balance equationreview2019-12-31
Difference 107088000 exceeds tolerance 3233112.000. Presentation or filing-vintage differences need review.
Revenue
$943.71M
Fiscal year ended 2025-12-31Operating income
-$381.68M
Fiscal year ended 2025-12-31Free cash flow
-$320.03M
Fiscal year ended 2025-12-31IONIS PHARMACEUTICALS INC (IONS) reported revenue of $943.71M and net income of -$381.39M for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from IONIS PHARMACEUTICALS INC’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $943.71M | $705.14M | $787.65M | $587.37M | $810.46M | $729.26M | $1.12B | $599.67M | $514.18M | $372.78M |
| Cost of revenue | $15.91M | $11.22M | $9.13M | $14.12M | $10.84M | $11.95M | $4.38M | $1.82M | $0 | $0 |
| Gross profit | $927.80M | $693.92M | $778.51M | $573.25M | $799.61M | $717.32M | $1.12B | $597.85M | $514.18M | $372.78M |
| Operating income | -$381.68M | -$475.08M | -$353.73M | -$410.19M | -$30.19M | -$172.08M | $365.88M | -$61.37M | $31.05M | -$20.16M |
| Net income | -$381.39M | -$453.90M | -$366.29M | -$269.72M | -$28.60M | -$444.26M | $278.14M | $273.74M | $346.00K | -$60.40M |
| Research & development | $915.62M | $901.53M | $899.62M | Unavailable | $638.20M | $531.00M | $461.50M | $411.90M | $372.50M | $340.40M |
| Weighted-average diluted shares | shares 160.01M | shares 149.51M | shares 143.19M | shares 141.85M | shares 141.02M | shares 139.61M | shares 153.16M | shares 134.06M | shares 126.10M | shares 120.93M |
| Pretax income | -$379.60M | -$460.07M | -$333.96M | -$257.98M | -$29.15M | -$134.55M | $338.77M | -$76.16M | -$16.76M | -$57.47M |
| Income tax expense | $1.79M | -$6.17M | $32.32M | $11.74M | -$551.00K | $345.19M | $51.51M | -$291.14M | -$5.98M | $2.93M |
| Diluted EPS | $-2.38 | $-3.04 | $-2.56 | $-1.90 | $-0.20 | $-3.18 | $1.90 | $2.07 | $0.15 | $-0.50 |
| Selling, general & administrative | $393.87M | $267.47M | $232.62M | $150.30M | $186.35M | $354.32M | $286.64M | $244.62M | $108.49M | $48.62M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | $48.62M |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $372.26M | $242.08M | $399.27M | $276.47M | $869.19M | $397.66M | $683.29M | $278.82M | $129.63M | $84.68M |
| Total assets | $3.52B | $3.00B | $2.99B | $2.53B | $2.61B | $2.39B | $3.23B | $2.67B | $1.32B | $912.47M |
| Current assets | $2.99B | $2.62B | $2.64B | $2.20B | $2.35B | $2.13B | $2.72B | $2.21B | $1.17B | $797.93M |
| Total liabilities | $3.03B | $2.42B | $2.60B | $1.96B | $1.84B | $1.65B | $1.55B | $1.48B | $957.49M | $812.90M |
| Current liabilities | $781.57M | $309.32M | $448.09M | $311.56M | $240.55M | $598.90M | $273.00M | $280.29M | $243.61M | $133.78M |
| Total equity incl. NCI | $489.09M | $588.35M | $386.69M | $572.89M | $771.74M | $743.28M | $1.58B | $1.10B | $365.28M | $39.61M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $10.05M | $12.51M | $7.44M | $22.03M | $24.81M | $21.96M | $18.18M | $8.58M | $9.98M | Unavailable |
| Accounts receivable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Goodwill | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Long-term debt | $1.33B | $1.20B | $1.24B | $1.18B | Unavailable | $539.11M | $785.50M | Unavailable | Unavailable | Unavailable |
| Accounts payable | $28.08M | $42.96M | $26.03M | $17.92M | $11.90M | $17.20M | $16.07M | $28.66M | $24.89M | $21.12M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$268.58M | -$500.95M | -$307.51M | -$274.37M | $30.80M | $35.89M | $345.63M | $602.91M | $174.15M | -$112.10M |
| Capital expenditures | $51.44M | $45.28M | $23.80M | $15.72M | $11.96M | $35.12M | $30.90M | $13.61M | $34.76M | $7.11M |
| Investing cash flow | -$277.78M | -$134.03M | -$214.13M | -$262.64M | $194.91M | $274.48M | -$41.27M | -$929.56M | -$358.29M | $56.60M |
| Financing cash flow | $675.84M | $478.06M | $644.08M | -$55.30M | $245.93M | -$596.61M | $100.02M | $475.86M | $229.09M | $11.39M |
| Net change in cash | $130.18M | -$157.19M | $122.79M | -$592.72M | $471.53M | -$285.62M | $404.47M | $149.19M | $44.94M | -$44.11M |
| Stock-based compensation | $133.87M | $130.20M | $105.81M | $100.26M | $120.68M | $230.12M | $146.57M | $131.31M | $85.98M | $72.11M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | Unavailable | $0 | $0 | $90.55M | $34.40M | $0 | $0 | Unavailable |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$320.03M | -$546.23M | -$331.32M | -$290.09M | $18.84M | $772.00K | $314.72M | $589.30M | $139.38M | -$119.21M |
| Gross margin | 98.3% | 98.4% | 98.8% | 97.6% | 98.7% | 98.4% | 99.6% | 99.7% | 100.0% | 100.0% |
| Operating margin | -40.4% | -67.4% | -44.9% | -69.8% | -3.7% | -23.6% | 32.6% | -10.2% | 6.0% | -5.4% |
| FCF margin | -33.9% | -77.5% | -42.1% | -49.4% | 2.3% | 0.1% | 28.0% | 98.3% | 27.1% | -32.0% |
| SBC / revenue | 14.2% | 18.5% | 13.4% | 17.1% | 14.9% | 31.6% | 13.1% | 21.9% | 16.7% | 19.3% |
| Current ratio | 3.83x | 8.47x | 5.90x | 7.07x | 9.75x | 3.56x | 9.97x | 7.88x | 4.80x | 5.96x |
| Revenue YoY growth | 33.8% | -10.5% | 34.1% | -27.5% | 11.1% | -35.0% | 87.2% | 16.6% | 37.9% | Unavailable |
| Net margin | -40.4% | -64.4% | -46.5% | -45.9% | -3.5% | -60.9% | 24.8% | 45.6% | 0.1% | -16.2% |
| R&D / revenue | 97.0% | 127.9% | 114.2% | Unavailable | Unavailable | Unavailable | 41.1% | 68.7% | 72.4% | 91.3% |
| CapEx / revenue | 5.5% | 6.4% | 3.0% | 2.7% | 1.5% | 4.8% | 2.8% | 2.3% | 6.8% | 1.9% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 15.2% | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open IONS in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-07-29View SEC filing
10-Q · Filed 2026-04-29View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-10-29View SEC filing
10-Q · Filed 2025-07-30View SEC filing
10-Q · Filed 2025-04-30View SEC filing
Reconciliation checks needing review
3 periods on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.
balance equationreview2018-12-31
Difference 86537000 exceeds tolerance 2667784.000. Presentation or filing-vintage differences need review.
balance equationreview2016-12-31
Difference 59952000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.