Filing Flows › Ardelyx (ARDX) › Q2 2026 › vs Q2 2025
Ardelyx (ARDX) Q2 2026 vs Q2 2025 (year over year)
Ardelyx's revenue rose $23.2M (+24%) from $97.7M in Q2 2025 to $121M in Q2 2026. The biggest changes: Product sales, net +$28.1M (+31%); Product supply revenue −$4.2M (-68%); Non-cash royalty revenue related to the sale of future royalties −$704K (-51%).
Ardelyx, Q2 2026: revenue $121M (+24% year over year), operating margin -10.3%, net loss $16.7M, operating cash flow −$6.4M. The chart draws each line against Q2 2025, the increases inside each band.
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| IBSRELA | $86.2M | $65.0M | $21.2M | +33% |
| XPHOZAH | $31.9M | $25.0M | $6.9M | +27% |
| Product sales, net | $118M | $90.1M | $28.1M | +31% |
| Product supply revenue | $2.0M | $6.2M | −$4.2M | -68% |
| Non-cash royalty revenue related to the sale of future royalties | $676K | $1.4M | −$704K | -51% |
| Licensing revenue | $96K | $20K | $76K | +380% |
| Revenue | $121M | $97.7M | $23.2M | +24% |
| Net loss | $16.7M | $19.1M | −$2.4M | -12% |
| Costs & expenses | $138M | $117M | $20.9M | +18% |
| Operating costs | $133M | $112M | $21.2M | +19% |
| Interest & other, net | $4.2M | $4.7M | −$497K | -11% |
| Income tax | $110K | $1K | $109K | 110× |
| Cost of revenue | $5.8M | $12.4M | −$6.6M | -54% |
| Research & development | $26.1M | $15.7M | $10.4M | +67% |
| SG&A | $101M | $84.0M | $17.5M | +21% |
| Operating cash sources | $22.3M | $37.7M | −$15.3M | -41% |
| Depreciation & amortization | $604K | $631K | −$27K | -4% |
| Share-based compensation | $15.3M | $11.7M | $3.6M | +31% |
| Cash used in operations | $6.4M | $25.3M | −$18.9M | -75% |
| Net loss absorbed | $16.7M | $19.1M | −$2.4M | -12% |
| Working capital & other | $5.6M | $18.6M | −$13.0M | -70% |
Questions
How much did Ardelyx's revenue grow year over year in Q2 2026?
Ardelyx's revenue rose $23.2M (+24%) from $97.7M in Q2 2025 to $121M in Q2 2026.
What drove Ardelyx's revenue change in Q2 2026?
Product sales, net +$28.1M (+31%); Product supply revenue −$4.2M (-68%); Non-cash royalty revenue related to the sale of future royalties −$704K (-51%).