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Mar 31, 2024
Ardelyx Q1 2024 Earnings Report
Reported $45.6 million in Q1 product-related revenue, driven by IBSRELA and XPHOZAH sales, and ended the quarter with approximately $203 million in cash and investments.
Key Takeaways
Ardelyx reported a strong first quarter in 2024, driven by increased net product sales and product supply revenue. The company saw substantial topline growth due to the continued commercial performance of IBSRELA and the strong launch of XPHOZAH. They thoughtfully managed expenses and ended the quarter with a strong cash position.
Total revenue for the quarter ended March 31, 2024 was $46.0 million, compared to $11.4 million for the quarter ended March 31, 2023.
IBSRELA U.S. net product sales revenue was $28.4 million, compared to $11.4 million during the same period of 2023.
XPHOZAH U.S. net product sales revenue was $15.2 million, with no comparable revenue during the same period of 2023.
As of March 31, 2024, the company had total cash, cash equivalents and short-term investments of $202.6 million, as compared to $184.3 million as of December 31, 2023.
Revenue by Segment
Forward Guidance
Ardelyx currently expects full-year 2024 U.S. net product sales revenue for IBSRELA to be between $140.0 and $150.0 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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