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NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

Ardelyx, Inc. ARDX

14 fiscal years on record · USD · FY2025 reported · SEC filings only
$407.3M
▲ 22.1% YoY
$-61.6M
$-44.0M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

Ardelyx markets two therapies derived from tenapanor, a sodium/hydrogen exchanger (NHE3) inhibitor that it discovered and developed. Tenapanor, marketed under the brand IBSRELA, is approved in the U.S. for the treatment of adults with irritable bowel syndrome with constipation. XPHOZAH is approved in the U.S. to reduce serum phosphorus in adults with chronic kidney disease on dialysis as add-on therapy for patients who have an inadequate response to phosphate binders or are intolerant of any dose of phosphate binder therapy. At December 31, 2025, the company had 489 full-time employees, of whom 93 worked in research, development and manufacturing, 305 in sales and marketing and 91 in general and administrative activities. Its principal executive offices are located in Waltham, Massachusetts. The company operates in one business segment, the development and commercialization of biopharmaceutical products. The company was founded in October 2007 as a Delaware corporation under the name Nteryx and changed its name to Ardelyx, Inc. in June 2008.

Written from the business description in ARDELYX, INC.'s annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth

USD 407.3M
Revenue, FY2025 · full 14-year series below
Revenue $M Net income $M
FY2025 · Revenue 407.3 · Net income -61.6
150M300M-100M-200M
201220152018202120242025
Compound annual growth
+98.4%
+121.9%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +121.9% a year over the five years to FY2025.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−15 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -10.1% · Net -15.1%
-1000%-2000%-3000%
201220182025
ROE
FY2025 · ROE -36.2%
-50%-100%-150%
201220182025
Three returns, three denominators.

Each USD of equity lost 36 cents this year.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -44.0
10M20M-100M-200M
201220182025
Net buybacks $M Dividends $M
FY2014 · Dividends · · Net buybacks -61.2
-25.0M-50.0M
201220132014

Total assetsUSD 501.6M
EquityUSD 166.9M
CashUSD 68.0M
Gross debtUSD 202.8M
Net debtUSD 134.8M
Current ratio4.31×

Net debt stands at 81% of equity.

The 14-year record

14 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
ARDX, 14-year financial record
Metric 20252024202320222021202020192018201720162015201420132012
Revenue $B0.40.30.10.10.00.00.00.00.0◌0.00.00.00.0
Operating income $B−0.0−0.0−0.1−0.1−0.2−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.1−0.1−0.2−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0◌
Income tax $B0.00.00.00.00.00.00.00.00.0◌−0.00.00.0◌
Net income $B−0.1−0.0−0.1−0.1−0.2−0.1−0.1−0.1−0.1−0.1−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.1−0.1−0.2−0.1−0.1−0.1−0.1−0.1−0.10.00.00.0
EPS, diluted $−0.26−0.17−0.30−0.42−1.52−1.05−1.47−1.62−1.36−2.80−1.29−0.31−5.82−11.32
Dividend / sh $◌◌◌◌◌◌◌◌◌◌◌◌◌◌
Payout % — not applicable: no dividend——————————————
ROE %−36.2−23.0−49.8−74.3−151.6−60.3−62.8−71.6−38.7−74.4−34.9———
Shares out B0.240.240.230.200.130.090.090.060.050.050.030.020.00◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 57 reconciliationsAUDITED

Reconciled in 14 of the 14 fiscal years we could check. 12 checks were skipped: the balance sheet is not tagged before 2013. 10 checks were skipped: cost of revenue is not tagged before 2017. Five checks were skipped: EPS is not tagged before 2012.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2012

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