Ultragenyx Pharmaceutical Inc. (RARE) Revenue History
Annual and quarterly revenue from 2011 to present
RARE Revenue Over Time (2011–2025)
RARE Revenue Growth History
9 of 9 years with positive growth- FY2011 revenue growth
- N/A
- FY2012 revenue growth
- N/A
- FY2013 revenue growth
- N/A
- FY2014 revenue growth
- N/A
- FY2015 revenue growth
- N/A
- FY2016 revenue growth
- N/A
- FY2017 revenue growth
- +1863.9%
- FY2018 revenue growth
- +1871.5%
- FY2019 revenue growth
- +101.4%
- FY2020 revenue growth
- +161.3%
- FY2021 revenue growth
- +29.7%
- FY2022 revenue growth
- +3.4%
- FY2023 revenue growth
- +19.5%
- FY2024 revenue growth
- +29.0%
- FY2025 revenue growth
- +20.1%
| Quarter | Revenue | YoY |
|---|---|---|
| Q1 2026 | $136.0M | -2.4% |
| Q4 2025 | $207.0M | +25.5% |
| Q3 2025 | $159.9M | +14.7% |
| Q2 2025 | $166.5M | +13.2% |
| Q1 2025 | $139.3M | +28.0% |
| Q4 2024 | $164.9M | +29.4% |
| Q3 2024 | $139.5M | +42.3% |
| Q2 2024 | $147.0M | +35.7% |
Multi-year avg. share of annual revenue by fiscal quarter
Revenue Breakdown (FY 2025)
RARE's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
RARE Revenue Analysis (2011–2025)
Current Revenue & Growth
As of June 21, 2026, Ultragenyx Pharmaceutical Inc. (RARE) generated trailing twelve-month (TTM) revenue of $669.4 million, reflecting slight decline in growth of -2.4% year-over-year. The most recent quarter (Q1 2026) recorded $136.0 million in revenue, down 34.3% sequentially.
Historical Growth Trajectory
RARE's 5-year compound annual growth rate (CAGR) stands at +19.9%, indicating consistent double-digit revenue growth. The 3-year CAGR of +22.8% exceeds the 5-year average, indicating an acceleration in the most recent period. Ultragenyx Pharmaceutical Inc.'s highest annual revenue of $673.0 million was recorded in 2025, an all-time high.
Revenue by Segment
RARE's revenue is primarily driven by Product (55%), and Royalty (45%). With over half of revenue concentrated in Product, the company has a focused business model while developing other growth vectors.
Peer Comparison
Compared to Healthcare sector peers — including BMRN (+9.9% YoY), SRPT (-2.2% YoY), and IONS (+47.5% YoY) — RARE has underperformed the peer group in revenue growth. Compare RARE vs BMRN →
RARE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| RARECurrent | $669M | -2.4% | +19.9% | -79.5% | |
 BMRN | $3.2B | +9.9% | +11.6% | 16.6% | |
 SRPT | $2.2B | -2.2% | +32.4% | -29.9% | |
 IONS | $944M | +47.5% | +5.3% | -40.5% | |
 ACAD | $1.1B | +9.9% | +19.4% | 9.8% | |
 FOLD | $634M | +20.0% | +19.4% | 5.4% |
RARE Historical Revenue Data (2011–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $673.0M | +20.1% | $564.0M | 83.8% | $-535,000,000 | -79.5% |
| 2024 | $560.2M | +29.0% | $483.5M | 86.3% | $-535,973,000 | -95.7% |
| 2023 | $434.2M | +19.5% | $389.0M | 89.6% | $-569,208,000 | -131.1% |
| 2022 | $363.3M | +3.4% | $335.0M | 92.2% | $-648,919,000 | -178.6% |
| 2021 | $351.4M | +29.7% | $335.4M | 95.4% | $-381,737,000 | -108.6% |
| 2020 | $271.0M | +161.3% | $264.9M | 97.7% | $-330,116,000 | -121.8% |
| 2019 | $103.7M | +101.4% | $94.7M | 91.3% | $-424,173,000 | -409.0% |
| 2018 | $51.5M | +1871.5% | $50.3M | 97.8% | $-371,373,000 | -721.2% |
| 2017 | $2.6M | +1863.9% | $2.6M | 100.0% | $-328,942,000 | -12593.5% |
| 2016 | $133K | - | $-183,071,000 | -137647.4% | $-248,007,000 | -186471.4% |
| 2015 | $0 | - | $-1,384,000 | - | $-147,738,000 | - |
| 2014 | $0 | - | $0 | - | $-56,778,000 | - |
| 2013 | $0 | - | $0 | - | $-32,280,000 | - |
| 2012 | $0 | - | $0 | - | $-15,985,000 | - |
| 2011 | $0 | - | $0 | - | $-6,561,000 | - |
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
15+ years return with dividends reinvested.
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Peer Comparison
Compare growth, multiples, and margins vs sector.
RARE — Frequently Asked Questions
Quick answers to the most common questions about buying RARE stock.
Is RARE's revenue growth accelerating or slowing?
RARE revenue growth is slowing. TTM revenue is $669M, up -2.4% year-over-year — below the 5-year CAGR of +19.9%. The deceleration suggests maturing end-markets or increased competition.
What is RARE's revenue history from 2011 to 2026?
Ultragenyx Pharmaceutical Inc. (RARE) revenue history spans 2011 to 2026. TTM revenue as of 2026 is $669M, growing at -2.4% YoY. The 5-year CAGR is +19.9%. Complete annual and quarterly revenue figures are available on this page, including gross profit, operating income, and margin trends.
What is RARE's long-term revenue growth rate (CAGR)?
Ultragenyx Pharmaceutical Inc.'s 5-year revenue CAGR of +19.9% reflects the variable nature of its business expansion. As of 2026, the current YoY growth rate of -2.4% is below this long-term average. CAGR is the most reliable measure of sustained revenue momentum for RARE.
Why does RARE's quarterly revenue fluctuate?
RARE quarterly revenue can fluctuate significantly between periods. A quarter-over-quarter (QoQ) change does not always indicate a trend; comparing the same quarter year-over-year (YoY) is a more reliable signal for underlying growth. Ultragenyx Pharmaceutical Inc.'s revenue data from 2011 to 2026 shows full historical quarterly detail on this page.
How is RARE's revenue distributed by segment?
RARE reports revenue broken down by product line and geographic region. The segment breakdown on this page shows which business units contribute the most to total revenue as of the latest fiscal year. Concentration in a single segment above 50% indicates category dependence, while a diversified mix signals more resilient revenue streams.
How does RARE's revenue compare to industry peers?
Ultragenyx Pharmaceutical Inc. (RARE) with TTM revenue of $669M and -2.4% YoY growth can be benchmarked against sector peers using the comparison table on this page. Revenue growth relative to peers indicates market share gains or losses. The peer section shows TTM revenue, YoY growth, and operating margin for direct comparisons.