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Braze, Inc.（BRZE）与Ultragenyx Pharmaceutical Inc.（RARE）财务数据对比。点击上方公司名可切换其他公司
Ultragenyx Pharmaceutical Inc.的季度营收约是Braze, Inc.的1.1倍（$207.3M vs $190.8M），Braze, Inc.净利率更高（-18.9% vs -62.0%，领先43.2%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 25.5%），Braze, Inc.自由现金流更多（$19.0M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs 20.7%）
Braze是一家总部位于美国纽约的云软件企业，专注于客户互动平台开发，旗下产品可帮助企业开展多渠道营销活动，为品牌与用户的高效连接提供技术支持。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
BRZE vs RARE — 直观对比
营收规模更大
RARE
是对方的1.1倍
$190.8M
营收增速更快
RARE
高出0.4%
25.5%
净利率更高
BRZE
高出43.2%
-62.0%
自由现金流更多
BRZE
多$119.8M
$-100.8M
两年增速更快
RARE
近两年复合增速
20.7%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $190.8M | $207.3M |
| 净利润 | $-36.0M | $-128.6M |
| 毛利率 | 67.2% | — |
| 营业利润率 | -19.7% | -54.7% |
| 净利率 | -18.9% | -62.0% |
| 营收同比 | 25.5% | 25.9% |
| 净利润同比 | -29.0% | 3.5% |
| 每股收益（稀释后） | $-0.33 | $-1.28 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收BRZERARE
| Q4 25 | $190.8M | $207.3M | ||
| Q3 25 | $180.1M | $159.9M | ||
| Q2 25 | $162.1M | $166.5M | ||
| Q1 25 | $160.4M | $139.3M | ||
| Q4 24 | $152.1M | $164.6M | ||
| Q3 24 | $145.5M | $139.5M | ||
| Q2 24 | $135.5M | $147.0M | ||
| Q1 24 | $131.0M | $108.8M |
净利润BRZERARE
| Q4 25 | $-36.0M | $-128.6M | ||
| Q3 25 | $-27.9M | $-180.4M | ||
| Q2 25 | $-35.8M | $-115.0M | ||
| Q1 25 | $-17.2M | $-151.1M | ||
| Q4 24 | $-27.9M | $-133.2M | ||
| Q3 24 | $-23.0M | $-133.5M | ||
| Q2 24 | $-35.6M | $-131.6M | ||
| Q1 24 | $-28.3M | $-170.7M |
毛利率BRZERARE
| Q4 25 | 67.2% | — | ||
| Q3 25 | 67.7% | — | ||
| Q2 25 | 68.6% | — | ||
| Q1 25 | 69.3% | — | ||
| Q4 24 | 69.8% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 67.1% | — | ||
| Q1 24 | 67.2% | — |
营业利润率BRZERARE
| Q4 25 | -19.7% | -54.7% | ||
| Q3 25 | -21.5% | -106.9% | ||
| Q2 25 | -24.8% | -64.8% | ||
| Q1 25 | -13.4% | -102.6% | ||
| Q4 24 | -21.4% | -74.3% | ||
| Q3 24 | -19.2% | -94.6% | ||
| Q2 24 | -29.6% | -79.1% | ||
| Q1 24 | -24.7% | -151.9% |
净利率BRZERARE
| Q4 25 | -18.9% | -62.0% | ||
| Q3 25 | -15.5% | -112.8% | ||
| Q2 25 | -22.1% | -69.0% | ||
| Q1 25 | -10.7% | -108.5% | ||
| Q4 24 | -18.4% | -80.9% | ||
| Q3 24 | -15.8% | -95.7% | ||
| Q2 24 | -26.3% | -89.5% | ||
| Q1 24 | -21.6% | -156.8% |
每股收益（稀释后）BRZERARE
| Q4 25 | $-0.33 | $-1.28 | ||
| Q3 25 | $-0.26 | $-1.81 | ||
| Q2 25 | $-0.34 | $-1.17 | ||
| Q1 25 | $-0.17 | $-1.57 | ||
| Q4 24 | $-0.27 | $-1.34 | ||
| Q3 24 | $-0.23 | $-1.40 | ||
| Q2 24 | $-0.35 | $-1.52 | ||
| Q1 24 | $-0.28 | $-2.03 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $97.8M | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $602.0M | $-80.0M |
| 总资产 | $1.0B | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资BRZERARE
| Q4 25 | $97.8M | $421.0M | ||
| Q3 25 | $81.0M | $202.5M | ||
| Q2 25 | $231.5M | $176.3M | ||
| Q1 25 | $83.1M | $127.1M | ||
| Q4 24 | $61.3M | $174.0M | ||
| Q3 24 | $79.1M | $150.6M | ||
| Q2 24 | $74.8M | $480.7M | ||
| Q1 24 | $68.2M | $112.3M |
股东权益BRZERARE
| Q4 25 | $602.0M | $-80.0M | ||
| Q3 25 | $598.9M | $9.2M | ||
| Q2 25 | $474.4M | $151.3M | ||
| Q1 25 | $474.9M | $144.2M | ||
| Q4 24 | $458.1M | $255.0M | ||
| Q3 24 | $453.7M | $346.8M | ||
| Q2 24 | $436.1M | $432.4M | ||
| Q1 24 | $444.2M | $140.3M |
总资产BRZERARE
| Q4 25 | $1.0B | $1.5B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $889.1M | $1.3B | ||
| Q1 25 | $871.0M | $1.3B | ||
| Q4 24 | $842.0M | $1.5B | ||
| Q3 24 | $825.6M | $1.5B | ||
| Q2 24 | $816.1M | $1.6B | ||
| Q1 24 | $810.9M | $1.3B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $21.0M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $19.0M | $-100.8M |
| 自由现金流率自由现金流/营收 | 10.0% | -48.6% |
| 资本支出强度资本支出/营收 | 1.0% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $63.3M | $-472.0M |
8季度趋势，按日历期对齐
经营现金流BRZERARE
| Q4 25 | $21.0M | $-99.8M | ||
| Q3 25 | $7.0M | $-91.4M | ||
| Q2 25 | $24.1M | $-108.3M | ||
| Q1 25 | $17.1M | $-166.5M | ||
| Q4 24 | $-11.4M | $-79.3M | ||
| Q3 24 | $11.6M | $-67.0M | ||
| Q2 24 | $19.4M | $-77.0M | ||
| Q1 24 | $3.8M | $-190.7M |
自由现金流BRZERARE
| Q4 25 | $19.0M | $-100.8M | ||
| Q3 25 | $4.3M | $-92.7M | ||
| Q2 25 | $23.9M | $-110.7M | ||
| Q1 25 | $16.0M | $-167.8M | ||
| Q4 24 | $-13.3M | $-79.5M | ||
| Q3 24 | $8.3M | $-68.6M | ||
| Q2 24 | $12.5M | $-79.0M | ||
| Q1 24 | $-2.5M | $-193.9M |
自由现金流率BRZERARE
| Q4 25 | 10.0% | -48.6% | ||
| Q3 25 | 2.4% | -58.0% | ||
| Q2 25 | 14.8% | -66.5% | ||
| Q1 25 | 10.0% | -120.5% | ||
| Q4 24 | -8.8% | -48.3% | ||
| Q3 24 | 5.7% | -49.2% | ||
| Q2 24 | 9.2% | -53.7% | ||
| Q1 24 | -1.9% | -178.2% |
资本支出强度BRZERARE
| Q4 25 | 1.0% | 0.5% | ||
| Q3 25 | 1.4% | 0.8% | ||
| Q2 25 | 0.1% | 1.5% | ||
| Q1 25 | 0.7% | 1.0% | ||
| Q4 24 | 1.3% | 0.1% | ||
| Q3 24 | 2.3% | 1.2% | ||
| Q2 24 | 5.1% | 1.4% | ||
| Q1 24 | 4.8% | 3.0% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
BRZE
| Subscription Revenue | $181.7M | 95% |
| Professional Services Revenue | $9.2M | 5% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
