AKBA Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Akebia Therapeutics, Inc. had $236M of revenue in fiscal 2025, up 47.5% on the year before. Over five years, revenue changed β4.3% a year on average.
Last close Β· Oct 23, 2026
$0.57
0.8%Hi! I read Akebia Therapeutics, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+47.5%
Yes. Sales grew 47.5% last year.
Does it make a profit?
β2.3%
No. It lost money last year.
Does profit turn into cash?
28.7%
Yes. 28.7% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
6 / 9
Mixed. It passes 6 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Akebia Therapeutics, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 9, 2026
Monday Β· in 14 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 5, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 7, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Jan 12, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 10, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 7, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 8, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Mar 13, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 7, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Akebia Therapeutics, Inc. had $236M of revenue in fiscal 2025, up 47.5% on the year before. Over five years, revenue changed β4.3% a year on average. Its operating margin was 9.9%, up 41.5Β pts: of every 100 in sales, about 10 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Akebia Therapeutics, Inc. lost $5.3M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was $67.7M in fiscal 2025, 28.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Akebia Therapeutics, Inc. has $137M more cash than debt.
Cash, debt and the ratios that show how comfortably Akebia Therapeutics, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $150M | $90.5M | $42.9M | $51.9M | $185M |
| Debt incl. finance leases | $97.5M | $66.1M | $34.7M | $38.7M | $48.3M |
| Net debt / EBITDA | β | β | β | β | β5.5x |
| Debt / equity | 1.3x | 12.6x | β | β | 1.5x |
| Current ratio | 1.0x | 1.4x | 1.2x | 1.4x | 1.6x |
| Quick ratio | 0.9x | 1.3x | 1.0x | 1.2x | 1.5x |
| Total assets | $529M | $356M | $242M | $221M | $377M |
| Total liabilities | $455M | $351M | $272M | $270M | $344M |
| Shareholders' equity | $74.0M | $5.2M | β$30.6M | β$49.2M | $32.6M |
| Net debt (β = net cash) | β$52.3M | β$24.4M | β$8.2M | β$13.2M | β$137M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Akebia Therapeutics, Inc. passes 6 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 7 | 2 / 7 | 2 / 9 | 3 / 9 | 3 / 9 | 5 / 9 | 3 / 9 | 2 / 9 | 6 / 9 |
| Accruals ratio | β64.5% | β5.3% | β6.8% | β2.5% | β38.8% | β5.0% | β4.8% | β9.5% | β12.4% | β24.6% |
| Altman Z'' | β1.99 | β0.29 | 0.30 | β3.89 | β7.38 | β12.07 | β14.74 | β22.61 | β25.54 | β12.49 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.5M | $181M | $208M | $335M | $295M | $212M | $292M | $195M | $160M | $236M |
| Gross profit | β | β | $200M | $190M | β$1.8M | $61.0M | $207M | $120M | $97.0M | $197M |
| Research and development | $116M | $231M | $291M | $323M | $218M | $148M | $130M | $63.1M | $37.7M | $62.4M |
| Operating income | β$136M | β$76.7M | β$178M | β$286M | β$378M | β$265M | β$80.8M | β$46.3M | β$50.5M | $23.5M |
| Pretax income | β$136M | β$73.7M | β$172M | β$286M | β$385M | β$282M | β$94.2M | β$51.9M | β$69.4M | β$3.7M |
| Income tax | β | β | β$28.3M | β$6.6M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $1.6M |
| Net income | β$136M | β$73.7M | β$144M | β$280M | β$385M | β$282M | β$94.2M | β$51.9M | β$69.4M | β$5.3M |
| Net income to common | β$136M | β | β | β | β | β | β | β | β | β |
| Diluted EPS | β$3.60 | β$1.69 | β$2.47 | β$2.36 | β$2.78 | β$1.70 | β$0.52 | β$0.28 | β$0.33 | β$0.02 |
| Diluted shares | 0.04B | 0.04B | 0.06B | 0.12B | 0.14B | 0.17B | 0.18B | 0.19B | 0.21B | 0.26B |
| Cash flow | ||||||||||
| Cash from operations | $57.9M | β$56.2M | β$97.5M | β$257M | β$110M | β$253M | β$73.2M | β$23.4M | β$40.7M | $68.0M |
| Capital expenditure | $2.7M | $1.6M | $1.6M | $6.7M | $0.3M | $0.1M | $0.1M | $0.0M | $0.0M | $0.3M |
| Free cash flow | $55.2M | β$57.8M | β$99.1M | β$264M | β$111M | β$253M | β$73.3M | β$23.4M | β$40.7M | $67.7M |
| Depreciation and amortization | $0.3M | $0.6M | $0.9M | $2.2M | $2.1M | $1.9M | $1.7M | $1.6M | $1.5M | $1.3M |
| Stock-based compensation | $5.8M | $8.9M | $19.0M | $11.9M | $24.5M | $22.7M | $17.8M | $9.3M | $7.8M | $11.3M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $252M | $288M | $321M | $148M | $229M | $150M | $90.5M | $42.9M | $51.9M | $185M |
| Total debt | β | β | $15.0M | $75.8M | $96.4M | $97.5M | $66.1M | $34.7M | $38.7M | $48.3M |
| Current assets | $296M | $358M | $468M | $310M | $371M | $271M | $185M | $118M | $114M | $253M |
| Current liabilities | $114M | $141M | $266M | $208M | $187M | $261M | $130M | $99.9M | $80.9M | $163M |
| Inventory | β | β | $114M | $116M | $61.0M | $36.6M | $21.6M | $15.7M | $16.2M | $15.6M |
| Property and equipment, net | $2.6M | $3.6M | $8.0M | $10.4M | $8.6M | $6.8M | $5.2M | $3.6M | $2.2M | $1.2M |
| Goodwill | β | β | $55.1M | $55.1M | $55.1M | $59.0M | $59.0M | $59.0M | $59.0M | $59.0M |
| Intangible assets | β | β | $328M | $291M | $144M | $108M | $72.1M | $36.0M | $0.0M | β |
| Total assets | $300M | $364M | $997M | $771M | $644M | $529M | $356M | $242M | $221M | $377M |
| Total liabilities | $232M | $242M | $361M | $376M | $397M | $455M | $351M | $272M | $270M | $344M |
| Preferred stock | β | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $68.1M | $123M | $636M | $393M | $244M | $74.0M | $5.2M | β$30.6M | β$49.2M | $32.6M |
| Margins | ||||||||||
| Gross margin | β | β | 96.3% | 56.6% | β0.6% | 28.8% | 70.7% | 61.9% | 60.6% | 83.3% |
| Operating margin | β8,889.9% | β42.3% | β85.8% | β85.5% | β128.2% | β125.0% | β27.6% | β23.8% | β31.5% | 9.9% |
| EBITDA margin | β8,870.6% | β42.0% | β85.3% | β84.8% | β127.5% | β124.1% | β27.1% | β23.0% | β30.6% | 10.5% |
| Net margin | β8,843.5% | β40.7% | β69.1% | β83.5% | β130.6% | β133.3% | β32.2% | β26.7% | β43.3% | β2.3% |
| FCF margin | 3,599.0% | β31.9% | β47.7% | β78.8% | β37.6% | β119.5% | β25.1% | β12.0% | β25.4% | 28.7% |
| Returns | ||||||||||
| Return on capital | β | β | β42.7% | β70.5% | β266.4% | β960.7% | β | β | β | β |
| Return on capital employed | β73.4% | β34.4% | β24.4% | β50.8% | β82.7% | β98.6% | β35.7% | β32.6% | β36.1% | 11.0% |
| Return on equity | β199.3% | β77.3% | β37.9% | β54.4% | β120.8% | β177.2% | β237.8% | β | β | β |
| Return on assets | β45.2% | β22.2% | β21.1% | β31.6% | β54.4% | β48.1% | β21.3% | β17.4% | β30.0% | β1.8% |
| Return on tangible equity | β199.3% | β60.1% | β56.8% | β600.0% | β852.7% | β | β | β | β | β |
| Growth | ||||||||||
| Revenue growth | β | 11,706.3% | 14.6% | 61.3% | β12.0% | β28.2% | 38.2% | β33.5% | β17.7% | 47.5% |
| FCF growth | β | β204.6% | β | β | β | β | β | β | β | β |
| Share count change | β | 15.3% | 33.4% | 104.0% | 16.9% | 19.9% | 10.1% | 2.6% | 12.5% | 21.9% |
| Financial health | ||||||||||
| Net debt / EBITDA | β | β | β | β | β | β | β | β | β | β5.5x |
| Debt / equity | β | β | 0.0x | 0.2x | 0.4x | 1.3x | 12.6x | β | β | 1.5x |
| Current ratio | 2.6x | 2.5x | 1.8x | 1.5x | 2.0x | 1.0x | 1.4x | 1.2x | 1.4x | 1.6x |
| Quick ratio | 2.6x | 2.5x | 1.3x | 0.9x | 1.7x | 0.9x | 1.3x | 1.0x | 1.2x | 1.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 173.4% | 0.9% | 0.8% | 2.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% |
| Stock comp / revenue | 379.5% | 4.9% | 9.2% | 3.6% | 8.3% | 10.7% | 6.1% | 4.8% | 4.9% | 4.8% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 3.0 | 2.0 | 2.0 | 3.0 | 3.0 | 5.0 | 3.0 | 2.0 | 6.0 |
| Altman Z'' | β2.0 | β0.3 | 0.3 | β3.9 | β7.4 | β12.1 | β14.7 | β22.6 | β25.5 | β12.5 |
| Accruals ratio | β64.5% | β5.3% | β6.8% | β2.5% | β38.8% | β5.0% | β4.8% | β9.5% | β12.4% | β24.6% |
Source: SEC EDGAR XBRL filings (CIK 0001517022). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
