Earnings summaries and quarterly performance for ARDELYX.
Executive leadership at ARDELYX.
Michael Raab
Detailed
Chief Executive Officer
CEO
EG
Elizabeth Grammer
Detailed
Chief Legal and Administrative Officer
EF
Eric Foster
Detailed
Chief Commercial Officer
LW
Laura Williams
Detailed
Chief Patient Officer
MK
Mike Kelliher
Detailed
Executive Vice President, Corporate Development and Strategy
SH
Sue Hohenleitner
Detailed
Chief Financial Officer
Board of directors at ARDELYX.
Research analysts who have asked questions during ARDELYX earnings calls.
Aydin Huseynov
Ladenburg Thalmann
4 questions for ARDX
Also covers: CAPR, CLRB, CMPX +3 more
Joseph Thome
TD Cowen
4 questions for ARDX
Also covers: ALKS, AMLX, ARWR +12 more
LC
Laura Chico
Wedbush Securities
4 questions for ARDX
Also covers: APLS, BCRX, BHVN +11 more
Ryan Deschner
Raymond James Financial
4 questions for ARDX
Also covers: APLS, ARSP, GLMD +7 more
LC
Louise Chen
Cantor Fitzgerald
3 questions for ARDX
Also covers: AMGN, CNTB, GILD +18 more
Allison Arfstrom
Piper Sandler
2 questions for ARDX
Also covers: DENN, DIN, KRUS
CR
Christopher Raymond
Piper Sandler
2 questions for ARDX
Also covers: ABBV, AGIO, AMGN +7 more
DD
Dennis Ding
Jefferies Financial Group Inc.
2 questions for ARDX
Also covers: CARA, CRNX, FOLD +10 more
JJ
Jennifer Jia
Cantor Fitzgerald & Co.
2 questions for ARDX
JH
Julian Harrison
H.C. Wainwright & Co.
2 questions for ARDX
Also covers: AKBA, LQDA, PHIO
MC
Matthew Caufields
H.C. Wainwright
2 questions for ARDX
Prakhar Agrawal
Cantor Fitzgerald
2 questions for ARDX
Also covers: ARWR, IMVT, MDGL +5 more
RC
Roanna Clarissa Ruiz
Leerink Partners
2 questions for ARDX
Also covers: AKBA, AQST, CRMD +5 more
S
Sam
Deutsche Bank
2 questions for ARDX
Also covers: ADC, AUTL, OHI +2 more
T
Thomas...
Guggenheim Securities, LLC
2 questions for ARDX
Also covers: FBK, MYGN, NEO +2 more
YD
Yuchen Ding
H.C. Wainwright & Co.
2 questions for ARDX
Also covers: ABUS, CRNX, RYTM
Allison Bratzel
Piper Sandler Companies
1 question for ARDX
Also covers: ABCL, AKBA, ALXO +7 more
A
Anthea
Jefferies and Company
1 question for ARDX
AL
Anthea Li
Jefferies
1 question for ARDX
Also covers: CRNX, IMVT, PHAT +3 more
Ashleigh Acker
Piper Sandler Companies
1 question for ARDX
Also covers: RIGL
John Kim
BMO Capital Markets
1 question for ARDX
Also covers: AIV, ALX, ARE +34 more
JK
Juan Kim
Citigroup Inc.
1 question for ARDX
MK
Matthew Kaplan
Ladenburg Thalmann
1 question for ARDX
Also covers: AXSM, CORT, ELDN +8 more
PB
Peyton Balthrop
TD Cowen
1 question for ARDX
PO
Peyton Onfijo
TD Cowen
1 question for ARDX
R
Roanna
Leerink Partners
1 question for ARDX
RK
Ronnie Kim
Citigroup
1 question for ARDX
R
Rowena
Leerink Partners
1 question for ARDX
TY
Thomas Yip
H.C. Wainwright & Co.
1 question for ARDX
Also covers: ABUS, ENTA, GALT +6 more
YN
Yigal Nochomovitz
Citigroup Inc.
1 question for ARDX
Also covers: ALDX, APLS, ARCT +22 more
Recent press releases and 8-K filings for ARDX.
Ardelyx Reports Strong 2025 Revenue Growth, Provides 2026 Guidance, and Updates on Pipeline and Patents
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported full-year 2025 total revenues of $407.3 million, a 22% increase from 2024, and concluded the year with $264.7 million in cash, cash equivalents, and short-term investments.
- IBSRELA revenue grew 73% compared to 2024, with Q4 2025 showing 61% year-over-year growth, and the company forecasts 2026 IBSRELA revenues between $410 million and $430 million.
- XPHOZAH revenue was $103.6 million in 2025, a 36% decrease from 2024 primarily due to Medicare Part D reimbursement changes, though total dispenses increased by 9%. 2026 XPHOZAH revenues are projected between $110 million and $120 million.
- Total 2026 operating expenses are expected to increase by approximately 25% to up to $520 million, driven by R&D investments for the ACCEL phase 3 trial and the RDX10531 phase 1 trial, alongside SG&A for IBSRELA growth.
- A new patent for the commercial formulations of IBSRELA and XPHOZAH, expiring in 2042, has been issued and listed in the Orange Book, strengthening the company's intellectual property.
Feb 19, 2026, 9:30 PM
Ardelyx Reports Strong 2025 Results, Provides 2026 Guidance, and Advances Pipeline
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported full-year 2025 total revenue of $407.3 million, a 22% increase from 2024, primarily driven by IBSRELA revenue of $274.2 million, which grew 73% year-over-year.
- For 2026, the company anticipates IBSRELA revenues to be between $410 million and $430 million and XPHOZAH revenues between $110 million and $120 million.
- Ardelyx projects IBSRELA to achieve $1 billion in revenue in 2029 and XPHOZAH to reach $750 million before its method of use patent expires in 2034.
- A new patent for the commercial formulations of IBSRELA and XPHOZAH, expiring in 2042, was issued and listed in the Orange Book.
- The company initiated a Phase 3 clinical trial (ACCEL) to expand the IBSRELA label to include Chronic Idiopathic Constipation (CIC) and plans an IND submission for its next-generation NHE3 inhibitor, RDX10531, in the second half of 2026.
Feb 19, 2026, 9:30 PM
Ardelyx Reports Strong 2025 Financials, IBSRELA Growth, and Provides 2026 Guidance
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported full-year 2025 total revenue of $407.3 million, a 22% increase from 2024, and ended the year with $264.7 million in cash, having generated positive cash flow for two consecutive quarters.
- IBSRELA revenue grew by 73% in 2025 compared to 2024, with 2026 revenue projected between $410 million and $430 million, and is on track to reach $1 billion in revenue by 2029.
- XPHOZAH revenue for 2025 was $103.6 million, a 36% decrease from 2024 due to Medicare reimbursement changes, but is expected to be between $110 million and $120 million in 2026.
- The company expects overall 2026 operating expenses to increase by approximately 25% to up to $520 million to support commercial growth and pipeline advancement.
- Ardelyx initiated a Phase III clinical trial for IBSRELA to expand its label to include Chronic Idiopathic Constipation (CIC) and secured a new patent for IBSRELA and XPHOZAH formulations, extending protection until 2042.
Feb 19, 2026, 9:30 PM
Ardelyx Reports Strong 2025 Financial Results and Provides 2026 Guidance
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported total revenue of $407.3 million for the full year 2025, a 22% increase from 2024, and a net loss of $(61.6) million or $(0.26) per share.
- IBSRELA revenue grew 73% year-over-year to $274.2 million in 2025, with 2026 revenue projected between $410 and $430 million, and a long-term target of $1 billion in annual revenue by 2029.
- XPHOZAH revenue reached $103.6 million in 2025, with 2026 revenue expected to be between $110 and $120 million.
- The company ended 2025 with a strong cash position of $264.7 million in cash, cash equivalents, and short-term investments.
- Ardelyx initiated a Phase 3 trial (ACCEL) for IBSRELA in Chronic Idiopathic Constipation (CIC) in Q1 2026, with enrollment completion expected by the end of 2026 and topline results in the second half of 2027.
Feb 19, 2026, 9:03 PM
Ardelyx Reports Preliminary 2025 Revenue and Provides 2026 Outlook
ARDX
Earnings
Guidance Update
Revenue Acceleration/Inflection
- Ardelyx reported preliminary and unaudited 2025 total product revenue of approximately $378 million, with IBSRELA revenue at $274 million (73% growth over 2024) and XPHOZAH revenue at $104 million.
- For 2026, the company expects IBSRELA revenue between $410 million and $430 million (at least 50% growth) and XPHOZAH revenue between $110 million and $120 million.
- Ardelyx anticipates IBSRELA revenue to reach $1 billion by 2029.
- As of December 31, 2025, Ardelyx held $265 million in cash, cash equivalents, and investments.
- The company commenced a Phase 3 clinical trial for IBSRELA in chronic idiopathic constipation and received a Notice of Allowance for a patent extending intellectual property protection for IBSRELA and XPHOZAH until December 6, 2041.
Jan 8, 2026, 1:30 PM
Ardelyx Discusses Product Growth, Pipeline, and Financial Outlook
ARDX
Guidance Update
New Projects/Investments
Revenue Acceleration/Inflection
- Ardelyx reported a "phenomenal year" for its commercial products, IBSRELA and XPHOZAH, with IBSRELA's guidance increased to $270 million-$275 million (implied FY 2025) and a re-emphasized $1 billion opportunity.
- The company is navigating a "tumultuous period" for XPHOZAH due to the TDAPA period, which ends in 2026, but expects a long-term peak sales potential of $750 million by targeting 60,000 patients.
- Ardelyx is approaching cash flow positivity, excluding stock-based compensation, and ended Q3 with $242 million in cash.
- A new, more potent and soluble NHE3 inhibitor molecule, 531, is in development, with an IND filing expected next year, offering potential lifecycle management for IBSRELA and new indications.
Nov 19, 2025, 4:30 PM
Ardelyx Updates on IBSRELA Growth, XPHOZAH Outlook, and Pipeline at Jefferies Conference
ARDX
Guidance Update
Revenue Acceleration/Inflection
New Projects/Investments
- Ardelyx raised its IBSRELA guidance to $270 million-$275 million for the third quarter and projects a $1 billion opportunity for the drug, driven by strong patient satisfaction and ongoing sales force expansion.
- The company anticipates achieving profitability in 2026, having reported $242 million in cash at the end of Q3 and nearly $1 million in positive cash flow (excluding stock-based compensation).
- Despite current challenges with XPHOZAH due to the TDAPA period ending in 2026, Ardelyx maintains a long-term peak sales guidance of $750 million for the drug.
- Ardelyx announced a new, more potent NHE3 inhibitor, 531, with an Investigational New Drug (IND) filing expected next year, which could serve as lifecycle management for IBSRELA or lead to new indications.
Nov 19, 2025, 4:30 PM
Ardelyx Discusses XPHOZAH Performance, Medicare Appeal, and Pipeline Expansion
ARDX
Legal Proceedings
Product Launch
New Projects/Investments
- Ardelyx's XPHOZAH is demonstrating significant real-world effectiveness in lowering serum phosphorus to previously unattainable levels, with patient satisfaction improving as clinicians manage side effect expectations.
- The appeals court hearing regarding Medicare coverage for XPHOZAH is viewed as a "free call option," with a decision expected by tomorrow or sometime next year. Reinstatement would likely involve prior authorization, similar to its initial launch.
- Ardelyx strategically opted out of the TDAPA period for XPHOZAH to protect its non-Medicare market and avoid negative pricing impacts, noting that CMS did not include XPHOZAH for a base rate increase for providers. The TDAPA period for binders is projected to last two years.
- IBSRELA is experiencing increased new prescriptions (NRX) due to salesforce and field access manager restructuring, alongside effective omnichannel marketing. Ardelyx is also advancing its pipeline with 531, a new molecule with IND submission updates anticipated in 2026.
- Management expects 2026 to be a "breakout year" for Ardelyx, driven by IBSRELA's strong performance and XPHOZAH's continued success in a challenging market, aiming to solidify the company's sustainable growth.
Nov 10, 2025, 4:30 PM
Ardelyx Presents Positive XPHOZAH Real-World Data at ASN Kidney Week
ARDX
- Ardelyx presented real-world study data for XPHOZAH at the American Society of Nephrology’s Kidney Week on November 7, 2025.
- The studies demonstrated that XPHOZAH led to a reduction in serum phosphate in patients with hyperphosphatemia on maintenance dialysis, with nearly half of participants (45.3%) experiencing a ≥1 mg/dL reduction.
- Patient surveys indicated positive experiences with XPHOZAH, with 63% of patients reporting better phosphate levels and improvements in bowel movements and lower pill burden.
- A cost-effectiveness analysis presented by Ardelyx's partner, Kyowa Kirin Co., Ltd., concluded that tenapanor was cost-effective for hemodialysis patients in Japan.
Nov 7, 2025, 9:05 PM
Ardelyx Reports Strong Q3 2025 Results, Raises IBSRELA Guidance, and Announces New Pipeline Asset
ARDX
Earnings
Guidance Update
New Projects/Investments
- Ardelyx reported total revenue of $110.3 million for Q3 2025, marking a 12% increase compared to Q3 2024. This was driven by IBSRELA revenue of $78.2 million, a 92% increase year-over-year, and XPHOZAH revenue of $27.4 million, a 9% increase compared to Q2 2025.
- The company raised its full-year guidance for IBSRELA revenue to between $270 million and $275 million.
- Ardelyx announced RDX 10531 (531), a next-generation NHE3 inhibitor, as its first new development program in over three years, with preclinical and manufacturing activities underway for a Phase I study.
- The company concluded Q3 2025 with a strong balance sheet, including $242.7 million in cash, cash equivalents, and short-term investments, and reported a net loss of approximately $1 million. Suhong Leitner was also welcomed as the new Chief Financial Officer.
Oct 30, 2025, 8:30 PM
Quarterly earnings call transcripts for ARDELYX.
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