Ardelyx, Inc. (ARDX) Earnings
Ardelyx, Inc. is expected to report next earnings on August 3, 2026 (in NaN days), with a consensus EPS estimate of $-0.02. ARDX has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -25.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 30, 2026 | $-0.13 | $-0.15 | -15.4% | $94M | +1.8% |
| Feb 19, 2026 | $0.02 | $-0.00 | -108.4% | $125M | +16.8% |
| Oct 30, 2025 | $-0.06 | $-0.00 | +93.3% | $110M | -7.3% |
| May 1, 2025 | $-0.10 | $-0.17 | -70.0% | $74M | -6.7% |
| Feb 20, 2025 | $0.02 | $0.02 | +0.0% | $116M | +55.8% |
| Oct 31, 2024 | $-0.05 | $-0.00 | +93.1% | $98M | -9.5% |
| Aug 1, 2024 | $-0.10 | $-0.07 | +30.0% | $73M | +33.1% |
| May 2, 2024 | $-0.13 | $-0.11 | +15.4% | $46M | +26.4% |
| Feb 22, 2024 | $-0.09 | $-0.12 | -33.3% | $34M | +0.4% |
| Aug 2, 2023 | $-0.12 | $-0.08 | +33.3% | $22M | +46.3% |
| May 3, 2023 | $-0.11 | $-0.13 | -18.2% | $11M | +7.3% |
| Mar 2, 2023 | $0.00 | $0.06 | +6085.6% | $44M | +90.6% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 30, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
• Mike Robb mentioned 2026 is a significant growth year, focusing on four key priorities: accelerating Ibsrella growth, maintaining Exposa momentum, building/expanding pipeline, and delivering strong financial results. • Eric Foster discussed Ibsrella's 58% revenue growth, key demand drivers like growing breadth/depth of writing, increasing patient activation, and improving prescription pull-through/fulfillment. Also, Exposa saw 32% increase in total dispenses and 19% increase in paid prescriptions. • Sue Hohenleitner talked about financials, R&D expenses increase for phase three CIC trial, SG&A expenses increase due to commercialization efforts, net loss details, and financial strength with $238.1 million in cash, etc. • Mike also mentioned new additions to the executive team, pipeline progress including Excel Trial for CIC, pediatric program for Ibsrella, and development of next-generation NHG3 inhibitor 531
Guidance
• Reiterated 2026 revenue guidance for Ibsrella between $410 and $430 million, expecting 50%-57% year-over-year growth driven by quarter-over-quarter demand increases and improved prescription pull-through, with long-term goal of at least $1 billion in 2029. • Reiterated Exposa's revenue guidance between $110 and $120 million in 2026, expecting full year product revenues to grow 38%-46%, outpacing operational expenses growing ~25%. • Prioritized capital allocation: accelerating Ibsrella growth as highest ROI use of capital, investing in current pipeline and external business development opportunities, and maintaining financial strength
Segment performance
Ibsrella: In Q1, disciplined commercial execution drove 58% year-over-year revenue growth. Q1 2026 revenues were $70.1 million. Exposa: Revenue in Q1 2026 was $23.3 million. On an as-reported basis, it remained consistent with the prior year revenue. However, when adjusting for a $3.8 million favorable product returns adjustment in Q1 2025, paid prescriptions revenue of Exposa grew 19% year over year. Ibsrella contributed significantly to total product revenues with a 58% growth, and Exposa's revenue was $23.3 million in Q1 2026
Analyst Q&A
Q: How should Ibsrella demand flow through to next quarters in light of current guidance and despite storms?
A: Eric said pleased with Q1 demand, expects quarter-over-quarter growth to continue, confident in team and strategy.
Q: Track towards December enrollment completion target for phase three CIC trial?
A: All pre-identified sites initiated, enrollment at pace on par with TEMPO program, confident in timeframe.
Q: Thoughts on Lilly's phase two study for IBSC and durability of Ibsrella franchise?
A: Mike said follow data, anything helping patients is good, not seeing massive threat to Ibsrella's market.
Q: Details on Ibsrella pediatric trials and patent life?
A: Pediatric trials to show safety, six months of additional patent life significant.
Q: Physician touchpoint differences between CIC and IBS constipation?
A: Mike said CIC market larger, majority patients treated with OTC meds, Eric mentioned targeting in field.
Q: Expansion of field manager level impact on guidance?
A: Field reimbursement managers help with prescription pull-through, impact both breadth and depth of prescribing.
Q: Reiteration of Exposa long-term guide and investments?
A: Reiterated $750 million long-term guide, ensure Exposa continues as financial contributor.
Q: Growth to net for products and cash for profitability?
A: Sue said first quarter likely highest GTN, blended GTN rate low 30s, monitor cash flow.
Q: Which Ibsrella growth driver has most room to grow?
A: Eric said all growth drivers have room to grow, massive opportunity in IBSC market