Ardelyx Reports Preliminary 2025 Revenue and Provides 2026 Strategic Outlook

Core Insights - Ardelyx, Inc. achieved significant commercial progress in 2025, generating approximately $378 million in product revenue, representing an 18% year-over-year growth [1][5] - IBSRELA, a key product, generated $274 million in revenue in 2025, reflecting a 73% growth compared to 2024, and is expected to reach $410-430 million in 2026 [1][5] - The long-term outlook for IBSRELA anticipates revenue reaching $1 billion by 2029 [1][5] Financial Highlights - Total product revenue for 2025 was approximately $378 million, with IBSRELA contributing $274 million and XPHOZAH generating $104 million [5] - IBSRELA's revenue for the fourth quarter of 2025 was approximately $87 million, while XPHOZAH's revenue for the same period was about $28 million [5] - The company had $265 million in cash, cash equivalents, and investments as of December 31, 2025, which supports further investments in commercial products and pipeline advancement [5] Financial Guidance and Outlook - IBSRELA's revenue for 2026 is projected to be between $410 million and $430 million, indicating at least a 50% growth compared to 2025 [5] - XPHOZAH's revenue for 2026 is expected to be between $110 million and $120 million [5] - A Phase 3 clinical trial for IBSRELA in chronic idiopathic constipation has commenced, with completion expected in the second half of 2027 [5] - A Notice of Allowance for a patent extending intellectual property protection for IBSRELA and XPHOZAH has been received, with an expiration date of December 6, 2041 [5]