe the most important differentiator will be connected data in order to increasingly understand and treat the complexities of human disease. Recursion plans to continue leading the field in terms of data generation and aggregation.”