Filing Flows › Akebia Therapeutics (AKBA) › Q3 2026 › vs Q2 2026
Akebia Therapeutics (AKBA) Q3 2026 vs Q2 2026 (quarter over quarter)
Akebia Therapeutics's revenue fell $12.2M (-25%) from $49.1M in Q2 2026 to $36.9M in Q3 2026. The biggest changes: Product revenue, net −$11.9M (-26%); License, collaboration and other revenue −$287K (-12%).
Akebia Therapeutics, Q3 2026: revenue $36.9M (-37% year over year), operating margin -31.1%, net loss $14.4M, operating cash flow $2.3M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Free cash flow margin | 4.4% | 5.0% | -0.6 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Auryxia | $20.0M | $25.5M | −$5.4M | -21% |
| Vafseo | $14.8M | $21.3M | −$6.5M | -31% |
| Product revenue, net | $34.8M | $46.8M | −$11.9M | -26% |
| License, collaboration and other revenue | $2.1M | $2.4M | −$287K | -12% |
| Revenue | $36.9M | $49.1M | −$12.2M | -25% |
| Net loss | $14.4M | $8.9M | $5.4M | +61% |
| Costs & expenses | $51.3M | $58.0M | −$6.8M | -12% |
| Operating costs | $48.4M | $55.5M | −$7.1M | -13% |
| Interest & other, net | $2.7M | $2.5M | $205K | +8% |
| Income tax | $175K | $70K | $105K | +150% |
| Cost of revenue | $6.4M | $10.4M | −$4.1M | -39% |
| Research & development | $16.2M | $14.1M | $2.1M | +15% |
| SG&A | $23.5M | $28.2M | −$4.6M | -16% |
| Other operating costs | $2.3M | $2.8M | −$511K | -18% |
| Operating cash sources | $16.7M | $12.4M | $4.3M | +34% |
| Depreciation | $101K | $585K | −$484K | -83% |
| Share-based compensation | $2.8M | $3.2M | −$425K | -13% |
| Working capital & other | $13.8M | $8.6M | $5.2M | +60% |
| Net loss absorbed | $14.4M | $8.9M | $5.4M | +61% |
| Operating cash flow | $2.3M | $3.5M | −$1.2M | -34% |
| Free cash flow (OCF − capex) | $1.6M | $2.4M | −$820K | -34% |
| Capital expenditures | $706K | $1.1M | −$373K | -35% |
Questions
How much did Akebia Therapeutics's revenue grow quarter over quarter in Q3 2026?
Akebia Therapeutics's revenue fell $12.2M (-25%) from $49.1M in Q2 2026 to $36.9M in Q3 2026.
What drove Akebia Therapeutics's revenue change in Q3 2026?
Product revenue, net −$11.9M (-26%); License, collaboration and other revenue −$287K (-12%).