Ultragenyx Pharmaceutical (RARE) Operating Expenses (2013 - 2026)

Ultragenyx Pharmaceutical (RARE) reported Operating Expenses of $305.0 million for Q1 2026, up 8.16% year-over-year from $282.0 million in Q1 2025, and down 4.85% quarter-over-quarter from $320.6 million in Q4 2025.

Ultragenyx Pharmaceutical (RARE) Operating Expenses (2013 - 2026) Analysis & Trends

Ultragenyx Pharmaceutical (RARE) has 14 years of Operating Expenses data on file, last reported at $305.0 million in Q1 2026.

  • Operating Expenses for Q1 2026 came in at $305.0 million, up 8.16% year-over-year; the trailing twelve-month figure through Mar 2026 was $1.2 billion (up 11.5% YoY), and the FY2025 annual result was $1.2 billion, up 10.22% from the prior year.
  • Operating Expenses declined to $305.0 million in Q1 2026 per RARE's latest filing, from $320.6 million in the prior quarter.
  • Over five years, Operating Expenses peaked at $330.8 million in Q3 2025 and troughed at $216.6 million in Q1 2022.
  • A 5-year average of $272.0 million and a median of $271.5 million in 2024 frame the typical range for Operating Expenses.
  • The sharpest annual moves came in 2022 and 2023: Operating Expenses surged 84.15% in 2022, then retreated 23.0% in 2023.
  • A 5-year view of Operating Expenses shows it stood at $249.0 million in 2022, then rose by 0.0% to $249.0 million in 2023, then increased by 15.25% to $287.0 million in 2024, then climbed by 11.71% to $320.6 million in 2025, then dropped by 4.85% to $305.0 million in 2026.
  • Business Quant data shows RARE's Operating Expenses at $305.0 million in Q1 2026, $320.6 million in Q4 2025, and $330.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Opex (Qtr)
1 Alterity Therapeutics 925,601.88 Bn 925,601.85 Bn - 4.33 Mn
2 Belite Bio 58,560.00 Bn 58,560.00 Bn - 32.68 Mn
3 Quantum Biopharma 17,284.41 Bn 17,284.40 Bn - 2.97 Mn
4 Legend Biotech 2,809.00 Bn 2,808.71 Bn 242.10 Mn -138.30 Mn
5 Evaxion A 1,334.43 Bn 1,334.42 Bn - -3.82 Mn
6 Akari Therapeutics 1,312.27 Bn 1,312.26 Bn - 15.76 Mn
7 Psyence Biomedical 212.16 Bn 212.16 Bn - 574,669.00
8 Vertex Pharmaceuticals 114.83 Bn 107.58 Bn 2.59 Bn 1.85 Bn
9 Abivax 91.96 Bn 91.96 Bn - -67.40 Mn
10 Ultragenyx Pharmaceutical 2.77 Bn 2.36 Bn 106.00 Mn 305.00 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 305.00 Mn
Dec 31, 2025 320.56 Mn
Sep 30, 2025 330.82 Mn
Jun 30, 2025 274.38 Mn
Mar 31, 2025 282.00 Mn
Dec 31, 2024 286.95 Mn
Sep 30, 2024 271.48 Mn
Jun 30, 2024 263.39 Mn
Mar 31, 2024 274.18 Mn
Dec 31, 2023 248.98 Mn
Sep 30, 2023 243.15 Mn
Jun 30, 2023 256.27 Mn
Mar 31, 2023 254.60 Mn
Dec 31, 2022 248.98 Mn
Sep 30, 2022 315.77 Mn
Jun 30, 2022 230.94 Mn
Mar 31, 2022 216.57 Mn
Dec 31, 2021 185.95 Mn
Sep 30, 2021 171.48 Mn
Jun 30, 2021 169.75 Mn