IONS · XBRL financial data

Ionis Pharmaceuticals financial statements, every fiscal year

The same tables from 7 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (IONS's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	729	810	587	788	705	944
Cost of goods and services sold	12	11	14	9	11	16
Research and development	531	638	—	900	902	916
Selling, general and administrative	354	186	150	233	267	394
Operating income (loss)	(172)	(30)	(410)	(354)	(475)	(382)
Interest expense	45	9	8	13	17	17
Other income (expense)	(0)	(1)	(7)	14	1	(15)
Income tax expense (benefit)	317	(1)	12	32	(6)	2
Net income (loss)	(451)	(29)	(270)	(366)	(454)	(381)
Earnings per share, basic USD per share	(3.23)	(0.20)	(1.90)	(2.56)	(3.04)	(2.38)
Earnings per share, diluted USD per share	(3.23)	(0.20)	(1.90)	(2.56)	(3.04)	(2.38)
Weighted average shares, basic millions of shares	140	141	142	143	150	160
Weighted average shares, diluted millions of shares	140	141	142	143	150	160

Fiscal years (IONS's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	398	869	276	399	242	372
Short-term investments	—	1,246	1,710	1,932	2,056	2,305
Marketable securities	1,495	1,246	1,212	1,311	1,403	1,579
Marketable securities, non-current	—	635	510	653	653	774
Inventory	22	25	22	28	13	10
Total current assets	2,131	2,345	2,203	2,642	2,620	2,991
Property and equipment, net	181	178	74	71	94	123
Right-of-use asset	13	18	182	172	162	239
Total assets	2,390	2,612	2,534	2,990	3,004	3,524
Accounts payable	17	12	18	26	43	28
Accrued liabilities	90	89	140	148	108	106
Current portion of long-term debt	—	—	0	0	0	432
Total current liabilities	583	241	312	448	309	782
Long-term debt	—	—	1,176	1,241	1,202	1,328
Lease liability, non-current	—	19	179	171	162	262
Total liabilities	1,546	1,840	1,961	2,603	2,415	3,035
Accumulated deficit	(1,249)	(1,160)	(1,430)	(1,796)	(2,250)	(2,631)
Total stockholders' equity	843	772	573	387	588	489
Total liabilities and equity	2,390	2,612	2,534	2,990	3,004	3,524
Common shares outstanding (cover page) millions of shares	141	142	143	146	159	159

Fiscal years (IONS's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(451)	(29)	(270)	(366)	(454)	(381)
Stock-based compensation	230	121	100	106	130	134
Net cash from operating activities	36	31	(274)	(308)	(501)	(269)
Purchases of property and equipment	35	12	16	24	45	51
Net cash from investing activities	274	195	(263)	(214)	(134)	(278)
Proceeds from issuing common stock	0	—	0	0	489	0
Share repurchases	91	0	0	—	—	—
Net cash from financing activities	(597)	246	(55)	644	478	676
Net change in cash	(286)	472	(593)	123	(157)	130

SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
Ionis Pharmaceuticals	350	268	566*	166.2M	—	Q2 FY26 10-QJun 30, 2026
Madrigal Pharmaceuticals	515	431	121*	23.2M	—	Q3 FY26 10-QSep 30, 2026
Alkermes	631	480	93*	168.0M	—	Q3 FY26 10-QSep 30, 2026
Repligen	727	209	43*	63.9M	—	Q3 FY26 10-QSep 30, 2026
Corcept Therapeutics	99	340	143*	109.4M	—	Q3 FY26 10-QSep 30, 2026
Halozyme Therapeutics	163	481	241*	113.5M	—	Q2 FY26 10-QJun 30, 2026
Jazz Pharmaceuticals	2,036	1,243	506*	64.2M	—	Q3 FY26 10-QSep 30, 2026
Axsome Therapeutics	314	260	(9.5)*	52.6M	14.7 quarters	Q3 FY26 10-QSep 30, 2026
Lantheus Holdings	593	388	92*	65.3M	—	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.