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Ultragenyx Pharmaceutical cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$45.0M in Q3 2026 · −$442M over twelve months

Operating cash flow−$43.0M
Capital spending−$2.0M
Free cash flow−$45.0M

Analysis

In Q3 2026, Ultragenyx Pharmaceutical generated −$43.0M of operating cash flow and spent $2.0M on capital projects, leaving free cash flow of −$45.0M. That is $47.0M more than in Q3 2025 (−$92.0M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$437M; the largest uses were operating cash flow ($437M), other investing ($14.0M), capital spending ($5.0M); besides operations, cash came from other financing ($402M), shares issued ($5.0M); the cash balance fell by $51.0M.

Operating cash flow was −$43.0M against net income of −$118M. The largest differences: stock-based pay +$34.0M, receivables +$23.0M, depreciation & amortization +$9.0M.

Free cash flow

Ultragenyx Pharmaceutical: free cash flow by quarterUltragenyx Pharmaceutical: free cash flow by quarter−$79.5MQ4 2024−$167MQ1 2025−$112MQ2 2025−$92.0MQ3 2025−$101MQ4 2025−$198MQ1 2026−$98.0MQ2 2026−$45.0MQ3 2026
Operating cash flow less capital spending.
Ultragenyx Pharmaceutical: operating cash flow against capital spendingUltragenyx Pharmaceutical: operating cash flow against capital spendingOperating cash flowCapital spending−$79.3M$163KQ4 2024−$166M$1.0MQ1 2025−$109M$3.0MQ2 2025−$91.0M$1.0MQ3 2025−$100M$1.0MQ4 2025−$197M$1.0MQ1 2026−$97.0M$1.0MQ2 2026−$43.0M$2.0MQ3 2026
Latest (Q3 2026): Operating cash flow −$43.0M, Capital spending $2.0M.

Capital allocation, year by year

Ultragenyx Pharmaceutical: where the cash came from (up) and went (down), by fiscal yearUltragenyx Pharmaceutical: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$339MFY2021: Shares issued $36.6MFY2021: Capital spending −$73.1M$36.6MFY2021FY2022: Operating cash flow −$380MFY2022: Shares issued $6.2MFY2022: Capital spending −$116MFY2022: Acquisitions −$75.0M$6.2MFY2022FY2023: Operating cash flow −$475MFY2023: Shares issued $3.0MFY2023: Capital spending −$44.0M$3.0MFY2023FY2024: Operating cash flow −$414MFY2024: Shares issued $6.0MFY2024: Capital spending −$7.0M$6.0MFY2024FY2025: Operating cash flow −$466MFY2025: Capital spending −$6.0MFY2025
Over these 5 years operating cash flow totalled −$2.1B; the largest uses were operating cash flow ($2.1B) and capital spending ($246M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$266M
Debtnone
Net cash$266M
Cash runway7 months

Ultragenyx Pharmaceutical is burning cash: its operations consume cash, a free cash flow of −$442M a year at the current rate against $266M of cash and investments: a runway of about 7 months before any new financing.

Where the cash came from and went

Ultragenyx Pharmaceutical: sources (+) and uses (−) of cash, Q3 2026Ultragenyx Pharmaceutical: sources (+) and uses (−) of cash, Q3 2026Other investing$60.0MOperating cash flow−$43.0MCash drawn (+) / kept (−)−$24.0MOther financing$10.0MCapital spending−$2.0MExchange rates−$1.0M
Ultragenyx Pharmaceutical: sources (+) and uses (−) of cash, TTM to Q3 2026Ultragenyx Pharmaceutical: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow−$437MOther financing$402MCash drawn (+) / kept (−)$51.0MOther investing−$14.0MCapital spending−$5.0MShares issued$5.0MExchange rates−$2.0M

From profit to cash

Ultragenyx Pharmaceutical: net income to operating cash flow, Q3 2026Ultragenyx Pharmaceutical: net income to operating cash flow, Q3 2026Net income−$118MDepreciation & amortization$9.0MStock-based pay$34.0MOther non-cash$2.0MReceivables$23.0MInventory−$1.0MOperating cash flow−$43.0M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$43.0M−$2.0M—−$24.0M−$45.0M
Q2 2026−$97.0M−$1.0M—$49.0M−$98.0M
Q1 2026−$197M−$1.0M—$247M−$198M
Q4 2025−$100M−$1.0M$2.0M−$221M−$101M
Q3 2025−$91.0M−$1.0M—−$26.0M−$92.0M
Q2 2025−$109M−$3.0M—−$50.0M−$112M
Q1 2025−$166M−$1.0M—$45.0M−$167M
Q4 2024−$79.3M−$163K—−$24.2M−$79.5M

Ultragenyx Pharmaceutical: income statement and cash flow

Ultragenyx Pharmaceutical, Q3 2026: revenue $173M (+8% year over year), operating margin -63.6%. The chart follows the revenue to costs, profit and cash.

Ultragenyx Pharmaceutical: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.