Ardelyx (ARDX) Financial Statements & Analysis

Ardelyx (ARDX) Income Statement

Ardelyx reported revenue of $407.32M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 22.1% from $333.62M a year earlier. Ardelyx posted a net loss of $61.60M, compared with a net loss of $39.14M a year earlier. Gross margin was 89.5% and operating margin -10.1%. In the most recent quarter, Q2 fiscal 2026 (ended Jun 30, 2026), revenue was $120.88M, up 23.8% from the same quarter a year earlier.

Ardelyx Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Ardelyx, Inc. income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	407.32	333.62	124.46	52.16	10.10	7.57	5.28	2.61	42.00
Cost of Revenue	42.60	102.87	17.80	39.32	1.00	0.15	0.60	0.47	8.40
Gross Profit	364.72	283.06	106.66	48.04	9.10	7.43	4.68	2.14	33.60
Operating Expenses
Research & Development	68.47	52.32	35.54	35.20	91.14	65.05	71.68	69.37	75.48
Selling, General & Administrative	337.23	258.69	134.40	76.60	72.30	33.15	24.27	23.72	23.23
Operating Expenses	405.70	311.01	169.94	111.80	163.44	98.21	95.94	93.09	98.72
Operating Income	-40.98	-27.95	-63.28	-63.76	-154.35	-90.78	-91.26	-90.95	-65.12
Other Income/Expense
Interest Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest Expense	28.40	-20.09	8.87	-5.07	4.50	5.10	5.73	3.53	0.00
Other Income/Expense	-19.65	-10.92	6.63	-3.44	-3.82	-3.53	-3.37	-0.35	1.96
Income
Income Before Tax	-60.63	-38.87	-65.52	-67.20	-158.16	-94.31	-94.64	-91.29	-63.16
Income Tax Expense	0.97	0.27	0.55	0.01	0.00	0.00	0.30	0.00	1.18
Net Income	-61.60	-39.14	-66.07	-67.21	-158.17	-94.31	-94.94	-91.30	-64.34
Net Income - Continuous Operations	-61.60	-39.14	-66.07	-67.21	-158.17	-94.31	-94.94	-91.30	-64.34
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	-29.17	-25.89	-55.35	-62.62	-150.85	-85.24	-84.57	-85.08	-60.52
EBIT	-32.23	-27.95	-56.65	-63.76	-153.66	-	-	-	-
Depreciation & Amortization	3.06	2.06	1.29	1.14	2.81	3.97	4.34	2.68	2.64
Earnings Per Share
Basic EPS	-	-	-	-	-2.00	-1.00	-1.00	-2.00	-1.00
Diluted EPS	-	-	-	-	-2.00	-1.00	-1.00	-2.00	-1.00
Basic Shares Outstanding	241.03	235.23	219.33	158.69	104.21	89.58	64.48	56.22	47.44
Diluted Shares Outstanding	241.03	235.23	219.33	158.69	104.21	89.58	64.48	56.22	47.44

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Ardelyx Financial Statements

What was Ardelyx's revenue in fiscal 2025?

Ardelyx reported revenue of $407.32M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 22.1% from $333.62M a year earlier.

Is Ardelyx profitable?

No. Ardelyx reported a net loss of $61.60M in fiscal 2025. In fiscal 2024 it lost $39.14M.

What is Ardelyx's operating margin?

Ardelyx's operating income was −$40.98M on revenue of $407.32M in fiscal 2025, an operating margin of -10.1%, compared with -8.4% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition