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
Stock-Based Compensation	133.87	130.2	105.81	100.26	120.68
Other Adjustments	7.45	10.15	7.73	-134.59	32.98
Change in Receivables	26.13	5.59	-72.06	36.36	14.31
Changes in Inventories	-13.67	-5.07	-2.47	5.33	-2.84
Changes in Accounts Payable	-15.36	15.99	8.12	1.09	-6
Changes in Accrued Expenses	46.62	1.89	18.55	10.37	-26.92
Changes in Income Taxes Payable	2.68	-2.12	-4.1	6.21	-0.28
Changes in Unearned Revenue	-69.73	-156.82	13.97	-71.25	-82.83
Changes in Other Operating Activities	-27.88	-68.85	-39.27	19.46	-9.26
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 of Property, Plant & Equipment	-	-	-	254.08	-
Purchases of Intangible Assets	-5.64	-5.06	-4.18	-4.38	-5.95
Purchases of Investments	-1,919	-1,853	-1,771	-1,486	-1,131
Proceeds from Sale of Investments	1,698	1,769	1,585	989.15	1,344
Investing Cash Flow	-277.78	-134.03	-214.13	-262.64	194.91
Long-Term Debt Issued	770	-	1,075	-	632.5
Long-Term Debt Repaid	-267.82	-44.67	-488.1	-10.95	-318.93
Net Long-Term Debt Issued (Repaid)	502.19	-44.67	586.9	-10.95	313.57
Issuance of Common Stock	192.6	522.73	49.44	6.37	11.57
Repurchase of Common Stock	-	-	-	-50.69	-16.73
Net Common Stock Issued (Repurchased)	192.6	522.73	49.44	-44.31	-5.16
Other Financing Activities	-18.95	-	7.74	-0.03	-62.48
Financing Cash Flow	675.84	478.06	644.08	-55.3	245.93
Effect of Exchange Rate Changes on Cash and Cash Equivalents	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%
FCF Margin	-33.91%	-77.46%	-42.06%	-49.39%	2.33%
Free Cash Flow Per Share	-2.00	-3.65	-2.31	-2.05	0.13
Levered Free Cash Flow	14.7	-736.84	214.1	-303.08	164.45
Unlevered Free Cash Flow	-489.57	-706.98	-394.47	-451.26	-150.14

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.