---
schema_version: "secwatch.filing_event.v1"
accession: "0001601830-24-000051"
form_type: "8-K"
ticker: "RXRX"
cik: "0001601830"
company_name: "RECURSION PHARMACEUTICALS, INC."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:03:50.172159+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Recursion posts Q1 net loss $91.4M; replaces EY with PwC after material weakness

## Summary
- Net loss of $91.4M, up from $65.3M YoY; revenue $13.8M, up from $12.1M.
- Cash $296.3M; operating cash burn $102.3M; annual bonuses and accrual payments drove increase.
- Auditor change: EY dismissed, PwC appointed; material weakness in revenue estimation control identified for FY2023.
- Phase 2 readouts expected: CCM (REC-994) Q3 2024, NF2 (REC-2282) Q4 2024, FAP (REC-4881) H1 2025.
- Multi-year Helix agreement to access de-identified genomic and health records for AI model training.

## SEC filing metadata
- accession: 0001601830-24-000051
- form_type: 8-K
- ticker: RXRX
- cik: 0001601830
- company_name: RECURSION PHARMACEUTICALS, INC.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 4.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/0001601830-24-000051-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/rxrx-20240507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001601830-24-000051
- JSON: https://secwatch.observer/filing/0001601830-24-000051.json
- Plain text: https://secwatch.observer/filing/0001601830-24-000051.txt

## Key facts
- Auditor Changes
  RECURSION PHARMACEUTICALS, INC. dismissed Ernst & Young LLP as its auditor.
  - Action: dismissal
  - Auditor: Ernst & Young LLP
  - Successor: PricewaterhouseCoopers LLP
  source text: On May 7, 2024, the Audit Committee also dismissed Ernst & Young LLP ("EY") as our independent registered public accounting firm, beginning in the second fiscal quarter.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/0001601830-24-000051-index.htm
- Auditor Changes
  RECURSION PHARMACEUTICALS, INC. engaged PricewaterhouseCoopers LLP as its auditor.
  - Action: engagement
  - Auditor: PricewaterhouseCoopers LLP
  source text: on May 7, 2024, the Audit Committee approved the appointment of PricewaterhouseCoopers LLP ("PwC") as our independent registered public accounting firm, effective upon completion of PwC’s standard client acceptance process.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/0001601830-24-000051-index.htm
- Earnings Releases
  RECURSION PHARMACEUTICALS, INC. reported financial results for first quarter ending March 31, 2024.
  - Period: first quarter ending March 31, 2024
  - Result: reported results
  source text: On May 9, 2024, the Company issued a press release announcing its results of operations and financial condition for the first quarter March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1601830/000160183024000051/0001601830-24-000051-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.