AKBA Nasdaq· Akebia Therapeutics Inc.
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AKBA Nasdaq· Akebia Therapeutics Inc.
Earnings report Q3 2023

Akebia Therapeutics Reports Decrease in Revenue for the Latest Quarter

Segments of Revenue

Akebia Therapeutics reported total revenues of $42.05 million for the latest quarter, representing a decrease from $48.71 million in the same quarter last year. The breakdown of revenue segments is as follows:

  1. Product revenue, net: Akebia generated $40.12 million in product revenue, net for the quarter, compared to $41.99 million in the previous year's quarter. This decline can be attributed to various factors, such as changes in demand or pricing for their product, Auryxia.

  2. License, collaboration, and other revenue: The company earned $1.93 million in revenue from licenses, collaborations, and other sources during the quarter. This is a decrease from $6.73 million in the same quarter last year. The decline in this segment's revenue could be due to the completion of certain collaborations or the timing of milestone payments.


Despite the decrease in revenue, Akebia Therapeutics showcased several strengths in its latest financial quarter. The company's product revenue remained relatively stable, indicating a consistent demand for their flagship product, Auryxia. Additionally, Akebia's management highlighted their ongoing efforts to expand their product's market reach and increase sales through various marketing and promotional activities.


Akebia Therapeutics faced certain challenges in the latest quarter, resulting in a decline in overall revenue. The company experienced higher cost of goods sold, primarily driven by increased product costs and amortization of intangible assets. Additionally, operating expenses remained elevated due to continued investments in research and development, as well as selling, general, and administrative activities. These factors contributed to the loss from operations for the quarter.


It is worth noting that Akebia Therapeutics reported a loss from operations of $13.04 million for the latest quarter. This loss was partially offset by other income, including interest expense, resulting in a net loss for the quarter. The company's cash and cash equivalents decreased from $90.47 million at the end of 2022 to $46.53 million at the end of the latest quarter.


Akebia Therapeutics faced challenges in the latest financial quarter, with a decrease in total revenue compared to the same period last year. The decline in revenue can be attributed to various factors, including increased costs and operating expenses. However, the company showcased strengths in maintaining stable product revenue and implementing strategies to expand market reach. Akebia's management remains focused on driving sales and reducing costs to improve financial performance in the future.

Source documents

Form 10-Q  filed on Nov 08, 2023
42 pages scanned

Reference data

Company financials Q3 revenue 56.2M
Analyst estimates Q3 EPS missed by -100.00%
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