What is Ardelyx's work in process?

Ardelyx (ARDX) reported work in process of $90.04M in Q1 2026.

How has Ardelyx's work in process changed year-over-year?

Ardelyx's work in process increased by 47.6% year-over-year, from $60.99M to $90.04M.

What is the long-term trend for Ardelyx's work in process?

Over 3 years (2022 to 2025), Ardelyx's work in process has grown at a 155.0% compound annual growth rate (CAGR), from $5.32M to $88.26M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Ardelyx ARDX Work in process

Work in process at other companies

Bausch Health CompaniesBHC

$98M-10.9%

Aurinia PharmaceuticalsAUPH

$41.42M-0.8%

Agios PharmaceuticalsAGIO

$31.08M+21.9%

AmgenAMGN

——

AbbVieABBV

——

Neurocrine BiosciencesNBIX

——

Other financials

Income statement

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Revenue$94.5M+27.5%

Gross profit$89.7M+45.1%

Operating income-$32.8M+9.8%

Net income-$37.6M+8.6%

EPS (diluted)-$0.15+11.8%

Balance sheet

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Cash & equivalents$31.2M+1.3%

Total debt$208.3M+34.3%

Total equity$148.6M+2.0%

Total assets$504.5M+23.0%

Cash flow

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Operating cash flow-$32.2M+16.2%

CapEx$69.0K-78.8%

Free cash flow-$32.3M+16.7%

Valuation

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Market cap$1.53B+79.5%

Enterprise value$1.71B+74.8%

P/S3.6×+1.2×

Profitability

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Gross margin92.5%+7.9pp

Operating margin-25.4%—

Net margin-13.6%—

FCF margin-40.9%—

Returns & leverage

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Return on equity-39.5%—

Debt / equity1.4×+0.3×

Current ratio3.5×-0.6×

Where this comes from

Reported directly by Ardelyx in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcess.

The official record: Ardelyx’s 10-Q, filed April 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ardelyx's work in process?: Ardelyx (ARDX) reported work in process of $90.04M in Q1 2026.
How has Ardelyx's work in process changed year-over-year?: Ardelyx's work in process increased by 47.6% year-over-year, from $60.99M to $90.04M.
What is the long-term trend for Ardelyx's work in process?: Over 3 years (2022 to 2025), Ardelyx's work in process has grown at a 155.0% compound annual growth rate (CAGR), from $5.32M to $88.26M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.