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| Date | Value |
|---|---|
| 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 |