Ionis Pharmaceuticals Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-381.39	-453.9	-366.29	-269.72	-28.6
Depreciation & Amortization	22.69	21.99	22.5	22.11	19.56
Other Amortization	6.91	6.69	6.33	5.37	4.96
Loss (Gain) From Sale of Assets	-3.01	10.44	18.47	-147.57	2.71
Loss (Gain) From Sale of Investments	-33.02	-34.84	-27.3	7.61	16.68
Stock-Based Compensation	133.87	130.2	105.81	100.26	120.68
Other Operating Activities	36.56	27.87	10.22	-	8.63
Change in Accounts Receivable	26.13	5.59	-72.06	36.36	14.31
Change in Inventory	-13.67	-5.07	-2.47	5.33	-2.84
Change in Accounts Payable	-15.36	15.99	8.12	1.09	-6
Change in Unearned Revenue	-69.73	-156.82	13.97	-71.25	-82.83
Change in Income Taxes	2.68	-2.12	-4.1	6.21	-0.28
Change in Other Net Operating Assets	18.74	-66.96	-20.72	29.83	-36.18
Operating Cash Flow	-268.58	-500.95	-307.51	-274.37	30.8
Operating Cash Flow Growth	-	-	-	-	-14.19%
Capital Expenditures	-51.44	-45.28	-23.81	-15.72	-11.96
Sale (Purchase) of Intangibles	-5.64	-5.06	-4.18	-4.38	-5.95
Sale (Purchase) of Real Estate	-	-	-	254.08	-
Investment in Securities	-220.69	-83.69	-186.14	-496.62	212.81
Investing Cash Flow	-277.78	-134.03	-214.13	-262.64	194.91
Long-Term Debt Issued	770	-	575	-	632.5
Long-Term Debt Repaid	-267.82	-44.67	-488.1	-50.69	-318.93
Net Debt Issued (Repaid)	502.19	-44.67	86.9	-50.69	313.57
Issuance of Common Stock	192.6	522.73	49.44	6.37	11.57
Repurchase of Common Stock	-	-	-	-10.95	-16.73
Other Financing Activities	-18.95	-	507.74	-0.03	-62.48
Financing Cash Flow	675.84	478.06	644.08	-55.3	245.93
Foreign Exchange Rate Adjustments	0.7	-0.27	0.35	-0.42	-0.11
Net Cash Flow	130.18	-157.19	122.79	-592.72	471.53
Free Cash Flow	-320.03	-546.23	-331.32	-290.09	18.84
Free Cash Flow Growth	-	-	-	-	2340.93%
Free Cash Flow Margin	-33.91%	-77.46%	-42.06%	-49.39%	2.33%
Free Cash Flow Per Share	-2.00	-3.65	-2.31	-2.04	0.13
Cash Interest Paid	10.78	10.87	6.51	2.9	4.78
Cash Income Tax Paid	-0.64	-5.62	48.33	5.01	0.04
Levered Free Cash Flow	-154.72	-352.83	-173.51	-80.22	76.54
Unlevered Free Cash Flow	-105.04	-302.98	-128.93	-80.51	77.42
Change in Working Capital	-51.22	-209.39	-77.26	7.57	-113.82

Source: S&P Global Market Intelligence. Standard template. Financial Sources.