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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $7.67M | $6.47M | $35.54M | $5.18M | $19.22M | $14.75M | $4.55M | $26.08M |
| Cost of revenue | $11.49M | $12.49M | $14.28M | $14.69M | $20.16M | $21.83M | $12.79M | $12.08M |
| Gross profit | −$3.82M | −$6.02M | $21.26M | −$9.51M | −$938.00K | −$7.08M | −$8.25M | $14.00M |
| Gross margin | -49.8% | -93.0% | 59.8% | -183.8% | -4.9% | -48.0% | -181.4% | 53.7% |
| Research and development | $89.61M | $87.90M | $95.94M | $121.06M | $128.64M | $129.63M | $98.33M | $74.60M |
| Selling, general and administrative | $41.53M | $34.59M | $33.66M | $41.63M | $46.65M | $54.65M | $77.19M | $37.76M |
| Operating expenses | $131.15M | $122.49M | $129.60M | $162.69M | $175.29M | $184.28M | $175.52M | $112.36M |
| Operating income | −$134.97M | −$128.51M | −$108.33M | −$172.20M | −$176.23M | −$191.37M | −$183.77M | −$98.35M |
| Operating margin | -1759.7% | -1985.6% | -304.8% | -3327.6% | -916.8% | -1297.9% | -4042.4% | -377.1% |
| EBITDA | −$116.80M | −$108.83M | −$88.86M | −$151.16M | −$152.38M | −$172.04M | −$170.82M | −$91.16M |
| Income before taxes | −$131.01M | −$122.11M | −$108.10M | −$162.25M | −$171.90M | −$202.65M | −$178.90M | −$95.68M |
| Income taxes | −$1.00K | −$4.60M | $20.00K | $3.00K | $0 | −$158.00K | $7.00K | $167.00K |
| Net income | −$131.01M | −$117.50M | −$108.12M | −$162.25M | −$171.90M | −$202.49M | −$178.91M | −$95.84M |
| Net margin | -1708.0% | -1815.6% | -304.2% | -3135.3% | -894.2% | -1373.3% | -3935.5% | -367.5% |
| EPS, basic | −$0.25 | −$0.22 | −$0.21 | −$0.36 | −$0.41 | −$0.50 | −$0.53 | −$0.34 |
| EPS, diluted | −$0.25 | −$0.22 | −$0.21 | −$0.36 | −$0.41 | −$0.50 | −$0.53 | −$0.34 |
| Diluted shares | 532.46M | 529.30M | 522.66M | 446.99M | 417.36M | 402.77M | 336.03M | 282.58M |
Figures describe Recursion Pharmaceuticals shares, not any token. As of Aug 5, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.