Akebia Therapeut Financials
This page shows Akebia Therapeut (AKBA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Akebia Therapeut has an operating margin of 10.0%, meaning the company retains $10 of operating profit per $100 of revenue. This results in a moderate score of 44/100, indicating healthy but not exceptional operating efficiency. This is up from -31.5% the prior year.
Akebia Therapeut's revenue surged 47.5% year-over-year to $236.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Akebia Therapeut carries a low D/E ratio of 1.48, meaning only $1.48 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 72/100, indicating a strong balance sheet with room for future borrowing.
Akebia Therapeut's current ratio of 1.55 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 27/100, which could limit financial flexibility.
Akebia Therapeut converts 28.7% of revenue into free cash flow ($67.7M). This strong cash generation earns a score of 97/100.
Akebia Therapeut generates a -16.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
Akebia Therapeut scores -4.49, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($369.7M) relative to total liabilities ($344.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Akebia Therapeut passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Akebia Therapeut generates $-12.72 in operating cash flow ($68.0M OCF vs -$5.3M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Akebia Therapeut generated $236.2M in revenue in fiscal year 2025. This represents an increase of 47.5% from the prior year.
Akebia Therapeut's EBITDA was $24.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 291.0% from the prior year.
Akebia Therapeut reported -$5.3M in net income in fiscal year 2025. This represents an increase of 92.3% from the prior year.
Akebia Therapeut earned $-0.02 per diluted share (EPS) in fiscal year 2025. This represents an increase of 93.9% from the prior year.
Cash & Balance Sheet
Akebia Therapeut generated $67.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 266.4% from the prior year.
Akebia Therapeut held $184.8M in cash against $48.3M in long-term debt as of fiscal year 2025.
Akebia Therapeut had 265M shares outstanding in fiscal year 2025. This represents an increase of 18.0% from the prior year.
Margins & Returns
Akebia Therapeut's gross margin was 83.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 22.7 percentage points from the prior year.
Akebia Therapeut's operating margin was 10.0% in fiscal year 2025, reflecting core business profitability. This is up 41.5 percentage points from the prior year.
Akebia Therapeut's net profit margin was -2.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 41.1 percentage points from the prior year.
Akebia Therapeut's ROE was -16.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
Akebia Therapeut invested $62.4M in research and development in fiscal year 2025. This represents an increase of 65.6% from the prior year.
Akebia Therapeut invested $291K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 781.8% from the prior year.
AKBA Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $57.6M-1.9% | $58.8M-5.9% | $62.5M+9.0% | $57.3M+23.3% | $46.5M+24.2% | $37.4M-14.3% | $43.6M+33.9% | $32.6M |
| Cost of Revenue | $12.5M+33.6% | $9.4M-5.4% | $9.9M+30.1% | $7.6M-62.6% | $20.4M+43.8% | $14.2M-16.9% | $17.0M+46.9% | $11.6M |
| Gross Profit | $45.1M-8.7% | $49.4M-6.0% | $52.6M+5.7% | $49.7M+90.2% | $26.1M+12.3% | $23.3M-12.5% | $26.6M+26.7% | $21.0M |
| R&D Expenses | $26.6M+78.3% | $14.9M+35.7% | $11.0M+12.9% | $9.8M-17.2% | $11.8M+38.9% | $8.5M+11.0% | $7.6M-21.4% | $9.7M |
| SG&A Expenses | $26.1M-10.3% | $29.1M+9.6% | $26.6M+3.2% | $25.7M-7.0% | $27.7M+4.4% | $26.5M-1.5% | $26.9M+5.8% | $25.4M |
| Operating Income | -$8.6M-292.2% | $4.4M-68.4% | $14.1M+4.3% | $13.5M+194.5% | -$14.3M-14.4% | -$12.5M-43.3% | -$8.7M+41.6% | -$14.9M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | N/A | $615K | N/A | N/A | N/A | $0 | N/A | N/A |
| Net Income | -$12.2M-2367.4% | $540K+118.6% | $247K-96.0% | $6.1M+126.8% | -$22.8M-13.8% | -$20.0M-133.5% | -$8.6M+52.3% | -$18.0M |
| EPS (Diluted) | N/A | $0.00 | $0.00-100.0% | $0.03 | N/A | $-0.10-150.0% | $-0.04+55.6% | $-0.09 |
AKBA Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $376.6M+3.4% | $364.2M+5.4% | $345.6M+11.4% | $310.2M+40.6% | $220.7M+6.5% | $207.1M-5.9% | $220.2M-2.3% | $225.5M |
| Current Assets | $253.0M-2.1% | $258.3M+10.1% | $234.7M+15.2% | $203.8M+79.0% | $113.8M+13.7% | $100.1M-10.7% | $112.1M-0.7% | $112.9M |
| Cash & Equivalents | $184.8M+11.1% | $166.4M+21.2% | $137.3M+21.1% | $113.4M+118.6% | $51.9M+52.5% | $34.0M-13.9% | $39.5M-5.9% | $42.0M |
| Inventory | $15.6M-16.3% | $18.6M+11.6% | $16.7M-15.3% | $19.7M+21.5% | $16.2M-20.7% | $20.5M-14.2% | $23.9M-6.5% | $25.5M |
| Accounts Receivable | $47.0M-29.0% | $66.2M-9.0% | $72.8M+18.3% | $61.5M+79.1% | $34.4M+6.8% | $32.2M+8.1% | $29.8M+11.8% | $26.6M |
| Goodwill | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M0.0% | $59.0M |
| Total Liabilities | $344.0M+6.6% | $322.6M+2.0% | $316.4M+10.8% | $285.6M+5.8% | $269.9M+4.8% | $257.5M+1.4% | $253.9M+0.5% | $252.7M |
| Current Liabilities | $162.9M+22.2% | $133.4M+12.4% | $118.7M+30.1% | $91.2M+12.7% | $80.9M+23.1% | $65.7M-38.8% | $107.3M+61.4% | $66.5M |
| Long-Term Debt | $48.3M+1.3% | $47.6M+1.2% | $47.1M+1.2% | $46.5M+20.2% | $38.7M+0.9% | $38.4M+0.9% | $38.0M+26.2% | $30.1M |
| Total Equity | $32.6M-21.6% | $41.6M+42.3% | $29.2M+18.9% | $24.6M+150.0% | -$49.2M+2.4% | -$50.4M-49.3% | -$33.8M-23.8% | -$27.3M |
| Retained Earnings | -$1.7B-0.7% | -$1.7B0.0% | -$1.7B0.0% | -$1.7B+0.4% | -$1.7B-1.4% | -$1.7B-1.2% | -$1.6B-0.5% | -$1.6B |
AKBA Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $31.1M+10.8% | $28.1M+25.8% | $22.3M+264.5% | -$13.6M-204.2% | -$4.5M+33.3% | -$6.7M+33.5% | -$10.1M+48.2% | -$19.4M |
| Capital Expenditures | $70K-9.1% | $77K-38.9% | $126K+600.0% | $18K+800.0% | $2K0.0% | $2K-93.1% | $29K | $0 |
| Free Cash Flow | $31.1M+10.8% | $28.0M+26.1% | $22.2M+263.3% | -$13.6M-204.5% | -$4.5M+33.3% | -$6.7M+33.7% | -$10.1M+48.0% | -$19.4M |
| Investing Cash Flow | -$7.9M-10129.9% | -$77K+38.9% | -$126K-181.8% | $154K+7800.0% | -$2K0.0% | -$2K+93.1% | -$29K | $0 |
| Financing Cash Flow | -$4.8M-535.6% | $1.1M-35.3% | $1.7M-97.7% | $74.9M+235.7% | $22.3M+1725.4% | $1.2M-84.0% | $7.6M-58.6% | $18.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
AKBA Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 78.3%-5.8pp | 84.0%-0.1pp | 84.1%-2.6pp | 86.7%+30.5pp | 56.2%-6.0pp | 62.2%+1.2pp | 60.9%-3.5pp | 64.4% |
| Operating Margin | -14.8%-22.4pp | 7.6%-15.0pp | 22.6%-1.0pp | 23.6%+54.3pp | -30.8%+2.6pp | -33.4%-13.4pp | -20.0%+25.8pp | -45.8% |
| Net Margin | -21.3%-22.2pp | 0.9%+0.5pp | 0.4%-10.3pp | 10.7%+59.7pp | -49.0%+4.5pp | -53.5%-33.9pp | -19.7%+35.5pp | -55.2% |
| Return on Equity | -37.5%-38.9pp | 1.3%+0.4pp | 0.9%-24.0pp | 24.9% | N/A | N/A | N/A | N/A |
| Return on Assets | -3.3%-3.4pp | 0.1%+0.1pp | 0.1%-1.9pp | 2.0%+12.3pp | -10.3%-0.7pp | -9.7%-5.8pp | -3.9%+4.1pp | -8.0% |
| Current Ratio | 1.55-0.4 | 1.94-0.0 | 1.98-0.3 | 2.23+0.8 | 1.41-0.1 | 1.52+0.5 | 1.04-0.7 | 1.70 |
| Debt-to-Equity | 1.48+0.3 | 1.15-0.5 | 1.61-0.3 | 1.89+2.7 | -0.79-0.0 | -0.76+0.4 | -1.13-0.0 | -1.11 |
| FCF Margin | 53.9%+6.2pp | 47.7%+12.1pp | 35.6%+59.3pp | -23.7%-14.1pp | -9.6%+8.3pp | -17.9%+5.2pp | -23.1%+36.5pp | -59.6% |
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Frequently Asked Questions
What is Akebia Therapeut's annual revenue?
Akebia Therapeut (AKBA) reported $236.2M in total revenue for fiscal year 2025. This represents a 47.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Akebia Therapeut's revenue growing?
Akebia Therapeut (AKBA) revenue grew by 47.5% year-over-year, from $160.2M to $236.2M in fiscal year 2025.
Is Akebia Therapeut profitable?
No, Akebia Therapeut (AKBA) reported a net income of -$5.3M in fiscal year 2025, with a net profit margin of -2.3%.
What is Akebia Therapeut's EBITDA?
Akebia Therapeut (AKBA) had EBITDA of $24.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Akebia Therapeut have?
As of fiscal year 2025, Akebia Therapeut (AKBA) had $184.8M in cash and equivalents against $48.3M in long-term debt.
What is Akebia Therapeut's gross margin?
Akebia Therapeut (AKBA) had a gross margin of 83.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Akebia Therapeut's operating margin?
Akebia Therapeut (AKBA) had an operating margin of 10.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Akebia Therapeut's net profit margin?
Akebia Therapeut (AKBA) had a net profit margin of -2.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Akebia Therapeut's return on equity (ROE)?
Akebia Therapeut (AKBA) has a return on equity of -16.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Akebia Therapeut's free cash flow?
Akebia Therapeut (AKBA) generated $67.7M in free cash flow during fiscal year 2025. This represents a 266.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Akebia Therapeut's operating cash flow?
Akebia Therapeut (AKBA) generated $68.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Akebia Therapeut's total assets?
Akebia Therapeut (AKBA) had $376.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Akebia Therapeut's capital expenditures?
Akebia Therapeut (AKBA) invested $291K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Akebia Therapeut spend on research and development?
Akebia Therapeut (AKBA) invested $62.4M in research and development during fiscal year 2025.
What is Akebia Therapeut's current ratio?
Akebia Therapeut (AKBA) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.
What is Akebia Therapeut's debt-to-equity ratio?
Akebia Therapeut (AKBA) had a debt-to-equity ratio of 1.48 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Akebia Therapeut's return on assets (ROA)?
Akebia Therapeut (AKBA) had a return on assets of -1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Akebia Therapeut's Altman Z-Score?
Akebia Therapeut (AKBA) has an Altman Z-Score of -4.49, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Akebia Therapeut's Piotroski F-Score?
Akebia Therapeut (AKBA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Akebia Therapeut's earnings high quality?
Akebia Therapeut (AKBA) has an earnings quality ratio of -12.72x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Akebia Therapeut?
Akebia Therapeut (AKBA) scores 57 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.