NASDAQ$RARE

Ultragenyx Pharmaceutical Inc. · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

Ultragenyx reported strong financial results with total revenue of $36.3 million and maintained full year 2020 financial guidance.

Ultragenyx reported first quarter 2020 financial results, with total revenue of $36.3 million. The company maintains full year 2020 guidance based on COVID-19 impact to date. The FDA reviews for Crysvita for TIO and UX007 for LC-FAOD are on track to be completed in the coming months.

  • Total revenue for the first quarter of 2020 was $36.3 million.
  • Crysvita revenue in Ultragenyx territories was $28.8 million.
  • The company maintains full year 2020 guidance.
  • FDA reviews for Crysvita for TIO and UX007 for LC-FAOD are on track.

Headline financials

Total Revenue

$36.3M

Previous: $18.2M+99.8%
EPS (adj)

-$2.05

Previous: -$1.82-12.6%
Total Operating Expenses

$157M

No prior period
Capital Expenditures

-$14.1M

Previous: -$3.06M-360.8%
Free Cash Flow

-$133M

Previous: -$99.8M-33.4%
Net Income

-$119M

Previous: -$96.8M-23.0%
Operating Income

-$121M

Previous: -$99.2M-21.6%
Gross Profit

$36.3M

Previous: $17.7M+104.9%
Cash & Equivalents

$705M

Previous: $270M+161.4%
Total Assets

$1.23B

Previous: $1.01B+22.4%

Revenue & EPS history

Ultragenyx · Revenue · Quarterly

$36.3M

Q1 2020+99.8%vs Q1 2019
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

Ultragenyx · $32.2M total across 2 segments · Q1 2020

  • Crysvita Revenue
    $28.8M
  • Mepsevii Revenue
    $3.4M

Forward guidance

The company currently maintains the guidance range for 2020 Crysvita revenue in the Ultragenyx territories to be between $125.0 million and $140.0 million, although it continues to monitor the COVID-19 pandemic situation. The company also expects a more than 20 percent reduction in net cash burn in 2020 compared to 2019 due to a combination of financial discipline in spending with flattening operating expense growth, combined with a significant anticipated growth in revenue.

Tailwinds

  • Crysvita revenue guidance maintained between $125.0 million and $140.0 million.
  • Expects a more than 20% reduction in net cash burn in 2020 compared to 2019.
  • Financial discipline in spending.
  • Flattening operating expense growth.
  • Significant anticipated growth in revenue.

Headwinds

  • Continues to monitor the COVID-19 pandemic situation.
  • Potential delays in clinical trials due to COVID-19
  • Uncertainties related to insurance coverage and reimbursement approval for the company’s products
  • Manufacturing risks
  • Smaller than anticipated market opportunities for the company’s products and product candidates

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-1.2%

Avg return

Earnings day

-0.5%

Avg return

5 days after

+0.1%

Avg return

30 days after

42%

20 / 48 earnings

Positive

+14.7%

Q1 2015

Best reaction

-18.9%

Q1 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+3.8%+5.2%-12.5%
Q4 2025-12.7%-13.0%-9.2%
Q3 2025-1.5%-1.6%+12.1%
Q1 2025-4.8%+2.9%+6.0%
Q4 2024-2.4%+1.8%-9.6%
Q3 2024-1.1%-1.4%-7.3%
Q2 2024+12.1%+10.6%+26.1%
Q1 2024-1.3%-3.1%-7.3%
Q4 2023+7.1%+4.8%+3.7%
Q3 2023+7.7%+5.7%+11.4%
Q2 2023-11.1%-16.9%-10.8%
Q1 2023+9.0%+8.6%+17.4%
Q4 2022+10.2%+2.9%-12.8%
Q3 2022-9.0%-16.4%-4.2%
Q2 2022+4.9%+0.9%-2.6%
Q1 2022-18.9%-24.5%-27.5%
Q4 2021-2.5%-1.6%-12.5%
Q3 2021+0.0%-3.1%-8.0%
Q2 2021+4.9%+10.9%+24.8%
Q1 2021-0.5%+7.5%-11.4%
Q4 2020-10.1%-13.7%-24.1%
Q3 2020+4.1%+10.1%+31.3%
Q2 2020+2.5%+10.4%+12.4%
Q1 2020-2.4%+4.1%+8.1%
Q4 2019-2.8%-2.8%-31.1%
Q3 2019-7.9%-4.6%+5.0%
Q2 2019-7.6%-3.6%-9.6%
Q1 2019-8.0%-5.7%-15.4%
Q4 2018+6.8%+5.6%+21.9%
Q3 2018+0.9%-3.0%-6.4%
Q2 2018-9.5%-2.5%+6.8%
Q1 2018+6.1%+17.7%+42.3%
Q4 2017-1.7%+1.6%+9.0%
Q3 2017+3.2%-5.2%+7.7%
Q2 2017-5.4%-10.6%-27.4%
Q1 2017+2.0%+2.5%-5.1%
Q4 2016+0.2%+0.2%+10.2%
Q2 2016-2.2%+0.2%+2.5%
Q1 2016+0.6%
Q4 2015-0.7%
Q3 2015-6.1%
Q2 2015-3.8%
Q1 2015+14.7%
Q4 2014-7.2%
Q3 2014-4.2%
Q2 2014+1.9%
Q1 2014-8.5%
Q4 2013-8.4%
Q2 2013
Q1 2013
Q4 2012

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