A company still losing money with growing sales, with high risk. Institutions are adding.
Going well
Sales up 28% in the latest quarter vs a year ago
Sales up 20% last year
Watch out for
About 11 months of cash left at its current burn
Owes more than it owns (negative equity)
Share count growing 12.1% a year (dilution)
Money moves
Insiders sold $108K in the last 30 days
Institutions added 9% to their holdings in the quarter ending June 2026 (171 bought, 139 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$16.09+2.8% that day
Company value
$1.6B
Share price times all shares
Price vs sales
2.2x
No profit over the last year, so this compares value with sales instead
Cash vs value
8%
Cash as a share of company value
From RARE's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$214.0M+28% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $717.2M, up 18% from the 12 months before. Over 5 years, sales grew about 20% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of RARE. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$1.6B
Profit in 5 years$164M
Price these guesses point to$15.50-3.7% vs $16.09 todayAbout -0.7% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 19% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
0/5Weak
MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-85.4%
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$472.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+41.0% in 3 years
Revenue
$673.0M
+20.2% vs prior year
5-year growth
+19.9%/yr
revenue, per year
Current ratio
2.48x
short-term assets / bills due
Free cash flow
-$472.0M
-70.1% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 4
Revenue
$214.0M
+28.1% YoY
EPS
-$0.90
vs -$1.17
Op. margin
-35.0%
+29.7 pts
Free cash flow
-$98.0M
Share count
+3.5%
vs a year ago
Insider rating
Last 90 days
40Mixed
1 insider sold $108K (not pre-planned)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
1.8
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+9.0%
Institutions added 9.0% to their holdings. 171 bought, 139 sold. 2 quarters of net buying in a row.
Shares held by institutions106.9M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+11.3%
Cash runwayAt last year's cash burn
3 months
Debt to equityLatest balance sheet: debt compared with what owners have
Owes more than it owns
Shares outstandingLatest reported
99M
Why high risk
Losing money, losses are large next to sales
About 3 months of cash left at its current burn
Share count growing 11.3% a year (dilution)
Owes more than it owns (negative equity)
Earnings reports
Last 12
Next reportIn 6 days (est.)Estimated from the same quarter last year
Results filedAug 4
Results filedMay 5
Results filedFeb 12
Results filedJan 12
Results filedNov 4, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days