GPGrossPatternRESEARCH SYSTEM
SEC CHECK OPERATIONAL
GROSSPATTERN / DETERMINISTIC EVIDENCE / V3

ARDX financial changes

Ranked by interpretable importance, issuer history, magnitude, and accounting profile. No directional recommendation.

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MEDIUM IMPORTANCER And DR And D Acceleration82TH HISTORICAL PCTL

Research & development increased 66.6%

Research & development changed +66.6% from the comparable as-filed period. The change ranks at the 82th percentile of 99 prior comparable changes.

$15.7M$26.1M99 prior comparisons
MEDIUM IMPORTANCEMarginMargin Expansion4TH HISTORICAL PCTL

Operating margin moved 446 bp higher

Operating margin changed +446 basis points from the comparable as-filed period. The change ranks at the 4th percentile of 69 prior comparable changes.

-14.74%-10.28%69 prior comparisons
MEDIUM IMPORTANCEInventory20TH HISTORICAL PCTL

Inventory / revenue moved 1123 bp lower

Inventory / revenue changed -1123 basis points from the comparable as-filed period. The change ranks at the 20th percentile of 15 prior comparable changes.

126.21%114.98%15 prior comparisons
LOW IMPORTANCESg And A15TH HISTORICAL PCTL

Selling, general & administrative increased 20.8%

Selling, general & administrative changed +20.8% from the comparable as-filed period. The change ranks at the 15th percentile of 26 prior comparable changes.

$84.0M$101.4M26 prior comparisons
LOW IMPORTANCESbcSbc Intensity Increase10TH HISTORICAL PCTL

SBC / revenue moved 70 bp higher

SBC / revenue changed +70 basis points from the comparable as-filed period. The change ranks at the 10th percentile of 69 prior comparable changes. This reverses 2 consecutive comparable moves in the opposite direction.

11.97%12.67%69 prior comparisons

Method Importance combines metric-family relevance, magnitude, issuer-history unusualness, persistence, and financial-statement significance. It is analytical prioritization, not a legal materiality conclusion or investment signal.