AKBA on Nasdaq
Akebia Therapeutics, Inc.
$0.71 up 0.00 (0.56%)Price as of Oct 15, 2026 at 17:33 UTC
Last updated Oct 16, 2026.
Overview
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Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
9.9%Operating margin4
-2.3%Net margin4
47.5%Revenue growth, 20254
-16.4%Return on equity4
1.48×Debt to equity4
$67.7MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Auryxia brought in 77% of the revenue Akebia Therapeutics, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Auryxia | $170.3M | $152.2M | $181.5M |
| Vafseo | $0 | $0 | $45.8M |
| License Collaboration And Other Revenue | $24.3M | $8.0M | $8.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue17¢$39.5M
- Research and development26¢$62.4M
- Selling, general and admin46¢$107.5M
- Other costs11¢$25.3M
- Income tax1¢$1.6M
Out of $236.2M in revenue.4 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending0¢$291.0K
- Kept or used elsewhere100¢$67.7M
Out of $68.0M of cash from operations.4
Financial statements
Every line of the income statement in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Total revenues | $236.2M | $160.2M | $194.6M |
| Cost of product and other revenue | $39.5M | $27.1M | $38.1M |
| Amortization of intangible asset | $0 | $36.0M | $36.0M |
| Total cost of goods sold | $39.5M | $63.2M | $74.1M |
| Research and development | $62.4M | $37.7M | $63.1M |
| Selling, general and administrative | $107.5M | $106.5M | $100.2M |
| License | $3.4M | $3.2M | $3.2M |
| Restructuring | $0 | $58.0K | $181.0K |
| Total operating expenses | $173.2M | $147.5M | $166.7M |
| Income (loss) from operations | $23.5M | -$50.5M | -$46.3M |
| Interest expense | -$24.2M | -$18.2M | -$6.0M |
| Other income | $58.0K | $94.0K | $887.0K |
| Change in fair value of warrant liability | -$3.1M | -$330.0K | $0 |
| Loss on extinguishment of debt | $0 | -$517.0K | $0 |
| Loss on termination of lease | $0 | $0 | -$524.0K |
| Loss before income taxes | -$3.7M | -$69.4M | -$51.9M |
| Income tax expense | -$1.6M | $0 | $0 |
| Net loss | -$5.3M | -$69.4M | -$51.9M |
| Comprehensive loss | -$5.3M | -$69.4M | -$51.9M |
| Basic (in dollars per share) | -$0.02 | -$0.33 | -$0.28 |
| Diluted (in dollars per share) | -$0.02 | -$0.33 | -$0.28 |
| Basic (in shares) | 257.2M shares | 210.9M shares | 187.5M shares |
| Diluted (in shares) | 257.2M shares | 210.9M shares | 187.5M shares |
Every line of the balance sheet in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Cash and cash equivalents | $184.8M | $51.9M | $42.9M |
| Inventories | $15.6M | $16.2M | |
| Accounts receivable, net | $47.0M | $34.4M | |
| Prepaid expenses and other current assets | $5.5M | $11.3M | |
| Total current assets | $253.0M | $113.8M | |
| Property and equipment, net | $1.2M | $2.2M | |
| Operating right-of-use assets | $3.7M | $8.2M | |
| Goodwill | $59.0M | $59.0M | |
| Other long-term assets | $59.7M | $37.4M | |
| Total assets | $376.6M | $220.7M | |
| Accounts payable | $21.2M | $15.2M | |
| Accrued expenses and other current liabilities | $121.7M | $63.5M | |
| Short-term deferred revenue | $2.7M | $0 | |
| Working Capital Fund liability, current portion | $17.4M | $2.3M | |
| Total current liabilities | $162.9M | $80.9M | |
| Long-term operating lease liabilities | $0 | $3.5M | |
| Long-term debt, net | $48.2M | $38.7M | |
| Liability related to settlement royalties, net of current portion | $54.8M | $46.7M | |
| Liability related to sale of future royalties, net of current portion | $50.6M | $52.1M | |
| Working Capital Fund liability, net of current portion | $22.6M | $38.0M | |
| Warrant liability | $3.0M | $5.2M | |
| Other long-term liabilities | $1.8M | $4.7M | |
| Total liabilities | $344.0M | $269.9M | |
| Preferred stock $0.00001 par value, 25,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | |
| Common stock: $0.00001 par value; 350,000,000 shares authorized at December 31, 2025 and 2024; 265,424,818 and 224,848,992 shares issued and outstanding at December 31, 2025 and 2024, respectively | $2.0K | $2.0K | |
| Additional paid-in capital | $1.7B | $1.6B | |
| Accumulated other comprehensive income | $6.0K | $6.0K | |
| Accumulated deficit | -$1.7B | -$1.7B | |
| Total stockholders' equity (deficit) | $32.6M | -$49.2M | -$30.6M |
| Total liabilities and stockholders' equity (deficit) | $376.6M | $220.7M | |
| Preferred stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Preferred stock, authorized (in shares) | 25.0M shares | 25.0M shares | |
| Preferred stock, issued (in shares) | 0 shares | 0 shares | |
| Preferred stock, outstanding (in shares) | 0 shares | 0 shares | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, authorized (in shares) | 350.0M shares | 350.0M shares | |
| Common stock, issued (in shares) | 265.4M shares | 224.8M shares | |
| Common stock, outstanding (in shares) | 265.4M shares | 224.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow in the latest annual report, as filed.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$5.3M | -$69.4M | -$51.9M |
| Depreciation | $1.3M | $1.5M | $1.6M |
| Amortization of intangible asset | $0 | $36.0M | $36.0M |
| Bad debt expense | $1.5M | $876.0K | $0 |
| Change in fair value of warrant liability | $3.1M | $330.0K | $0 |
| Non-cash royalty revenue related to sale of future royalties | -$1.8M | -$1.9M | -$2.0M |
| Non-cash research and development expense | $0 | $0 | $782.0K |
| Non-cash interest expense | $21.8M | $13.1M | -$2.2M |
| Non-cash operating lease expense | $4.6M | $4.2M | $4.2M |
| Non-cash loss on extinguishment of debt | $0 | $294.0K | $0 |
| Non-cash write-off on termination of lease | $0 | $0 | -$825.0K |
| Charge for purchase of IPR&D asset | $12.8M | $0 | $0 |
| Write-down of inventory | $2.5M | $4.2M | $1.6M |
| Change in excess inventory purchase commitments | $0 | $2.1M | $1.5M |
| Stock-based compensation expense | $11.3M | $7.8M | $9.3M |
| Gain on the sale of property and equipment | -$172.0K | $0 | $0 |
| Change in fair value of embedded debt derivative | $0 | $0 | -$760.0K |
| Accounts receivable | -$14.1M | $4.0M | $994.0K |
| Inventory | -$23.1M | -$28.4M | -$2.5M |
| Prepaid expenses and other current assets | $7.6M | $8.9M | $11.8M |
| Other long-term assets | -$2.6M | $622.0K | -$1.4M |
| Accounts payable | $3.1M | -$1.4M | -$5.2M |
| Accrued expense and other current liabilities | $48.5M | -$12.8M | -$10.0M |
| Operating lease liabilities | -$5.4M | -$4.5M | -$5.0M |
| Deferred revenue | $2.7M | $0 | -$3.7M |
| Other long-term liabilities | -$112.0K | -$6.2M | -$5.7M |
| Net cash provided by (used in) operating activities | $68.0M | -$40.7M | -$23.4M |
| Purchase of equipment | -$291.0K | -$33.0K | $0 |
| Proceeds from the sale of property and equipment | $172.0K | $0 | $0 |
| Purchase of IPR&D asset, including transaction costs | -$7.8M | $0 | $0 |
| Net cash used in investing activities | -$7.9M | -$33.0K | $0 |
| Proceeds from the issuance of debt | $10.0M | $45.0M | $0 |
| Payments of issuance costs related to BlackRock Credit Agreement | -$63.0K | -$1.3M | $0 |
| Proceeds from the issuance of common stock, net of issuance costs | $66.4M | $42.5M | $6.7M |
| Proceeds from the sale of stock under employee stock purchase plan | $230.0K | $154.0K | $85.0K |
| Proceeds from the exercise of common stock options | $1.7M | $385.0K | $1.0K |
| Repayment of WCF liability | -$1.1M | $0 | $0 |
| Repayment of liability related to settlement royalties | -$3.8M | $0 | $0 |
| Repayment of term debt | -$462.0K | -$37.1M | -$32.0M |
| Net cash provided by (used in) financing activities | $72.9M | $49.7M | -$25.2M |
| Increase (decrease) in cash, cash equivalents and restricted cash | $133.0M | $9.0M | -$48.6M |
| Issuance of warrants in connection with BlackRock Credit Agreement | $2.2M | $4.8M | $0 |
| Cashless exercise of warrants in connection with BlackRock Credit Agreement | $7.5M | $0 | $0 |
| Purchase of IPR&D asset included in accrued expenses and other current liabilities | $5.0M | $0 | $0 |
| Cash paid for interest | $6.1M | $5.0M | $6.1M |
Recent filings
- Oct 14, 20268-K
- Aug 10, 20264 PRIMARY DOCUMENT
- Aug 5, 20268-K
- Aug 5, 202610-Q
- Aug 5, 2026S-8
- Jul 1, 20264 PRIMARY DOCUMENT
- Jun 30, 20268-K
- Jun 29, 2026144
- Jun 22, 20264 PRIMARY DOCUMENT
- Jun 22, 20264 PRIMARY DOCUMENT
- Jun 22, 20268-K
- Jun 22, 20264 PRIMARY DOCUMENT
- Jun 22, 20264 PRIMARY DOCUMENT
- Jun 22, 20264 PRIMARY DOCUMENT
- Jun 22, 20264 PRIMARY DOCUMENT
Every filing from the last three years, summarized. The full record is on SEC EDGAR.1
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 2Yahoo FinanceAKBA quote
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