The financials
Ardelyx, Inc. by the numbers
Ardelyx, Inc. (ARDX) reported revenue of $94M in Q1 2026 (quarter ended Mar 31, 2026), up 27% from the same quarter a year earlier. That came with a gross margin of 95% and net loss of $38M. For the full year FY2025, revenue was $407M (+22% year on year) and net income −$62M. Its largest product in Jun 2026 was Product IBSRELA at $86M, 70% of the disclosed total, well ahead of Product XPHOZAH at 26%.
| Income statement | Q1 2026 | Q1 2025 | Change |
|---|---|---|---|
| Revenue | $94M | $74M | +27% |
| Gross profit | $90M | $62M | +45% |
| Operating income | −$33M | −$36M | n/a |
| Net income | −$38M | −$41M | n/a |
| Diluted EPS | −$0.15 | −$0.17 | n/a |
| Product | Revenue | Share |
|---|---|---|
| Product IBSRELA | $86M | 70% |
| Product XPHOZAH | $32M | 26% |
| Product And Service Other | $2.7M | 2.2% |
| Product Supply | $2.0M | 1.6% |
| Non Cash Royalty Related To Sale Of Future Royalties | $676K | 0.5% |
| License | $96K | 0.1% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Jun 2026Total $123.6M (+29%)
License grew +380% year on yearProduct Supply -68% year on year
Segment Latestquarter on quarteryear on year
- Product IBSRELA$86.2M$86.2MQoQ +23%year on year +33%+23%+33%
- Product XPHOZAH$31.9M$31.9MQoQ +37%year on year +27%+37%+27%
- Product And Service Other$2.7M$2.7MQoQ +150%year on year -64%+150%-64%
- Product Supply$2.0M$2.0MQoQ +458%year on year -68%+458%-68%
- Non Cash Royalty Related To Sale Of Future Royalties$676.0K$676.0KQoQ -2.7%year on year -51%-2.7%-51%
- License$96.0K$96.0KQoQ +88%year on year +380%+88%+380%