For the quarter ending 2026-03-31, ARDX had -$36,790K decrease in cash & cash equivalents over the period. -$32,306K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -37,605 | -407 | -969 | -60,223 |
| Depreciation and amortization expense | 915 | 921 | 905 | 1,233 |
| Non-cash lease expense | 362 | 357 | 336 | 1,254 |
| Stock-based compensation | 14,158 | 12,445 | 12,742 | 23,775 |
| Non-cash interest expense | 1,582 | 2,081 | 2,452 | 4,425 |
| Non-cash royalty revenue related to the sale of future royalties | -695 | -1,350 | -4,789 | -2,406 |
| Other, net | -571 | -762 | -1,068 | -2,083 |
| Accounts receivable | 10,992 | -4,762 | 14,057 | 4,848 |
| Inventory | 4,918 | -6,251 | 6,099 | 32,075 |
| Prepaid commercial manufacturing | 4,394 | 6,428 | -4,689 | -3,638 |
| Prepaid expenses and other assets | 10,004 | -1,478 | -146 | 5,917 |
| Accounts payable | 8,960 | 845 | -3,295 | 5,685 |
| Accrued compensation and benefits | -9,726 | 4,052 | 3,242 | -3,126 |
| Operating lease liabilities | -373 | -353 | -206 | -1,268 |
| Accrued and other liabilities | 19,022 | 2,434 | 4,631 | 7,480 |
| Deferred revenue | 2,042 | -5,375 | 1,705 | 657 |
| Net cash used in operating activities | -32,237 | 20,951 | 365 | -63,799 |
| Proceeds from maturities and redemptions of investments | 37,950 | 55,000 | 63,346 | 93,110 |
| Purchases of investments | 47,876 | 50,863 | 113,699 | 54,361 |
| Purchases of property and equipment | 69 | 361 | 156 | 975 |
| Net cash (used in) provided by investing activities | -9,995 | 3,776 | -50,509 | 37,774 |
| Proceeds from issuance of common stock in at the market offering, net of issuance costs | - | 0 | - | - |
| Proceeds from 2022 loan agreement, net of costs | - | 0 | 0 | 48,668 |
| Proceeds from the sale of future royalties, net of issuance costs | - | 0 | - | - |
| Proceeds from issuance of common stock under equity incentive plans | 5,442 | 557 | 2,814 | 2,470 |
| Payments of the previously outstanding exit fees | - | 0 | - | - |
| Net cash provided by financing activities | 5,442 | 557 | 2,814 | 51,138 |
| Net decrease in cash and cash equivalents | -36,790 | 25,284 | -47,330 | 25,113 |
| Cash and cash equivalents at beginning of period | 67,999 | 42,715 | 64,932 | - |
| Cash and cash equivalents at end of period | 31,209 | 67,999 | 42,715 | - |
ARDELYX, INC. (ARDX)
ARDELYX, INC. (ARDX)