Key Highlights

  • Recursion Pharmaceuticals posted Revenue of $18.6 million, about 3.6 times the prior-year level (calculated), on a $10.0 million milestone.
  • Syndax Pharmaceuticals reported revenue of $83.3 million, up 82%, led by $60.7 million of Revuforj sales.
  • Hinge Health reported revenue of $235.0 million, up 52%, and raised its 2026 revenue outlook to $879 million to $881 million.
  • Axsome Therapeutics posted revenue of $259.7 million, up 51.9% (calculated), and narrowed its net loss to $12.9 million.
  • Neurocrine Biosciences reported revenue of $1,122.7 million, up 41.2%, and lifted its 2026 INGREZZA outlook to $2.9 billion to $2.925 billion.

Which Healthcare and Biotech Companies Posted the Fastest Revenue Growth in Q3 2026 Earnings Season?

Five healthcare and biotech companies are ranked here by year-over-year revenue growth for the third quarter of 2026, with results released on Nov 2, 2026. Recursion Pharmaceuticals (NASDAQ:RXRX) ranks first at 258.5% (calculated), on revenue of $18.6 million against $5.2 million a year earlier. Syndax Pharmaceuticals (NASDAQ:SNDX) is second at $83.3 million, up 82%, and Hinge Health (NYSE:HNGE) is third at $235.0 million, up 52%.

Axsome Therapeutics (NASDAQ:AXSM) ranks fourth with revenue of $259.7 million, up 51.9% (calculated), and Neurocrine Biosciences (NASDAQ:NBIX) is fifth at $1,122.7 million, up 41.2%. Hinge Health's rounded 52% and Axsome's 51.9% are very close, so the third and fourth places are separated by a narrow margin.

The revenue bases differ by a wide margin. Recursion's quarterly revenue is the smallest in the group and Neurocrine's the largest, so the top growth rate reflects a small starting point. Only two of the five, Hinge Health and Neurocrine, reported positive net income; the other three reported net losses.

1. Recursion Pharmaceuticals: Why Did Revenue Jump 258.5% Despite a $119.0 Million Loss?

Recursion filed its Quarterly Report on Nov 2, 2026, showing third quarter revenue of $18.6 million, up from $5.2 million, which it attributed mainly to a $10.0 million milestone from a collaboration with a large drugmaker. The clinical-stage company combines artificial intelligence, automation and biological data to discover medicines. Nine-month revenue was $32.7 million, down 16% from $39.1 million.

The net loss narrowed 27% to $119.0 million, or $0.22 per share, and Research and Development expense fell to $99.1 million from $121.1 million. Cash and cash equivalents were $549.9 million, which management believes funds operations for at least 12 months, although the filing states that more financing will be needed later. For REC-4881, 13 of 15 adult patients showed a lower polyp burden after 12 weeks.

2. Syndax Pharmaceuticals: What Drove the 82% Rise in Quarterly Revenue?

Syndax Pharmaceuticals reported third quarter revenue of $83.3 million, up from $45.9 million. Revuforj, a menin inhibitor for relapsed or refractory acute leukemia with certain genetic alterations, brought in $60.7 million of net product revenue, with about 1,700 prescriptions and roughly 300 new patients. Niktimvo collaboration revenue was $22.6 million, on net sales of $67 million that the partner books.

The net loss narrowed to $49.4 million, or $0.55 per share, from $60.7 million, or $0.70. Research and development expense rose 19.9% (calculated) to $67.5 million. Cash, cash equivalents and investments were $551 million, helped by $250.0 million of convertible notes issued in June 2026, and 2026 spending on research and development plus selling and administrative costs is still guided near $400 million.

3. Hinge Health: How Did Yield Gains Lift Revenue 52% and Raise the Outlook?

Hinge Health reported third quarter revenue of $235.0 million, up from $154.2 million and ahead of its own guidance of $223 million to $225 million. Management said the beat came entirely from billings outperformance driven by stronger yield, meaning the share of eligible members who enroll and engage. The company delivers digital care for musculoskeletal conditions and has added migraine and gastrointestinal programs.

GAAP Net Income was $57.4 million, or $0.66 per diluted share, versus a net loss of $1.8 million a year earlier. Non-GAAP operating Margin reached 33%, up from 20%, and free Cash Flow was $112.7 million. Full-year 2026 revenue guidance rose to $879 million to $881 million from $856 million to $860 million, and fourth quarter revenue is guided to $249 million to $251 million.

4. Axsome Therapeutics: Can the Alzheimer's Agitation Launch Explain 51.9% Revenue Growth?

Axsome Therapeutics reported third quarter revenue of $259.7 million, up from $171.0 million. Auvelity sales reached $207.6 million versus $136.1 million, helped by an approval in June 2026 for agitation associated with Alzheimer's disease. Management said the commercial portfolio has passed a $1 billion annualized revenue run-rate.

The net loss narrowed to $12.9 million, or $0.25 per share, from $47.2 million, or $0.94. Selling, general and administrative expenses rose to $203.1 million from $150.2 million on the launch, a national direct-to-consumer campaign and sales force expansion. Cash was $313.9 million, with $190.0 million drawn under its Credit agreement.

5. Neurocrine Biosciences: What Powered a Record $1.1 Billion Quarter and Slightly Lower Net Income?

Neurocrine Biosciences reported revenue of $1,122.7 million, up 41.2% from $794.9 million. INGREZZA brought in $801.5 million, CRENESSITY more than doubled to $210.8 million, and VYKAT XR, added through an Acquisition completed in May 2026, contributed $106.7 million. Management noted a $20 million order timing benefit in INGREZZA sales that is expected to reverse in the fourth quarter.

Net income was $206.5 million, or $1.96 per diluted share, versus $209.5 million, or $2.04, as a $52.3 million unrealized loss on Equity investments replaced a $30.6 million gain. Research and development expense climbed to $351.8 million from $250.0 million. Full-year INGREZZA guidance rose to $2.9 billion to $2.925 billion.

Healthcare Revenue Growth Compared: Small Bases, Big Percentages and Mixed Profit Outcomes

The five reported growth rates average 97.1% (calculated), but excluding Recursion the other four average 56.8% (calculated). Combined revenue is $1,719.3 million (calculated), with Neurocrine accounting for 65.3% (calculated).

Dollar gains tell a different story from percentages. Neurocrine added $327.8 million of revenue year over year (calculated), compared with $13.4 million at Recursion (calculated), even though Recursion ranks first on growth. The three loss-making companies reported combined net losses of $181.3 million (calculated). Hinge Health's growth figure is the company's rounded number, and Recursion and Axsome rates are derived from reported figures.

What to Watch Next: Neurocrine's Dec 15 R&D Day, Axsome's May 1, 2027 FDA Date and Leadership Changes

Neurocrine will hold its R&D Day in New York on Dec 15, 2026, and plans formal 2027 INGREZZA guidance in February. Axsome has a May 1, 2027 FDA target action date for AXS-12 in cataplexy associated with narcolepsy, with a Phase III binge eating disorder readout expected in the first quarter of 2027.

A new chief financial officer starts at Syndax on Nov 9, 2026, and new Revuforj data due at a hematology meeting in December. Hinge Health's president steps down on Jan 1, 2027 and joins the board on Jan 4, 2027. For Recursion, the materials name a registrational trial start and expansion data in the second half of 2027, but no precise dated event.