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UroGen Pharma (URGN) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · UroGen Pharma (URGN) Q3 2026 earnings results →
Q3 2026 Revenue up 224% year over year to $89.0M · 2¢ of every $1 of revenue lost · operating margin 9.4%
UroGen Pharma made $89.0M in Q3 2026 (+224% Y/Y): Zusduri $68.0M, Jelmyto $21.0M. Operating margin 9.4%, net loss $1.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $89.0M in Q3 2026, up 224% year over year and up 23% from the previous quarter. Zusduri was the largest line at 76% of revenue. Zusduri added $66.3M year over year (up 3725%), 108% of the total change. Jelmyto declined 18%.
Gross margin was 91.6%, up 3.5 points from Q3 2025. Operating profit was $8.3M, a 9.4% margin (up 109.0 points year over year). Operating expenses grew 42% against revenue growth of 224%. The fastest-growing cost line was Research & development (+85%). The quarter ended with a net loss of $1.5M, narrower than the previous quarter's $14.4M loss. Net interest and other expense of $8.8M was the main reason.
Operating cash flow was −$15.2M. Non-cash charges added back $100K of depreciation and amortization and $6.2M of share-based compensation. Working capital and other items used $20.1M. Capital expenditures of $72K exceeded it, leaving free cash flow of −$15.3M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $89.0M | +224% | 9.4% | −$1.5M | −$15.2M |
| Q2 2026 | 10-Q | Aug 5, 2026 | $72.5M | +199% | 0.2% | −$14.4M | −$33.0M |
| Q1 2026 | 10-Q | May 6, 2026 | $51.0M | +152% | -39.8% | −$23.6M | −$45.3M |
| Q4 2025 | 10-K | Mar 2, 2026 | $37.8M | +54% | -50.5% | −$26.4M | −$38.3M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $27.5M | +9% | -99.7% | −$33.3M | −$42.3M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $24.2M | +11% | -171.2% | −$49.9M | −$39.8M |
| Q1 2025 | 10-Q | May 12, 2025 | $20.3M | +8% | -182.3% | −$43.8M | −$42.0M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About UroGen Pharma
We are a biotechnology company dedicated to developing and commercializing innovative solutions that treat urothelial and specialty cancers. We have developed RTGel reverse-thermal hydrogel, a proprietary sustained release, hydrogel-based technology that has the potential to improve therapeutic profiles of existing drugs. Our technology is designed to enable longer exposure of urinary tract tissue to medications, making local therapy a potentially more effective treatment option.
In its own words, from its 10-K, filed Mar 2, 2026.
UroGen Pharma against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +224% against the peers' median +10%. Operating margin: 9.4% against the peers' median 20.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| URGN UroGen Pharma | Q3 2026 | $89.0M | +224% | 9.4% |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: UroGen Pharma 10-Q on SEC EDGAR · CIK 1668243 · Pharmaceutical Preparations
Guidance and outlook
More on URGN
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results