Ardelyx, Inc. income statement
In fiscal 2025, Ardelyx, Inc. reported revenue of $407m, up 22.1% on the year before, operating income of −$41.0m (a -10.1% margin) and net income of −$61.6m, or −$0.26 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2012Dec 2012 | 2013Dec 2013 | 2014Dec 2014 | 2015Dec 2015 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 29 | 32 | 24 | 42 | 3 | 5 | 8 | 10 | 52 | 124 | 334 | 407 | 451 |
| Cost of revenue | — | — | — | — | 8 | 0 | 1 | 0 | 1 | 4 | 18 | 51 | 40 | 25 |
| Gross profit | — | — | — | 24 | 34 | 2 | 5 | 7 | 9 | 48 | 107 | 283 | 368 | 425 |
| Research and development | 10 | 28 | 26 | 40 | 75 | 69 | 72 | 65 | 91 | 35 | 36 | 52 | 72 | 87 |
| Selling, general and administrative | — | — | — | — | — | — | — | — | 72 | 77 | 134 | 259 | 337 | 374 |
| General and administrative | 4 | 4 | 7 | 14 | 23 | 24 | 24 | 33 | — | — | — | — | — | — |
| Operating income | −9 | −3 | −2 | −29 | −65 | −91 | −91 | −91 | −154 | −64 | −63 | −28 | −41 | −35 |
| Interest expense | — | — | — | — | — | 4 | 6 | 5 | 5 | 3 | 5 | 13 | 20 | 22 |
| Income before tax | −10 | −6 | −3 | −30 | −63 | −91 | −95 | −94 | −158 | −67 | −66 | −39 | −61 | −55 |
| Income tax | — | 0 | 0 | −0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 |
| Net income | −10 | −7 | −3 | −30 | −64 | −91 | −95 | −94 | −158 | −67 | −66 | −39 | −62 | −56 |
| Diluted EPS | −$5.66 | −$2.91 | −$0.15 | −$0.65 | −$1.36 | −$1.62 | −$1.47 | −$1.05 | −$1.52 | −$0.42 | −$0.30 | −$0.17 | −$0.26 | −$0.23 |
| Diluted shares (average) | 2m | 2m | 20m | 46m | 47m | 56m | 64m | 90m | 104m | 159m | 219m | 235m | 241m | 245m |
| EBITDA | −8 | −2 | −1 | −29 | −63 | −88 | −89 | −88 | −152 | −63 | −62 | −26 | −38 | −32 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 98 | 116 | 74 | 98 | 110 | 125 | 94 | 121 |
| Cost of revenue | 16 | 18 | 12 | 12 | 4 | 11 | 5 | 6 |
| Gross profit | 83 | 98 | 62 | 85 | 106 | 114 | 90 | 115 |
| Research and development | 15 | 14 | 15 | 16 | 18 | 23 | 20 | 26 |
| Selling, general and administrative | 65 | 76 | 83 | 84 | 84 | 86 | 102 | 101 |
| Operating income | 2 | 8 | −36 | −14 | 5 | 5 | −33 | −12 |
| Interest expense | 3 | 4 | 4 | 4 | 6 | 6 | 6 | 5 |
| Income before tax | −1 | 5 | −40 | −19 | −1 | −0 | −38 | −17 |
| Income tax | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Net income | −1 | 5 | −41 | −19 | −1 | −0 | −38 | −17 |
| Diluted EPS | $0.00 | $0.02 | −$0.17 | −$0.08 | $0.00 | −$0.01 | −$0.15 | −$0.07 |
| EBITDA | 3 | 9 | −36 | −14 | 6 | 6 | −32 | −12 |
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