Filing Flows › Ultragenyx Pharmaceutical (RARE) › Q2 2026
Ultragenyx Pharmaceutical (RARE) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 5, 2026
Ultragenyx Pharmaceutical (RARE) reported revenue of $214M for the second quarter 2026 (Q2 2026), +28% from a year earlier and +57% from the quarter before. Operating margin was -35.0%, net loss $92.0M (43.0% of revenue).
Ultragenyx Pharmaceutical, Q2 2026: revenue $214M (+28% year over year), operating margin -35.0%, net loss $92.0M, operating cash flow −$97.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $214M | +57% | +28% |
| Operating profit | −$75.0M | — | — |
| Net earnings | −$92.0M | — | — |
| Operating cash flow | −$97.0M | — | — |
What changed
Revenue was $214.0M in Q2 2026, up 28% year over year and up 57% from the previous quarter. Product was the largest line at 52% of revenue. Product added $31.0M year over year (up 38%), 66% of the total change.
Operating costs exceeded revenue by $75.0M, an operating margin of -35.0%. Total costs grew 5% against revenue growth of 28%. The fastest-growing cost line was Other operating costs (+48%). The quarter ended with a net loss of $92.0M, narrower than the previous quarter's $185.0M loss.
Operating cash flow was −$97.0M. Non-cash charges added back $8.0M of depreciation and amortization and $34.0M of share-based compensation. Working capital and other items used $47.0M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$98.0M.
Questions
What was Ultragenyx Pharmaceutical's revenue in the second quarter 2026?
Ultragenyx Pharmaceutical (RARE) reported revenue of $214M for the second quarter 2026 (Q2 2026), +28% from a year earlier and +57% from the quarter before.
Was Ultragenyx Pharmaceutical profitable in the second quarter 2026?
Operating loss was $75.0M (-35.0% of revenue) and net loss $92.0M.