IONIS PHARMACEUTICALS INC
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $943.7M | $705.1M | $787.6M | $587.4M | $810.5M |
| Cost of revenue | $15.9M | $11.2M | $9.1M | $14.1M | $10.8M |
| Selling, general & administrative | $393.9M | $267.5M | $232.6M | $150.3M | $186.3M |
| Research and development | $915.6M | $901.5M | $899.6M | — | $638.2M |
| Operating income | -$381.7M | -$475.1M | -$353.7M | -$410.2M | -$30.2M |
| Interest expense | $17.3M | $17.0M | $12.7M | $8.1M | $9.3M |
| Pretax income | -$379.6M | -$460.1M | -$334.0M | -$258.0M | -$29.1M |
| Income tax expense | $1.8M | -$6.2M | $32.3M | $11.7M | -$551,000 |
| Net income | -$381.4M | -$453.9M | -$366.3M | -$269.7M | -$28.6M |
| Balance Sheet | |||||
| Cash and equivalents | $372.3M | $242.1M | $399.3M | $276.5M | $869.2M |
| Current assets | $3.0B | $2.6B | $2.6B | $2.2B | $2.3B |
| Total assets | $3.5B | $3.0B | $3.0B | $2.5B | $2.6B |
| Current liabilities | $781.6M | $309.3M | $448.1M | $311.6M | $240.6M |
| Total liabilities | $3.0B | $2.4B | $2.6B | $2.0B | $1.8B |
| Stockholders' equity | $489.1M | $588.4M | $386.7M | $572.9M | $771.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$268.6M | -$500.9M | -$307.5M | -$274.4M | $30.8M |
| Depreciation and amortization | $10.0M | $9.6M | $10.3M | $14.3M | $15.5M |
| Stock-based compensation | $133.9M | $130.2M | $105.8M | $100.3M | $120.7M |
| Capital expenditure | $51.4M | $45.3M | $23.8M | $15.7M | $12.0M |
| Free cash flow | -$320.0M | -$546.2M | -$331.3M | -$290.1M | $18.8M |
| Share repurchases | — | — | — | $0 | $0 |
| Impairments | $986,000 | $3.0M | $1.8M | $2.0M | $2.7M |
Shares outstanding 165.3M · Free float 99.4%
Annual filing data through FY ended December 31, 2025; float as of July 11, 2026.