Ultragenyx Pharmaceutical Inc

For the period ended Dec 31, 2024. Filed Feb 19, 2025.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 19, 2025

RARE$16.14-1.6%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2024	2023	2022
Operating activities:
Net loss	$(569,183)	$(606,639)	$(707,421)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	158,030	135,227	130,377
Acquired in-process research and development	—	—	75,033
Amortization of premium (discount) on marketable debt securities, net	(12,624)	(12,842)	2,699
Depreciation and amortization	35,543	26,006	18,220
Change in fair value of equity investments	1,115	(397)	19,299
Non-cash collaboration royalty revenue	(100,539)	(69,364)	(21,692)
Non-cash interest expense on liabilities for sales of future royalties	63,041	66,004	43,015
Other	(3,489)	2,300	(230)
Changes in operating assets and liabilities:
Accounts receivable	(33,598)	(22,778)	(12,068)
Inventory	(11,207)	(6,930)	(9,701)
Prepaid expenses and other assets	11,731	15,325	3,798
Accounts payable, accrued, and other liabilities	46,992	901	79,845
Deferred tax liabilities	—	(1,619)	(1,639)
Net cash used in operating activities	(414,188)	(474,806)	(380,465)
Investing activities:
Purchase of property, plant, and equipment	(7,491)	(44,267)	(116,123)
Acquisition, net of cash acquired	—	—	(75,025)
Purchase of marketable debt securities	(408,613)	(526,382)	(614,735)
Proceeds from sale of marketable debt securities	3,247	50,672	84,275
Proceeds from sale of equity investments	—	—	10,094
Proceeds from maturities of marketable debt securities	410,025	695,525	450,706
Payment for intangible asset	(12,500)	(2,500)	(30,000)
Other	(2,436)	(5,048)	(844)
Net cash (used in) provided by investing activities	(17,768)	168,000	(291,652)
Financing activities:
Proceeds from the sale of future royalties, net	—	—	490,950
Proceeds from the issuance of common stock and pre-funded warrants in connection with underwritten public offerings, net of issuance costs	380,983	326,456	—
Proceeds from the issuance of common stock in connection with at-the-market offering, net of issuances costs	—	53,299	—
Proceeds from the issuance of common stock from exercise of equity plan awards, net	11,258	8,415	10,813
Proceeds from issuance of equity interest in noncontrolling interest	7,000	—	—
Other	—	(28)	(555)
Net cash provided by financing activities	399,241	388,142	501,208
Effect of exchange rate changes on cash	(2,525)	462	(1,075)
Net (decrease) increase in cash, cash equivalents, and restricted cash	(35,240)	81,798	(171,984)
Cash, cash equivalents, and restricted cash at beginning of year	219,399	137,601	309,585
Cash, cash equivalents, and restricted cash at end of year	$184,159	$219,399	$137,601

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Year Ended December 31,
	2024	2023	2022
Supplemental disclosures of non-cash investing and financing information:
Acquired lease liabilities arising from obtaining right-of-use assets and property, plant, and equipment	$9,609	$22,162	$1,168
Costs of property, plant and equipment included in accounts payable, accrued, and other liabilities	$693	$1,577	$17,963
Non-cash interest expense on liabilities for sales of future royalties capitalized during the year into ending property, plant and equipment	$—	$9,431	$11,380

Notes to Consolidated Financial Statements

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.