Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $42.0M | $2.61M | $5.28M | $7.57M | $10.1M | $52.2M | $124M | $334M | $407M |
| Revenue growth | — | — | -93.8% | 102.6% | 43.4% | 33.4% | 416.6% | 138.6% | 168.1% | 22.1% |
| Gross profit | — | $33.6M | $2.14M | $4.68M | — | — | — | — | — | — |
| Gross margin | — | 80.0% | 82.1% | 88.6% | — | — | — | — | — | — |
| Operating income | -$113M | -$65.1M | -$90.9M | -$91.3M | -$90.8M | -$154M | -$63.8M | -$63.3M | -$27.9M | -$41.0M |
| Operating margin | — | -155.0% | -3488.6% | -1728.1% | -1199.0% | -1528.6% | -122.2% | -50.8% | -8.4% | -10.1% |
| Net income | -$112M | -$64.3M | -$91.3M | -$94.9M | -$94.3M | -$158M | -$67.2M | -$66.1M | -$39.1M | -$61.6M |
| Net margin | — | -153.2% | -3502.0% | -1797.8% | -1245.7% | -1566.5% | -128.9% | -53.1% | -11.7% | -15.1% |
| EPS (diluted) | -$2.80 | -$1.36 | -$1.62 | -$1.47 | -$1.05 | -$1.52 | -$0.42 | -$0.30 | -$0.17 | -$0.26 |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$92.5M | -$65.2M | -$70.3M | -$76.5M | -$81.4M | -$153M | -$70.0M | -$89.7M | -$44.8M | -$42.5M |
| Capital expenditures | $4.87M | $2.35M | $311K | $325K | $324K | $1.87M | $55.0K | $344K | $1.01M | $1.49M |
| Free cash flow | -$97.4M | -$67.5M | -$70.6M | -$76.8M | -$81.8M | -$154M | -$70.1M | -$90.1M | -$45.8M | -$44.0M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $74.6M | $75.4M | $78.8M | $181M | $91.0M | $72.4M | $96.1M | $21.5M | $64.9M | $68.0M |
| Total assets | $213M | $158M | $183M | $260M | $202M | $150M | $190M | $298M | $436M | $502M |
| Total liabilities | $20.0M | $18.6M | $67.5M | $73.1M | $75.5M | $67.3M | $91.7M | $131M | $262M | $335M |
| Long-term debt | — | — | $52.0M | $50.0M | $50.8M | $32.3M | $26.7M | $49.8M | $151M | $203M |
| Shareholders' equity | $193M | $139M | $116M | $187M | $126M | $82.6M | $98.3M | $167M | $173M | $167M |
| Retained earnings | -$214M | -$278M | -$366M | -$460M | -$555M | -$713M | -$780M | -$846M | -$885M | -$947M |
| Shares (wtd avg diluted) | 47.3M | 47.5M | 62.5M | 64.5M | 89.6M | 104M | 159M | 219M | 235M | 241M |
Every figure is extracted from ARDELYX, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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