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Jun 30, 2025
Ardelyx Q2 2025 Earnings Report
Ardelyx reported strong commercial performance in the second quarter of 2025, with significant revenue growth from IBSRELA and XPHOZAH, and raised its full-year 2025 IBSRELA net sales revenue expectations.
Key Takeaways
Ardelyx delivered an outstanding second quarter in 2025, generating $97.7 million in total revenue, a 33% increase year-over-year. Both commercial products, IBSRELA and XPHOZAH, showed significant results, with IBSRELA recording its highest revenue quarter at $65.0 million and XPHOZAH generating $25.0 million. The company ended the quarter with $238.5 million in cash, cash equivalents, and investments, and raised its 2025 IBSRELA net sales revenue expectations.
Total revenue for Q2 2025 reached $97.7 million, marking a 33% increase compared to Q2 2024.
IBSRELA net sales revenue was $65.0 million, reflecting an 84% year-over-year growth.
XPHOZAH net sales revenue was $25.0 million, showing a 7% quarter-over-quarter increase.
The company's cash, cash equivalents, and investments stood at $238.5 million at the end of Q2 2025.
Revenue by Segment
Forward Guidance
Ardelyx has raised its full-year 2025 IBSRELA net sales revenue expectations and remains focused on commercial execution and bringing medicines to patients.
Positive Outlook
- Raised 2025 IBSRELA net sales revenue expectations to $250-$260 million.
- Confidence in IBSRELA's continued growth.
- Strategy for XPHOZAH access is working, with expected growth for the remainder of 2025.
- Careful management of investments.
- Option to draw additional debt at a reasonable cost.
Challenges Ahead
- No specific negative forward guidance was provided in the report.
- Potential for risks and uncertainties associated with drug development and commercialization.
- Uncertainties in regulatory processes.
- Impact of market dynamics on product sales.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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