Ardelyx Reports ~$378M In 2025 Product Revenue; IBSRELA Delivers $274M, Up 73% YoY; IBSRELA Guided To $410M-$430M In 2026, $1B By 2029; XPHOZAH Posts $104M In 2025 Revenue; FY26 XPHOZAH Revenue Is Expected To Be Between $110M-$120M

Company achieved significant commercial progress in 2025, generating approximately $378 million in product revenue1

IBSRELA achieved $274 million in revenue in 2025, representing 73% growth vs. 20241

IBSRELA expected to achieve $410-430 million in revenue in 2026

IBSRELA revenue expected to reach $1 billion in 2029

WALTHAM, Mass., Jan. 08, 2026 (GLOBE NEWSWIRE) -- Ardelyx, Inc. (NASDAQ:ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative, first-in-class medicines that meet significant unmet medical needs, today provided its preliminary and unaudited fourth quarter and full year 2025 product revenue, currently expected product revenue for 2026 and updated long-term outlook for IBSRELA, along with recent business updates.

"For Ardelyx, 2025 was a remarkable year characterized by outstanding commercial execution and performance. IBSRELA delivered significant revenue growth of 73% over 2024, and we successfully protected patient access to XPHOZAH. We advanced our pipeline by commencing a Phase 3 program for IBSRELA in chronic idiopathic constipation and began development of a next generation NHE3 inhibitor with RDX10531, creating momentum behind our efforts to continue positioning Ardelyx for durable long-term growth," said Mike Raab, president and chief executive officer. "We enter 2026 exceptionally well positioned to deliver significant growth and long-term value creation as we invest in our business to accelerate our commercial opportunities. We have first-in-class medicines in areas of unmet need, an innovative commercial strategy that continues to deliver exceptional results, strong development capabilities and a robust cash position that will enable us to further advance our portfolio, achieve our vision of bringing important medicines to patients who need them and create meaningful value for shareholders."

Financial Highlights1:

• 2025 total product revenue was approximately $378 million, representing 18% year-over-year growth.
• IBSRELA finished 2025 with full year revenue totaling approximately $274 million, 73% growth compared to 2024, generating revenue of approximately $87 million in the fourth quarter.
• XPHOZAH finished 2025 with revenue totaling approximately $104 million, generating approximately $28 million in revenue in the fourth quarter.
• The company had $265 million in cash, cash equivalents and investments as of December 31, 2025, sufficient to support high impact investments to grow adoption of its commercial products and advance its pipeline.

Financial Guidance and Outlook:

• Full-year 2026 revenue for IBSRELA is expected to be between $410 and $430 million, representing growth of at least 50% compared to 2025.
• 2029 IBSRELA revenue is expected to be $1 billion with continued growth through loss of exclusivity.
• Full-year 2026 XPHOZAH revenue is expected to be between $110 and $120 million.