| Schedule of Segment Net Loss and Reconciliations of Segment Operating Loss to Loss Before Income Tax Benefit |
The following table presents Recursion’s segment revenue, significant segment expenses and segment net loss:
| | | | | | | | | | | | | | | | | | | Three months ended September 30, | | Nine months ended September 30, | | (In thousands) | 2026 | 2025 | | 2026 | 2025 | | Revenue | $ | 18,552 | | $ | 5,175 | | | $ | 32,694 | | $ | 39,143 | | | | | | | | | Significant segment expenses | | | | | | | Clinical programs | 23,939 | | 20,212 | | | 61,135 | | 56,798 | | | Internal & partnered discovery | 32,947 | | 50,351 | | | 98,834 | | 122,006 | | | Platform technology & infrastructure | 20,517 | | 24,285 | | | 60,060 | | 86,277 | | | General & administrative | 20,783 | | 37,107 | | | 75,450 | | 116,135 | | | Depreciation & amortization | 16,535 | | 21,043 | | | 54,375 | | 64,223 | | | Stock based compensation | 23,028 | | 25,244 | | | 64,741 | | 87,460 | | | Data records | 5,798 | | — | | | 8,860 | | 49,859 | | | UK R&D tax credit & other | (1,819) | | (865) | | | (4,113) | | (3,817) | | | Loss from operations | (123,176) | | (172,202) | | | (386,648) | | (539,798) | | | Other non-operating income, net | 4,165 | | 9,952 | | | 14,524 | | 3,005 | | | Income tax benefit (expense) | (25) | | (3) | | | 4,579 | | 156 | | | Total segment loss | $ | (119,036) | | $ | (162,253) | | | $ | (367,545) | | $ | (536,637) | | | | | | | | | Supplemental asset information | | | | | | | Total expenditures for additions to long-lived assets | $ | 1,076 | | $ | 39 | | | $ | 1,378 | | $ | 5,283 | |
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