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Side-by-side financial comparison of ARDELYX, INC. (ARDX) and Strategy Inc (MSTR). Click either name above to swap in a different company.
Strategy Inc is the larger business by last-quarter revenue ($123.0M vs $94.5M, roughly 1.3× ARDELYX, INC.). On growth, ARDELYX, INC. posted the faster year-over-year revenue change (27.5% vs 1.9%). Over the past eight quarters, ARDELYX, INC.'s revenue compounded faster (13.6% CAGR vs 3.3%).
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.
Strategy Inc., formerly known as MicroStrategy, is an American company that provides business intelligence (BI) and mobile software. Founded in 1989 by Michael J. Saylor, Sanju Bansal, and Thomas Spahr, the firm develops software to analyze internal and external data in order to make business decisions and to develop mobile apps. It is a public company headquartered in Tysons Corner, Virginia, in the Washington metropolitan area. Its primary business analytics competitors include SAP SE Busin...
ARDX vs MSTR — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $94.5M | $123.0M |
| Net Profit | $-37.6M | — |
| Gross Margin | — | 66.1% |
| Operating Margin | — | — |
| Net Margin | -39.8% | — |
| Revenue YoY | 27.5% | 1.9% |
| 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 | — | ||
| Q4 25 | $125.2M | $123.0M | ||
| Q3 25 | $110.3M | $128.7M | ||
| Q2 25 | $97.7M | $114.5M | ||
| Q1 25 | $74.1M | $111.1M | ||
| Q4 24 | $116.1M | $120.7M | ||
| Q3 24 | $98.2M | $116.1M | ||
| Q2 24 | $73.2M | $111.4M |
| Q1 26 | $-37.6M | — | ||
| Q4 25 | $-407.0K | — | ||
| Q3 25 | $-969.0K | $2.8B | ||
| Q2 25 | $-19.1M | $10.0B | ||
| Q1 25 | $-41.1M | $-4.2B | ||
| Q4 24 | $4.6M | $-670.8M | ||
| Q3 24 | $-809.0K | $-340.2M | ||
| Q2 24 | $-16.5M | $-102.6M |
| Q1 26 | — | — | ||
| Q4 25 | 91.3% | 66.1% | ||
| Q3 25 | 96.4% | 70.5% | ||
| Q2 25 | 87.3% | 68.8% | ||
| Q1 25 | 83.4% | 69.4% | ||
| Q4 24 | 84.3% | 71.7% | ||
| Q3 24 | 84.0% | 70.4% | ||
| Q2 24 | 87.1% | 72.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.1% | — | ||
| Q3 25 | 4.2% | — | ||
| Q2 25 | -14.7% | — | ||
| Q1 25 | -49.0% | -5331.4% | ||
| Q4 24 | 7.0% | -842.1% | ||
| Q3 24 | 2.3% | -372.7% | ||
| Q2 24 | -18.6% | -179.7% |
| Q1 26 | -39.8% | — | ||
| Q4 25 | -0.3% | — | ||
| Q3 25 | -0.9% | 2164.1% | ||
| Q2 25 | -19.5% | 8752.7% | ||
| Q1 25 | -55.5% | -3797.2% | ||
| Q4 24 | 4.0% | -555.8% | ||
| Q3 24 | -0.8% | -293.1% | ||
| Q2 24 | -22.5% | -92.0% |
| Q1 26 | $-0.15 | — | ||
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $0.00 | $8.42 | ||
| Q2 25 | $-0.08 | $32.60 | ||
| Q1 25 | $-0.17 | $-16.49 | ||
| Q4 24 | $0.01 | $4.49 | ||
| Q3 24 | $0.00 | $-1.72 | ||
| Q2 24 | $-0.07 | $-0.57 |
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 | $2.3B |
| Total DebtLower is stronger | $203.5M | $8.2B |
| Stockholders' EquityBook value | $148.6M | $44.1B |
| Total Assets | $504.5M | $61.6B |
| Debt / EquityLower = less leverage | 1.37× | 0.19× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $238.1M | — | ||
| Q4 25 | $68.0M | $2.3B | ||
| Q3 25 | $42.7M | $54.3M | ||
| Q2 25 | $90.0M | $50.1M | ||
| Q1 25 | $30.8M | $60.3M | ||
| Q4 24 | $64.9M | $38.1M | ||
| Q3 24 | $47.4M | $46.3M | ||
| Q2 24 | $41.9M | $66.9M |
| Q1 26 | $203.5M | — | ||
| Q4 25 | $202.8M | $8.2B | ||
| Q3 25 | $202.1M | $8.2B | ||
| Q2 25 | $201.4M | $8.2B | ||
| Q1 25 | $151.3M | $8.1B | ||
| Q4 24 | $150.9M | $7.2B | ||
| Q3 24 | $100.7M | $4.2B | ||
| Q2 24 | $100.2M | $3.8B |
| Q1 26 | $148.6M | — | ||
| Q4 25 | $166.9M | $44.1B | ||
| Q3 25 | $154.3M | $52.3B | ||
| Q2 25 | $139.5M | $47.5B | ||
| Q1 25 | $145.7M | $32.2B | ||
| Q4 24 | $173.3M | $18.2B | ||
| Q3 24 | $158.3M | $3.8B | ||
| Q2 24 | $147.0M | $2.8B |
| Q1 26 | $504.5M | — | ||
| Q4 25 | $501.6M | $61.6B | ||
| Q3 25 | $486.2M | $73.6B | ||
| Q2 25 | $466.8M | $64.8B | ||
| Q1 25 | $410.2M | $43.9B | ||
| Q4 24 | $435.8M | $25.8B | ||
| Q3 24 | $367.9M | $8.3B | ||
| Q2 24 | $343.5M | $7.1B |
| Q1 26 | 1.37× | — | ||
| Q4 25 | 1.21× | 0.19× | ||
| Q3 25 | 1.31× | 0.16× | ||
| Q2 25 | 1.44× | 0.17× | ||
| Q1 25 | 1.04× | 0.25× | ||
| Q4 24 | 0.87× | 0.39× | ||
| Q3 24 | 0.64× | 1.12× | ||
| Q2 24 | 0.68× | 1.36× |
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% |
MSTR
Segment breakdown not available.
