What is Akebia Therapeutics, Inc.'s earnings per share (EPS)?

Akebia Therapeutics, Inc. (AKBA) reported diluted earnings per share of -$0.02 for fiscal year 2025. This represents a 93.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Akebia Therapeutics, Inc. (AKBA) Financials

AKBA

Trailing 12 months to June 30, 2026

Revenue $219.1M +7.5% YoY

Net Income -$29.6M +18.8% YoY

EPS (Diluted) -$0.11 +38.9% YoY

Free Cash Flow $40.3M +1678.4% YoY

Market Cap $252.3M as of Oct 5, 2026

Price / Sales 1.2x on $219.1M revenue, trailing 12 months to June 30, 2026

Price / Earnings n/m net loss, so no earnings multiple, trailing 12 months to June 30, 2026

Price / Book 10.1x on $25.0M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 5, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AKBA SEC filings page.

Akebia Therapeutics, Inc. (AKBA) reported $219.1M in revenue over the twelve months to Jun 30, 2026, up 7.5% from the prior twelve months. This page shows its 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).

Rhea AI AKBA FY2025 2026-10-04

Akebia's 2025 numbers show a business that shifted from cash consumption to cash generation as gross-margin expansion outweighed operating costs.

The important change was margin economics: gross margin reached 83.3% in FY2025, turning sales into operating income rather than another operating loss. That margin expansion coincided with operating cash flow of $68.0M while net income remained a net loss of $5.3M, so cash generation outpaced reported earnings.

Operating cash flow of $68.0M nearly matched free cash flow of $67.7M, showing little of the year's cash generation was absorbed by capital spending. Yet financing cash flow was $72.9M, so the cash result also reflects external funding rather than operations alone.

The balance sheet moved from negative equity in FY2024 to positive equity of $32.6M in FY2025, while the current ratio reached 1.6x. Liabilities still totaled $344.0M, and debt-to-equity was 1.5x, so improved working-capital coverage coexists with meaningful obligations.

Financial Health Signals

Financial Health Score 49/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Akebia Therapeutics, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Akebia Therapeutics, Inc. has an operating margin of 10.0%, meaning the company retains $10 of operating profit per $100 of revenue. This below-average margin results in a low score of 23/100, suggesting thin profitability after operating expenses. This is up from -31.5% the prior year.

Growth

Akebia Therapeutics, Inc.'s revenue surged 47.5% year-over-year to $236.2M, reflecting rapid business expansion. This strong growth earns a score of 65/100.

Leverage

Akebia Therapeutics, Inc. 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 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Akebia Therapeutics, Inc.'s current ratio of 1.55 indicates adequate short-term liquidity, earning a score of 43/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Akebia Therapeutics, Inc. has a free cash flow margin of 28.7%, earning a moderate score of 42/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Akebia Therapeutics, Inc. posts a -16.3% return on equity (ROE), meaning it loses $16 for every $100 of shareholders' equity. This results in a returns score of 22/100.

Altman Z-Score Distress

-4.70

Akebia Therapeutics, Inc. scores -4.70, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($252.3M) relative to total liabilities ($344.0M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral

6/9

Akebia Therapeutics, Inc. 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.

Earnings Quality Mixed

N/A

Akebia Therapeutics, Inc. reported a net loss of $5.3M while generating $68.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.

Interest Coverage At Risk

0.97x

Akebia Therapeutics, Inc. earns $0.97 in operating income for every $1 of interest expense ($23.5M vs $24.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$49.1M

YoY-21.4%

QoQ-8.2%

5Y CAGR-1.5%

Akebia Therapeutics, Inc. generated $49.1M in revenue in Q2 2026. This represents a decrease of 21.4% from the same quarter a year earlier. Against the prior quarter it is down 8.2%.

EBITDA

-$5.7M

YoY-139.9%

QoQ-31.4%

Akebia Therapeutics, Inc.'s EBITDA was -$5.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 139.9% from the same quarter a year earlier. Against the prior quarter it is down 31.4%.

Net Income

-$8.9M

YoY-3706.5%

QoQ+1.6%

Akebia Therapeutics, Inc. reported -$8.9M in net income in Q2 2026. This represents a decrease of 3706.5% from the same quarter a year earlier. Against the prior quarter it is up 1.6%.

EPS (Diluted)

-$0.03

QoQ0.0%

Akebia Therapeutics, Inc. earned -$0.03 per diluted share (EPS) in Q2 2026. It is unchanged from the prior quarter.

Cash & Balance Sheet

Free Cash Flow

$2.4M

YoY-89.0%

QoQ+111.5%

Akebia Therapeutics, Inc. generated $2.4M in free cash flow in Q2 2026, representing cash available after capex. This represents a decrease of 89.0% from the same quarter a year earlier. Against the prior quarter it is up 111.5%.

Cash & Debt

$155.5M

YoY+13.3%

QoQ-4.4%

5Y CAGR-8.8%

10Y CAGR+12.9%

Akebia Therapeutics, Inc. held $155.5M in cash against $24.8M in long-term debt as of Q2 2026.

Shares Outstanding

277M

YoY+4.5%

QoQ+3.3%

5Y CAGR+9.7%

10Y CAGR+22.0%

Akebia Therapeutics, Inc. had 277M shares outstanding in Q2 2026. This represents an increase of 4.5% from the same quarter a year earlier. Against the prior quarter it is up 3.3%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

78.8%

YoY-5.3pp

QoQ+1.7pp

5Y change+78.0pp

Akebia Therapeutics, Inc.'s gross margin was 78.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 5.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.7 percentage points.

Operating Margin

-12.9%

YoY-35.4pp

QoQ-4.1pp

Akebia Therapeutics, Inc.'s operating margin was -12.9% in Q2 2026, reflecting core business profitability. This is down 35.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 4.1 percentage points.

Net Margin

-18.1%

YoY-18.5pp

QoQ-1.2pp

Akebia Therapeutics, Inc.'s net profit margin was -18.1% in Q2 2026, showing the share of revenue converted to profit. This is down 18.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.2 percentage points.

Return on Equity

-35.6%

YoY-36.5pp

QoQ-2.5pp

Akebia Therapeutics, Inc.'s ROE was -35.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 36.5 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.5 percentage points.

Capital Allocation

R&D Spending

$14.1M

YoY+27.7%

QoQ-5.1%

5Y CAGR-17.7%

Akebia Therapeutics, Inc. invested $14.1M in research and development in Q2 2026. This represents an increase of 27.7% from the same quarter a year earlier. Against the prior quarter it is down 5.1%.

Capital Expenditures

$1.1M

YoY+756.3%

QoQ+1640.3%

10Y CAGR-1.5%

Akebia Therapeutics, Inc. invested $1.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 756.3% from the same quarter a year earlier. Against the prior quarter it is up 1640.3%.

Share Buybacks

Not reported for Q2 2026.

AKBA Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AKBA quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Revenue	$219.1M	$236.2M+47.5%	$160.2M-17.7%	$194.6M-33.5%	$292.5M+38.2%	$211.7M-28.2%	$294.6M-12.0%	$335.0M+61.3%	$207.7M+14.6%	$181.2M+11706.3%	$1.5M	$0	$0	N/A	N/A
Cost of Revenue	$44.6M	$39.5M-37.5%	$63.2M-14.8%	$74.1M-13.3%	$85.6M-43.2%	$150.7M-49.2%	$296.5M+172.2%	$108.9M+1642.7%	$6.3M	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	$174.4M	$196.7M+102.8%	$97.0M-19.5%	$120.5M-41.8%	$206.9M+239.3%	$61.0M+3426.7%	-$1.8M-100.8%	$226.1M+12.2%	$201.5M	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$70.5M	$62.4M+65.6%	$37.7M-40.3%	$63.1M-51.5%	$130.0M-12.1%	$147.9M-32.3%	$218.5M-32.4%	$323.0M+11.0%	$291.0M+26.0%	$230.9M+99.4%	$115.8M+169.2%	$43.0M+84.9%	$23.3M+161.3%	$8.9M+58.1%	$5.6M
SG&A Expenses	$113.8M	$107.5M+0.9%	$106.5M+6.3%	$100.2M-27.7%	$138.6M-20.4%	$174.1M+13.0%	$154.1M+3.1%	$149.5M+71.7%	$87.1M+222.4%	$27.0M+21.6%	$22.2M+20.1%	$18.5M+26.0%	$14.7M+108.7%	$7.0M+143.2%	$2.9M
Operating Income	-$15.1M	$23.5M+146.6%	-$50.5M-9.1%	-$46.3M+42.7%	-$80.8M+69.5%	-$264.5M+30.0%	-$377.8M-32.0%	-$286.3M-60.7%	-$178.2M-132.4%	-$76.7M+43.8%	-$136.5M-121.8%	-$61.5M-62.1%	-$37.9M-138.1%	-$15.9M-86.9%	-$8.5M
EBITDA	N/A	$24.8M+291.0%	-$13.0M-50.3%	-$8.6M+89.1%	-$79.1M+69.9%	-$262.6M+30.1%	-$375.8M-32.3%	-$284.0M-60.2%	-$177.3M-133.1%	-$76.1M+44.1%	-$136.2M-121.7%	-$61.4M-62.1%	-$37.9M-137.8%	-$15.9M-86.9%	-$8.5M
Interest Expense	$17.3M	$24.2M+33.0%	$18.2M+201.5%	$6.0M-61.5%	$15.7M-21.3%	$19.9M+124.7%	$8.9M	N/A	N/A	N/A	N/A	$510K+147.6%	$206K+129.3%	-$704K+57.2%	-$1.6M
Income Tax	$1.8M	$1.6M	$0	$0	$0	$0	$0+100.0%	-$6.6M+76.6%	-$28.3M	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$29.6M	-$5.3M+92.4%	-$69.4M-33.7%	-$51.9M+44.9%	-$94.2M+66.6%	-$282.0M+26.7%	-$384.8M-37.6%	-$279.7M-94.8%	-$143.6M-94.9%	-$73.7M+45.7%	-$135.7M-123.6%	-$60.7M-63.9%	-$37.0M-181.3%	-$13.2M-60.7%	-$8.2M
EPS (Basic)	N/A	-$0.02+93.9%	-$0.33-17.9%	-$0.28+46.2%	-$0.52+69.4%	-$1.70+38.8%	-$2.78-17.8%	-$2.36	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	-$0.11	-$0.02+93.9%	-$0.33-17.9%	-$0.28+46.2%	-$0.52+69.4%	-$1.70+38.8%	-$2.78-17.8%	-$2.36	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	257M+21.9%	211M+12.5%	187M+2.6%	183M+10.1%	166M+19.9%	138M+16.9%	118M	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$49.1M-21.4%	$53.5M-6.6%	$57.6M+23.9%	$58.8M+57.0%	$62.5M+43.1%	$57.3M+75.8%	$46.5M-17.3%	$37.4M-11.0%
Cost of Revenue	$10.4M+5.1%	$12.3M+61.2%	$12.5M-38.4%	$9.4M-33.7%	$9.9M-41.8%	$7.6M-34.3%	$20.4M+9.1%	$14.2M-21.4%
Gross Profit	$38.7M-26.4%	$41.3M-17.0%	$45.1M+72.5%	$49.4M+112.2%	$52.6M+97.6%	$49.7M+136.7%	$26.1M-30.4%	$23.3M-3.2%
R&D Expenses	$14.1M+27.7%	$14.8M+51.8%	$26.6M+126.1%	$14.9M+76.1%	$11.0M+44.0%	$9.8M+0.2%	$11.8M+19.5%	$8.5M-36.3%
SG&A Expenses	$28.2M+6.1%	$30.4M+18.2%	$26.1M-5.7%	$29.1M+9.7%	$26.6M-1.3%	$25.7M+1.2%	$27.7M+8.8%	$26.5M+16.8%
Operating Income	-$6.3M-144.9%	-$4.7M-134.7%	-$8.6M+40.2%	$4.4M+135.6%	$14.1M+261.5%	$13.5M+190.5%	-$14.3M-1142.0%	-$12.5M+4.1%
EBITDA	-$5.7M-139.9%	-$4.4M-131.6%	-$8.2M-66.6%	$4.8M+251.7%	$14.4M+2034.1%	$13.8M+348.7%	-$4.9M-145.7%	-$3.1M+13.7%
Interest Expense	$3.1M-55.1%	$4.7M-39.6%	$4.8M-29.8%	$4.7M-28.7%	$6.8M+218.0%	$7.8M+211.0%	$6.9M+384.6%	$6.7M+372.4%
Income Tax	$70K	$126K	$1.0M	$615K	$0	$0	N/A	$0
Net Income	-$8.9M-3706.5%	-$9.1M-248.1%	-$12.2M+46.5%	$540K+102.7%	$247K+102.9%	$6.1M+134.0%	-$22.8M-3678.3%	-$20.0M-38.3%
EPS (Basic)	-$0.03	-$0.03-200.0%	-$0.05+54.5%	$0.00+100.0%	$0.00+100.0%	$0.03+133.3%	-$0.11	-$0.10-25.0%
EPS (Diluted)	-$0.03	-$0.03-200.0%	-$0.05+54.5%	$0.00+100.0%	$0.00+100.0%	$0.03+133.3%	-$0.11	-$0.10-25.0%
Diluted Shares (Avg)	270M-0.6%	267M+10.5%	N/A	274M+30.4%	271M+29.3%	242M+17.9%	N/A	210M+11.7%

AKBA Balance Sheet

AKBA quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Total Assets	$376.6M+70.6%	$220.7M-8.7%	$241.7M-32.1%	$356.1M-32.7%	$529.3M-17.8%	$644.1M-16.5%	$771.2M-22.6%	$996.5M+173.6%	$364.2M+21.3%	$300.2M+110.0%	$142.9M+28.8%	$111.0M+220.2%	$34.7M	N/A
Current Assets	$253.0M+122.2%	$113.8M-3.7%	$118.1M-36.2%	$185.2M-31.7%	$271.1M-27.0%	$371.4M+20.0%	$309.5M-33.9%	$468.3M+30.7%	$358.4M+20.9%	$296.3M+110.1%	$141.0M+27.6%	$110.5M+230.5%	$33.4M	N/A
Cash & Equivalents	$184.8M+256.4%	$51.9M+20.8%	$42.9M-52.6%	$90.5M-39.6%	$149.8M-34.5%	$228.7M+55.1%	$147.4M+40.9%	$104.6M+49.2%	$70.2M-62.6%	$187.3M+276.3%	$49.8M+51.9%	$32.8M+54.5%	$21.2M+1192.8%	$1.6M
Short-Term Investments	$0	$0	$0	$0	$0	$0-100.0%	$245K-99.9%	$216.8M-0.5%	$217.9M+234.8%	$65.1M+66.5%	$39.1M+7.7%	$36.3M+219.9%	$11.3M	$0
Inventory	$15.6M-3.9%	$16.2M+3.5%	$15.7M-27.2%	$21.6M-41.1%	$36.6M-40.0%	$61.0M-47.6%	$116.3M+1.8%	$114.2M	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$47.0M+36.8%	$34.4M-12.5%	$39.3M-2.5%	$40.3M-21.9%	$51.6M+92.1%	$26.9M-30.9%	$38.9M+133.2%	$16.7M-51.3%	$34.2M+1.2%	$33.8M	N/A	$48K-64.4%	$135K	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$245K-99.2%	$29.8M+274.9%	$7.9M-84.0%	$49.6M+24.5%	$39.9M	$0	$0
Goodwill	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M+7.2%	$55.1M0.0%	$55.1M0.0%	$55.1M	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$344.0M+27.5%	$269.9M-0.9%	$272.3M-22.4%	$350.8M-23.0%	$455.3M+14.8%	$396.5M+5.3%	$376.4M+4.4%	$360.6M+49.2%	$241.7M+4.1%	$232.1M+1843.5%	$11.9M+72.6%	$6.9M-95.7%	$161.7M	N/A
Current Liabilities	$162.9M+101.4%	$80.9M-19.0%	$99.9M-22.9%	$129.5M-50.4%	$261.1M+39.5%	$187.1M-10.1%	$208.1M-21.7%	$265.7M+88.3%	$141.1M+23.5%	$114.3M+862.8%	$11.9M+72.4%	$6.9M+76.4%	$3.9M	N/A
Non-Current Liabilities	$181.0M-4.2%	$188.9M+9.6%	$172.4M-22.1%	$221.3M+13.9%	$194.3M-7.2%	$209.4M+24.4%	$168.3M+77.3%	$94.9M-5.6%	$100.6M-14.6%	$117.8M+159127.0%	$74K+131.3%	$32K-100.0%	$157.8M	N/A
Long-Term Debt	$48.3M+24.7%	$38.7M+125.2%	$17.2M-49.6%	$34.1M	N/A	$96.4M+27.1%	$75.8M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$32.6M+166.3%	-$49.2M-60.8%	-$30.6M-684.8%	$5.2M-92.9%	$74.0M-69.7%	$244.4M-37.8%	$392.9M-38.2%	$635.9M+418.8%	$122.6M+79.9%	$68.1M-48.0%	$131.0M+25.9%	$104.1M+181.9%	-$127.1M-113.3%	-$59.6M
Retained Earnings	-$1.7B-0.3%	-$1.7B-4.3%	-$1.6B-3.3%	-$1.6B-6.4%	-$1.5B-24.2%	-$1.2B-48.3%	-$794.1M-54.4%	-$514.4M-38.7%	-$370.8M-24.8%	-$297.1M-84.1%	-$161.4M-60.3%	-$100.7M+20.8%	-$127.1M	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$349.7M+1.2%	$362.5M+16.9%	$376.6M+70.6%	$364.2M+75.8%	$345.6M+56.9%	$310.2M+37.6%	$220.7M-8.7%	$207.1M-11.9%
Current Assets	$229.6M-2.2%	$243.5M+19.5%	$253.0M+122.2%	$258.3M+158.0%	$234.7M+109.3%	$203.8M+80.4%	$113.8M-3.7%	$100.1M-8.7%
Cash & Equivalents	$155.5M+13.3%	$162.6M+43.5%	$184.8M+256.4%	$166.4M+389.3%	$137.3M+247.6%	$113.4M+170.2%	$51.9M+20.8%	$34.0M-26.9%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$13.0M-22.1%	$13.0M-34.1%	$15.6M-3.9%	$18.6M-9.0%	$16.7M-30.0%	$19.7M-22.7%	$16.2M+3.5%	$20.5M+11.1%
Accounts Receivable	$53.5M-26.5%	$62.5M+1.6%	$47.0M+36.8%	$66.2M+105.9%	$72.8M+144.6%	$61.5M+131.2%	$34.4M-12.5%	$32.2M+42.4%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%	$59.0M0.0%
Total Liabilities	$324.6M+2.6%	$335.1M+17.3%	$344.0M+27.5%	$322.6M+25.2%	$316.4M+24.6%	$285.6M+13.0%	$269.9M-0.9%	$257.5M-6.1%
Current Liabilities	$160.9M+35.5%	$173.9M+90.6%	$162.9M+101.4%	$133.4M+103.0%	$118.7M+10.6%	$91.2M+37.2%	$80.9M-19.0%	$65.7M-17.6%
Non-Current Liabilities	$163.8M-17.1%	$161.3M-17.0%	$181.0M-4.2%	$189.2M-1.4%	$197.7M+34.8%	$194.4M+4.4%	$188.9M+9.6%	$191.8M-1.5%
Long-Term Debt	$24.8M-47.4%	$36.4M-21.7%	$48.3M+24.7%	$47.6M+24.2%	$47.1M+23.7%	$46.5M+54.3%	$38.7M+125.2%	$38.4M+10.8%
Total Equity	$25.0M-14.4%	$27.4M+11.4%	$32.6M+166.3%	$41.6M+182.5%	$29.2M+186.6%	$24.6M+190.2%	-$49.2M-60.8%	-$50.4M-27.9%
Retained Earnings	-$1.7B-1.8%	-$1.7B-1.2%	-$1.7B-0.3%	-$1.7B-1.0%	-$1.7B-2.2%	-$1.7B-2.8%	-$1.7B-4.3%	-$1.7B-2.9%

AKBA Cash Flow Statement

AKBA quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Operating Cash Flow	$41.6M	$68.0M+267.2%	-$40.7M-73.9%	-$23.4M+68.0%	-$73.2M+71.1%	-$253.0M-129.2%	-$110.4M+57.1%	-$257.4M-164.1%	-$97.5M-73.6%	-$56.2M-197.0%	$57.9M+210.5%	-$52.4M-90.7%	-$27.5M-142.5%	-$11.3M-57.1%	-$7.2M
Depreciation & Amortization	N/A	$1.3M-96.6%	$37.5M-0.3%	$37.6M+2174.9%	$1.7M-14.2%	$1.9M-7.1%	$2.1M-7.6%	$2.2M+149.7%	$899K+45.7%	$617K+108.4%	$296K+208.3%	$96K+95.9%	$49K+4800.0%	$1K	$0
Stock-Based Compensation	N/A	$11.3M+45.1%	$7.8M-16.6%	$9.3M-47.8%	$17.8M-21.5%	$22.7M-7.1%	$24.5M+105.1%	$11.9M-37.4%	$19.0M+114.7%	$8.9M+52.2%	$5.8M+23.6%	$4.7M-21.6%	$6.0M+284.3%	$1.6M+1182.0%	$122K
Capital Expenditures	$1.3M	$291K+781.8%	$33K	$0-100.0%	$114K+93.2%	$59K-81.4%	$317K-95.2%	$6.7M+314.4%	$1.6M-1.0%	$1.6M-39.1%	$2.7M+543.0%	$414K+80.8%	$229K+1105.3%	$19K	N/A
Free Cash Flow	$40.3M	$67.7M+266.4%	-$40.7M-74.0%	-$23.4M+68.1%	-$73.3M+71.0%	-$253.0M-128.6%	-$110.7M+58.1%	-$264.1M-166.5%	-$99.1M-71.5%	-$57.8M-204.6%	$55.2M+204.6%	-$52.8M-90.6%	-$27.7M-144.1%	-$11.4M	N/A
Investing Cash Flow	-$12.1M	-$7.9M-23918.2%	-$33K	$0+100.0%	-$114K-100.3%	$39.9M+199.8%	-$40.0M-118.9%	$211.2M+477.1%	$36.6M+120.6%	-$177.3M-1495.2%	$12.7M	N/A	N/A	N/A	N/A
Financing Cash Flow	-$11.2M	$72.9M+46.8%	$49.7M+297.0%	-$25.2M-272.7%	$14.6M-89.1%	$133.7M-42.3%	$231.7M+160.4%	$89.0M-7.9%	$96.6M-16.9%	$116.2M+73.6%	$66.9M	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	N/A	N/A	N/A	N/A	$162K	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$3.5M-84.2%	-$21.2M-56.1%	$31.1M+797.0%	$28.1M+519.8%	$22.3M+322.0%	-$13.6M+30.1%	-$4.5M-93.5%	-$6.7M+6.6%
Depreciation & Amortization	$585K+85.1%	$328K+4.5%	$321K-96.6%	$318K-96.6%	$316K-96.6%	$314K-96.7%	$9.3M-0.6%	$9.4M-0.4%
Stock-Based Compensation	$3.2M+20.6%	$3.7M+67.7%	N/A	$3.2M+95.7%	$2.7M+29.2%	$2.2M-7.3%	N/A	$1.6M-9.8%
Capital Expenditures	$1.1M+756.3%	$62K+244.4%	$70K+3400.0%	$77K+3750.0%	$126K+334.5%	$18K	$2K	$2K
Free Cash Flow	$2.4M-89.0%	-$21.3M-56.3%	$31.1M+795.1%	$28.0M+518.5%	$22.2M+320.1%	-$13.6M+30.0%	-$4.5M-93.6%	-$6.7M+6.6%
Investing Cash Flow	-$4.1M-3137.3%	-$62K-140.3%	-$7.9M-393750.0%	-$77K-3750.0%	-$126K-334.5%	$154K	-$2K	-$2K
Financing Cash Flow	-$6.5M-480.1%	-$926K-101.2%	-$4.8M-121.7%	$1.1M-9.0%	$1.7M-77.5%	$74.9M+305.6%	$22.3M+1830.6%	$1.2M+2346.0%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

AKBA Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AKBA quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K
Gross Margin	83.3%+22.7pp	60.6%-1.3pp	61.9%-8.8pp	70.7%+41.9pp	28.8%+29.4pp	-0.6%-68.1pp	67.5%-29.5pp	97.0%	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	10.0%+41.5pp	-31.5%-7.7pp	-23.8%+3.9pp	-27.6%	-125.0%	-128.2%	-85.5%+0.3pp	-85.8%-43.5pp	-42.3%	-8889.9%	N/A	N/A	N/A	N/A
Net Margin	-2.2%+41.1pp	-43.3%-16.7pp	-26.7%+5.5pp	-32.2%	-133.2%	-130.6%	-83.5%-14.4pp	-69.1%-28.5pp	-40.6%	-8843.5%	N/A	N/A	N/A	N/A
Return on Equity	-16.3%	N/A	N/A	-1801.2%-1420.1pp	-381.0%-223.6pp	-157.5%-86.3pp	-71.2%-48.6pp	-22.6%+37.5pp	-60.1%+139.2pp	-199.3%-152.9pp	-46.4%-10.8pp	-35.6%	N/A	N/A
Return on Assets	-1.4%+30.0pp	-31.4%-10.0pp	-21.5%+5.0pp	-26.5%+26.8pp	-53.3%+6.5pp	-59.8%-23.5pp	-36.3%-21.8pp	-14.4%+5.8pp	-20.2%+25.0pp	-45.2%-2.7pp	-42.5%-9.1pp	-33.4%+4.6pp	-38.0%	N/A
Current Ratio	1.55+0.1x	1.41+0.2x	1.18-0.2x	1.43+0.4x	1.04-0.9x	1.98+0.5x	1.49-0.3x	1.76-0.8x	2.54-0.1x	2.59-9.3x	11.88-4.2x	16.05+7.5x	8.57	N/A
Debt-to-Equity	1.48	N/A	N/A	6.52+0.4x	6.15+5.8x	0.39+0.2x	0.19-0.4x	0.57-1.4x	1.97-1.4x	3.41+3.3x	0.090.0x	0.07	N/A	N/A
Asset Turnover	0.63-0.1x	0.73-0.1x	0.810.0x	0.82+0.4x	0.40-0.1x	0.460.0x	0.43+0.2x	0.21-0.3x	0.50+0.5x	0.010.0x	0.000.0x	0.00	N/A	N/A
FCF Margin	28.7%+54.1pp	-25.4%-13.4pp	-12.0%+13.0pp	-25.1%	-119.5%	-37.6%+41.3pp	-78.8%-31.1pp	-47.7%-15.8pp	-31.9%	3599.0%	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	78.8%-5.3pp	77.0%-9.7pp	78.3%+22.0pp	84.0%+21.9pp	84.1%+23.2pp	86.7%+22.3pp	56.2%-10.6pp	62.2%+5.0pp
Operating Margin	-12.9%-35.4pp	-8.8%-32.3pp	-14.8%+15.9pp	7.6%+41.0pp	22.6%+42.5pp	23.6%+69.4pp	-30.8%-33.2pp	-33.4%-2.4pp
Net Margin	-18.1%-18.5pp	-16.9%-27.6pp	-21.2%+27.9pp	0.9%+54.5pp	0.4%+20.1pp	10.7%+65.8pp	-49.0%-50.2pp	-53.5%-19.1pp
Return on Equity	-35.6%-36.5pp	-33.1%-57.9pp	-37.4%	1.3%	0.9%	24.9%	N/A	N/A
Return on Assets	-2.5%-2.6pp	-2.5%-4.5pp	-3.2%+7.1pp	0.1%+9.8pp	0.1%+4.0pp	2.0%+9.9pp	-10.3%-10.6pp	-9.7%-3.5pp
Current Ratio	1.43-0.5x	1.40-0.8x	1.55+0.1x	1.94+0.4x	1.98+0.9x	2.23+0.5x	1.41+0.2x	1.52+0.1x
Debt-to-Equity	0.99-0.6x	1.33-0.6x	1.48	1.15	1.61	1.89	N/A	N/A
Asset Turnover	0.140.0x	0.150.0x	0.15-0.1x	0.160.0x	0.180.0x	0.180.0x	0.210.0x	0.180.0x
FCF Margin	5.0%-30.6pp	-39.7%-16.0pp	53.9%+63.5pp	47.7%+65.6pp	35.6%+58.7pp	-23.7%+35.9pp	-9.6%-5.5pp	-17.9%-0.8pp

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Akebia Therapeutics, Inc. AKBA	FY2025	$236.2M	-$5.3M	-2.2%	$252.3M	49/100
SIGA Technologies, Inc. SIGA	FY2025	$94.6M	$23.3M	24.6%	$242.9M	59/100
Organogenesis Holdings Inc. ORGO	FY2025	$564.2M	$37.0M	6.6%	$171.1M	53/100
Aquestive Therapeutics, Inc. AQST	FY2025	$44.5M	-$83.8M	N/A	$571.1M	35/100
Esperion Therapeutics, Inc. ESPR	FY2025	$403.1M	-$22.7M	-5.6%	$819.5M	30/100
Dynavax Technologies Corporation DVAX	FY2024	$277.2M	$27.3M	9.8%	$1.8B	54/100

Where Akebia Therapeutics, Inc. Ranks

Frequently Asked Questions

What is Akebia Therapeutics, Inc.'s annual revenue?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s revenue growing?

Akebia Therapeutics, Inc. (AKBA) revenue grew by 47.5% year-over-year, from $160.2M to $236.2M in fiscal year 2025.

Is Akebia Therapeutics, Inc. profitable?

No, Akebia Therapeutics, Inc. (AKBA) reported a net income of -$5.3M in fiscal year 2025, with a net profit margin of -2.2%.

What is Akebia Therapeutics, Inc.'s EBITDA?

Akebia Therapeutics, Inc. (AKBA) had EBITDA of $24.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Akebia Therapeutics, Inc. have?

As of fiscal year 2025, Akebia Therapeutics, Inc. (AKBA) had $184.8M in cash and equivalents against $48.3M in long-term debt.

What is Akebia Therapeutics, Inc.'s gross margin?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s operating margin?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s net profit margin?

Akebia Therapeutics, Inc. (AKBA) had a net profit margin of -2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Akebia Therapeutics, Inc.'s return on equity (ROE)?

Akebia Therapeutics, Inc. (AKBA) has a return on equity of -16.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Akebia Therapeutics, Inc.'s free cash flow?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s operating cash flow?

Akebia Therapeutics, Inc. (AKBA) generated $68.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Akebia Therapeutics, Inc.'s total assets?

Akebia Therapeutics, Inc. (AKBA) had $376.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Akebia Therapeutics, Inc.'s capital expenditures?

Akebia Therapeutics, Inc. (AKBA) invested $291K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Akebia Therapeutics, Inc. spend on research and development?

Akebia Therapeutics, Inc. (AKBA) invested $62.4M in research and development during fiscal year 2025.

How many shares does Akebia Therapeutics, Inc. have outstanding?

Akebia Therapeutics, Inc. (AKBA) had 268M shares outstanding as of fiscal year 2025.

What is Akebia Therapeutics, Inc.'s current ratio?

Akebia Therapeutics, Inc. (AKBA) had a current ratio of 1.55 as of fiscal year 2025, which is generally considered healthy.

What is Akebia Therapeutics, Inc.'s debt-to-equity ratio?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s return on assets (ROA)?

Akebia Therapeutics, Inc. (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 Therapeutics, Inc.'s P/E ratio?

Akebia Therapeutics, Inc. (AKBA) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $252.3M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Akebia Therapeutics, Inc.'s price-to-sales ratio?

Akebia Therapeutics, Inc. (AKBA) trades at 1.2x sales, its market capitalization divided by revenue of $219.1M revenue, trailing 12 months to June 30, 2026. The market capitalization is $252.3M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Akebia Therapeutics, Inc.'s Altman Z-Score?

Akebia Therapeutics, Inc. (AKBA) has an Altman Z-Score of -4.70, 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 Therapeutics, Inc.'s Piotroski F-Score?

Akebia Therapeutics, Inc. (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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Akebia Therapeutics, Inc.'s earnings high quality?

Akebia Therapeutics, Inc. (AKBA) reported a net loss of $5.3M while generating $68.0M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. 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.

Can Akebia Therapeutics, Inc. cover its interest payments?

Akebia Therapeutics, Inc. (AKBA) has an interest coverage ratio of 0.97x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Akebia Therapeutics, Inc.?

Akebia Therapeutics, Inc. (AKBA) scores 49 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.