Ultragenyx Reports $214 Million Revenue in Q2 2026, Net Loss of $92 Million

Ultragenyx Pharmaceutical Inc. reported a total revenue of $214 million for the second quarter of 2026, marking a 28% increase from $167 million in the same period of 2025. For the first half of 2026, revenues reached $350 million, up from $306 million year-over-year. The growth was primarily driven by increased product sales, particularly for Crysvita, which saw a 54% rise in sales to $54 million, and Evkeeza, which experienced a 50% increase to $21 million. Royalty revenues also contributed significantly, with Crysvita royalties increasing to $102 million from $86 million in the prior year.

Despite the revenue growth, Ultragenyx reported a net loss of $92 million for the second quarter of 2026, a slight improvement from a loss of $115 million in the same quarter of 2025. The net loss for the first half of 2026 was $277 million, compared to $266 million in the previous year. The company attributed the ongoing losses to high research and development costs, which totaled $167 million for the second quarter, reflecting a marginal increase from $165 million in the same period last year. Selling, general, and administrative expenses remained stable, totaling $88 million for the second quarter of 2026.

In terms of strategic developments, Ultragenyx implemented a restructuring plan in February 2026 aimed at reducing operating expenses and reallocating resources to higher-value projects. This included a workforce reduction of approximately 10% and the cessation of certain manufacturing activities related to UX143. The restructuring resulted in total charges of $30 million for the first half of 2026, primarily recorded in research and development expenses.

Operationally, Ultragenyx's product adoption rates have shown positive trends, with increased patient counts contributing to higher sales figures. The company reported a significant increase in accounts receivable, reflecting the timing of orders and collections. As of June 30, 2026, Ultragenyx had $436 million in cash, cash equivalents, and marketable securities, down from $737 million at the end of 2025, indicating a need for continued capital management as the company navigates its ongoing clinical and commercial activities.

Looking ahead, Ultragenyx anticipates continued revenue growth driven by its existing product portfolio and upcoming product launches. The company is focused on advancing its clinical candidates, including DTX401 and UX111, which are currently under review by the FDA. However, the company also acknowledges the potential need for additional capital to support its operations and development plans, which may include equity offerings or strategic collaborations.