Akebia Therapeutics, Inc.

AKBA

Akebia Therapeutics, Inc.

AKBA

Insider Sentiment (TTM):

Last Purchase:2026-03-04Last Sale:2026-02-02Shares Purchased (TTM):69,270Shares Sold (TTM):648,039

Institutional Sentiment:

As of:2026-03-31Institutional Shares Owned:98,707,775Shares Outstanding:267,046,755Institutional Ownership Pct.:36.96%

Earnings Market Reaction:

Filing Date:2026-05-07Price on Filing Date:N/APrevious Close:N/A% Change:N/A

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Akebia Therapeutics, Inc. (AKBA) — SEC Financial Statements & Analysis

Akebia Therapeutics, Inc. (AKBA) files its annual 10-K and quarterly 10-Q reports directly with the SEC. The financial data below is sourced as-filed from EDGAR — balance sheet, income statement, and cash flow as reported, without normalization or third-party adjustments.

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Financial Statements

10‑Q10‑K

Values in Millions ($)	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Assets
Assets Current
Cash And Cash Equivalents At Carrying Value	163	185	166	137	113	52	34	39	42	43	47	54
Inventory Net	13	16	19	17	20	16	20	24	26	16	18	21
Accounts Receivable Net Current	63	47	66	73	62	34	32	30	27	39	23	20
Prepaid Expense And Other Assets Current	5	5	7	8	9	11	13	19	19	20	22	24
Assets Current	243	253	258	235	204	114	100	112	113	118	110	118
Property Plant And Equipment Net	1	1	1	2	2	2	3	3	3	4	4	4
Operating Lease Right Of Use Asset	2	4	5	6	7	8	9	10	11	12	13	14
Goodwill	59	59	59	59	59	59	59	59	59	59	59	59
Intangible Assets Net Excluding Goodwill	-	-	-	-	-	0	9	18	27	36	45	54
Other Assets Noncurrent	57	60	40	44	38	37	27	18	12	12	4	3
Assets	363	377	364	346	310	221	207	220	225	242	235	254
Liabilities And Stockhold…
Liabilities Current
Accounts Payable Current	8	21	10	12	13	15	13	10	12	15	9	12
Accrued Liabilities Current	125	122	106	92	71	63	52	54	54	68	63	56
Contract With Customer Liability Current	4	3	4	6	1	0	-	43	1	0	0	0
Long Term Debt Current	12	-	-	-	-	0	0	0	0	18	8	24
Contract With Customer Refund Liability Current	23	17	13	10	6	2	-	-	-	0	-	-
Liabilities Current	174	163	133	119	91	81	66	107	66	100	80	92
Operating Lease Liability Noncurrent	-	0	0	1	2	4	5	6	8	9	10	11
Derivative Liabilities	-	-	-	-	-	-	-	-	-	0	1	1
Long Term Debt Noncurrent	36	48	48	47	47	39	38	38	30	17	35	18
Contract With Customer Liability Noncurrent	-	-	-	-	-	0	0	0	43	43	43	43
Contract With Customer Refund Liability Noncurrent	16	23	28	31	34	38	40	40	40	40	40	41
Derivative Liabilities Noncurrent	3	3	5	14	7	5	4	3	5	0	-	-
Other Liabilities Noncurrent	1	2	5	5	5	5	5	7	7	9	9	17
Liabilities	335	344	323	316	286	270	258	254	253	272	274	281
Stockholders Equity
Preferred Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Value	0	0	0	0	0	0	0	0	0	0	0	0
Additional Paid In Capital Common Stock	1,720	1,716	1,713	1,701	1,697	1,629	1,605	1,602	1,600	1,578	1,570	1,568
Accumulated Other Comprehensive Income Loss Net Of…	0	0	0	0	0	0	0	0	0	0	0	0
Retained Earnings Accumulated Deficit	-1,693	-1,684	-1,671	-1,672	-1,672	-1,678	-1,656	-1,636	-1,627	-1,609	-1,610	-1,595
Stockholders Equity	27	33	42	29	25	-49	-50	-34	-27	-31	-39	-27
Liabilities And Stockholders Equity	363	377	364	346	310	221	207	220	225	242	235	254
Preferred Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Authorized	25	25	25	25	25	25	25	25	25	25	25	25
Preferred Stock Shares Issued	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Shares Outstanding	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Par Or Stated Value Per Share	0	0	0	0	0	0	0	0	0	0	0	0
Common Stock Shares Authorized	350	350	350	350	350	350	350	350	350	350	350	350
Common Stock Shares Issued	268	265	265	263	262	225	212	210	209	195	188	188
Shares Outstanding	268	265	265	263	262	225	212	210	209	195	188	188

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Earnings Market Reaction

10‑Q10‑K

Fiscal Year	Q1 1 Month	Q1 2 Month	Q1 3 Month	Q2 1 Month	Q2 2 Month	Q2 3 Month	Q3 1 Month	Q3 2 Month	Q3 3 Month	Q4 1 Month	Q4 2 Month	Q4 3 Month
2026	-13.56%	-3.39%	-	-	-	-	-	-	-	-	-	-
2025	15.65%	39.31%	35.88%	4.32%	-8.97%	0.66%	-7.78%	-7.19%	-15.57%	7.58%	6.44%	-19.70%
2024	-15.79%	-23.31%	8.27%	30.25%	11.76%	33.61%	10.46%	4.56%	27.61%	4.73%	44.97%	79.29%
2023	3.77%	-13.68%	49.06%	-14.49%	-39.86%	-27.54%	11.46%	29.17%	68.75%	8.76%	0.00%	-18.25%
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Performance and Valuation Metrics

Metrics	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30
Liquidity Ratios
Current Ratio	1.40	1.55	1.94	1.98	2.23	1.41	1.52	1.04	1.70	1.18	1.38	1.28
Quick Ratio	1.30	1.42	1.74	1.77	1.92	1.07	1.01	0.65	1.03	0.82	0.87	0.79
Working Capital	69.60M	90.02M	124.96M	115.94M	112.56M	32.92M	34.41M	4.80M	46.46M	18.28M	29.90M	26.26M
Leverage & Debt
Debt to Equity	12.24	10.55	7.76	10.83	11.62	-5.49	-5.11	-7.52	-9.27	-8.90	-6.96	-10.47
Interest Coverage TTM	0.25	0.97	0.68	0.03	-0.94	-2.78	-2.73	-4.72	-5.11	-7.67	-8.57	-10.35
Debt Ratio	0.92	0.91	0.89	0.92	0.92	1.22	1.24	1.15	1.12	1.13	1.17	1.11
Efficiency & Turnover
Asset Turnover TTM	0.69	0.79	0.79	0.72	0.69	0.69	0.77	0.74	0.75	0.65	0.58	0.51
Days Sales Outstanding TTM	97.43	62.89	79.78	91.88	87.01	83.92	58.83	51.60	43.28	74.62	42.95	92.32
Receivables Turnover TTM	3.75	5.80	4.57	3.97	4.19	4.35	6.20	7.07	8.43	4.89	8.50	3.95
Per Share Metrics
Diluted EPS TTM	-0.08	-0.02	-0.06	-0.13	-0.19	-0.33	-0.22	-0.19	-0.21	-0.28	-0.33	-0.53
Free Cash Flow Per Share TTM	0.22	0.26	0.12	-0.01	-0.15	-0.19	-0.18	-0.19	-0.12	-0.12	-0.40	-0.19
Dividend Per Share TTM	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Margin Metrics
Gross Profit Margin TTM	81.01%	83.29%	78.99%	74.44%	67.99%	60.56%	63.81%	62.56%	64.98%	61.90%	72.79%	63.60%
Operating Profit Margin TTM	2.28%	9.95%	7.88%	0.39%	-11.91%	-31.51%	-20.48%	-20.24%	-19.01%	-23.77%	-27.60%	-45.30%
Net Profit Margin TTM	-8.83%	-2.26%	-7.07%	-17.91%	-24.51%	-43.33%	-27.07%	-23.18%	-22.99%	-26.68%	-31.90%	-49.45%
Growth Metrics
Net Revenue Growth (1Y)	25.69%	47.46%	32.49%	16.75%	-1.24%	-17.70%	-12.49%	-13.10%	-30.86%	-33.46%	-34.07%	-31.82%
Net Income Growth (1Y)	-54.73%	-92.30%	-65.42%	-9.79%	5.30%	33.67%	-25.73%	-59.27%	-26.66%	-44.89%	-59.97%	-38.85%
EPS Growth (1Y)	-60.08%	-93.68%	-72.53%	-27.95%	-8.36%	18.79%	-33.51%	-63.72%	-33.89%	-46.27%	-60.91%	-39.90%
Valuation Metrics
P/E TTM	-18.10	-77.46	-45.45	-26.20	-9.98	-5.77	-6.04	-5.29	-8.72	-4.48	-3.47	-1.72
P/B	13.56	12.70	17.38	32.70	18.39	-8.15	-5.51	-6.34	-13.76	-7.60	-5.45	-6.38
P/S TTM	1.60	1.75	3.21	4.69	2.45	2.50	1.63	1.23	2.00	1.19	1.11	0.85
Market Cap	371.19M	414.02M	722.87M	955.74M	452.16M	400.80M	277.66M	213.90M	375.07M	232.46M	214.67M	170.94M
Enterprise Value	255.74M	275.73M	602.37M	863.80M	383.61M	385.94M	280.32M	210.76M	361.59M	222.56M	209.11M	158.13M
Calculated Values
Free Cash Flow TTM	60.04M	67.70M	32.17M	-2.55M	-34.87M	-40.69M	-38.53M	-39.00M	-25.28M	-23.38M	-75.76M	-34.78M
Net Debt	-115.46M	-138.29M	-120.50M	-91.94M	-68.55M	-14.86M	2.66M	-3.14M	-13.48M	-9.90M	-5.56M	-12.81M
Per-Share and Margin
EPS TTM
Adjusted EPS TTM
Cash Flow Per Share TTM
Pretax Margin TTM
Stock Comp to Revenue TTM
Turnover Ratios and Averages
Average Assets
Average Equity
Average Inventory
Average Receivables
Average Accounts Payables
Inventory Turnover TTM
Payables Turnover TTM
Days Inventory Outstanding TTM
Days Payables Outstanding TTM
Cash Conversion Cycle TTM
Working Capital to Revenue
Deferred Revenue to Revenue
Growth Rates
Total Assets Growth (1Y)
Total Assets Growth (3Y)
Total Assets Growth (5Y)
Dividends Paid Growth (1Y)
Dividends Paid Growth (3Y)
Dividends Paid Growth (5Y)
EPS Growth (3Y)
EPS Growth (5Y)
Net Income Growth (3Y)
Net Income Growth (5Y)
Net Profit Margin Growth (1Y)
Net Profit Margin Growth (3Y)
Net Profit Margin Growth (5Y)
Net Revenue Growth (3Y)
Net Revenue Growth (5Y)
Deferred Revenue Growth (1Y)
Retained Earnings Growth (1Y)
Credit, Liquidity, Returns, Payout
Cash Ratio
Net Working Capital
Debt to EBITDA TTM
Net Debt to EBITDA TTM
Net Debt to Equity
Altman A
Altman B
Altman C
Altman D
Altman E
Altman Z-Score
ROA TTM
ROE TTM
NOPAT TTM
ROIC TTM
Effective Tax Rate TTM
Payout Ratio TTM
Dilution Ratio
Retained Earnings to Equity
Treasury Stock to Equity
Treasury Stock Change (1Y)
Accrued to Current Liabilities
Valuation Ratios
P/CF TTM
Dividend Yield TTM
Free Cash Flow Yield TTM
EV EBITDA TTM
EV EBIT TTM
Stock Compensation TTM
Adjusted Net Income TTM
Billings TTM
Total Debt
Invested Capital

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Insider Transactions

2026-03-04Purchase

Owner: Butler, John P.

Title: CEO and President

Shares: 69,270

Price/Share: $1.25

Value: $86,587.50

Shares Owned: 3,367,064

Relationship: Director,Officer

Ownership: Direct

2026-02-02Sale

Owner: Ostrowski, Erik

Title: SVP, CFO, CBO & Treasurer

Shares: 34,951

Price/Share: $1.39

Value: $48,581.89

Shares Owned: 672,635

Relationship: Officer

Ownership: Direct

2026-02-02Sale

Owner: Burke, Steven Keith

Title: SVP, Chief Medical Officer

Shares: 67,658

Price/Share: $1.39

Value: $94,044.62

Shares Owned: 948,432

Relationship: Officer

Ownership: Direct

2026-02-02Sale

Owner: Malabre, Richard C

Title: SVP, Chief Accounting Officer

Shares: 49,524

Price/Share: $1.39

Value: $68,838.36

Shares Owned: 299,390

Relationship: Officer

Ownership: Direct

2026-02-02Sale

Owner: Rucci, Carolyn M.

Title: SVP, Chief Legal Officer

Shares: 69,772

Price/Share: $1.39

Value: $96,983.08

Shares Owned: 588,378

Relationship: Officer

Ownership: Direct

Filed Date	Owner	Relationship	Title	Ownership	Purchase/Sale	No. Shares	Price Per Share	Value	Shares Owned	Document Type
2026-03-04	Butler, John P.	Director,Officer	CEO and President	Direct	Purchase	69,270	1.25	$86,587.50	3,367,064	4
2026-02-02	Ostrowski, Erik	Officer	SVP, CFO, CBO & Treasurer	Direct	Sale	34,951	1.39	$48,581.89	672,635	4
2026-02-02	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	67,658	1.39	$94,044.62	948,432	4
2026-02-02	Malabre, Richard C	Officer	SVP, Chief Accounting Officer	Direct	Sale	49,524	1.39	$68,838.36	299,390	4
2026-02-02	Rucci, Carolyn M.	Officer	SVP, Chief Legal Officer	Direct	Sale	69,772	1.39	$96,983.08	588,378	4
2026-02-02	Grund, Nicholas	Officer	Chief Commercial Officer	Direct	Sale	84,829	1.39	$117,912.31	561,750	4
2026-02-02	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	341,305	1.39	$474,413.95	3,206,233	4
2025-06-30	Ostrowski, Erik	Officer	SVP, CFO, CBO & Treasurer	Direct	Sale	41,314	3.67	$151,622.38	503,586	4
2025-06-09	Malabre, Richard C	Officer	SVP, Chief Accounting Officer	Direct	Sale	15,000	4.01	$60,150.00	266,914	4
2025-06-04	Malabre, Richard C	Officer	SVP, Chief Accounting Officer	Direct	Sale	13,334	3.53	$47,069.02	266,914	4
2025-03-03	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	46,409	1.83	$84,928.47	2,557,921	4
2025-03-03	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	7,144	1.83	$13,073.52	809,090	4
2025-02-03	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	50,506	2.10	$106,062.60	816,234	4
2025-02-03	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	144,250	2.10	$302,925.00	2,604,330	4
2025-02-03	Malabre, Richard C	Officer	SVP, Chief Accounting Officer	Direct	Sale	30,202	2.10	$63,424.20	280,248	4
2025-02-03	Grund, Nicholas	Officer	Chief Commercial Officer	Direct	Sale	55,621	2.10	$116,804.10	442,579	4
2024-05-13	Dahan, Michel	Officer	SVP, Chief Operating Officer	Direct	Sale	34,840	1.26	$43,898.40	672,092	4
2024-05-13	Hadas, Nicole R.	Officer	SVP, Chief Legal Officer	Direct	Sale	12,016	1.26	$15,140.16	651,243	4
2024-02-29	Hadas, Nicole R.	Officer	SVP, Chief Legal Officer	Direct	Sale	5,974	1.58	$9,438.92	663,259	4
2024-02-29	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	7,169	1.58	$11,327.02	695,840	4
2024-02-29	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	46,570	1.58	$73,580.60	2,044,580	4
2024-02-29	Dahan, Michel	Officer	SVP, Chief Operating Officer	Direct	Sale	8,661	1.58	$13,684.38	706,932	4
2024-02-27	Hadas, Nicole R.	Officer	SVP, Chief Legal Officer	Direct	Sale	7,411	1.52	$11,264.72	669,233	4
2024-02-27	Dahan, Michel	Officer	SVP, Chief Operating Officer	Direct	Sale	10,744	1.52	$16,330.88	715,593	4
2024-02-27	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	8,367	1.52	$12,717.84	703,009	4
2024-02-27	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	37,733	1.52	$57,354.16	2,091,150	4
2024-02-01	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	24,311	1.68	$40,842.48	711,376	4
2024-02-01	Butler, John P.	Director,Officer	CEO and President	Direct	Sale	46,489	1.68	$78,101.52	2,128,883	4
2023-08-25	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	27,000	1.15	$31,050.00	668,840	4
2023-05-25	Dahan, Michel	Officer	SVP, Chief Operating Officer	Direct	Sale	95,478	1.22	$116,483.16	574,037	4
2023-05-25	Hadas, Nicole R.	Officer	SVP, Chief Legal Officer	Direct	Sale	63,186	1.22	$77,086.92	524,344	4
2023-05-16	Burke, Steven Keith	Officer	SVP, Chief Medical Officer	Direct	Sale	63,567	1.07	$68,016.69	530,487	4
2023-05-16	Spellman, David A	Officer	SVP, CFO and Treasurer	Direct	Sale	63,567	1.07	$68,016.69	446,483	4
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Institutional Ownership

No data available for chart

2026-03-31

36.96%

Inst. Shares: 98,707,775

Shares Outstanding: 267,046,755

2025-12-31

44.36%

Inst. Shares: 114,062,558

Shares Outstanding: 257,157,782

2025-09-30

45.61%

Inst. Shares: 120,781,745

Shares Outstanding: 264,786,432

2025-06-30

40.00%

Inst. Shares: 105,033,980

Shares Outstanding: 262,565,500

2025-03-31

40.10%

Inst. Shares: 94,438,868

Shares Outstanding: 235,497,720

Date	Institutional Shares Owned	Shares Outstanding	Institutional Ownership %
2026-03-31	98,707,775	267,046,755	36.96%
2025-12-31	114,062,558	257,157,782	44.36%
2025-09-30	120,781,745	264,786,432	45.61%
2025-06-30	105,033,980	262,565,500	40.00%
2025-03-31	94,438,868	235,497,720	40.10%
2024-12-31	66,986,922	210,946,658	31.76%
2024-09-30	58,529,959	210,348,459	27.83%
2024-06-30	51,568,973	209,705,397	24.59%
2024-03-31	47,373,706	204,955,151	23.11%
2023-12-31	42,496,705	187,465,448	22.67%
2023-09-30	40,230,240	188,306,350	21.36%
2023-06-30	39,139,201	186,817,431	20.95%
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Akebia Therapeutics, Inc. (AKBA) — SEC Financial Statements & Analysis

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