Financial Statements — ARDX
Balance Sheet
(in millions USD)| Metric | Q1
2026 | Q3
2025 | Q2
2025 | Q1
2025 | Q3
2024 | Q2
2024 | Q1
2024 | Q3
2023 | Q2
2023 | Q1
2023 | Q3
2022 | Q2
2022 | Q1
2022 | Q3
2021 | Q2
2021 | Q1
2021 |
|---|
| Cash & Equivalents | 31.21 | 42.72 | 90.05 | 30.81 | 47.43 | 41.89 | 36.15 | 33.77 | 30.06 | 92.49 | 61.63 | 53.41 | 47.08 | 75.29 | 86.75 | 84.07 |
| Accounts Receivable | 82.84 | 76.61 | 62.55 | 46.47 | 53.20 | 37.24 | 28.16 | 43.26 | 9.11 | 12.12 | 5.21 | 5.62 | 4.39 | 0.29 | -- | 5.78 |
| Inventory | 128.03 | 129.36 | 123.26 | 105.88 | 85.16 | 83.43 | 78.86 | 47.50 | 47.91 | 44.95 | 9.77 | 4.53 | 3.49 | -- | -- | -- |
| Total Current Assets | 381.87 | 367.99 | 351.57 | 312.69 | 284.10 | 263.02 | 257.94 | 241.22 | 162.12 | 167.05 | 119.88 | 114.11 | 114.23 | 153.38 | 186.49 | 205.38 |
| Property, Plant & Equipment | 2.00 | 2.07 | 2.14 | 1.67 | 1.03 | 1.02 | 1.02 | 1.12 | 1.06 | 1.10 | 1.29 | 1.54 | 2.05 | 2.65 | 2.67 | 2.29 |
| Total Non-current Assets* | 122.64 | 118.19 | 115.20 | 97.50 | 83.77 | 80.47 | 84.44 | 48.16 | 49.09 | 49.97 | 24.80 | 17.50 | 15.18 | 17.47 | 18.49 | 4.92 |
| Total Assets | 504.51 | 486.17 | 466.77 | 410.19 | 367.86 | 343.49 | 342.38 | 289.38 | 211.20 | 217.02 | 144.67 | 131.61 | 129.41 | 170.85 | 204.98 | 210.29 |
| Accounts Payable | 28.20 | 18.39 | 21.69 | 13.72 | 15.82 | 10.88 | 17.28 | 7.74 | 5.29 | 10.51 | 3.11 | 4.29 | 5.03 | 4.26 | 2.59 | 5.38 |
| Total Current Liabilities | 109.57 | 83.39 | 81.72 | 75.84 | 70.50 | 62.44 | 56.90 | 43.53 | 61.69 | 63.06 | 51.95 | 48.70 | 47.84 | 68.77 | 57.79 | 41.79 |
| Long-term Debt | 203.52 | 202.14 | 201.45 | 151.30 | 100.71 | 100.25 | 99.83 | 27.23 | 27.05 | 26.88 | 26.54 | 26.37 | 26.14 | 51.48 | 51.24 | 51.02 |
| Total Non-current Liabilities* | 246.32 | 248.50 | 245.52 | 188.68 | 139.07 | 134.06 | 134.60 | 54.69 | 26.35 | 28.54 | 25.86 | 29.87 | 17.38 | 20.65 | 29.63 | 37.69 |
| Total Liabilities | 355.89 | 331.89 | 327.24 | 264.52 | 209.57 | 196.50 | 191.49 | 98.22 | 88.04 | 91.60 | 77.81 | 78.57 | 65.22 | 89.42 | 87.41 | 79.48 |
| Retained Earnings | (984.54) | (946.53) | (945.56) | (926.48) | (889.98) | (889.18) | (872.72) | (817.40) | (824.03) | (806.91) | (790.83) | (767.94) | (741.00) | (676.70) | (633.11) | (587.92) |
| Total Stockholder Equity | 148.62 | 154.28 | 139.53 | 145.68 | 158.30 | 146.99 | 150.89 | 191.16 | 123.16 | 125.42 | 66.86 | 53.04 | 64.19 | 81.43 | 117.57 | 130.81 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Total Revenue | 94.47 | 125.22 | 110.33 | 97.66 | 74.11 | 116.13 | 98.24 | 73.22 | 46.02 | 34.36 | 56.39 | 22.33 | 11.37 | 44.18 | 4.99 | 2.53 | 0.47 | 1.03 | 1.17 | 1.31 |
| Cost of Revenue | 4.81 | 10.85 | 3.98 | 12.40 | 12.30 | 18.26 | 15.73 | 9.44 | 7.13 | 5.08 | 7.69 | 3.49 | 1.54 | 3.16 | 0.73 | 0.14 | 0.09 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 89.66 | 114.37 | 106.35 | 85.26 | 61.81 | 97.87 | 82.51 | 63.79 | 38.90 | 29.29 | 48.70 | 18.84 | 9.83 | 41.02 | 4.25 | 2.39 | 0.38 | 1.03 | 1.17 | 1.31 |
| Research & Development | 20.19 | 22.86 | 18.07 | 15.67 | 14.94 | 13.67 | 15.31 | 12.76 | 10.58 | 9.52 | 8.64 | 8.28 | 9.09 | 9.14 | 7.47 | 9.74 | 8.85 | 20.97 | 23.70 | 26.02 |
| Selling, General & Admin | 102.27 | 86.41 | 83.61 | 83.99 | 83.22 | 76.07 | 64.97 | 64.65 | 52.99 | 47.75 | 32.66 | 27.19 | 26.80 | -- | 18.67 | 18.86 | 19.34 | 15.33 | 19.71 | 20.12 |
| Total Operating Expenses | 122.46 | 109.27 | 101.68 | 99.65 | 98.16 | 89.74 | 80.28 | 77.42 | 63.57 | 57.27 | 41.30 | 35.47 | 35.90 | 28.87 | 26.13 | 28.60 | 28.19 | 36.30 | 43.41 | 46.15 |
| Operating Income | (32.79) | 5.10 | 4.67 | (14.39) | (36.35) | 8.13 | 2.23 | (13.63) | (24.68) | (27.99) | 7.40 | (16.62) | (26.06) | 12.14 | (21.88) | (26.21) | (27.81) | (35.27) | (42.24) | (44.83) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | 2.36 | 1.74 | 1.11 | 1.08 | 1.03 | 0.98 | 0.89 | 0.79 | 0.75 | 0.98 | 1.22 | 1.20 |
| Pretax Income | (37.60) | (0.40) | (0.87) | (19.08) | (40.28) | 4.68 | (0.77) | (16.39) | (26.40) | (28.47) | 6.83 | (17.12) | (26.76) | 10.70 | (22.89) | (26.93) | (28.07) | (36.23) | (43.59) | (45.19) |
| Tax Provision | 0.01 | 0.01 | 0.10 | 0.00 | 0.86 | 0.04 | 0.04 | 0.07 | 0.12 | 0.33 | 0.20 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Income | (37.60) | (0.41) | (0.97) | (19.08) | (41.14) | 4.64 | (0.81) | (16.45) | (26.52) | (28.80) | 6.63 | (17.12) | (26.77) | 10.70 | (22.89) | (26.94) | (28.07) | (36.23) | (43.59) | (45.19) |
| Basic EPS | (0.15) | (0.01) | 0.00 | (0.08) | (0.17) | 0.01 | 0.00 | (0.07) | (0.11) | (0.12) | 0.03 | (0.08) | (0.13) | 0.12 | (0.14) | (0.19) | (0.21) | (0.31) | (0.42) | (0.45) |
| Diluted EPS | (0.15) | (0.01) | 0.00 | (0.08) | (0.17) | 0.01 | 0.00 | (0.07) | (0.11) | (0.12) | 0.03 | (0.08) | (0.13) | 0.12 | (0.14) | (0.19) | (0.21) | (0.31) | (0.42) | (0.45) |
Cash Flow Statement
(in millions USD)| Metric | Q1
2026 | Q4
2025 | Q3
2025 | Q2
2025 | Q1
2025 | Q4
2024 | Q3
2024 | Q2
2024 | Q1
2024 | Q4
2023 | Q3
2023 | Q2
2023 | Q1
2023 | Q4
2022 | Q3
2022 | Q2
2022 | Q1
2022 | Q4
2021 | Q3
2021 | Q2
2021 |
|---|
| Operating Cash Flow | (32.24) | 20.95 | 0.37 | (25.34) | (38.46) | 9.81 | 0.50 | (19.40) | (35.72) | (8.72) | (21.47) | (14.74) | (44.79) | 14.28 | (25.43) | (31.28) | (27.62) | (39.47) | (34.59) | (34.28) |
| Capital Expenditures | 0.07 | 0.36 | 0.16 | 0.65 | 0.33 | 0.59 | 0.14 | 0.13 | 0.15 | 0.04 | 0.19 | 0.09 | 0.01 | 0.06 | 0.00 | 0.00 | 0.00 | (0.09) | 0.45 | 0.74 |
| Free Cash Flow* | (32.31) | 20.59 | 0.21 | (25.99) | (38.78) | 9.22 | 0.36 | (19.53) | (35.87) | (8.76) | (21.66) | (14.83) | (44.81) | 14.23 | (25.43) | (31.28) | (27.62) | (39.37) | (35.03) | (35.01) |
| Investing Cash Flow | (9.99) | 3.78 | (50.51) | 34.92 | 2.85 | (41.62) | 2.34 | 23.53 | (2.57) | (29.57) | (32.70) | (59.21) | (9.78) | 1.44 | (0.83) | 15.47 | 2.33 | 22.10 | 18.13 | 8.23 |
| Financing Cash Flow | 5.44 | 0.56 | 2.81 | 49.66 | 1.48 | 49.31 | 2.70 | 1.61 | 52.97 | 25.99 | 57.87 | 11.52 | 50.92 | 18.79 | 34.48 | 22.14 | (0.06) | 14.51 | 5.00 | 28.72 |
* Derived from reported values
