Ardelyx Q2 revenue up 31% to $118.1M; cuts FY2026 IBSRELA guidance to $350-370M

ARDELYX, INC.

Q2 total product revenue $118.1M (+31% YoY); IBSRELA $86.2M (+33%), XPHOZAH $31.9M (+27%).
Net loss $16.7M ($0.07/sh) vs $19.1M ($0.08) prior year; cash $281.8M.
FY2026 IBSRELA guidance revised to $350-370M; XPHOZAH reiterated $110-120M; OPEX below $500M.
Long-term IBSRELA $1B target remains but timing uncertain; XPHOZAH long-term guidance pulled.
Drew $50M from SLR facility; CMS lawsuit dismissed, not appealing.

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