Akebia Therapeutics, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
AKBA$0.54+1.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| (dollars in thousands) | 2026 | 2025 |
| Operating Activities: | ||
| Net income (loss) | $(32,316) | $6,899 |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation | 1,014 | 948 |
| Impairment of fixed assets | 50 | — |
| Bad debt expense | 296 | 1,385 |
| Change in fair value of warrant liability | (1,453) | 5,361 |
| Non-cash royalty revenue related to sale of future royalties | (1,175) | (1,325) |
| Non-cash interest expense | 10,279 | 17,056 |
| Non-cash operating lease expense | 3,955 | 3,381 |
| Write-down of inventory | 5,797 | 645 |
| Gain on the sale of property and equipment | — | (172) |
| Stock-based compensation expense | 9,695 | 8,084 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 10,295 | (33,240) |
| Inventory | (4,848) | (5,707) |
| Prepaid expenses and other current assets | (2,618) | 6,019 |
| Other long-term assets | (671) | 141 |
| Accounts payable | (7,765) | (7,337) |
| Accrued expense and other current liabilities | (5,104) | 34,602 |
| Operating lease liabilities | (2,919) | (4,011) |
| Deferred revenue | 2,277 | 3,881 |
| Other long-term liabilities | (139) | 253 |
| Net cash provided by (used in) operating activities | (15,350) | 36,863 |
| Investing Activities: | ||
| Purchases of equipment | (1,847) | (221) |
| Proceeds from the sale of property and equipment | — | 172 |
| Purchase of IPR&D asset | (4,900) | — |
| Net cash used in investing activities | (6,747) | (49) |
| Financing Activities: | ||
| Proceeds from the issuance of debt and warrants | — | 10,000 |
| Payments of issuance costs related to BlackRock Credit Agreement | — | (63) |
| Proceeds from issuance of common stock, net of issuance costs | 9,811 | 66,449 |
| Proceeds from issuance of stock under employee stock purchase plan | 213 | 230 |
| Proceeds from the exercise of stock options | 356 | 1,621 |
| Repayment of WCF liability | (10,558) | — |
| Repayment of liability related to settlement royalties | (4,110) | — |
| Repayment of term debt | — | (462) |
| Net cash provided by (used in) financing activities | (4,288) | 77,775 |
| Increase (decrease) in cash, cash equivalents and restricted cash | (26,385) | 114,589 |
| Cash, cash equivalents and restricted cash — beginning of period | 186,543 | 53,550 |
| Cash, cash equivalents and restricted cash — end of period | $160,158 | $168,139 |
| Supplemental disclosures of non-cash financing and investing activities | ||
| Purchase of IPR&D asset included in accrued expenses and other current liabilities | 100 | — |
| Cashless exercise of warrants in connection with BlackRock Credit Agreement | — | 7,494 |
| Right-of-use asset obtained in exchange for lease liabilities | 9,965 | — |
| Property and equipment included in accounts payable | 398 | — |
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