$ARDX
ARDELYX, INC.

2014 Q4 Form 10-Q Financial Statement

#000156459014005236 Filed on November 07, 2014

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2013 Q3
Revenue $6.338M $7.598M $6.593M
YoY Change -25.33% 15.24%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.890M $1.820M $900.0K
YoY Change 232.18% 102.22%
% of Gross Profit
Research & Development $7.390M $5.694M $6.580M
YoY Change -11.39% -13.47%
% of Gross Profit
Depreciation & Amortization $100.0K $70.00K $150.0K
YoY Change 25.0% -53.33%
% of Gross Profit
Operating Expenses $10.27M $7.517M $7.479M
YoY Change 11.56% 0.51%
Operating Profit $81.00K -$886.0K
YoY Change -109.14%
Interest Expense $0.00 $0.00 $0.00
YoY Change -100.0%
% of Operating Profit 0.0%
Other Income/Expense, Net $30.00K -$7.000K -$10.00K
YoY Change -400.0% -30.0%
Pretax Income -$3.900M $74.00K -$899.0K
YoY Change -7.8% -108.23%
Income Tax $70.00K $0.00 $35.00K
% Of Pretax Income 0.0%
Net Earnings -$3.970M $74.00K -$934.0K
YoY Change -7.0% -107.92%
Net Earnings / Revenue -62.64% 0.97% -14.17%
Basic Earnings Per Share -$0.21 $0.00 -$0.81
Diluted Earnings Per Share -$0.21 $0.00 -$0.81
COMMON SHARES
Basic Shares Outstanding 18.54M 18.37M shares 1.156M
Diluted Shares Outstanding 19.13M shares 1.156M

Balance Sheet

Concept 2014 Q4 2014 Q3 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $107.3M $112.0M
YoY Change 211.92%
Cash & Equivalents $107.3M $112.0M $23.53M
Short-Term Investments
Other Short-Term Assets $1.200M $1.700M
YoY Change 20.0%
Inventory
Prepaid Expenses
Receivables $2.584M $2.660M
Other Receivables $0.00 $0.00
Total Short-Term Assets $111.1M $116.4M
YoY Change 165.51%
LONG-TERM ASSETS
Property, Plant & Equipment $2.131M $1.152M
YoY Change 302.08%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $104.0K $200.0K
YoY Change -70.95%
Total Long-Term Assets $2.335M $1.356M
YoY Change 118.63%
TOTAL ASSETS
Total Short-Term Assets $111.1M $116.4M
Total Long-Term Assets $2.335M $1.356M
Total Assets $113.4M $117.7M
YoY Change 164.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.129M $1.022M
YoY Change 37.0%
Accrued Expenses $2.400M $1.900M
YoY Change 140.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $21.54M $19.40M
YoY Change 25.65%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $122.0K $35.00M
YoY Change -99.63%
Total Long-Term Liabilities $122.0K $35.00M
YoY Change -99.63%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.54M $19.40M
Total Long-Term Liabilities $122.0K $35.00M
Total Liabilities $52.73M $54.43M
YoY Change 4.99%
SHAREHOLDERS EQUITY
Retained Earnings -$71.87M -$67.90M
YoY Change 4.68%
Common Stock $132.5M $2.000K
YoY Change 2461.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $60.68M $63.30M
YoY Change
Total Liabilities & Shareholders Equity $113.4M $117.7M
YoY Change 164.34%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2013 Q3
OPERATING ACTIVITIES
Net Income -$3.970M $74.00K -$934.0K
YoY Change -7.0% -107.92%
Depreciation, Depletion And Amortization $100.0K $70.00K $150.0K
YoY Change 25.0% -53.33%
Cash From Operating Activities -$3.790M -$5.680M -$200.0K
YoY Change -134.74% 2740.0%
INVESTING ACTIVITIES
Capital Expenditures -$1.040M -$80.00K -$20.00K
YoY Change 300.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.040M -$80.00K -$20.00K
YoY Change 300.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 70.00K 0.000 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -3.790M -5.680M -200.0K
Cash From Investing Activities -1.040M -80.00K -20.00K
Cash From Financing Activities 70.00K 0.000 0.000
Net Change In Cash -4.760M -5.760M -220.0K
YoY Change -143.63% 2518.18%
FREE CASH FLOW
Cash From Operating Activities -$3.790M -$5.680M -$200.0K
Capital Expenditures -$1.040M -$80.00K -$20.00K
Free Cash Flow -$2.750M -$5.600M -$180.0K
YoY Change -125.21% 3011.11%

Facts In Submission

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dei Document Period End Date
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2014-09-30
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dei Document Fiscal Period Focus
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dei Trading Symbol
TradingSymbol
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dei Entity Registrant Name
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Ardelyx, Inc.
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<div> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with accounting principles generally accepted in the United&#160;States requires management to make estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, clinical trial accruals, income taxes, and stock-based compensation. Management bases its estimates on historical experience and on various other market-specific and relevant assumptions that management believes to be reasonable under the circumstances. Actual results may differ from those estimates. </p></div>
us-gaap Stockholders Equity Reverse Stock Split
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CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1396771
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1162829
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
4084
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
156914
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1065719
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
653666
CY2014Q3 ardx Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVest
1065719
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.03
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
13.95
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
2.21
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.61
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.86
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
1.08
CY2014Q3 ardx Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestWeightedAverageExercisePrice
1.86
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
8583000
CY2014Q3 ardx Share Based Compensation Arrangement By Share Based Payment Award Options Expected To Vest Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpectedToVestIntrinsicValue
13162000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.96
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.70
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.68
CY2014Q3 us-gaap Fair Value Assumptions Exercise Price
FairValueAssumptionsExercisePrice
14.21
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2014Q3 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
133844
CY2013Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
286217
CY2014Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Compensation Cost1
SharebasedCompensationArrangementBySharebasedPaymentAwardCompensationCost1
203000
CY2014Q3 us-gaap Share Based Compensation
ShareBasedCompensation
322000
CY2013Q3 us-gaap Share Based Compensation
ShareBasedCompensation
89000
CY2014Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1000000
CY2013Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
549000
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y4M24D
CY2013 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y9M18D
CY2013Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y22D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y9M15D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y26D
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
1.01
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.98
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0164
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0177
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0135
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
CY2013Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00
us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
757000
CY2014Q3 ardx Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
74000
CY2013Q3 ardx Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-934000
ardx Net Income Loss Available To Common Stockholders Basic And Diluted
NetIncomeLossAvailableToCommonStockholdersBasicAndDiluted
-2295000
CY2014Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
758940
CY2014Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
63888
CY2013Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13304030
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1065719
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13304030
CY2014Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
58000
CY2013Q3 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
60000
CY2014Q3 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
19000
CY2013Q4 us-gaap Accounts Payable Related Parties Current And Noncurrent
AccountsPayableRelatedPartiesCurrentAndNoncurrent
18000
us-gaap Lease Expiration Date1
LeaseExpirationDate1
2019-09-30
ardx Allowance For Lease Improvement
AllowanceForLeaseImprovement
600000
us-gaap Provision For Lease Losses
ProvisionForLeaseLosses
104000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
209000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
843000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
868000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
895000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
921000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
653000
CY2014Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
4389000

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