ARDELYX, INC.ARDXEarnings & Financial Report
Ardelyx, Inc. is a commercial-stage biopharmaceutical firm developing and commercializing innovative therapies for gastrointestinal, cardiorenal and metabolic diseases with high unmet medical needs. Its lead product is approved in the US for irritable bowel syndrome with constipation, and it holds a robust pipeline of early and late-stage drug candidates.
Revenue
$97.7M
Gross Profit
$85.3M
Operating Profit
$-14.4M
Net Profit
$-19.1M
Gross Margin
87.3%
Operating Margin
-14.7%
Net Margin
-19.5%
YoY Growth
33.4%
EPS
$-0.08
ARDELYX, INC. Q2 FY2025 Financial Summary
ARDELYX, INC. reported revenue of $97.7M (up 33.4% YoY) for Q2 FY2025, with a net profit of $-19.1M (down 16.0% YoY) (-19.5% margin). Cost of goods sold was $12.4M, operating expenses totaled $99.7M.
Key Financial Metrics
| Total Revenue | $97.7M |
|---|---|
| Net Profit | $-19.1M |
| Gross Margin | 87.3% |
| Operating Margin | -14.7% |
| Report Period | Q2 FY2025 |
Revenue Breakdown
ARDELYX, INC. Q2 FY2025 revenue of $97.7M breaks down across 4 segments, led by Product IBSRELA at $65.0M (66.6% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Product IBSRELA | $65.0M | 66.6% |
| Product XPHOZAH | $25.0M | 25.6% |
| Product Supply Revenue | $6.2M | 6.3% |
| Non Cash Royalty Related To Sale Of Future Royalties | $1.4M | 1.4% |
ARDELYX, INC. Revenue by Segment — Quarterly Trend
ARDELYX, INC. revenue by segment across the last 4 reported quarters, showing how each business line (such as Product IBSRELA and Product XPHOZAH) has evolved quarter over quarter.
| Segment | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 |
|---|---|---|---|---|
| Product IBSRELA | — | $86.6M | $78.2M | $65.0M |
| Product XPHOZAH | — | $27.8M | $27.4M | $25.0M |
| Product Supply Revenue | — | — | — | $6.2M |
| Non Cash Royalty Related To Sale Of Future Royalties | — | $1.4M | $4.8M | $1.4M |
ARDELYX, INC. Annual Revenue by Year
ARDELYX, INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $407.3M).
| Year | Annual Revenue |
|---|---|
| 2025 | $407.3M |
| 2024 | $333.6M |
ARDELYX, INC. Quarterly Revenue & Net Profit History
ARDELYX, INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q1 FY2026 | $94.5M | +27.5% | $-37.6M | -39.8% |
| Q4 FY2025 | $125.2M | +7.8% | $-407.0K | -0.3% |
| Q3 FY2025 | $110.3M | +12.3% | $-969.0K | -0.9% |
| Q2 FY2025 | $97.7M | +33.4% | $-19.1M | -19.5% |
| Q1 FY2025 | $74.1M | +61.0% | $-41.1M | -55.5% |
| Q4 FY2024 | $116.1M | +237.9% | $4.6M | 4.0% |
| Q3 FY2024 | $98.2M | +74.2% | $-809.0K | -0.8% |
| Q2 FY2024 | $73.2M | +227.9% | $-16.5M | -22.5% |
Income Statement
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $73.2M | $98.2M | $116.1M | $74.1M | $97.7M | $110.3M | $125.2M | $94.5M |
| YoY Growth | 227.9% | 74.2% | 237.9% | 61.0% | 33.4% | 12.3% | 7.8% | 27.5% |
Balance Sheet
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $343.5M | $367.9M | $435.8M | $410.2M | $466.8M | $486.2M | $501.6M | $504.5M |
| Liabilities | $196.5M | $209.6M | $262.5M | $264.5M | $327.2M | $331.9M | $334.7M | $355.9M |
| Equity | $147.0M | $158.3M | $173.3M | $145.7M | $139.5M | $154.3M | $166.9M | $148.6M |
Cash Flow
| Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|
| Operating CF | $-19.4M | $501000 | $9.8M | $-38.5M | $-25.3M | $365000 | $21.0M |