IONS: financial statements from SEC — TradeAlmanac

IONS

Ionis Pharmaceuticals, Inc.: financial statements

Company reports as filed with the U.S. Securities and Exchange Commission.

AnnualQuarterly

Income statement

Metric	Dec 31, 2025	Dec 31, 2024
Revenue	944m	705m
Cost of revenue	16m	11m
Research and development	916m	902m
Selling, general and administrative	394m	267m
Operating expenses	1.33bn	1.18bn
Operating income	−382m	−475m
Interest expense	17m	17m
Pre-tax income	−380m	−460m
Income tax	2m	−6m
Net income	−381m	−454m
Earnings per share	−2.38	−3.04
Earnings per share, diluted	−2.38	−3.04
Weighted average shares	160m	150m
Weighted average shares, diluted	160m	150m

Balance sheet

Metric	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024
Cash and equivalents	173m	372m	338m	297m	264m	242m	335m	294m
Short-term investments	1.75bn	2.31bn

Cash flow

Metric	Dec 31, 2025	Dec 31, 2024
Operating cash flow	−269m	−501m
Depreciation and amortisation	10m	10m
Share-based compensation	134m	130m
Capital expenditure	51m	45m
Investing cash flow	−278m	−134m
Financing cash flow	676m

Amounts in USD unless stated otherwise. Sources: Nasdaq Trader, Yahoo Finance, U.S. Securities and Exchange Commission (EDGAR)