Ultragenyx Pharmaceutical (RARE) Operating Expenses (2013 - 2026)
Ultragenyx Pharmaceutical (RARE) posted quarterly 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 reported Operating Expenses for 14 consecutive years, with $305.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 8.16% year-over-year to $305.0 million; the TTM figure through Mar 2026 stood at $1.2 billion (up 11.5% YoY), while the FY2025 annual figure was $1.2 billion, up 10.22% from the prior year.
- Operating Expenses slipped to $305.0 million in Q1 2026 per RARE's latest filing, from $320.6 million in the prior quarter.
- Across five years, Operating Expenses topped out at $330.8 million in Q3 2025 and bottomed at $216.6 million in Q1 2022.
- Historically, Operating Expenses has averaged $272.0 million across 5 years, with a median of $271.5 million in 2024.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 84.15% — and 2023, when it retreated 23.0%.
- Ultragenyx Pharmaceutical's Operating Expenses stood at $249.0 million in 2022, then gained by 0.0% to $249.0 million in 2023, then rose by 15.25% to $287.0 million in 2024, then grew by 11.71% to $320.6 million in 2025, then declined 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.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 2.89 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 1.21 Bn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 4,978.15 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 541.02 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 1.06 Bn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Ultragenyx Pharmaceutical | 2.61 Bn | 2.33 Bn | 180.00 Mn | 289.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 289.00 Mn |
| 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 |