Ardelyx, Inc. (ARDX)
Nasdaq · Pharmaceutical Preparations · Manufacturing · CIK 1437402 · fiscal year ends in Dec
Closing price $3.10 on 29 Oct 2026; 52-week range $3.00 to $7.99.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $450.9M
- Revenue growth
- 16.8%
- Net income, last twelve months
- -$55.7M
- Earnings per share
- -$0.22
- Gross margin
- 94.4%
- Operating margin
- -7.9%
- Net margin
- -12.4%
- Free cash flow
- -$17.9M
- Return on equity
- -37.4%
- Market value
- $772.4M
- Cash
- $97.2M
- Debt
- $251.8M
- Debt to equity
- 1.69
- Shares outstanding
- 249.1M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $407.3M | -$41.0M | -$61.6M | -$0.26 | -$44.0M | 10-K filed 19 Feb 2026 |
| FY2024 | 31 Dec 2024 | $333.6M | -$27.9M | -$39.1M | -$0.17 | -$45.8M | 10-K filed 20 Feb 2025 |
| FY2023 | 31 Dec 2023 | $124.5M | -$63.3M | -$66.1M | -$0.30 | -$90.1M | 10-K filed 22 Feb 2024 |
| FY2022 | 31 Dec 2022 | $52.2M | -$63.8M | -$67.2M | -$0.42 | -$70.1M | 10-K filed 2 Mar 2023 |
| FY2021 | 31 Dec 2021 | $10.1M | -$154.3M | -$158.2M | -$1.52 | -$154.4M | 10-K filed 28 Feb 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $120.9M | -$16.7M | -$0.07 |
| Q1 FY2026 | 31 Mar 2026 | $94.5M | -$37.6M | -$0.15 |
| Q4 FY2025 | 31 Dec 2025 | $125.2M | -$407.0K | $0.00 |
| Q3 FY2025 | 30 Sep 2025 | $110.3M | -$969.0K | $0.00 |
| Q2 FY2025 | 30 Jun 2025 | $97.7M | -$19.1M | -$0.08 |
| Q1 FY2025 | 31 Mar 2025 | $74.1M | -$41.1M | -$0.17 |
| Q4 FY2024 | 31 Dec 2024 | $116.1M | $4.6M | $0.02 |
| Q3 FY2024 | 30 Sep 2024 | $98.2M | -$809.0K | $0.00 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By product, FY2025
| Segment | Revenue | Share |
|---|---|---|
| IBSRELA | $274.2M | 68.2% |
| XPHOZAH | $103.6M | 25.8% |
| Product supply revenue | $15.9M | 3.9% |
| Non-cash royalty revenue related to the sale of future royalties | $8.5M | 2.1% |
By region, FY2025
| Segment | Revenue | Share |
|---|---|---|
| United States | $377.8M | 92.8% |
| Asia Pacific | $29.2M | 7.2% |
| North America | $342.0K | 0.1% |
Company events
The newest 8-K filings of 154 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 17 Aug 2026 | 8-K | Other events | 8.01 |
| 6 Aug 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 2 Jul 2026 | 8-K | New debt | 2.03, 9.01 |
| 17 Jun 2026 | 8-K | Leadership change, Shareholder vote | 5.02, 5.07 |
| 30 Apr 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 19 Feb 2026 | 8-K | Results, Investor update | 2.02, 7.01, 9.01 |
| 8 Jan 2026 | 8-K | Results, Other events | 2.02, 8.01, 9.01 |
| 17 Dec 2025 | 8-K | Leadership change, Other events | 5.02, 8.01, 9.01 |
| 30 Oct 2025 | 8-K | Results | 2.02, 9.01 |
| 14 Oct 2025 | 8-K | Leadership change | 5.02 |
| 4 Aug 2025 | 8-K | Results, Leadership change, Bylaws or fiscal year change | 2.02, 5.02, 5.03, 9.01 |
| 3 Jul 2025 | 8-K | Material agreement | 1.01, 9.01 |
Every filing
The newest filings with the SEC of 303 held.
| Filed | Form | Period |
|---|---|---|
| 17 Aug 2026 | 8-K | 11 Aug 2026 |
| 10 Aug 2026 | S-8 | – |
| 6 Aug 2026 | 10-Q | 30 Jun 2026 |
| 6 Aug 2026 | 8-K | 6 Aug 2026 |
| 2 Jul 2026 | 8-K | 29 Jun 2026 |
| 17 Jun 2026 | 8-K | 16 Jun 2026 |
| 26 May 2026 | DEFA14A | – |
| 19 May 2026 | DEFA14A | – |
| 30 Apr 2026 | 10-Q | 31 Mar 2026 |
| 30 Apr 2026 | 8-K | 30 Apr 2026 |
| 29 Apr 2026 | ARS | 31 Dec 2025 |
| 29 Apr 2026 | DEF 14A | 16 Jun 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 21 Aug 2026 | Hohenleitner Susan, Chief Financial Officer | Sale outside a trading plan | 1,558 | $3.86 | $6.0K | 227,520 | 25 Aug 2026 |
| 21 Aug 2026 | Reilly Joseph James, See Remarks | Sale outside a trading plan | 2,872 | $3.86 | $11.1K | 146,964 | 25 Aug 2026 |
| 21 Aug 2026 | Reilly Joseph James, See Remarks | Sale outside a trading plan | 1,110 | $3.86 | $4.3K | 145,854 | 25 Aug 2026 |
| 21 Aug 2026 | Bishop John E, See Remarks | Sale outside a trading plan | 17,281 | $3.86 | $66.7K | 319,564 | 25 Aug 2026 |
| 21 Aug 2026 | Bishop John E, See Remarks | Sale outside a trading plan | 2,469 | $3.86 | $9.5K | 317,095 | 25 Aug 2026 |
| 21 Aug 2026 | Brady James Parker, Chief Human Resources Officer | Sale outside a trading plan | 1,976 | $3.86 | $7.6K | 259,090 | 25 Aug 2026 |
| 21 Aug 2026 | Brady James Parker, Chief Human Resources Officer | Sale outside a trading plan | 13,160 | $3.86 | $50.8K | 245,930 | 25 Aug 2026 |
| 21 Aug 2026 | Foster Eric Duane, Chief Commercial Officer | Sale outside a trading plan | 2,598 | $3.86 | $10.0K | 415,374 | 25 Aug 2026 |
| 21 Aug 2026 | Foster Eric Duane, Chief Commercial Officer | Sale outside a trading plan | 3,389 | $3.86 | $13.1K | 411,985 | 25 Aug 2026 |
| 21 Aug 2026 | Foster Eric Duane, Chief Commercial Officer | Sale outside a trading plan | 2,575 | $3.86 | $9.9K | 409,410 | 25 Aug 2026 |
| 21 Aug 2026 | Kelliher Mike, Chief Business Officer | Sale outside a trading plan | 3,104 | $3.86 | $12.0K | 354,314 | 25 Aug 2026 |
| 21 Aug 2026 | Kelliher Mike, Chief Business Officer | Sale outside a trading plan | 2,652 | $3.86 | $10.2K | 351,662 | 25 Aug 2026 |
Planned insider sales
Form 144 notices, filed when the sell order goes to the broker.
| Filed | Seller | Shares | Value | Planned sale |
|---|---|---|---|---|
| 21 Aug 2026 | Hohenleitner Susan, Officer | 2,650 | $10.7K | 21 Aug 2026 |
| 21 Aug 2026 | Reilly Joseph James, Officer | 4,700 | $18.9K | 21 Aug 2026 |
| 21 Aug 2026 | Kelliher Mike, Officer | 10,500 | $42.3K | 21 Aug 2026 |
| 21 Aug 2026 | Williams Laura A, Officer | 10,500 | $42.3K | 21 Aug 2026 |
| 21 Aug 2026 | Foster Eric Duane, Officer | 11,900 | $48.0K | 21 Aug 2026 |
| 21 Aug 2026 | Brady James Parker, Officer | 19,700 | $79.4K | 21 Aug 2026 |
| 21 Aug 2026 | Bishop John E, Officer | 25,500 | $102.8K | 21 Aug 2026 |
| 21 Aug 2026 | RAAB MICHAEL, Officer | 44,500 | $179.3K | 21 Aug 2026 |
| 18 Jun 2026 | LAURA WILLIAMS, Officer | 81,898 | $478.3K | 18 Jun 2026 |
| 15 Jun 2026 | MICHAEL RAAB, Director, Officer | 125,000 | $711.3K | 15 Jun 2026 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 14 Aug 2026 | Rubric Capital Management LP | 13G | 6.56% | 16.2M |
| 11 Aug 2026 | Integrated Core Strategies (US) LLC | 13G amended | 5.7% | 14.2M |
| 15 May 2026 | JANUS HENDERSON GROUP PLC | 13G amended | 3.4% | 8.4M |
| 12 May 2026 | STATE STREET CORPORATION | 13G | 5.5% | 13.6M |
| 27 Apr 2026 | Integrated Core Strategies (US) LLC | 13G amended | 7.4% | 18.0M |
| 26 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 30 Jan 2026 | The Vanguard Group | 13G amended | 7.81% | 19.0M |
| 12 Jan 2026 | Integrated Core Strategies (US) LLC | 13G | 5.4% | 13.1M |
| 14 Nov 2025 | JANUS HENDERSON GROUP PLC | 13G amended | 5.7% | 13.8M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 30.2M | +9.25% | 6.48 |
| 30 Sep 2026 | 27.7M | +8.1% | 6.6 |
| 15 Sep 2026 | 25.6M | +12.71% | 6.34 |
| 31 Aug 2026 | 22.7M | +1.26% | 6.14 |
| 14 Aug 2026 | 22.4M | -14.51% | 3.32 |
| 31 Jul 2026 | 26.2M | -0.04% | 11 |
| 15 Jul 2026 | 26.2M | +3.48% | 8.06 |
| 30 Jun 2026 | 25.4M | -5.85% | 4.04 |
Funds that hold it
From each fund's latest Form 13F.
285 funds held it at 30 Jun 2026: 125 added and 87 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 23,504,630 | $119.9M | +2,340,498 |
| Rubric Capital Management LP | 16,202,700 | $82.6M | +14,341,804 |
| Millennium Management LLC | 13,900,773 | $70.9M | -3,941,597 |
| State Street Corp. | 13,356,128 | $68.1M | -248,179 |
| Vanguard Capital Management LLC | 10,471,494 | $53.4M | +105,982 |
| Nomura Asset Management International Inc. | 9,546,732 | $48.7M | +1,377,363 |
| Vanguard Portfolio Management LLC | 8,026,774 | $40.9M | +1,365,081 |
| Geode Capital Management, LLC | 6,401,736 | $32.7M | +394,281 |
| Jupiter Topco LLC | 5,302,311 | $27.0M | – |
| Two Sigma Investments, LP | 5,209,823 | $26.6M | +935,780 |
Peers
Companies in the same industry.
- Eli Lilly & Co. (LLY): revenue $86.5B, market value $1.29T
- Johnson & Johnson (JNJ): revenue $99.3B, market value $662.4B
- AbbVie Inc. (ABBV): revenue $64.4B, market value $513.9B
- Merck & Co., Inc. (MRK): revenue $66.6B, market value $361.0B
- Novartis AG (NVS): revenue $54.5B, market value $307.3B
- AstraZeneca PLC (AZN): revenue $58.7B, market value $270.6B
- Abbott Laboratories (ABT): revenue $46.6B, market value $180.9B
- Novo Nordisk A/S (NVO): revenue $46.8B, market value $174.8B
- Pfizer Inc. (PFE): revenue $63.7B, market value $170.7B
- Vertex Pharmaceuticals Inc. (VRTX): revenue $12.6B, market value $136.8B