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Side-by-side financial comparison of ARDELYX, INC. (ARDX) and Clarus Corp (CLAR). Click either name above to swap in a different company.
ARDELYX, INC. is the larger business by last-quarter revenue ($94.5M vs $65.4M, roughly 1.4× Clarus Corp). ARDELYX, INC. runs the higher net margin — -39.8% vs -47.8%, a 8.0% gap on every dollar of revenue. On growth, ARDELYX, INC. posted the faster year-over-year revenue change (27.5% vs -8.4%). Over the past eight quarters, ARDELYX, INC.'s revenue compounded faster (13.6% CAGR vs -2.9%).
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.
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
ARDX vs CLAR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $94.5M | $65.4M |
| Net Profit | $-37.6M | $-31.3M |
| Gross Margin | — | 27.7% |
| Operating Margin | — | -59.6% |
| Net Margin | -39.8% | -47.8% |
| Revenue YoY | 27.5% | -8.4% |
| Net Profit YoY | — | 52.3% |
| EPS (diluted) | $-0.15 | $-0.81 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $94.5M | — | ||
| Q4 25 | $125.2M | $65.4M | ||
| Q3 25 | $110.3M | $69.3M | ||
| Q2 25 | $97.7M | $55.2M | ||
| Q1 25 | $74.1M | $60.4M | ||
| Q4 24 | $116.1M | $71.4M | ||
| Q3 24 | $98.2M | $67.1M | ||
| Q2 24 | $73.2M | $56.5M |
| Q1 26 | $-37.6M | — | ||
| Q4 25 | $-407.0K | $-31.3M | ||
| Q3 25 | $-969.0K | $-1.6M | ||
| Q2 25 | $-19.1M | $-8.4M | ||
| Q1 25 | $-41.1M | $-5.2M | ||
| Q4 24 | $4.6M | $-65.5M | ||
| Q3 24 | $-809.0K | $-3.2M | ||
| Q2 24 | $-16.5M | $-5.5M |
| Q1 26 | — | — | ||
| Q4 25 | 91.3% | 27.7% | ||
| Q3 25 | 96.4% | 35.1% | ||
| Q2 25 | 87.3% | 35.6% | ||
| Q1 25 | 83.4% | 34.4% | ||
| Q4 24 | 84.3% | 33.4% | ||
| Q3 24 | 84.0% | 35.0% | ||
| Q2 24 | 87.1% | 36.1% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | -59.6% | ||
| Q3 25 | 4.2% | -4.4% | ||
| Q2 25 | -14.7% | -19.7% | ||
| Q1 25 | -49.0% | -11.2% | ||
| Q4 24 | 7.0% | -70.2% | ||
| Q3 24 | 2.3% | -8.0% | ||
| Q2 24 | -18.6% | -14.4% |
| Q1 26 | -39.8% | — | ||
| Q4 25 | -0.3% | -47.8% | ||
| Q3 25 | -0.9% | -2.3% | ||
| Q2 25 | -19.5% | -15.3% | ||
| Q1 25 | -55.5% | -8.7% | ||
| Q4 24 | 4.0% | -91.8% | ||
| Q3 24 | -0.8% | -4.7% | ||
| Q2 24 | -22.5% | -9.7% |
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.01 | $-0.81 | ||
| Q3 25 | $0.00 | $-0.04 | ||
| Q2 25 | $-0.08 | $-0.22 | ||
| Q1 25 | $-0.17 | $-0.14 | ||
| Q4 24 | $0.01 | $-1.72 | ||
| Q3 24 | $0.00 | $-0.08 | ||
| Q2 24 | $-0.07 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $238.1M | $36.7M |
| Total DebtLower is stronger | $203.5M | $0 |
| Stockholders' EquityBook value | $148.6M | $196.4M |
| Total Assets | $504.5M | $249.0M |
| Debt / EquityLower = less leverage | 1.37× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $238.1M | — | ||
| Q4 25 | $68.0M | $36.7M | ||
| Q3 25 | $42.7M | $29.5M | ||
| Q2 25 | $90.0M | $28.5M | ||
| Q1 25 | $30.8M | $41.3M | ||
| Q4 24 | $64.9M | $45.4M | ||
| Q3 24 | $47.4M | $36.4M | ||
| Q2 24 | $41.9M | $46.2M |
| Q1 26 | $203.5M | — | ||
| Q4 25 | $202.8M | $0 | ||
| Q3 25 | $202.1M | $2.0M | ||
| Q2 25 | $201.4M | $1.9M | ||
| Q1 25 | $151.3M | $1.9M | ||
| Q4 24 | $150.9M | $1.9M | ||
| Q3 24 | $100.7M | — | ||
| Q2 24 | $100.2M | — |
| Q1 26 | $148.6M | — | ||
| Q4 25 | $166.9M | $196.4M | ||
| Q3 25 | $154.3M | $225.8M | ||
| Q2 25 | $139.5M | $225.1M | ||
| Q1 25 | $145.7M | $229.3M | ||
| Q4 24 | $173.3M | $233.1M | ||
| Q3 24 | $158.3M | $308.5M | ||
| Q2 24 | $147.0M | $307.3M |
| Q1 26 | $504.5M | — | ||
| Q4 25 | $501.6M | $249.0M | ||
| Q3 25 | $486.2M | $283.1M | ||
| Q2 25 | $466.8M | $286.5M | ||
| Q1 25 | $410.2M | $292.8M | ||
| Q4 24 | $435.8M | $294.1M | ||
| Q3 24 | $367.9M | $375.3M | ||
| Q2 24 | $343.5M | $369.4M |
| Q1 26 | 1.37× | — | ||
| Q4 25 | 1.21× | 0.00× | ||
| Q3 25 | 1.31× | 0.01× | ||
| Q2 25 | 1.44× | 0.01× | ||
| Q1 25 | 1.04× | 0.01× | ||
| Q4 24 | 0.87× | 0.01× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.68× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $12.5M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 17.7% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $21.0M | $12.5M | ||
| Q3 25 | $365.0K | $-5.7M | ||
| Q2 25 | $-25.3M | $-9.4M | ||
| Q1 25 | $-38.5M | $-2.1M | ||
| Q4 24 | $9.8M | $16.6M | ||
| Q3 24 | $501.0K | $-8.3M | ||
| Q2 24 | $-19.4M | $834.0K |
| Q1 26 | — | — | ||
| Q4 25 | $20.6M | $11.6M | ||
| Q3 25 | $209.0K | $-7.0M | ||
| Q2 25 | $-26.0M | $-11.3M | ||
| Q1 25 | $-38.8M | $-3.3M | ||
| Q4 24 | $9.2M | $14.4M | ||
| Q3 24 | $364.0K | $-9.4M | ||
| Q2 24 | $-19.5M | $-744.0K |
| Q1 26 | — | — | ||
| Q4 25 | 16.4% | 17.7% | ||
| Q3 25 | 0.2% | -10.0% | ||
| Q2 25 | -26.6% | -20.4% | ||
| Q1 25 | -52.3% | -5.4% | ||
| Q4 24 | 7.9% | 20.1% | ||
| Q3 24 | 0.4% | -14.0% | ||
| Q2 24 | -26.7% | -1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 1.4% | ||
| Q3 25 | 0.1% | 1.8% | ||
| Q2 25 | 0.7% | 3.4% | ||
| Q1 25 | 0.4% | 2.0% | ||
| Q4 24 | 0.5% | 3.1% | ||
| Q3 24 | 0.1% | 1.6% | ||
| Q2 24 | 0.2% | 2.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.11× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARDX
| IBSRELA | $70.1M | 74% |
| XPHOZAH | $23.3M | 25% |
| Non-cash royalty revenue related to the sale of future royalties | $695.0K | 1% |
| Product supply revenue | $354.0K | 0% |
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
