Ionis Pharmaceuticals Income 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
Revenue	943.71	705.14	787.65	587.37	810.46
Revenue Growth (YoY)	33.83%	-10.47%	34.10%	-27.53%	11.13%
Cost of Revenue	15.91	11.22	9.13	14.12	10.84
Gross Profit	927.8	693.92	778.51	573.25	799.61
Selling, General & Admin	393.87	267.47	232.62	150.3	186.35
Research & Development	915.62	901.53	899.63	833.15	643.45
Total Operating Expenses	1,309	1,169	1,132	983.44	829.8
Operating Income	-381.68	-475.08	-353.73	-410.19	-30.19
Interest Income	97.77	107.02	89.04	25.33	10.04
Interest Expense	-90.54	-90.45	-81.46	-8.12	-9.35
Other Non-Operating Income (Expense)	-5.14	-1.56	12.18	135	0.34
Total Non-Operating Income (Expense)	2.08	15.01	19.77	152.21	1.04
Pretax Income	-379.6	-460.07	-333.97	-257.99	-29.15
Provision for Income Taxes	1.79	-6.17	32.32	11.74	-0.55
Net Income	-381.39	-453.9	-366.29	-269.72	-28.6
Net Income to Common	-381.39	-453.9	-366.29	-269.72	-28.6
Shares Outstanding (Basic)	160	150	143	142	141
Shares Outstanding (Diluted)	160	150	143	142	141
Shares Change (YoY)	7.02%	4.42%	0.95%	0.59%	1.01%
EPS (Basic)	-2.38	-3.04	-2.56	-1.90	-0.20
EPS (Diluted)	-2.38	-3.04	-2.56	-1.90	-0.20
Shares Outstanding	163.31	157.91	144.34	142.06	141.21
Free Cash Flow	-320.03	-546.23	-331.32	-290.09	18.84
Free Cash Flow Growth	-	-	-	-	2340.93%
Free Cash Flow Per Share	-2.00	-3.65	-2.31	-2.05	0.13
Gross Margin	98.31%	98.41%	98.84%	97.60%	98.66%
Operating Margin	-40.45%	-67.37%	-44.91%	-69.84%	-3.72%
Profit Margin	-40.41%	-64.37%	-46.50%	-45.92%	-3.53%
FCF Margin	-33.91%	-77.46%	-42.06%	-49.39%	2.33%
EBITDA	-358.99	-453.09	-331.23	-388.09	-10.63
EBITDA Margin	-38.04%	-64.26%	-42.05%	-66.07%	-1.31%
EBIT	-381.68	-475.08	-353.73	-410.19	-30.19
EBIT Margin	-40.45%	-67.37%	-44.91%	-69.84%	-3.72%
Effective Tax Rate	-0.47%	1.34%	-9.68%	-4.55%	1.89%

Updated Feb 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q