ARDELYX, INC.

Listed Company

ARDXCIK 0001437402NasdaqLarge AcceleratedPharmaceutical PreparationsDelawareFY ends Dec 31

Period

FY 2025

Revenue

$407.32M

Net Income

$-61.60M

Total Assets

$501.60M

Equity

$166.95M

Shares Out

247.03M

Op. Cash Flow

$-42.48M

ARDX$5.19+15.08% · past yearDBEQ Basic

Daily closing prices

Business

Ardelyx is a commercial-stage biopharmaceutical company developing and commercializing innovative medicines addressing unmet medical needs. The company markets two approved therapies based on tenapanor: IBSRELA for irritable bowel syndrome with constipation and XPHOZAH to reduce serum phosphorus in chronic kidney disease patients on dialysis. Ardelyx also develops a next-generation NHE3 inhibitor and has collaboration agreements for tenapanor commercialization in Canada, Japan and China. The company operates as a single reportable segment focused on U.S. and ex-U.S. biopharmaceutical commercialization and development.

Summary from 10-K filed 2026-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total revenues	407	334	124	52	10
Cost of sales	40	51	18	4	1
Research and development	72	52	36	35	91
Selling, general and administrative	337	259	134	77	72
Total costs and operating expenses	448	362	188	112	163
Loss from operations	−41	−28	−63	−64	−154
Interest expense	−20	−13	−5	−3	—
Non-cash interest expense related to the sale of future royalties	−8	−7	−4	−2	—
Other income, net	9	9	7	2	687,000
Loss before provision for income taxes	−61	−39	−66	−67	−158
Provision for income taxes	969,000	266,000	547,000	8,000	4,000
Net loss	−62	−39	−66	−67	−158
Net loss per share of common stock - basic (in dollars per share)	−0.26	−0.17	−0.3	−0.42	−1.52
Net loss per share of common stock - diluted (in dollars per share)	−0.26	−0.17	−0.3	−0.42	−1.52
Shares used in computing net loss per share - basic (in shares)	241	235	219	159	104
Shares used in computing net loss per share - diluted (in shares)	241	235	219	159	104
Unrealized gains (losses) on available-for-sale securities	141,000	−167,000	278,000	−48,000	−2,000
Comprehensive loss	−61	−39	−66	−67	−158

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	68	65	21	96	72
Short-term investments	197	185	163	28	44
Accounts receivable	72	58	22	8	502,000
Inventory	18	21	12	3	0
Prepaid commercial manufacturing	14	16	19	14	9
Prepaid expenses and other current assets	14	11	8	5	7
Total current assets	382	356	246	154	134
Property and equipment, net	2	1	1	1	2
Inventory, non-current	105	70	37	25	0
Right-of-use assets	5	2	6	9	13
Other assets	7	5	4	881,000	1
Total assets	502	436	298	190	150
Accounts payable	19	16	11	11	4
Accrued compensation and benefits	19	15	13	8	5
Current portion of operating lease liability	1	2	4	4	3
Deferred revenue	1	11	7	4	0
Accrued expenses and other current liabilities	48	35	15	12	7
Total current liabilities	89	78	50	66	53
Operating lease liability, net of current portion	4	1	2	6	10
Long-term debt	203	151	50	0	0
Deferred revenue, non-current	14	7	9	9	5
Deferred royalty obligation related to the sale of future royalties	26	26	20	11	0
Total liabilities	335	262	131	92	67
Commitments and contingencies (Note 19)	—	—	—	—	—
Common stock, $0.0001 par value per share; 500,000,000 shares authorized; 244,351,501 and 238,015,825 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	24,000	24,000	23,000	20,000	13,000
Additional paid-in capital	1,114	1,059	1,013	879	796
Accumulated deficit	−947	−885	−846	−780	−713
Accumulated other comprehensive income	198,000	57,000	224,000	−54,000	−6,000
Total stockholders equity	167	173	167	98	83
Total liabilities and stockholders equity	502	436	298	190	150

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	3	2	1	1	3
Non-cash lease expense	2	4	4	3	3
Stock-based compensation	49	37	14	11	12
Non-cash interest expense	9	7	4	2	283,000
Non-cash royalty revenue related to the sale of future royalties	−9	−3	0	0	—
Other, net	−4	−5	−3	685,000	—
Accounts receivable	−14	−36	−14	−7	−502,000
Inventory	−32	−42	−21	−28	0
Prepaid commercial manufacturing	2	7	−10	−4	−9
Prepaid expenses and other assets	−4	−5	−6	2	502,000
Accounts payable	3	5	279,000	7	−1
Accrued compensation and benefits	4	2	5	2	−250,000
Operating lease liabilities	−2	−5	−4	−3	−3
Accrued and other liabilities	15	21	4	4	1
Deferred revenue	−3	2	3	9	550,000
Net cash used in operating activities	−42	−45	−90	−70	−153
Proceeds from maturities and redemptions of investments	211	178	84	67	126
Purchases of investments	−219	−195	−215	−50	−73
Purchases of property and equipment	−1	−1	−344,000	−55,000	−2
Net cash used in investing activities	−9	−18	−131	18	51
Proceeds from issuance of common stock in at the market offering, net of issuance costs	0	0	119	72	101
Proceeds from 2022 Loan Agreement, net of costs	49	99	22	27	0
Proceeds from the sale of future royalties, net of issuance costs	0	0	5	10	0
Proceeds from issuance of common stock under equity incentive plans	6	8	1	202,000	1
Payments of the previously outstanding exit fees	0	−1	−2	0	0
Net cash provided by financing activities	55	107	146	75	83
Net increase (decrease) in cash and cash equivalents	3	43	−75	24	−19
Cash paid for interest	16	11	4	3	3
Cash paid for income taxes	485,000	266,000	51,000	6,000	4,000
Right-of-use assets obtained in exchange for lease obligations	4	1	339,000	0	2
Issuance of common stock for services	315,000	257,000	337,000	390,000	190,000

Filings

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Frequently asked questions

What is ARDELYX, INC.'s CIK number?

ARDELYX, INC.'s SEC CIK number is 0001437402 (1437402). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.

Where can I find ARDELYX, INC.'s SEC filings?

All of ARDELYX, INC.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.

When did ARDELYX, INC. last report earnings?

ARDELYX, INC. (ARDX) most recently filed an earnings 8-K with the SEC on Apr 30, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001437402-26-000021). This is ARDELYX, INC.'s most recent earnings filing of record — not a forecast of its next earnings date.

What is ARDELYX, INC.'s most recent earnings 8-K?

ARDELYX, INC.'s latest earnings 8-K (Item 2.02) was filed Apr 30, 2026 under accession 0001437402-26-000021. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.

View ARDELYX, INC.'s latest earnings 8-K →
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