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Ardelyx ARDX Deferred royalty obligation

Deferred royalty obligation at other companies

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Other financials

Income statement

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Revenue$120.9M+23.8%
Gross profit$115.1M+35.0%
Operating income-$12.4M+13.7%
Net income-$16.7M+12.4%
EPS (diluted)-$0.07+12.5%

Balance sheet

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Cash & equivalents$97.2M+7.9%
Total debt$256.2M+24.0%
Total equity$149.0M+6.8%
Total assets$575.9M+23.4%

Cash flow

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Operating cash flow-$6.4M+74.7%
CapEx$13.0K-98.0%
Free cash flow-$6.4M+75.3%

Valuation

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Market cap$1.2B-4.0%
Enterprise value$1.36B-0.6%
P/S2.7×-0.6×

Profitability

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Gross margin94.4%+9.6pp
Operating margin-25.4%
Net margin-12.4%
FCF margin-40.9%

Returns & leverage

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Return on equity-38.6%
Debt / equity1.7×+0.2×
Current ratio3.3×-1.0×

Where this comes from

Reported directly by Ardelyx in its filing.

Tagged under the XBRL concept ardx:DeferredTaxAssetsRoyaltyObligation.

The source filing: Ardelyx’s 10-K, filed February 19, 2026.

Filed
Feb 19, 2026, 4:05 PM EST
Fiscal year
FY2025
Accession
0001437402-26-000013
(in thousands)December 31, 2025December 31, 2024
Amortization and depreciation44,70364,237
Tax credits17,10915,529
Stock-based compensation13,44611,226
Deferred royalty obligation6,4976,409
Other14,9418,122
Deferred tax assets220,796209,166
Valuation allowance(219,592)(208,568)
Deferred tax assets net of valuation allowance1,204598

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Ardelyx's deferred royalty obligation?
Ardelyx (ARDX) reported deferred royalty obligation of $6.5M in Q4 2025.
What is the long-term trend for Ardelyx's deferred royalty obligation?
Over 3 years (2022 to 2025), Ardelyx's deferred royalty obligation has grown at a 36.1% compound annual growth rate (CAGR), from $2.58M to $6.5M.
What does deferred royalty obligation mean?
The liability representing future royalty payments owed to third parties based on product sales, often arising from in-licensing agreements. This reflects the long-term cost of accessing intellectual property or proprietary technology. Managing this obligation is crucial for assessing the long-term margin profile of the company's commercialized products.

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