Filing Flows › Akebia Therapeutics (AKBA) › Q4 2025
Akebia Therapeutics (AKBA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Akebia Therapeutics (AKBA) reported revenue of $57.6M for the fourth quarter 2025 (Q4 2025), +24% from a year earlier and -2% from the quarter before. Operating margin was -14.8%, net loss $12.2M (21.2% of revenue).
Akebia Therapeutics, Q4 2025: revenue $57.6M (+24% year over year), operating margin -14.8%, net loss $12.2M, operating cash flow $31.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $57.6M | -2% | +24% |
| Operating profit | −$8.6M | -292% | — |
| Net earnings | −$12.2M | -2367% | — |
| Operating cash flow | $31.1M | +11% | — |
| Free cash flow | $31.1M | +11% | — |
What changed
Revenue was $57.6M in Q4 2025, up 24% year over year and down 2% from the previous quarter. Auryxia was the largest line at 84% of revenue.
Operating costs exceeded revenue by $8.6M, an operating margin of -14.8%. Total costs grew 9% against revenue growth of 24%. The fastest-growing cost line was Research & development (+126%). The quarter ended with a net loss of $12.2M, after a profit of $540K the previous quarter.
Operating cash flow was $31.1M. Non-cash charges added back $321K of depreciation and amortization and $3.2M of share-based compensation. Working capital and other items added $39.9M. Capital expenditures of $70K left free cash flow of $31.1M.
Questions
What was Akebia Therapeutics' revenue in the fourth quarter 2025?
Akebia Therapeutics (AKBA) reported revenue of $57.6M for the fourth quarter 2025 (Q4 2025), +24% from a year earlier and -2% from the quarter before.
Was Akebia Therapeutics profitable in the fourth quarter 2025?
Operating loss was $8.6M (-14.8% of revenue) and net loss $12.2M.