Aardvark Therapeutics shares outstanding AARD

Diluted shares outstanding, averaged over each quarter, from 2024.

Aardvark Therapeutics had 21.8M diluted shares outstanding on average in Q2 FY26, the quarter to Jun 30, 2026.

That is 0.7% more than a year earlier, so each share owns a little less of the company.

Shares outstanding over time

Fiscal year	Shares, fourth quarter	Change
FY2025	21.8M	+436%
FY2024	4.1M	n/a

Each fiscal year is the twelve months to its fourth quarter, shown as the fourth quarter's average share count.

Quarter	Ended	Shares outstanding	On a year earlier
Q2 FY26	Jun 30, 2026	21.8M	+1%
Q1 FY26	Mar 31, 2026	21.8M	+65%
Q4 FY25	Dec 31, 2025	21.8M	+436%
Q3 FY25	Sep 30, 2025	21.7M	+445%
Q2 FY25	Jun 30, 2025	21.7M	+447%
Q1 FY25	Mar 31, 2025	13.2M	+233%
Q4 FY24	Dec 31, 2024	4.1M	n/a
Q3 FY24	Sep 30, 2024	4M	n/a
Q2 FY24	Jun 30, 2024	4M	n/a
Q1 FY24	Mar 31, 2024	4M	n/a

Diluted shares outstanding, averaged over the period. Fewer shares means each one owns more of the company.

A falling count usually means buybacks. A rising one means stock pay, acquisitions paid in shares or new shares sold.

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.