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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$996.75M-23.4%
Enterprise value$1.16B-18.5%
P/S2.2×-1.2×

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 us-gaap:ResearchAndDevelopmentExpense.

The source filing: Ardelyx’s 10-Q, filed August 6, 2026.

Filed
Aug 6, 2026, 4:12 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001437402-26-000044
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Total revenues120,87797,662215,350171,776
Costs and operating expenses
Cost of sales5,75912,40310,57024,706
Research and development26,10315,66646,29130,604
Selling, general and administrative101,44083,988203,707167,210
Total costs and operating expenses133,302112,057260,568222,520
Loss from operations(12,425)(14,395)(45,218)(50,744)
Interest expense(4,957)(4,356)(10,556)(8,547)

Item 1. Financial Statements (Unaudited)

FAQ

What is Ardelyx's R&D?
Ardelyx (ARDX) reported R&D of $26.1M in Q2 2026.
How has Ardelyx's R&D changed year-over-year?
Ardelyx's R&D increased by 66.6% year-over-year, from $15.67M to $26.1M.
What is the long-term trend for Ardelyx's R&D?
Over 4 years (2021 to 2025), Ardelyx's R&D has grown at a -5.9% compound annual growth rate (CAGR), from $91.14M to $71.53M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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