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Ultragenyx Pharmaceutical (RARE) investor relations material
Ultragenyx Pharmaceutical Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Q3 2025 revenue reached $160 million, a 15% year-over-year increase, driven by strong sales of Crysvita, Dojolvi, and Evkeeza, and supported by four commercial products and a robust late-stage pipeline.
$400 million in non-dilutive capital was raised through the sale of a portion of Crysvita royalties to OMERS, with payments deferred until 2028, significantly strengthening the balance sheet.
The company is advancing pivotal data readouts for UX143 and GTX-102, with BLA submissions for DTX401 and UX111 expected in late 2025 and early 2026.
Net losses continue due to increased R&D and SG&A expenses, with a path to GAAP profitability targeted for 2027.
Management expects annual losses to continue in the near term but anticipates profitability by 2027.
Financial highlights
Q3 2025 total revenue was $160 million, up 15% year-over-year; nine-month revenue grew 18% to $465.7 million.
Product contributions in Q3: Crysvita $112M, Dojolvi $24M, Evkeeza $17M, Mepsevii $7M.
Net loss for Q3 2025 was $180 million, or $1.81 per share, compared to $134 million, or $1.40 per share, in Q3 2024.
Operating expenses for Q3 2025 were $331 million, including $216 million R&D and $37 million non-cash stock-based compensation.
Cash, cash equivalents, and marketable debt securities totaled $447 million as of September 30, 2025, further bolstered by the $400 million royalty transaction.
Outlook and guidance
2025 revenue guidance reaffirmed at $640M–$670M, representing 14%-20% growth over 2024.
Crysvita revenue expected at $460M–$480M (12%-17% growth); Dojolvi at $90M–$100M.
Path to GAAP profitability targeted for 2027, with continued financial discipline and monetization of PRVs included in the plan.
Existing capital resources expected to fund operations for at least the next 12 months.
Crysvita royalty deal: future revenue impact?
What are the key near-term pipeline catalysts?
How will 2027 GAAP profitability be achieved?
Crysvita royalty deal's impact on 2027 profitability
Key success metrics for upcoming OI data readout
Reason for DTX401/UX111 BLA submission timing shift
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Next Ultragenyx Pharmaceutical earnings date
Citi Annual Global Healthcare Conference 20252 Dec, 2025
Next Ultragenyx Pharmaceutical earnings date
Citi Annual Global Healthcare Conference 20252 Dec, 2025
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Frequently asked questions
Ultragenyx Pharmaceutical Inc. is a biopharmaceutical company dedicated to developing and commercializing therapies for rare and ultra-rare genetic diseases. The company's focus includes treatments for metabolic disorders, bone diseases, and other conditions with significant unmet medical needs. Ultragenyx leverages innovative research and targeted approaches to address complex diseases that often lack effective therapies.The company is headquartered in Novato, California, and its shares are listed on the NASDAQ.
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