Earnings Releases·Nov 2, 2026, 4:32 PM ET

Recursion — Third Quarter 2026 Earnings Summary

Total revenue reached $18.6 million in Q3 2026, up from $5.2 million in the prior year period, driven by a $10.0 million milestone payment from Sanofi; net loss narrowed to $119.0 million from $162.3 million, while cash operating expenses for the nine months ended September 30, 2026, decreased to $271.5 million from $323.2 million.
The company reiterated 2026 cash operating expense guidance of less than $375 million and set 2027 guidance at less than $360 million, projecting a cash runway extending into 2029 with a pro forma cash position of approximately $748.7 million following a $187.2 million offering in October 2026.
Key clinical updates include Phase 2 TUPELO data for REC-4881 showing 87% of patients achieved polyp burden reduction, and Phase 1 DAHLIA data for REC-1245 reporting a 91.7% disease control rate; registrational trials for REC-4881 and dose expansion data for REC-1245 are anticipated in the second half of 2027.
Strategic partnerships advanced with Sanofi optioning an immunology candidate for a $10 million payment (totaling $144 million to date) and Genentech exercising a neuroscience option (totaling $216 million to date), while the company appointed Fred Hassan as Chair of the Board and plans to concentrate resources on five core programs.