Recursion (NASDAQ:RXRX) reported fourth-quarter 2025 revenue of $35.5 million on Wednesday, significantly exceeding analyst estimates of $24.6 million.
The performance was driven by the timing of milestone payments from its high-profile collaborations with Sanofi and Roche.
While the company posted a full-year net loss of $644.8 million—reflecting heavy R&D investment and the integration of Exscientia—the fourth-quarter loss narrowed to $108.1 million compared to $178.9 million in the prior-year period.
The Salt Lake City-based company reached a major scientific milestone with its lead candidate, REC-4881.
In an ongoing Phase 2 trial for Familial Adenomatous Polyposis (FAP), the drug demonstrated a 43% median reduction in polyp burden after 12 weeks of treatment.
Notably, the effect was durable, with the median reduction deepening to 53% after 12 weeks off-therapy.
Management cited this as the first clinical proof of concept for the "Recursion OS," proving that its AI-native platform can successfully identify and translate biological insights into meaningful patient outcomes.
Financially, Recursion enters 2026 with a robust balance sheet, holding $753.9 million in cash and cash equivalents.