NASDAQ$RARE

Ultragenyx Pharmaceutical Inc. · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Ultragenyx reported Q4 2025 total revenue of $207M with a net loss of $129M.

Q4 total revenue grew 25% to $207 million; Crysvita revenue was $145 million and Dojolvi $32 million. Net loss was $129 million ($(1.29) per share). FY25 revenue was $673 million (+20%). 2026 total revenue guidance is $730M–$760M before potential new launches.

  • Q4 revenue $207M (+25% YoY).
  • Crysvita Q4 revenue $145M.
  • Net loss $129M.
  • 2026 revenue guide $730M–$760M.

Headline financials

Total Revenue

$207M

Previous: $165M+25.5%
EPS (adj)

-$1.29

Previous: -$1.39+7.2%
Total Operating Expenses

$321M

Previous: $287M+11.8%
Research and Development

$203M

Previous: $188M+8.0%
Selling, General and Administrative

$89M

Previous: $82M+8.5%
Non-cash Stock Based Compensation

$38M

Previous: $40M-5.0%
Net Cash Used in Operations

$100M

No prior period
Non-cash interest expense on liabilities for sales of future royalties

$19M

Previous: $15M+26.7%
Other income, net

$5M

Previous: $4M+25.0%
Provision for income taxes

$1M

No prior period
GTX-102 Clinical Milestone

$0.00

Previous: $30M-100.0%
Net Income

-$129M

Previous: -$133M+3.3%
Operating Income

-$114M

Previous: -$122M+6.8%

Revenue & EPS history

Ultragenyx · Revenue · Quarterly

$207M

Q4 2025+25.5%vs Q4 2024
Beat estimate in 6 of 15 quarters(40%)
ActualEstimate

Revenue by segment

Ultragenyx · $98.1M total across 4 segments · Q3 2023

  • Crysvita Revenue
    $74.9M+16.1%
  • Dojolvi Revenue
    $16.6M+24.7%
  • Mepsevii Revenue
    $5.63M-6.8%
  • Evkeeza Revenue
    $963K

Forward guidance

The release discusses RARE's outlook for upcoming periods, including capital allocation, operating priorities, and market risks.

Tailwinds

  • RARE cites operational execution and demand trends supporting the outlook.
  • Balance sheet and capital actions aim to fund growth and shareholder returns.

Headwinds

  • GAAP profitability remained under pressure in Q4 2025.
  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

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 Q4 2025

Historical avgQ4 2025

-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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