Ardelyx Product Revenue Rises 19% to $125.5 Million in Third Quarter
Key Facts
Ardelyx reported third-quarter 2026 results on November 3, recording product revenue of $125.5 million, up 19% year over year, according to a statement published through its investor relations site. Sales growth was driven by a 23% increase in IBSRELA revenue to $96.3 million. By comparison, XPHOZAH revenue rose 7% to $29.2 million. Total revenue was $127.655 million, compared with $110.329 million in the third quarter of 2025. The company reported a net loss of $0.7 million, or $0.00 per share as rounded in the statement, compared with a loss of $1.0 million a year earlier.
IBSRELA accounted for most quarterly product revenue, at $96.3 million, while XPHOZAH generated $29.2 million. CEO Mike Raab said annual growth of 23% in IBSRELA drove product revenue above $125 million for the quarter. The two products posted differing growth rates, with IBSRELA revenue up 23% and XPHOZAH revenue up 7% year over year. Product revenue was $105.5 million in the third quarter of 2025 before rising to $125.5 million in the current quarter. The company reported product revenue of $118.1 million in the second quarter of 2026, up 31% year over year.
Ardelyx posted a third-quarter net loss of $0.7 million, or approximately zero per share based on the rounding in the statement, compared with a net loss of $1.0 million in the same period of 2025. The quarterly loss included $15.1 million in stock-based compensation expense. On liquidity, the company said it had more than $285 million in cash and investments. Its statement showed cash, cash equivalents and short-term investments of $285.3 million as of September 30, 2026. The comparable balance was $264.7 million as of December 31, 2025.
Ardelyx maintained its fiscal 2026 IBSRELA revenue outlook at a range of $350 million to $370 million. It also reiterated its XPHOZAH revenue outlook of $110 million to $120 million for the same year. It expects operating expenses to remain below $500 million. Raab said the company sees completion of enrollment in the ACCEL trial as enhancing the product's value. The trial is testing IBSRELA in Phase 3 for the treatment of chronic idiopathic constipation. In August, the company had targeted completing enrollment by the end of 2026 and announcing topline data in the second half of 2027, then said in its third-quarter statement that enrollment was complete ahead of schedule.
In the market, EL7 data showed ARDX closing at $3.03 on November 2, 2026, the session before the results announcement. Available data do not include the session's high and low prices, so that day's trading range cannot be determined. This account also does not provide a share price after the results were released. Investor relations listed an event titled "Ardelyx Third Quarter 2026 Earnings" for November 3 at 4:30 p.m. U.S. Eastern Time. The announcement gave the company an opportunity to present its quarterly results and business update on the same date.