Recursion Pharmaceuticals Inc-A 2026年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March31, 2026or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period from to Commission File Number: 001-40323 Delaware 46-4099738(State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 41 S Rio Grande StreetSalt Lake City, UT 84101(Address of principal executive offices) (Zip code)(385) 269 - 0203(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days.YesNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuantto Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrantwas required to submit such files).YesNo☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. Large accelerated filerAccelerated filer☐ Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May1, 2026, there were 524,677,865 and 5,227,334 of the registrant’s Class A and B common stock outstanding, respectively. TABLE OF CONTENTS Part IFinancial Information1Item 1.Financial Statements (unaudited)1Item 2.Management's Discussion and Analysis of Financial Condition and Results of Operations19Item 3.Quantitative and Qualitative Disclosures About Market Risk27Item 4.Controls and Procedures27Part IIOther Information29Item 1.Legal Proceedings29Item 1A.Risk Factors29Item 2.Unregistered Sales of Equity Securities and Use of Proceeds29Item 6.Exhibits29Signatures31 Cautionary Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains “forward-looking statements” about us and our industry within the meaning ofSection 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “would,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,”“project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other similarexpressions. Forward-looking statements contained in this report may include without limitation those regarding:•our research and development programs; •the initiation, timing, progress, results, and cost of our current and future preclinical and clinical studies, including statementsregarding the design of, and the timing of initiation and completion of, studies and related preparatory work, as well as theperiod during which the results of the studies will become available and key milestones will be met;•our continued ability to achieve milestones and receive associated milestone payments and royalties from current and futurecollaborations;•our ability to use our combined assets from our business combination to create a fully integrated, technology-first drugdiscovery platform;•our ability to reduce our cash burn;•the timing and likelihood of our ability to shift our wet-lab from a source of data generation to a model for validating data fromAI-generated results and the projected impact of our ClinTech platform on our business;•the ability and willingness of our collaborators to continue research and development activities relating to our developmentcandidates and investigational medicines;•future agreements with third parties in connection with the commercialization of our investigational medicines and any otherapproved product;•the timing, scope, and likelihood of regulatory filings and approvals, including the timing of Investigational New Drugapplications and final a