Filing Flows › Ardelyx (ARDX) › Q3 2026 › vs Q3 2025
Ardelyx (ARDX) Q3 2026 vs Q3 2025 (year over year)
Ardelyx's revenue rose $17.3M (+16%) from $110M in Q3 2025 to $128M in Q3 2026. The biggest changes: Product sales, net +$19.9M (+19%); Non-cash royalty revenue related to the sale of future royalties −$4.2M (-87%); Product supply revenue +$1.4M (—).
Ardelyx, Q3 2026: revenue $128M (+16% year over year), operating margin 3.2%, net loss $737K, operating cash flow $2.2M. The chart draws each line against Q3 2025, the increases inside each band.
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| IBSRELA | $96.3M | $78.2M | $18.1M | +23% |
| XPHOZAH | $29.2M | $27.4M | $1.8M | +7% |
| Product sales, net | $125M | $106M | $19.9M | +19% |
| Product supply revenue | $1.4M | $0 | $1.4M | — |
| Non-cash royalty revenue related to the sale of future royalties | $604K | $4.8M | −$4.2M | -87% |
| Revenue | $128M | $110M | $17.3M | +16% |
| Net loss | $737K | $969K | −$232K | -24% |
| Costs & expenses | $128M | $111M | $17.1M | +15% |
| Operating costs | $124M | $106M | $18.0M | +17% |
| Interest & other, net | $4.7M | $5.5M | −$865K | -16% |
| Income tax | $90K | $102K | −$12K | -12% |
| Cost of revenue | $4.5M | $4.0M | $557K | +14% |
| Research & development | $25.2M | $18.1M | $7.1M | +39% |
| SG&A | $93.9M | $83.6M | $10.3M | +12% |
| Operating cash sources | $15.7M | $13.6M | $2.1M | +15% |
| Depreciation & amortization | $621K | $905K | −$284K | -31% |
| Share-based compensation | $15.1M | $12.7M | $2.4M | +19% |
| Net loss absorbed | $737K | $969K | −$232K | -24% |
| Working capital & other | $12.8M | $12.3M | $501K | +4% |
| Operating cash flow | $2.2M | $365K | $1.8M | +495% |
Questions
How much did Ardelyx's revenue grow year over year in Q3 2026?
Ardelyx's revenue rose $17.3M (+16%) from $110M in Q3 2025 to $128M in Q3 2026.
What drove Ardelyx's revenue change in Q3 2026?
Product sales, net +$19.9M (+19%); Non-cash royalty revenue related to the sale of future royalties −$4.2M (-87%); Product supply revenue +$1.4M (—).