Ultragenyx Pharmaceutical Inc. (RARE)

Ultragenyx Pharmaceutical beat expectations on both the top and bottom line in the second fiscal quarter of 2026, reported August 4, 2026, as revenue rose 28.5% to about $214.0 million, with EPS of -$0.90 topping the -$1.22 estimate by $0.32. The revenue outperformance also showed up versus consensus, with $214.0 million against a $183.1 million estimate (+16.9%, topped), and growth was led by Product Revenue, which climbed 38.3% to roughly $112.0 million, while Royalty revenue increased 18.6% to about $102.0 million. Gross profit reached around $180.0 million and gross margin ran at 84.1%, as the company posted an operating loss of about $75.0 million, implying an operating margin of -35.0%. Net income was -$92.0 million, improving 20.0% year over year from -$115.0 million, alongside EPS improving 23.1% from -$1.17 a year ago. Cash flow remained a use of cash, with negative operating cash flow of roughly $97.0 million. For the next period, consensus calls for EPS of -$0.65 on revenue of $182.9 million.