UroGen Pharma (URGN) Q3 FY2026 earnings: revenue $89 million, up 223.9% on the year

UroGen Pharma Ltd. (URGN) reported revenue of $89 million for Q3 FY2026, the quarter ended 30 September 2026, up 223.9% on the same quarter a year earlier. Net income was -$1 million, and diluted earnings per share $-0.03. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.

Revenue

$89 million

+223.9% on the year · +22.8% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

9.4%

-99.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$1 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.03

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 lowered, 1 new, 2 kept.

Total revenue rose to $89.0 million: Total revenue was $89.0 million, against $27.5 million in the third quarter of 2025. The company attributes the increase to the continued ZUSDURI launch.
Net loss narrowed to $1.5 million: Net loss was $1.5 million, or $0.03 per share, compared with $33.3 million, or $0.69 per share, in the third quarter of 2025.
ZUSDURI revenue up 35% in quarter: ZUSDURI net product revenue was $68.0 million, 35% above the second quarter of 2026, which was $50.4 million as reported in the prior release.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	89.0	72.5	27.5	+22.8%	+223.9%
Cost of revenue	7.5	6.6	3.3	+14.2%	+128.9%
Gross profit	81.5	65.9	24.2	+23.7%	+236.7%
Gross margin	91.6%	90.9%	88.1%
Research and development	26.0	17.3	14.0	+49.8%	+85.4%
Selling, general and administrative	47.2	48.4	37.6	-2.5%	+25.6%
Operating income	8.3	0.1	-27.4	+7,403.6%
Operating margin	9.4%	0.2%	-99.7%
Pre-tax income	-0.4	-8.7	-34.4
Income tax	1.0	5.6	-1.1	-82.0%
Net income	-1.5	-14.4	-33.3
Net margin	-1.6%	-19.8%	-121.3%
Diluted EPS	-$0.03 basic	-$0.28 basic	-$0.69 basic

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-15.2	-33.0	-42.3
Capital expenditure	0.1	0.1	0.1	+20.0%	-17.2%
Free cash flow	-15.3	-33.1	-42.4
Free cash flow margin	-17.2%	-45.6%	-154.1%
Cash from investing	19.9	1.7	31.4	+1,086.7%	-36.8%
Cash from financing	1.8	0.5	8.3	+255.6%	-78.5%
Depreciation and amortisation	0.1	0.1	0.1	0.0%	0.0%
Share-based compensation	6.2	5.3	3.0	+17.2%	+106.3%
Diluted shares, weighted	51m	50m	48m	+0.4%	+5.2%
Shares outstanding at period end	49m	49m	47m	+0.3%	+4.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	-125	-132	-115
Debt	200	200	122	0.0%	+63.8%
Operating lease liabilities	2.2	2.4	2.7	-7.5%	-18.3%
Finance lease liabilities	2.6	2.9	3.6	-12.0%	-27.5%
Other liabilities	192	180	172	+7.0%	+11.7%
Total liabilities and equity	272	253	185	+7.6%	+46.9%
Fixed assets	0.6	0.6	0.7	-1.5%	-15.4%
Investments	6.4	30.2	64.2	-78.9%	-90.1%
Cash and equivalents	85.6	79.1	90.0	+8.1%	-5.0%
Receivables	117	88.8	19.7	+32.1%	+495.3%
Inventory	25.1	24.6	8.3	+2.3%	+201.5%
Other assets	36.9	29.4	2.1	+25.8%	+1,660.5%
Total assets	272	253	185	+7.6%	+46.9%

Questions

What was UroGen Pharma's revenue in Q3 FY2026?

UroGen Pharma (URGN) reported revenue of $89 million for Q3 FY2026, the quarter ended 30 September 2026, up 223.9% on the same quarter a year earlier.

How much did UroGen Pharma earn in Q3 FY2026?

Net loss for Q3 FY2026 was $1 million, and the diluted loss per share $0.03.

When did UroGen Pharma report Q3 FY2026 results?

UroGen Pharma filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	16.2	13.6	16.6	16.1	18.1	17.2	21.1	20.9	23.5	18.8	21.8	25.2	24.6	20.3	24.2	27.5	37.8	51.0	72.5	89.0
Cost of revenue	1.6	1.5	1.8	2.0	2.3	2.3	2.4	2.4	2.3	1.7	2.2	2.5	2.5	2.3	3.5	3.3	3.3	4.1	6.6	7.5
Gross profit	14.6	12.0	14.8	14.1	15.8	14.9	18.7	18.5	21.2	17.1	19.6	22.8	22.1	17.9	20.7	24.2	34.5	46.8	65.9	81.5
Gross margin	90%	89%	89%	87%	87%	87%	88%	89%	90%	91%	90%	90%	90%	88%	85%	88%	91%	92%	91%	92%
R&D	13.1	12.7	12.6	13.1	14.5	12.5	11.6	10.2	11.3	15.5	15.4	11.4	14.9	19.9	18.9	14.0	14.3	15.6	17.3	26.0
SG&A	21.4	21.3	20.8	19.1	21.6	24.5	22.5	21.8	24.6	27.3	30.1	28.9	34.9	35.0	43.2	37.6	39.3	51.5	48.4	47.2
Operating income	-19.9	-22.0	-18.7	-18.1	-20.3	-22.0	-15.4	-13.5	-14.6	-25.7	-25.8	-17.5	-27.7	-36.9	-41.4	-27.4	-19.1	-20.3	0.1	8.3
Operating margin	-123%	-162%	-113%	-112%	-112%	-128%	-73%	-65%	-62%	-137%	-118%	-70%	-113%	-182%	-171%	-100%	-51%	-40%	0%	9%
Pre-tax income	-27.3	-28.1	-26.7	-25.1	-28.2	-30.2	-24.1	-21.9	-22.2	-32.2	-33.4	-23.6	-34.9	-43.5	-48.9	-34.4	-26.6	-28.3	-8.7	-0.4
Net income	-28.5	-28.4	-26.7	-25.8	-28.9	-30.2	-24.1	-21.9	-26.0	-32.3	-33.4	-23.7	-37.5	-43.8	-49.9	-33.3	-26.4	-23.6	-14.4	-1.5
Net margin	-176%	-209%	-161%	-160%	-160%	-176%	-114%	-105%	-111%	-172%	-153%	-94%	-153%	-216%	-206%	-121%	-70%	-46%	-20%	-2%
Diluted EPS	-$1.27	-$1.25 basic	-$1.18 basic	-$1.13 basic	-$1.25	-$1.30 basic	-$1.03 basic	-$0.68 basic	-$0.72 basic	-$0.97 basic	-$0.91 basic	-$0.55 basic	-$0.80 basic	-$0.92 basic	-$1.05 basic	-$0.69 basic	-$0.54	-$0.47 basic	-$0.28 basic	-$0.03 basic
Operating cash flow	-20.1	-24.0	-24.2	-17.6	-21.8	-25.8	-20.3	-17.3	-13.0	-31.7	-23.7	-27.7	-13.6	-42.0	-39.8	-42.3	-38.3	-45.3	-33.0	-15.2
Capital expenditure	0.2	0.0	0.1	0.2	0.0	0.0	0.0	0.1	0.1	0.0	0.1	0.1	0.1	0.0	0.1	0.1	0.0	0.1	0.1	0.1
Free cash flow	-20.3	-24.0	-24.3	-17.8	-21.8	-25.8	-20.3	-17.4	-13.1	-31.7	-23.8	-27.8	-13.7	-42.1	-40.0	-42.4	-38.3	-45.4	-33.1	-15.3
Shares outstanding	22m	23m	23m	23m	23m	23m	23m	31m	32m	36m	41m	42m	42m	46m	46m	47m	48m	49m	49m	49m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.