ARDELYX, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $407.3M | $333.6M | $124.5M | $52.2M | $10.1M |
| Cost of revenue | $39.5M | $50.6M | $17.8M | $4.1M | $1.0M |
| Selling, general & administrative | $337.2M | $258.7M | $134.4M | $76.6M | $72.3M |
| Research and development | $71.5M | $52.3M | $35.5M | $35.2M | $91.1M |
| Operating income | -$41.0M | -$27.9M | -$63.3M | -$63.8M | -$154.3M |
| Interest expense | $20.1M | $13.0M | $5.0M | $3.4M | $4.5M |
| Pretax income | -$60.6M | -$38.9M | -$65.5M | -$67.2M | -$158.2M |
| Income tax expense | $969,000 | $266,000 | $547,000 | $8,000 | $4,000 |
| Net income | -$61.6M | -$39.1M | -$66.1M | -$67.2M | -$158.2M |
| Balance Sheet | |||||
| Cash and equivalents | $68.0M | $64.9M | $21.5M | $96.1M | $72.4M |
| Current assets | $382.3M | $356.5M | $246.1M | $153.6M | $133.6M |
| Total assets | $501.6M | $435.8M | $297.6M | $190.1M | $149.9M |
| Current liabilities | $88.6M | $77.8M | $50.4M | $65.6M | $52.8M |
| Total liabilities | $334.7M | $262.5M | $130.8M | $91.7M | $67.3M |
| Total debt | — | — | $52.5M | $28.9M | $33.0M |
| Stockholders' equity | $166.9M | $173.3M | $166.8M | $98.3M | $82.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$42.5M | -$44.8M | -$89.7M | -$70.0M | -$152.6M |
| Depreciation and amortization | $3.1M | $2.1M | $1.3M | $1.1M | $2.8M |
| Stock-based compensation | $49.0M | $37.4M | $13.5M | $10.8M | $12.0M |
| Capital expenditure | $1.5M | $1.0M | $344,000 | $55,000 | $1.9M |
| Free cash flow | -$44.0M | -$45.8M | -$90.1M | -$70.1M | -$154.4M |
| Impairments | — | — | — | $0 | $0 |
Shares outstanding 247.0M · Free float 93.2%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.