FY2025 · ended Dec 31, 2025 · Revenue $943.71M, +33.8% YoY · Filed Feb 26, 2026
Ionis Pharmaceuticals, Inc. (IONS) files with the SEC under industry code 2834, Pharmaceutical Preparations. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $943.7 million and a net loss of $381.4 million. Free cash flow was -$320.0 million. As of Jun 30, 2026 it held $2.7 billion in cash and investments and $262.5 million in total debt.
Revenue (TTM)
$874.09M
-7.4% vs year-ago TTM
Net income (TTM)
$-565.17M
-110.7% vs year-ago TTM
Operating cash flow (TTM)
$-496.43M
-115.3% vs year-ago TTM
Free cash flow (TTM)
$-560.84M
-93.4% vs year-ago TTM
EPS
$-2.38
+21.7% vs prior year
Dividend per share
None
Shares outstanding
165.19M
+3.9% vs prior year
Net cash
$2.44B
as of Jun 30, 2026
Operating margin
-68.0%
FY 2026
Company profile
- Industry
- Pharmaceutical Preparations (SIC 2834)
- Listed as
- IONS (Nasdaq)
- Fiscal year ends
- December 31
- Incorporated in
- CA
- Headquarters
- Carlsbad, CA
- SEC filer status
- Large accelerated filer
- SEC CIK
- 874015
- Former names
- ISIS PHARMACEUTICALS INC (until Dec 18, 2015)
Other Pharmaceutical Preparations companies
- ELI LILLY & Co LLY
- Johnson & Johnson JNJ
- AbbVie Inc. ABBV
- Merck & Co., Inc. MRK
- Novartis AG NVS
- Astrazeneca PLC AZN
- Abbott Laboratories ABT
- Novo Nordisk A S NVO
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $943.7M | $705.1M | $787.6M | $587.4M | $810.5M |
| Operating income | -$381.7M | -$475.1M | -$353.7M | -$410.2M | -$30.2M |
| Net income | -$381.4M | -$453.9M | -$366.3M | -$269.7M | -$28.6M |
| Diluted EPS | -$2.38 | -$3.04 | -$2.56 | -$1.90 | -$0.20 |
| Operating cash flow | -$268.6M | -$500.9M | -$307.5M | -$274.4M | $30.8M |
| Free cash flow | -$320.0M | -$546.2M | -$331.3M | -$290.1M | $18.8M |
| Total assets | $3.5B | $3.0B | $3.0B | $2.5B | $2.6B |
| 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 and investments | $3.5B | $3.0B | $3.0B | $2.5B | $1.5B |
| Total debt | $2.1B | $1.4B | $1.5B | $1.4B | $22.1M |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Oct 23, 2026 | Oct 23, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Oct 21, 2026 | Oct 20, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Sep 23, 2026 | Sep 23, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Sep 4, 2026 | Sep 4, 2026 |
| 8-K |
Current report
Regulation FD disclosure, Other events
|
Sep 4, 2026 | Sep 3, 2026 |
| 10-Q | Quarterly report | Jul 29, 2026 | Jun 30, 2026 |
All 1005 Ionis Pharmaceuticals, Inc. SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.