Revenue
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $673.0M | $560.0M | $434.0M | $363.3M | $351.4M | $271.0M | $103.7M | $51.5M | $2.6M | $133,000 | — | — | — | — |
| Gross profit | $564.0M | $483.0M | $389.0M | $335.0M | — | — | — | $50.3M | $2.6M | — | — | — | — | — |
| Gross margin | 83.80% | 86.25% | 89.63% | 92.21% | — | — | — | 97.77% | 99.96% | — | — | — | — | — |
| Research & development | $750.0M | $698.0M | $648.0M | $705.8M | $497.2M | $412.1M | $357.4M | $294.0M | $231.6M | $183.2M | $114.7M | $46.0M | $27.8M | $12.6M |
| Operating expenses | $1.10B | $1.02B | $958.0M | $983.9M | — | $601.1M | $527.9M | $422.9M | $331.6M | $248.1M | $147.7M | $56.8M | $32.3M | $16.0M |
| Operating income | −$535.0M | −$536.0M | −$569.0M | −$648.9M | −$381.7M | −$330.1M | −$424.2M | −$371.4M | −$328.9M | −$248.0M | −$147.7M | −$56.8M | −$32.3M | −$16.0M |
| Operating margin | −79.49% | −95.71% | −131.11% | −178.60% | −108.63% | −121.80% | −408.98% | −721.18% | −12,593.49% | −186,471.43% | — | — | — | — |
| EBITDA | −$500.0M | −$500.0M | −$543.0M | −$630.7M | −$368.5M | −$317.9M | −$415.6M | −$351.8M | −$323.1M | −$244.6M | −$146.4M | −$56.1M | −$31.8M | −$15.7M |
| EBITDA margin | −74.29% | −89.29% | −125.12% | −173.59% | −104.86% | −117.28% | −400.75% | −683.24% | −12,370.48% | −183,896.99% | — | — | — | — |
| Net income | −$575.0M | −$569.0M | −$607.0M | −$707.4M | −$454.0M | −$186.6M | −$402.7M | −$197.6M | −$302.1M | −$245.9M | −$145.6M | −$59.8M | −$35.1M | −$16.3M |
| Net profit margin | −85.44% | −101.61% | −139.86% | −194.71% | −129.20% | −68.84% | −388.31% | −383.75% | −11,567.34% | −184,867.67% | — | — | — | — |
| Basic EPSper basic share | -$5.83 | -$6.29 | -$8.25 | -$10.12 | -$6.70 | -$3.07 | -$7.12 | -$3.97 | -$7.12 | -$6.21 | -$3.96 | -$2.25 | -$14.87 | -$14.20 |
| Diluted EPSper diluted share | -$5.83 | -$6.29 | -$8.25 | -$10.12 | -$6.70 | -$3.07 | -$7.12 | -$3.97 | -$7.12 | -$6.21 | -$3.96 | -$2.25 | -$14.87 | -$14.20 |
Reported shareholders
| Holder | % owned |
|---|---|
BlackRock, Inc. | 10.81%10.65M shares |
RTW INVESTMENTS, LP | 7.91%7.8M shares |
VANGUARD PORTFOLIO MANAGEMENT LLC | 6.89%6.79M shares |
AQR CAPITAL MANAGEMENT LLC | 6.65%6.56M shares |
STATE STREET CORP | 6.25%6.16M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 4.36%4.3M shares |
TWO SIGMA INVESTMENTS, LP | 3.67%3.62M shares |
SANDS CAPITAL MANAGEMENT, LLC | 3.20%3.16M shares |
JACOBS LEVY EQUITY MANAGEMENT, INC | 2.98%2.94M shares |
FRONTIER CAPITAL MANAGEMENT CO LLC | 2.89%2.85M shares |
KAKKIS EMIL D | ≈2.73%2.69M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.62%2.58M shares |
Bellevue Group AG | 2.01%1.98M shares |
D. E. Shaw & Co., Inc. | 1.75%1.73M shares |
Sofinnova Investments, Inc. | 1.74%1.72M shares |
ADAGE CAPITAL PARTNERS GP, L.L.C. | 1.60%1.58M shares |
GW&K Investment Management, LLC | 1.50%1.48M shares |
MPM BIOIMPACT LLC | 1.44%1.42M shares |
PRICE T ROWE ASSOCIATES INC /MD/ | 1.38%1.36M shares |
MORGAN STANLEY | 1.34%1.32M shares |
Percentages use 98.6M shares of this listed class outstanding on Jun 30, 2026. ≈ compares the latest reported holding with a share total from a different date; it is not a confirmed current stake.
Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Jun 15, 2026Form 4 | Sanders Corazon (Corsee) D.Director | SellCommon Stock | 2.0K | $25.05 | $50.1K | 21.1K |
| Jun 15, 2026Form 4 · 10b5-1 | Parschauer Karah HerdmanEVP and Chief Legal Officer | SellCommon Stock | 1.9K | $24.62 | $46.8K | 94.5K |
| Jun 1, 2026Form 4 · 10b5-1 | Horn HowardChief Financial Officer | SellCommon Stock | 4.7K | $23.77 | $110.6K | 105.7K |
| May 18, 2026Form 4 · 10b5-1 | SULIMAN SHEHNAAZDirector | SellCommon Stock | 5.7K | $25.12 | $144.2K | 28.0K |
| May 5, 2026Form 4 | Crombez EricEVP and Chief Medical Officer | SellCommon Stock | 344 | $24.96 | $8.6K | 111.2K |
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