EarningsQ2 2026 Earnings Report
MX:RXRX Q2 2026 EPS Results
Actual EPS-$4.25
Consensus EPS-$4.08
Beat/MissMissed by -$0.17
One Year Ago EPS-$6.97
MX:RXRX Q2 2026 Revenue Results
Actual Revenue$130.45M
Expected Revenue$186.54M
Beat/MissMissed by -$56.09M
YoY Revenue Growth-60.10%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeBefore Open
Conference CallWednesday, August 5, 2026
MX:RXRX Upcoming Earnings
Recursion Pharmaceuticals's next earnings date is estimated for November 11, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RXRX Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a strong set of operational and technical highlights: multiple advancing clinical programs with compelling early efficacy (REC-4881), a cleared IND for a precision-selective oncology candidate (REC-7735), large proprietary data assets (>50 PB, massive cellular atlases), meaningful partnership cash inflows (> $500M realized, > $260M from Roche-Genentech) and demonstrated efficiency gains in design speed and operating costs (guidance lowered to $375M, ~40% reduction vs 2024 pro forma). Key risks and lowlights are typical for a clinical-stage biotech: regulatory and clinical uncertainty in rare disease and CNS programs, timing of pivotal data (some milestones extend beyond the current cash runway), competitive pressure as AI tools proliferate, and the early-stage nature of some proofs. Overall, positive operational momentum and external validation from partners outweigh the remaining clinical and market risks, but the company still faces execution and timing risks as programs advance.Company Guidance
Clinical Pipeline Progress — Five Clinical Stage Programs
Recursion now has 5 clinical-stage programs including REC-4881 (FAP), REC-1245 (RBM39 degrader), and REC-7735 (PI3K H1047R-selective). REC-7735 received IND clearance and is positioned to enter the clinic later this year.
REC-4881 Strong Phase II Data in FAP
REC-4881 (oral MEK1/2 inhibitor) showed a median polyp burden reduction of 43% after 3 months in the Phase II TUPELO study, with durability after 3 months off treatment and reductions in both upper and lower GI tract disease; safety profile described as manageable (predominantly mild-to-moderate AEs). Additional Phase II data will be presented at the CGA-IGC conference and an FDA update is expected later this year.
REC-7735 Precision Design and Selectivity
REC-7735 was precision-designed to be >100-fold selective for the PIK3CA H1047R mutation; development candidate delivered in ~10 months. The program used ~242 compounds (13 design cycles referenced) in a rapid design process and will start the Phase I ZINNIA trial later this year with first dose-escalation data expected in H1 2028.
Speed and Capital Efficiency vs. Industry Benchmarks
Recursion reports advancing candidates using ~330 compounds over ~1.5 years versus industry benchmarks of ~2,500 compounds over 4 years — implying roughly ~87% fewer compounds made and ~62.5% faster time-to-candidate compared with the cited industry benchmark.
Partnerships Driving Realized Cash Inflows
Partnerships with Sanofi and Roche-Genentech have generated over $500 million in realized inflows to date. Specifically, the Roche-Genentech collaboration has achieved >$260 million in upfront and milestone payments, and provides opportunities for >$300 million in additional milestones per future small molecule program.
Major Neuroscience Discovery with Roche-Genentech
Recursion's biology engine discovered a previously unexplored neuroscience target that advanced into a joint early discovery program with Genentech — representing an early proof point that their platform can uncover novel, biologically-validated targets in challenging CNS biology.
Large Proprietary Data Factory
Company has generated and aggregated >50 petabytes of multimodal biological data and produced disease-relevant cellular resources at scale (cited: >1 trillion iPSC-derived neurons and hundreds of billions of microglia), enabling foundation models to compare signatures across >17,000 genes and tens of millions of data points.
Agentic Workflows and Enrollment Improvements
Agentic/AI-driven workflows are reported to improve patient enrollment and trial matching by ~1.3x–1.6x versus historical benchmarks, contributing to faster and more efficient clinical studies.
Operating Expense Reduction and Cash Runway
2026 full-year cash operating expense guidance lowered to $375 million, described as a nearly 40% reduction from comparable 2024 pro forma expenses. Company ended the quarter with approximately $557 million in cash and equivalents, representing an operating runway through early 2028 per management.
MX:RXRX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed