ARDX on Nasdaq
Ardelyx (United States)
Company in Fremont, United States.1
Price unavailable
Last updated Oct 16, 2026.
Overview
2007Founded1
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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
-10.1%Operating margin4
-15.1%Net margin4
22.1%Revenue growth, 20254
-36.9%Return on equity4
1.21×Debt to equity4
-$44.0MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product, IBSRELA brought in 67% of the revenue Ardelyx (United States) broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Product, IBSRELA | $80.1M | $158.3M | $274.2M |
| Product, XPHOZAH | $2.5M | $160.9M | $103.6M |
| Product Supply Revenue | $6.1M | $11.6M | $15.9M |
| Non-Cash Royalty Related To Sale of Future Royalties | $0 | $2.7M | $8.5M |
| License | $35.8M | $78.0K | $5.1M |
Regions
United States brought in 93% of the revenue Ardelyx (United States) broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $83.3M | $319.2M | $377.8M |
| Asia Pacific | $41.1M | $14.3M | $29.2M |
| North America | $59.0K | $78.0K | $342.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue9¢$39.5M
- Research and development16¢$71.5M
- Selling, general and admin75¢$337.2M
- Income tax0¢$969.0K
Out of $407.3M in revenue.4 The company lost money this year.
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 | $407.3M | $333.6M | $124.5M |
| Cost of sales | $39.5M | $50.6M | $17.8M |
| Research and development | $71.5M | $52.3M | $35.5M |
| Selling, general and administrative | $337.2M | $258.7M | $134.4M |
| Total costs and operating expenses | $448.3M | $361.6M | $187.7M |
| Loss from operations | -$41.0M | -$27.9M | -$63.3M |
| Interest expense | -$20.1M | -$13.0M | -$5.0M |
| Non-cash interest expense related to the sale of future royalties | -$8.3M | -$7.1M | -$3.9M |
| Other income, net | $8.7M | $9.2M | $6.6M |
| Loss before provision for income taxes | -$60.6M | -$38.9M | -$65.5M |
| Provision for income taxes | $969.0K | $266.0K | $547.0K |
| Net loss | -$61.6M | -$39.1M | -$66.1M |
| Net loss per share of common stock - basic (in dollars per share) | -$0.26 | -$0.17 | -$0.30 |
| Net loss per share of common stock - diluted (in dollars per share) | -$0.26 | -$0.17 | -$0.30 |
| Shares used in computing net loss per share - basic (in shares) | 241.0M shares | 235.2M shares | 219.3M shares |
| Shares used in computing net loss per share - diluted (in shares) | 241.0M shares | 235.2M shares | 219.3M shares |
| Unrealized gains (losses) on available-for-sale securities | $141.0K | -$167.0K | $278.0K |
| Comprehensive loss | -$61.5M | -$39.3M | -$65.8M |
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 | $68.0M | $64.9M | |
| Short-term investments | $196.7M | $185.2M | |
| Accounts receivable | $71.8M | $57.7M | |
| Inventory | $17.7M | $21.2M | |
| Prepaid commercial manufacturing | $14.5M | $16.4M | |
| Prepaid expenses and other current assets | $13.6M | $11.1M | |
| Total current assets | $382.3M | $356.5M | |
| Property and equipment, net | $2.2M | $1.5M | |
| Inventory, non-current | $105.4M | $70.0M | |
| Right-of-use assets | $4.8M | $2.4M | |
| Other assets | $6.9M | $5.4M | |
| Total assets | $501.6M | $435.8M | |
| Accounts payable | $19.2M | $16.0M | |
| Accrued compensation and benefits | $19.1M | $14.9M | |
| Current portion of operating lease liability | $1.5M | $1.6M | |
| Deferred revenue | $1.2M | $10.7M | $7.2M |
| Accrued expenses and other current liabilities | $47.6M | $34.6M | |
| Total current liabilities | $88.6M | $77.8M | |
| Operating lease liability, net of current portion | $3.6M | $1.0M | |
| Long-term debt | $202.8M | $150.9M | |
| Deferred revenue, non-current | $13.7M | $7.2M | $8.6M |
| Deferred royalty obligation related to the sale of future royalties | $25.9M | $25.5M | |
| Total liabilities | $334.7M | $262.5M | |
| Common stock, $0.0001 par value per share; 500,000,000 shares authorized; 244,351,501 and 238,015,825 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively | $24.0K | $24.0K | |
| Additional paid-in capital | $1.1B | $1.1B | |
| Accumulated deficit | -$946.9M | -$885.3M | |
| Accumulated other comprehensive income | $198.0K | $57.0K | |
| Total stockholders equity | $166.9M | $173.3M | $166.8M |
| Total liabilities and stockholders equity | $501.6M | $435.8M | |
| Common stock, par value (in dollars per share) | $0.00 | $0.00 | |
| Common stock, shares authorized (in shares) | 500.0M shares | 500.0M shares | |
| Common stock, shares issued (in shares) | 244.4M shares | 238.0M shares | |
| Common stock, shares outstanding (in shares) | 244.4M shares | 238.0M 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 | -$61.6M | -$39.1M | -$66.1M |
| Depreciation and amortization expense | $3.1M | $2.1M | $1.3M |
| Non-cash lease expense | $1.9M | $4.0M | $3.6M |
| Stock-based compensation | $49.0M | $37.4M | $13.5M |
| Non-cash interest expense | $9.0M | $7.4M | $4.2M |
| Non-cash royalty revenue related to the sale of future royalties | -$8.5M | -$2.7M | $0 |
| Other, net | -$3.9M | -$4.7M | -$2.9M |
| Accounts receivable | -$14.1M | -$35.7M | -$14.3M |
| Inventory | -$31.9M | -$41.7M | -$21.1M |
| Prepaid commercial manufacturing | $1.9M | $6.8M | -$9.6M |
| Prepaid expenses and other assets | -$4.3M | -$4.5M | -$6.0M |
| Accounts payable | $3.2M | $4.9M | $279.0K |
| Accrued compensation and benefits | $4.2M | $2.3M | $5.0M |
| Operating lease liabilities | -$1.8M | -$4.6M | -$3.9M |
| Accrued and other liabilities | $14.5M | $21.3M | $3.7M |
| Deferred revenue | -$3.0M | $2.1M | $2.6M |
| Net cash used in operating activities | -$42.5M | -$44.8M | -$89.7M |
| Proceeds from maturities and redemptions of investments | $211.5M | $177.9M | $84.3M |
| Purchases of investments | -$218.9M | -$195.2M | -$215.2M |
| Purchases of property and equipment | -$1.5M | -$1.0M | -$344.0K |
| Net cash used in investing activities | -$9.0M | -$18.3M | -$131.2M |
| Proceeds from issuance of common stock in at the market offering, net of issuance costs | $0 | $0 | $119.2M |
| Proceeds from 2022 Loan Agreement, net of costs | $48.7M | $99.5M | $22.4M |
| Proceeds from the sale of future royalties, net of issuance costs | $0 | $0 | $5.0M |
| Proceeds from issuance of common stock under equity incentive plans | $5.8M | $8.1M | $1.2M |
| Payments of the previously outstanding exit fees | $0 | -$1.0M | -$1.5M |
| Net cash provided by financing activities | $54.5M | $106.6M | $146.3M |
| Net increase (decrease) in cash and cash equivalents | $3.1M | $43.5M | -$74.7M |
| Cash paid for interest | $15.7M | $11.4M | $4.2M |
| Cash paid for income taxes | $485.0K | $266.0K | $51.0K |
| Right-of-use assets obtained in exchange for lease obligations | $4.4M | $1.0M | $339.0K |
| Issuance of common stock for services | $315.0K | $257.0K | $337.0K |
Former names
- NTERYX INCJun 9, 2008 to Jun 9, 20083
Timeline
- 2007Founded Founded1
Recent filings
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 25, 20264
- Aug 21, 2026144
- Aug 21, 2026144
- Aug 21, 2026144
- Aug 21, 2026144
- Aug 21, 2026144
- Aug 21, 2026144
- Aug 21, 2026144
Every filing from the last three years, summarized. The full record is on SEC EDGAR.2
Links
- Websitewww.ardelyx.com1
- WikidataQ50039488
- SEC EDGARCIK 1437402
Sources
The numbers on this page point here. Each one links to the record it came from.
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