Financial Statements — ARDX
Balance Sheet
(in billions USD)| Metric | Q2
2026 | 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 | 0.10 | 0.03 | 0.04 | 0.09 | 0.03 | 0.05 | 0.04 | 0.04 | 0.03 | 0.03 | 0.09 | 0.06 | 0.05 | 0.05 | 0.08 | 0.09 | 0.08 |
| Accounts Receivable | 0.10 | 0.08 | 0.08 | 0.06 | 0.05 | 0.05 | 0.04 | 0.03 | 0.04 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | -- | 0.01 |
| Inventory | 0.14 | 0.13 | 0.13 | 0.12 | 0.11 | 0.09 | 0.08 | 0.08 | 0.05 | 0.05 | 0.04 | 0.01 | 0.00 | 0.00 | -- | -- | -- |
| Total Current Assets | 0.44 | 0.38 | 0.37 | 0.35 | 0.31 | 0.28 | 0.26 | 0.26 | 0.24 | 0.16 | 0.17 | 0.12 | 0.11 | 0.11 | 0.15 | 0.19 | 0.21 |
| Property, Plant & Equipment | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Total Non-current Assets* | 0.13 | 0.12 | 0.12 | 0.12 | 0.10 | 0.08 | 0.08 | 0.08 | 0.05 | 0.05 | 0.05 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.00 |
| Total Assets | 0.58 | 0.50 | 0.49 | 0.47 | 0.41 | 0.37 | 0.34 | 0.34 | 0.29 | 0.21 | 0.22 | 0.14 | 0.13 | 0.13 | 0.17 | 0.20 | 0.21 |
| Accounts Payable | 0.04 | 0.03 | 0.02 | 0.02 | 0.01 | 0.02 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 |
| Total Current Liabilities | 0.13 | 0.11 | 0.08 | 0.08 | 0.08 | 0.07 | 0.06 | 0.06 | 0.04 | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.07 | 0.06 | 0.04 |
| Long-term Debt | 0.25 | 0.20 | 0.20 | 0.20 | 0.15 | 0.10 | 0.10 | 0.10 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.05 | 0.05 | 0.05 |
| Total Non-current Liabilities* | 0.29 | 0.25 | 0.25 | 0.25 | 0.19 | 0.14 | 0.13 | 0.13 | 0.05 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.02 | 0.03 | 0.04 |
| Total Liabilities | 0.43 | 0.36 | 0.33 | 0.33 | 0.26 | 0.21 | 0.20 | 0.19 | 0.10 | 0.09 | 0.09 | 0.08 | 0.08 | 0.07 | 0.09 | 0.09 | 0.08 |
| Retained Earnings | (1.00) | (0.98) | (0.95) | (0.95) | (0.93) | (0.89) | (0.89) | (0.87) | (0.82) | (0.82) | (0.81) | (0.79) | (0.77) | (0.74) | (0.68) | (0.63) | (0.59) |
| Total Stockholder Equity | 0.15 | 0.15 | 0.15 | 0.14 | 0.15 | 0.16 | 0.15 | 0.15 | 0.19 | 0.12 | 0.13 | 0.07 | 0.05 | 0.06 | 0.08 | 0.12 | 0.13 |
* Derived from reported values
Income Statement
(in millions USD) (except per-share rows)| Metric | Q2
2026 | 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 |
|---|
| Total Revenue | 120.88 | 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 |
| Cost of Revenue | 5.76 | 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 |
| Gross Profit | 115.12 | 89.66 | 114.37 | 106.35 | 85.26 | 61.81 | 97.87 | 82.51 | 102.68 | 38.90 | 29.29 | 48.70 | 18.84 | 9.83 | 41.02 | 4.25 | 2.39 | 0.38 | 1.03 | 1.17 |
| Research & Development | 26.10 | 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 |
| Selling, General & Admin | 101.44 | 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 |
| Total Operating Expenses | 127.54 | 122.46 | 109.27 | 101.68 | 99.65 | 98.16 | 89.74 | 80.28 | 140.99 | 63.57 | 57.27 | 41.30 | 35.47 | 35.90 | 28.87 | 26.13 | 28.60 | 28.19 | 36.30 | 43.41 |
| Operating Income | (12.42) | (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) |
| Interest Expense | -- | -- | -- | -- | -- | -- | -- | -- | -- | 2.36 | 1.74 | 1.11 | 1.08 | 1.03 | 0.98 | 0.89 | 0.79 | 0.75 | 0.98 | 1.22 |
| Pretax Income | (16.61) | (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) |
| Tax Provision | 0.11 | 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 |
| Net Income | (16.72) | (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) |
| Basic EPS | (0.07) | (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) |
| Diluted EPS | (0.07) | (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) |
Cash Flow Statement
(in millions USD)| Metric | Q2
2026 | 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 |
|---|
| Operating Cash Flow | (6.40) | (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) |
| Capital Expenditures | 0.01 | 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 |
| Free Cash Flow* | (6.41) | (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) |
| Investing Cash Flow | 22.66 | (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 |
| Financing Cash Flow | 49.72 | 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 |
* Derived from reported values
