# Ardelyx, Inc.: overview

ARDX · Nasdaq · CIK 1437402 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ardx.md) · [Financials](/companies/ardx/financials.md) · [Filings](/companies/ardx/filings.md) · [Insiders](/companies/ardx/insiders.md)

Latest reported revenue: [$120.9m](/filings/0001437402-26-000044.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 6, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001437402-26-000044).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [98.2](/filings/0001437402-25-000018.md) | [116 d](/filings/0001437402-26-000013.md) | [74.1](/filings/0001437402-26-000022.md) | [97.7](/filings/0001437402-26-000044.md) | [110](/filings/0001437402-25-000018.md) | [125 d](/filings/0001437402-26-000013.md) | [94.5](/filings/0001437402-26-000022.md) | [121](/filings/0001437402-26-000044.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [2.3%](/filings/0001437402-25-000018.md) | [7.0% d](/filings/0001437402-26-000013.md) | [(49.0%)](/filings/0001437402-26-000022.md) | [(14.7%)](/filings/0001437402-26-000044.md) | [4.2%](/filings/0001437402-25-000018.md) | [4.1% d](/filings/0001437402-26-000013.md) | [(34.7%)](/filings/0001437402-26-000022.md) | [(10.3%)](/filings/0001437402-26-000044.md) |
| Net margin | % | [(0.8%)](/filings/0001437402-25-000018.md) | [4.0% d](/filings/0001437402-26-000013.md) | [(55.5%)](/filings/0001437402-26-000022.md) | [(19.5%)](/filings/0001437402-26-000044.md) | [(0.9%)](/filings/0001437402-25-000018.md) | [(0.3%) d](/filings/0001437402-26-000013.md) | [(39.8%)](/filings/0001437402-26-000022.md) | [(13.8%)](/filings/0001437402-26-000044.md) |
| Diluted EPS | $ per share | [0.00](/filings/0001437402-25-000018.md) | not reported | [(0.17)](/filings/0001437402-26-000022.md) | [(0.08)](/filings/0001437402-26-000044.md) | [0.00](/filings/0001437402-25-000018.md) | not reported | [(0.15)](/filings/0001437402-26-000022.md) | [(0.07)](/filings/0001437402-26-000044.md) |
| Free cash flow | $m | [0.4 d](/filings/0001437402-25-000018.md) | [9.2 d](/filings/0001437402-26-000013.md) | [(38.8)](/filings/0001437402-26-000022.md) | [(26.0) d](/filings/0001437402-26-000044.md) | [0.2 d](/filings/0001437402-25-000018.md) | [20.6 d](/filings/0001437402-26-000013.md) | [(32.3)](/filings/0001437402-26-000022.md) | [(6.4) d](/filings/0001437402-26-000044.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [10.1](/filings/0001628280-24-006393.md) | [52.2](/filings/0001628280-25-006653.md) | [124](/filings/0001437402-26-000013.md) | [334](/filings/0001437402-26-000013.md) | [407](/filings/0001437402-26-000013.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(1528.6%)](/filings/0001628280-24-006393.md) | [(122.2%)](/filings/0001628280-25-006653.md) | [(50.8%)](/filings/0001437402-26-000013.md) | [(8.4%)](/filings/0001437402-26-000013.md) | [(10.1%)](/filings/0001437402-26-000013.md) |
| Net margin | % | [(1566.5%)](/filings/0001628280-24-006393.md) | [(128.9%)](/filings/0001628280-25-006653.md) | [(53.1%)](/filings/0001437402-26-000013.md) | [(11.7%)](/filings/0001437402-26-000013.md) | [(15.1%)](/filings/0001437402-26-000013.md) |
| Diluted EPS | $ per share | [(1.52)](/filings/0001628280-24-006393.md) | [(0.42)](/filings/0001628280-25-006653.md) | [(0.30)](/filings/0001437402-26-000013.md) | [(0.17)](/filings/0001437402-26-000013.md) | [(0.26)](/filings/0001437402-26-000013.md) |
| Free cash flow | $m | [(154)](/filings/0001628280-24-006393.md) | [(70.1)](/filings/0001628280-25-006653.md) | [(90.1)](/filings/0001437402-26-000013.md) | [(45.8)](/filings/0001437402-26-000013.md) | [(44.0)](/filings/0001437402-26-000013.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/ardx/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $119.9m | 23,504,630 |  | Added +2,340,498 |
| [Rubric Capital Management LP](/funds/1687509.md) | 2026-06-30 | $82.6m | 16,202,700 |  | Added +14,341,804 |
| [MILLENNIUM MANAGEMENT LLC](/funds/1273087.md) | 2026-06-30 | $70.9m | 13,900,773 |  | Reduced −3,941,597 |
| [STATE STREET CORP](/funds/93751.md) | 2026-06-30 | $68.1m | 13,356,128 |  | Reduced −248,179 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $53.4m | 10,471,494 |  | Added +105,982 |
| [JANUS HENDERSON GROUP PLC](/funds/1274173.md) | 2026-03-31 | $50.1m | 8,371,234 |  | Not compared |
| [NOMURA ASSET MANAGEMENT INTERNATIONAL INC.](/funds/921739.md) | 2026-06-30 | $48.7m | 9,546,732 |  | Added +1,377,363 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $40.9m | 8,026,774 |  | Added +1,365,081 |
| [GEODE CAPITAL MANAGEMENT, LLC](/funds/1214717.md) | 2026-06-30 | $32.7m | 6,401,736 |  | Added +394,281 |
| [Jupiter Topco LLC](/funds/2146052.md) | 2026-06-30 | $27.0m | 5,302,311 |  | Not compared |

## Recent filings

[All 1,174 filings](/companies/ardx/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-17 | 16:05 ET | [8-K](/filings/0001193125-26-354026.md) | 8.01 Other events | 0001193125-26-354026 |
| 2026-08-06 | 16:12 ET | [10-Q](/filings/0001437402-26-000044.md) | Quarterly report, period 2026-06-30 | 0001437402-26-000044 |
| 2026-08-06 | 16:09 ET | [8-K](/filings/0001437402-26-000043.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001437402-26-000043 |
| 2026-07-02 | 17:00 ET | [8-K](/filings/0001437402-26-000033.md) | 2.03 New direct financial obligation; 9.01 Financial statements and exhibits | 0001437402-26-000033 |
| 2026-06-17 | 17:00 ET | [8-K](/filings/0001437402-26-000029.md) | 5.02 Departure or appointment of officers or directors; 5.07 Shareholder vote results | 0001437402-26-000029 |
| 2026-04-30 | 16:05 ET | [10-Q](/filings/0001437402-26-000022.md) | Quarterly report, period 2026-03-31 | 0001437402-26-000022 |
| 2026-04-30 | 16:02 ET | [8-K](/filings/0001437402-26-000021.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001437402-26-000021 |
| 2026-04-29 | 16:01 ET | [DEF 14A](/filings/0001140361-26-017800.md) | Proxy statement, period 2026-06-16 | 0001140361-26-017800 |
| 2026-02-19 | 16:05 ET | [10-K](/filings/0001437402-26-000013.md) | Annual report, period 2025-12-31 | 0001437402-26-000013 |
| 2026-02-19 | 16:03 ET | [8-K](/filings/0001437402-26-000012.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001437402-26-000012 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001437402-26-000013.md), filed Feb 19, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/fbd2740e-818d-4f8a-93e5-09b713f7fa96)

## About the filer

- CIK: 1437402
- Tickers: ARDX
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:39 ET. No prices; not investment advice.