ARDELYX, INC. (ARDX) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	468.2M	407.3M	333.6M	124.5M	52.2M
Cost of Revenue	26.9M	42.6M	50.6M	17.8M	4.1M
Gross Profit	441.3M	364.7M	283.1M	106.7M	48.0M
Operating Expenses
R&D Expense	93.4M	68.5M	52.3M	35.5M	35.2M
SG&A Expense	384.0M	337.2M	258.7M	134.4M	76.6M
General & Admin Expense	—	—	—	—	76.6M
Selling & Marketing Expense	—	—	—	—	—
Other Expenses	—	—	—	—	—
Total Operating Expenses	477.4M	405.7M	311.0M	169.9M	111.8M
Cost and Expenses	504.3M	448.3M	361.6M	187.7M	115.9M
Operating Income (EBIT)	(36.1M)	(41.0M)	(27.9M)	(63.3M)	(63.8M)
Non-Operating
Interest Income	—	—	—	—	—
Interest Expense	13.6M	28.4M	20.1M	8.9M	5.1M
Net Interest Income	(19.4M)	(28.4M)	(20.1M)	(8.9M)	(5.1M)
Other Non-Op Income/Expense	(19.2M)	(19.7M)	(10.9M)	(2.2M)	(3.4M)
Non-Operating Income (excl Interest)	(5.0M)	(8.7M)	(9.2M)	(6.6M)	(1.6M)
EBT (Pre-Tax Income)	(55.3M)	(60.6M)	(38.9M)	(65.5M)	(67.2M)
Income Tax Expense	215.0K	969.0K	266.0K	547.0K	8.0K
Bottom Line
Net Income	(55.5M)	(61.6M)	(39.1M)	(66.1M)	(67.2M)
Earnings from Cont. Ops	(55.5M)	(61.6M)	(39.1M)	(66.1M)	(67.2M)
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	(55.5M)	(61.6M)	(39.1M)	(66.1M)	(67.2M)
Per Share
Basic EPS	($0.22)	($0.26)	($0.17)	($0.30)	($0.42)
Diluted EPS	($0.22)	($0.26)	($0.17)	($0.30)	($0.42)
Revenue Per Share	$1.87	$1.69	$1.42	$0.57	$0.33
Shares
Basic Shares Outstanding	250.0M	241.0M	235.2M	219.3M	158.7M
Diluted Shares Outstanding	250.0M	241.0M	235.2M	219.3M	158.7M
Profitability Metrics
EBITDA	(28.7M)	(29.2M)	(16.7M)	(55.4M)	(61.0M)
D&A	2.4M	3.1M	2.1M	1.3M	1.1M
EBIT	(35.2M)	(32.2M)	(18.8M)	(56.6M)	(62.1M)

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Sep 1, 2026