URGN

MKT CAP:$1B

UroGen Pharma Ltd.

Market Cap

$1B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Healthcare·Biotechnology·🇺🇸·NASDAQ

Stock Price

$24.11+$1.40 (+6.16%)

Apr 24, 2026

Company Details

UroGen Pharma Ltd., a biotechnology company, engages in the development and commercialization novel solutions for specialty cancers and urothelial diseases. It offers RTGel, a polymeric biocompatible and reverse thermal gelation hydrogel to...

CEO

Elizabeth A. Barrett

IPO Date

May 4, 2017

Website

www.urogen.com

Key Metrics TTM

Revenue

$110M

+21.4% YoY

Net Income

-$153M

EPS (Diluted)

-$3.20

Free Cash Flow

-$163M

Revenue / Share

$2.23

Gross Margin

88.7%

Operating Margin

-113.7%

Net Margin

-139.8%

FCF Margin

-148.2%

P/S

10.6x

P/E

—

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Mar 2, 2026

$110M+21.4%EPS -$3.19

Q4 2025

Mar 2, 2026

$38M+54.0%EPS -$0.54

Q3 2025

Nov 6, 2025

$27M+9.0%EPS -$0.69

Q2 2025

Aug 7, 2025

$24M+10.8%EPS -$1.05

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$16M	$15M	-$20M
Q1 22	$14M	$12M	-$22M
Q2 22	$17M	$15M	-$19M
Q3 22	$16M	$14M	-$18M
Q1 23	$17M	$15M	-$22M
Q2 23	$21M	$19M	-$15M
Q3 23	$21M	$18M	-$14M
Q4 23	$24M	$21M	-$15M
Q1 24	$19M	$17M	-$26M
Q2 24	$22M	$20M	-$26M
Q3 24	$25M	$23M	-$18M
Q4 24	$25M	$22M	-$28M
Q1 25	$20M	$18M	-$37M
Q2 25	$24M	$21M	-$41M
Q3 25	$27M	$24M	-$27M
Q4 25	$38M	$35M	-$19M

Valuation

Quarter	P/S	P/E
Q4 21	24.2x	—
Q1 22	21.5x	—
Q2 22	20.2x	—
Q3 22	18.6x	—
Q1 23	18.3x	—
Q2 23	16.4x	—
Q3 23	15.5x	—
Q4 23	14.1x	—
Q1 24	13.8x	—
Q2 24	13.7x	—
Q3 24	13.0x	—
Q4 24	12.9x	—
Q1 25	12.7x	—
Q2 25	12.3x	—
Q3 25	12.1x	—
Q4 25	10.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	-$20M	-$20M
Q1 22	-$24M	-$24M
Q2 22	-$23M	-$23M
Q3 22	-$17M	-$17M
Q1 23	-$26M	-$26M
Q2 23	-$20M	-$20M
Q3 23	-$17M	-$17M
Q4 23	-$13M	-$13M
Q1 24	-$32M	-$32M
Q2 24	-$24M	-$24M
Q3 24	-$28M	-$28M
Q4 24	-$14M	-$14M
Q1 25	-$42M	-$42M
Q2 25	-$40M	-$40M
Q3 25	-$42M	-$42M
Q4 25	-$38M	-$38M

Capital Expenditures

Quarter	CapEx
Q4 21	$202.0K
Q1 22	$25.0K
Q2 22	$61.0K
Q3 22	$147.7K
Q1 23	$23.0K
Q2 23	$15.0K
Q3 23	$100.0K
Q4 23	$53.5K
Q1 24	$0
Q2 24	$84.0K
Q3 24	$96.0K
Q4 24	$115.0K
Q1 25	$44.0K
Q2 25	$141.0K
Q3 25	$87.0K
Q4 25	$17.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+103.0%	+2.5%
Q1 22	+81.2%	+5.7%
Q2 22	+27.4%	-1.5%
Q3 22	+41.8%	-1.7%
Q1 23	+6.3%	+8.7%
Q2 23	+55.8%	+2.8%
Q3 23	+25.6%	-2.7%
Q4 23	+46.2%	+11.6%
Q1 24	+9.2%	+13.5%
Q2 24	+3.4%	+30.6%
Q3 24	+20.9%	+24.4%
Q4 24	+4.4%	+36.9%
Q1 25	+7.8%	+28.4%
Q2 25	+10.8%	+37.7%
Q3 25	+9.0%	+28.3%
Q4 25	+54.0%	+9.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$5M	33.1%
Q1 22	$3M	21.7%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q1 23	$2M	13.3%
Q2 23	$2M	10.5%
Q3 23	$2M	10.7%
Q4 23	$3M	11.1%
Q1 24	$3M	14.7%
Q2 24	$4M	16.3%
Q3 24	$3M	13.8%
Q4 24	$3M	13.4%
Q1 25	$3M	15.2%
Q2 25	$3M	11.3%
Q3 25	$3M	11.0%
Q4 25	$3M	8.3%

OpEx Breakdown

Quarter	R&D	SG&A
Q4 21	$13M	$21M
Q1 22	$13M	$21M
Q2 22	$13M	$21M
Q3 22	$13M	$19M
Q1 23	$12M	$24M
Q2 23	$12M	$22M
Q3 23	$10M	$22M
Q4 23	$11M	$25M
Q1 24	$15M	$27M
Q2 24	$15M	$30M
Q3 24	$11M	$29M
Q4 24	$15M	—
Q1 25	$20M	$35M
Q2 25	$19M	$43M
Q3 25	$14M	$38M
Q4 25	$14M	$39M

Revenue Segments

Quarter	Jelmyto
Q4 21	$16M
Q1 22	$14M
Q2 22	$17M
Q3 22	$16M
Q1 23	$17M
Q2 23	$21M
Q1 24	$19M
Q2 24	$22M
Q3 24	$25M
Q1 25	$20M
Q2 25	$24M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$105M	$31M	$136M
Q2 22	$81M	$31M	$112M
Q3 22	$29M	$67M	$96M
Q4 22	$55M	$45M	$100M
Q1 23	$37M	$29M	$65M
Q2 23	$20M	$27M	$47M
Q3 23	$119M	$28M	$147M
Q4 23	$96M	$42M	$138M
Q1 24	$132M	$33M	$165M
Q2 24	$220M	$21M	$241M
Q3 24	$125M	$125M	$250M
Q4 24	$172M	$65M	$237M
Q1 25	$104M	$92M	$196M
Q2 25	$93M	$64M	$157M
Q3 25	$90M	$37M	$127M
Q4 25	$111M	$10M	$120M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	22M	+0.2%	+1.3%
Q1 22	23M	+0.9%	+1.7%
Q2 22	23M	+0.3%	+1.7%
Q3 22	23M	+0.4%	+1.9%
Q1 23	23M	+2.1%	+3.8%
Q2 23	23M	+0.8%	+3.7%
Q3 23	32M	+37.7%	+42.3%
Q4 23	36M	+11.9%	+58.6%
Q1 24	33M	-7.7%	+43.4%
Q2 24	37M	+10.3%	+56.9%
Q3 24	43M	+17.1%	+33.4%
Q4 24	47M	+9.1%	+30.1%
Q1 25	47M	+0.8%	+42.1%
Q2 25	48M	+0.7%	+29.7%
Q3 25	48M	+0.7%	+11.5%
Q4 25	49M	+2.4%	+4.7%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	$82.9K	195
Q1 22	$69.6K	195
Q2 22	$85.1K	195
Q3 22	$82.5K	195
Q1 23	$86.0K	200
Q2 23	$105.7K	200
Q3 23	$104.3K	200
Q4 23	$117.1K	201
Q1 24	$93.4K	201
Q2 24	$108.7K	201
Q3 24	$125.4K	201
Q4 24	$104.5K	235
Q1 25	$86.2K	235
Q2 25	$103.0K	235
Q3 25	$116.9K	235
Q4 25	$189	200K

Revenue / Employee