IONIS PHARMACEUTICALS INCIONSEarnings & Financial Report
Ionis Pharmaceuticals, Inc. is a biotechnology company that specializes in discovering and developing antisense therapy, as well as RNA interference and CRISPR therapeutics. The company was founded in 1989 is based in Carlsbad, California. The company was previously known as Isis Pharmaceuticals until December 2015.
Revenue
$225.3M
Gross Profit
$221.1M
Operating Profit
$-66.1M
Net Profit
$-66.3M
Gross Margin
98.2%
Operating Margin
-29.3%
Net Margin
-29.4%
YoY Growth
19.6%
EPS
$-0.45
IONIS PHARMACEUTICALS INC Q2 FY2024 Financial Summary
IONIS PHARMACEUTICALS INC reported revenue of $225.3M (up 19.6% YoY) for Q2 FY2024, with a net profit of $-66.3M (up 22.3% YoY) (-29.4% margin). Cost of goods sold was $4.2M, operating expenses totaled $287.2M.
Key Financial Metrics
| Total Revenue | $225.3M |
|---|---|
| Net Profit | $-66.3M |
| Gross Margin | 98.2% |
| Operating Margin | -29.3% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
IONIS PHARMACEUTICALS INC Q2 FY2024 revenue of $225.3M breaks down across 9 segments, led by Collaborative Agreement Revenue at $141.5M (62.8% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Collaborative Agreement Revenue | $141.5M | 62.8% |
| Otsuka Pharmaceutical Co Ltd Collaboration | $18.9M | 8.4% |
| Astrazeneca Collaborations | $16.0M | 7.1% |
| Wainua Joint Development Revenue | $11.7M | 5.2% |
| Roche Collaborations | $11.1M | 4.9% |
| Other | $10.8M | 4.8% |
| Products | $8.2M | 3.6% |
| Wainus Royalties | $3.8M | 1.7% |
| Licensing And Other Royalties | $3.3M | 1.5% |
IONIS PHARMACEUTICALS INC Revenue by Segment — Quarterly Trend
IONIS PHARMACEUTICALS INC revenue by segment across the last 4 reported quarters, showing how each business line (such as Collaborative Agreement Revenue and Otsuka Pharmaceutical Co Ltd Collaboration) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Collaborative Agreement Revenue | $52.4M | — | — | $45.0M |
| Wainua Joint Development Revenue | $9.6M | $9.7M | $12.4M | $10.4M |
IONIS PHARMACEUTICALS INC Annual Revenue by Year
IONIS PHARMACEUTICALS INC annual revenue history includes year-by-year totals (for example, 2025 revenue was $943.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $943.7M |
| 2024 | $705.1M |
| 2023 | $787.6M |
| 2022 | $587.4M |
IONIS PHARMACEUTICALS INC Quarterly Revenue & Net Profit History
IONIS PHARMACEUTICALS INC results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $203.3M | -10.3% | $-229.4M | -112.8% |
| Q3 FY2025 | $156.7M | +17.1% | $-128.6M | -82.1% |
| Q2 FY2025 | $452.0M | +100.7% | $123.6M | 27.3% |
| Q1 FY2025 | $131.6M | +10.1% | $-146.9M | -111.6% |
| Q4 FY2024 | $226.6M | -30.2% | $-104.3M | -46.1% |
| Q3 FY2024 | $133.8M | -7.2% | $-140.5M | -105.0% |
| Q2 FY2024 | $225.3M | +19.6% | $-66.3M | -29.4% |
| Q1 FY2024 | $119.5M | -8.4% | $-142.8M | -119.5% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $119.5M | $225.3M | $133.8M | $226.6M | $131.6M | $452.0M | $156.7M | $203.3M |
| YoY Growth | -8.4% | 19.6% | -7.2% | -30.2% | 10.1% | 100.7% | 17.1% | -10.3% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $2.76B | $2.69B | $3.08B | $3.00B | $2.81B | $2.99B | $3.03B | $3.52B |
| Liabilities | $2.47B | $2.43B | $2.42B | $2.42B | $2.34B | $2.35B | $2.42B | $3.03B |
| Equity | $296.5M | $263.7M | $662.5M | $588.4M | $475.7M | $631.7M | $618.0M | $489.1M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-149.9M | $-119.9M | $-115.0M | $-116.1M | $-150.8M | $151.3M | $-131.4M | $-137.7M |