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Side-by-side financial comparison of ARDELYX, INC. (ARDX) and indie Semiconductor, Inc. (INDI). Click either name above to swap in a different company.
ARDELYX, INC. is the larger business by last-quarter revenue ($94.5M vs $55.5M, roughly 1.7× indie Semiconductor, Inc.). On growth, ARDELYX, INC. posted the faster year-over-year revenue change (27.5% vs 2.6%). 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.
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
ARDX vs INDI — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $94.5M | $55.5M |
| Net Profit | $-37.6M | — |
| Gross Margin | — | 38.0% |
| Operating Margin | — | -70.1% |
| Net Margin | -39.8% | — |
| Revenue YoY | 27.5% | 2.6% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.15 | — |
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 | $55.5M | ||
| Q4 25 | $125.2M | $58.0M | ||
| Q3 25 | $110.3M | $53.7M | ||
| Q2 25 | $97.7M | $51.6M | ||
| Q1 25 | $74.1M | $54.1M | ||
| Q4 24 | $116.1M | $58.0M | ||
| Q3 24 | $98.2M | $54.0M | ||
| Q2 24 | $73.2M | $52.4M |
| Q1 26 | $-37.6M | — | ||
| Q4 25 | $-407.0K | $-31.2M | ||
| Q3 25 | $-969.0K | $-38.3M | ||
| Q2 25 | $-19.1M | $-39.0M | ||
| Q1 25 | $-41.1M | $-34.5M | ||
| Q4 24 | $4.6M | $-34.4M | ||
| Q3 24 | $-809.0K | $-49.7M | ||
| Q2 24 | $-16.5M | $-19.2M |
| Q1 26 | — | 38.0% | ||
| Q4 25 | 91.3% | 37.3% | ||
| Q3 25 | 96.4% | 40.1% | ||
| Q2 25 | 87.3% | 40.6% | ||
| Q1 25 | 83.4% | 41.7% | ||
| Q4 24 | 84.3% | 42.6% | ||
| Q3 24 | 84.0% | 39.3% | ||
| Q2 24 | 87.1% | 42.2% |
| Q1 26 | — | -70.1% | ||
| Q4 25 | 4.1% | -58.5% | ||
| Q3 25 | 4.2% | -71.4% | ||
| Q2 25 | -14.7% | -83.3% | ||
| Q1 25 | -49.0% | -72.0% | ||
| Q4 24 | 7.0% | -58.4% | ||
| Q3 24 | 2.3% | -92.5% | ||
| Q2 24 | -18.6% | -70.0% |
| Q1 26 | -39.8% | — | ||
| Q4 25 | -0.3% | -53.8% | ||
| Q3 25 | -0.9% | -71.3% | ||
| Q2 25 | -19.5% | -75.6% | ||
| Q1 25 | -55.5% | -63.9% | ||
| Q4 24 | 4.0% | -59.2% | ||
| Q3 24 | -0.8% | -92.1% | ||
| Q2 24 | -22.5% | -36.6% |
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.01 | $-0.16 | ||
| Q3 25 | $0.00 | $-0.19 | ||
| Q2 25 | $-0.08 | $-0.20 | ||
| Q1 25 | $-0.17 | $-0.18 | ||
| Q4 24 | $0.01 | $-0.18 | ||
| Q3 24 | $0.00 | $-0.28 | ||
| Q2 24 | $-0.07 | $-0.11 |
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 | $174.4M |
| Total DebtLower is stronger | $203.5M | $402.8M |
| Stockholders' EquityBook value | $148.6M | $348.9M |
| Total Assets | $504.5M | $869.6M |
| Debt / EquityLower = less leverage | 1.37× | 1.15× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $238.1M | $174.4M | ||
| Q4 25 | $68.0M | $145.5M | ||
| Q3 25 | $42.7M | $160.9M | ||
| Q2 25 | $90.0M | $192.6M | ||
| Q1 25 | $30.8M | $236.6M | ||
| Q4 24 | $64.9M | $274.2M | ||
| Q3 24 | $47.4M | $96.9M | ||
| Q2 24 | $41.9M | $112.3M |
| Q1 26 | $203.5M | $402.8M | ||
| Q4 25 | $202.8M | $353.4M | ||
| Q3 25 | $202.1M | $353.5M | ||
| Q2 25 | $201.4M | $352.5M | ||
| Q1 25 | $151.3M | $379.0M | ||
| Q4 24 | $150.9M | $381.3M | ||
| Q3 24 | $100.7M | — | ||
| Q2 24 | $100.2M | — |
| Q1 26 | $148.6M | $348.9M | ||
| Q4 25 | $166.9M | $358.0M | ||
| Q3 25 | $154.3M | $369.2M | ||
| Q2 25 | $139.5M | $390.4M | ||
| Q1 25 | $145.7M | $405.6M | ||
| Q4 24 | $173.3M | $417.9M | ||
| Q3 24 | $158.3M | $458.6M | ||
| Q2 24 | $147.0M | $470.7M |
| Q1 26 | $504.5M | $869.6M | ||
| Q4 25 | $501.6M | $840.8M | ||
| Q3 25 | $486.2M | $855.1M | ||
| Q2 25 | $466.8M | $867.6M | ||
| Q1 25 | $410.2M | $909.0M | ||
| Q4 24 | $435.8M | $941.4M | ||
| Q3 24 | $367.9M | $797.5M | ||
| Q2 24 | $343.5M | $797.3M |
| Q1 26 | 1.37× | 1.15× | ||
| Q4 25 | 1.21× | 0.99× | ||
| Q3 25 | 1.31× | 0.96× | ||
| Q2 25 | 1.44× | 0.90× | ||
| Q1 25 | 1.04× | 0.93× | ||
| Q4 24 | 0.87× | 0.91× | ||
| Q3 24 | 0.64× | — | ||
| Q2 24 | 0.68× | — |
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% |
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
