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Side-by-side financial comparison of ARDELYX, INC. (ARDX) and RHYTHM PHARMACEUTICALS, INC. (RYTM). Click either name above to swap in a different company.
ARDELYX, INC. is the larger business by last-quarter revenue ($94.5M vs $60.1M, roughly 1.6× RHYTHM PHARMACEUTICALS, INC.). ARDELYX, INC. runs the higher net margin — -39.8% vs -92.6%, a 52.8% gap on every dollar of revenue. On growth, RHYTHM PHARMACEUTICALS, INC. posted the faster year-over-year revenue change (83.8% vs 27.5%). Over the past eight quarters, RHYTHM PHARMACEUTICALS, INC.'s revenue compounded faster (43.8% CAGR vs 13.6%).
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.
Rhythm Pharmaceuticals is a biopharmaceutical firm focused on developing and commercializing targeted therapies for rare genetic disorders causing severe unmanageable obesity, including POMC deficiency, LEPR deficiency, and Bardet-Biedl syndrome. It serves patients in North America and Europe who lack effective standard treatments for their chronic life-altering conditions.
ARDX vs RYTM — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $94.5M | $60.1M |
| Net Profit | $-37.6M | $-55.6M |
| Gross Margin | — | 88.1% |
| Operating Margin | — | -87.1% |
| Net Margin | -39.8% | -92.6% |
| Revenue YoY | 27.5% | 83.8% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.15 | $-0.83 |
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 | $60.1M | ||
| Q4 25 | $125.2M | $57.3M | ||
| Q3 25 | $110.3M | $51.3M | ||
| Q2 25 | $97.7M | $48.5M | ||
| Q1 25 | $74.1M | $32.7M | ||
| Q4 24 | $116.1M | $41.8M | ||
| Q3 24 | $98.2M | $33.3M | ||
| Q2 24 | $73.2M | $29.1M |
| Q1 26 | $-37.6M | $-55.6M | ||
| Q4 25 | $-407.0K | $-47.5M | ||
| Q3 25 | $-969.0K | $-52.9M | ||
| Q2 25 | $-19.1M | $-46.6M | ||
| Q1 25 | $-41.1M | $-49.5M | ||
| Q4 24 | $4.6M | $-43.3M | ||
| Q3 24 | $-809.0K | $-43.6M | ||
| Q2 24 | $-16.5M | $-32.3M |
| Q1 26 | — | 88.1% | ||
| Q4 25 | 91.3% | 91.6% | ||
| Q3 25 | 96.4% | 89.3% | ||
| Q2 25 | 87.3% | 88.6% | ||
| Q1 25 | 83.4% | 88.8% | ||
| Q4 24 | 84.3% | 90.9% | ||
| Q3 24 | 84.0% | 88.5% | ||
| Q2 24 | 87.1% | 89.9% |
| Q1 26 | — | -87.1% | ||
| Q4 25 | 4.1% | -82.2% | ||
| Q3 25 | 4.2% | -102.6% | ||
| Q2 25 | -14.7% | -93.4% | ||
| Q1 25 | -49.0% | -143.7% | ||
| Q4 24 | 7.0% | -98.6% | ||
| Q3 24 | 2.3% | -132.0% | ||
| Q2 24 | -18.6% | -139.2% |
| Q1 26 | -39.8% | -92.6% | ||
| Q4 25 | -0.3% | -83.0% | ||
| Q3 25 | -0.9% | -103.1% | ||
| Q2 25 | -19.5% | -96.1% | ||
| Q1 25 | -55.5% | -151.4% | ||
| Q4 24 | 4.0% | -103.6% | ||
| Q3 24 | -0.8% | -131.2% | ||
| Q2 24 | -22.5% | -110.9% |
| Q1 26 | $-0.15 | $-0.83 | ||
| Q4 25 | $-0.01 | $-0.73 | ||
| Q3 25 | $0.00 | $-0.82 | ||
| Q2 25 | $-0.08 | $-0.75 | ||
| Q1 25 | $-0.17 | $-0.81 | ||
| Q4 24 | $0.01 | $-0.71 | ||
| Q3 24 | $0.00 | $-0.73 | ||
| Q2 24 | $-0.07 | $-0.55 |
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 | $340.6M |
| Total DebtLower is stronger | $203.5M | — |
| Stockholders' EquityBook value | $148.6M | $122.9M |
| Total Assets | $504.5M | $442.3M |
| Debt / EquityLower = less leverage | 1.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $238.1M | $340.6M | ||
| Q4 25 | $68.0M | $388.9M | ||
| Q3 25 | $42.7M | $416.1M | ||
| Q2 25 | $90.0M | $291.0M | ||
| Q1 25 | $30.8M | $314.5M | ||
| Q4 24 | $64.9M | $320.6M | ||
| Q3 24 | $47.4M | $298.4M | ||
| Q2 24 | $41.9M | $319.1M |
| Q1 26 | $203.5M | — | ||
| Q4 25 | $202.8M | — | ||
| Q3 25 | $202.1M | — | ||
| Q2 25 | $201.4M | — | ||
| Q1 25 | $151.3M | — | ||
| Q4 24 | $150.9M | — | ||
| Q3 24 | $100.7M | — | ||
| Q2 24 | $100.2M | — |
| Q1 26 | $148.6M | $122.9M | ||
| Q4 25 | $166.9M | $139.1M | ||
| Q3 25 | $154.3M | $148.8M | ||
| Q2 25 | $139.5M | $-11.9M | ||
| Q1 25 | $145.7M | $18.9M | ||
| Q4 24 | $173.3M | $21.7M | ||
| Q3 24 | $158.3M | $11.2M | ||
| Q2 24 | $147.0M | $39.3M |
| Q1 26 | $504.5M | $442.3M | ||
| Q4 25 | $501.6M | $480.2M | ||
| Q3 25 | $486.2M | $506.9M | ||
| Q2 25 | $466.8M | $372.7M | ||
| Q1 25 | $410.2M | $386.7M | ||
| Q4 24 | $435.8M | $392.3M | ||
| Q3 24 | $367.9M | $363.6M | ||
| Q2 24 | $343.5M | $381.8M |
| Q1 26 | 1.37× | — | ||
| Q4 25 | 1.21× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 1.44× | — | ||
| Q1 25 | 1.04× | — | ||
| Q4 24 | 0.87× | — | ||
| 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% |
RYTM
Segment breakdown not available.
