Revenue Analysis:
Total and Operating Revenues have shown variation over the periods, with the most recent figure at $108,833,000 in 2024-03-31. Previous quarters like 2023-12-31 at $127,392,000 and 2023-09-30 at $98,052,000 demonstrate some fluctuations. Gross Profit has also varied, with the most recent being $91,300,000 in 2024-03-31 compared to $115,341,000 in 2023-12-31 and $87,065,000 in 2023-09-30.
Cost Management:
The Cost of Revenue and Operating Expenses has seen a similar trend of variability. For instance, Cost of Revenue was $17,533,000 in 2024-03-31 slightly less than $12,051,000 in 2023-12-31. Operating Expense was significantly high at $256,647,000 in 2024-03-31 compared to $237,390,000 in 2023-12-31. Total Expenses also followed this high trend, amounting to $274,180,000 in 2024-03-31.
Profitability Analysis:
EBITDA and Operating Income have stayed negative, emphasizing ongoing operational challenges. EBITDA at -$145,537,000 and Operating Income at -$165,347,000 in 2024-03-31 reflect significant operational losses, similar to past quarters. Pretax Income and Net Income also indicate considerable losses, with Net Income at -$170,684,000 in 2024-03-31.
Cash Flow Indicators:
Reconciled Depreciation was $8,845,000 in 2024-03-31 while Interest Expense stood at $15,847,000, implicating substantial holding costs affecting cash flows.
Taxation:
Tax rate and provisions have shown variability with a tax rate for calcs at 0.4 in 2024-03-31. The Tax Provision was surprisingly low at $455,000 despite heavy losses, which could be due to adjusted tax benefits or credits.
Shareholder Metrics:
The Diluted EPS (Earnings Per Share) was -2.03 in 2024-03-31, consistent with the trend in previous quarters. The number of Average Shares was measured as 84,286,292 which informs about the shareholder dilution status. Net Income Available to Common Stockholders also reiterated the net losses standing at -$170,684,000 for the latest period.
Conclusion:
The company RARE shows consistent losses in operations and net income across different financial quarters. Variability in revenue and gross profits does not compensate for the high operating costs and expenses. The negative EBITDA, Operating Income, and Net Income metrics suggest a pressing need for revisiting operational efficiency and possibly revising cost management strategies. Taxation benefits are not significantly aiding the bottom line, further solidifying challenges. Shareholders face continued earnings pressure as seen from the EPS figures and net losses applied to common stockholders.