Financial Statements — RARE
Balance Sheet
(in billions USD)| Metric | Q2
2026 | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 0.13 | 0.18 | 0.20 | 0.18 | 0.13 | 0.15 | 0.48 | 0.11 | 0.07 | 0.10 | 0.09 | 0.39 | 0.16 | 0.15 | 0.20 | 0.29 | 0.38 |
| Accounts Receivable | 0.20 | 0.12 | 0.11 | 0.12 | 0.10 | 0.09 | 0.11 | 0.10 | 0.08 | 0.07 | 0.04 | 0.03 | 0.04 | 0.03 | 0.03 | 0.02 | 0.03 |
| Inventory | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.01 |
| Total Current Assets | 0.61 | 0.66 | 0.64 | 0.72 | 0.70 | 0.80 | 0.96 | 0.60 | 0.60 | 0.70 | 0.77 | 1.01 | 0.68 | 0.71 | 0.85 | 0.95 | 1.07 |
| Property, Plant & Equipment | 0.24 | 0.24 | 0.25 | 0.26 | 0.26 | 0.27 | 0.28 | 0.29 | 0.30 | 0.29 | 0.28 | 0.23 | 0.21 | 0.18 | 0.12 | 0.10 | 0.09 |
| Goodwill | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Intangible Assets | 0.17 | 0.17 | 0.17 | 0.17 | 0.18 | 0.16 | 0.17 | 0.17 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.16 | 0.13 | 0.13 | 0.13 |
| Total Non-current Assets* | 0.66 | 0.64 | 0.55 | 0.59 | 0.61 | 0.74 | 0.65 | 0.71 | 0.64 | 0.61 | 0.62 | 0.61 | 0.64 | 0.68 | 0.64 | 0.56 | 0.53 |
| Total Assets | 1.26 | 1.30 | 1.19 | 1.31 | 1.31 | 1.54 | 1.62 | 1.31 | 1.24 | 1.31 | 1.38 | 1.62 | 1.32 | 1.38 | 1.48 | 1.51 | 1.60 |
| Accounts Payable | 0.04 | 0.04 | 0.04 | 0.03 | 0.05 | 0.04 | 0.06 | 0.04 | 0.03 | 0.04 | 0.06 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 |
| Total Current Liabilities | 0.35 | 0.33 | 0.34 | 0.29 | 0.29 | 0.29 | 0.27 | 0.25 | 0.25 | 0.24 | 0.22 | 0.23 | 0.22 | 0.17 | 0.14 | 0.13 | 0.13 |
| Total Non-current Liabilities* | 1.20 | 1.20 | 0.83 | 0.85 | 0.87 | 0.90 | 0.91 | 0.92 | 0.95 | 0.94 | 0.94 | 0.92 | 0.42 | 0.42 | 0.42 | 0.41 | 0.42 |
| Total Liabilities | 1.55 | 1.53 | 1.17 | 1.15 | 1.16 | 1.18 | 1.19 | 1.17 | 1.21 | 1.18 | 1.16 | 1.15 | 0.64 | 0.59 | 0.55 | 0.54 | 0.54 |
| Retained Earnings | (4.81) | (4.72) | (4.40) | (4.22) | (4.11) | (3.82) | (3.69) | (3.56) | (3.26) | (3.10) | (2.94) | (2.63) | (2.38) | (2.23) | (1.95) | (1.88) | (1.76) |
| Total Stockholder Equity | (0.29) | (0.24) | 0.01 | 0.15 | 0.14 | 0.35 | 0.43 | 0.14 | 0.03 | 0.13 | 0.22 | 0.47 | 0.68 | 0.80 | 0.93 | 0.97 | 1.05 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Total Revenue | 214.00 | 136.00 | 207.28 | 159.93 | 166.50 | 139.29 | 164.88 | 139.49 | 147.03 | 108.83 | 127.39 | 98.05 | 108.31 | 100.50 | 103.35 | 90.70 | 89.34 | 79.94 | 83.39 | 81.65 |
| Research & Development | 167.00 | 187.00 | 203.28 | 216.21 | 164.74 | 165.77 | 187.77 | 170.11 | 161.50 | 178.49 | 160.56 | 157.25 | 164.95 | 165.70 | 170.81 | 237.30 | 154.53 | 143.16 | 123.01 | 113.42 |
| Selling, General & Admin | 88.00 | 88.00 | 87.94 | 86.62 | 86.65 | 87.80 | 82.50 | 80.35 | 80.60 | 78.16 | 76.83 | 74.92 | 81.40 | 76.65 | 72.85 | 69.84 | 68.14 | 67.31 | 59.43 | 53.88 |
| Total Operating Expenses | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- | -- |
| Operating Income | (75.00) | (169.00) | (113.28) | (170.89) | (107.89) | (142.94) | (122.28) | (131.99) | (116.36) | (165.35) | (122.05) | (145.10) | (147.96) | (154.10) | (145.63) | (225.07) | (141.59) | (136.63) | (102.56) | (89.83) |
| Pretax Income | (91.00) | (184.00) | (127.69) | (179.54) | (114.00) | (149.77) | (133.40) | (133.21) | (130.74) | (170.23) | (126.89) | (159.00) | (159.10) | (163.48) | (153.28) | (238.82) | (157.86) | (151.76) | (122.44) | (72.82) |
| Tax Provision | 1.00 | 1.00 | 0.87 | 0.87 | 0.95 | 1.31 | (0.02) | 0.30 | 0.86 | 0.46 | (3.70) | 0.65 | 0.73 | 0.50 | (1.45) | 6.29 | 0.30 | 0.56 | 0.02 | 0.18 |
| Net Income | (92.00) | (185.00) | (128.56) | (180.41) | (114.95) | (151.08) | (133.38) | (133.52) | (131.60) | (170.68) | (123.19) | (159.65) | (159.83) | (163.97) | (151.83) | (245.11) | (158.16) | (152.32) | (122.46) | (73.00) |
| Basic EPS | (0.90) | (1.84) | (1.28) | (1.81) | (1.17) | (1.57) | (1.34) | (1.40) | (1.52) | (2.03) | (1.44) | (2.23) | (2.25) | (2.33) | (2.16) | (3.50) | -- | -- | -- | -- |
| Diluted EPS | (0.90) | (1.84) | (1.28) | (1.81) | (1.17) | (1.57) | (1.34) | (1.40) | (1.52) | (2.03) | (1.44) | (2.23) | (2.25) | (2.33) | (2.16) | (3.50) | -- | -- | -- | -- |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 |
|---|
| Operating Cash Flow | (97.00) | (197.00) | (99.83) | (91.42) | (108.27) | (166.47) | (79.50) | (66.99) | (76.96) | (190.73) | (83.90) | (117.87) | (116.16) | (156.87) | (90.34) | (95.34) | (77.26) | (117.52) | (54.34) | (59.65) |
| Capital Expenditures | 1.00 | 1.00 | 0.94 | 1.28 | 2.46 | 1.32 | 0.65 | 1.62 | 2.01 | 3.21 | 1.60 | 3.70 | 13.94 | 25.03 | 26.97 | 26.05 | 30.92 | 32.18 | 16.05 | 20.56 |
| Free Cash Flow* | (98.00) | (198.00) | (100.77) | (92.70) | (110.73) | (167.80) | (80.16) | (68.61) | (78.97) | (193.94) | (85.50) | (121.57) | (130.10) | (181.90) | (117.31) | (121.39) | (108.18) | (149.71) | (70.39) | (80.21) |
| Investing Cash Flow | 44.00 | (49.00) | (72.25) | 117.18 | 71.18 | 119.89 | 102.74 | (275.50) | 60.56 | 94.44 | (107.02) | 64.30 | 99.42 | 111.30 | (171.60) | (161.86) | 79.17 | (37.36) | 69.06 | (40.76) |
| Financing Cash Flow | 3.00 | -- | 394.19 | 0.00 | 83.65 | 0.16 | 3.19 | 11.17 | 384.94 | (0.06) | 330.61 | 25.23 | 33.02 | (0.72) | 1.88 | 491.88 | 5.84 | 1.61 | 85.73 | 7.55 |
* Derived from reported values
