# Ionis Pharmaceuticals Inc: financial statements, quarterly

IONS · Nasdaq · CIK 874015 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/ions.md) · [Financials](/companies/ions/financials.md) · [Filings](/companies/ions/filings.md) · [Insiders](/companies/ions/insiders.md)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/ions/financials.md?period=annual).

## Income statement

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [144](/filings/0000874015-24-000232.md) | [325](/filings/0000874015-25-000089.md) | [119](/filings/0000874015-25-000123.md) | [225](/filings/0000874015-25-000167.md) | [134](/filings/0000874015-25-000266.md) | [227](/filings/0000874015-26-000115.md) | [132](/filings/0000874015-26-000177.md) | [452](/filings/0000874015-26-000251.md) | [157](/filings/0000874015-25-000266.md) | [203](/filings/0000874015-26-000115.md) | [246](/filings/0000874015-26-000177.md) | [268](/filings/0000874015-26-000251.md) |
| Cost of revenue | $m | [2.2](/filings/0000874015-24-000232.md) | [3.1 d](/filings/0000874015-26-000115.md) | [2.2](/filings/0000874015-25-000123.md) | [4.2](/filings/0000874015-25-000167.md) | [1.1](/filings/0000874015-25-000266.md) | [3.8 d](/filings/0000874015-26-000115.md) | [1.5](/filings/0000874015-26-000177.md) | [4.2](/filings/0000874015-26-000251.md) | [2.3](/filings/0000874015-25-000266.md) | [8.0 d](/filings/0000874015-26-000115.md) | [3.0](/filings/0000874015-26-000177.md) | [2.7](/filings/0000874015-26-000251.md) |
| Research and development | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Selling, general and administrative | $m | [70.0](/filings/0000874015-24-000232.md) | [71.0 d](/filings/0000874015-26-000115.md) | [52.6](/filings/0000874015-25-000123.md) | [65.1](/filings/0000874015-25-000167.md) | [61.6](/filings/0000874015-25-000266.md) | [88.1 d](/filings/0000874015-26-000115.md) | [76.3](/filings/0000874015-26-000177.md) | [90.6](/filings/0000874015-26-000251.md) | [96.8](/filings/0000874015-25-000266.md) | [130 d](/filings/0000874015-26-000115.md) | [150](/filings/0000874015-26-000177.md) | [150](/filings/0000874015-26-000251.md) |
| Operating income | $m | [(143)](/filings/0000874015-24-000232.md) | [(6.1)](/filings/0000874015-25-000089.md) | [(150)](/filings/0000874015-25-000123.md) | [(66.1)](/filings/0000874015-25-000167.md) | [(149)](/filings/0000874015-25-000266.md) | [(111)](/filings/0000874015-26-000115.md) | [(147)](/filings/0000874015-26-000177.md) | [140](/filings/0000874015-26-000251.md) | [(160)](/filings/0000874015-25-000266.md) | [(214)](/filings/0000874015-26-000115.md) | [(117)](/filings/0000874015-26-000177.md) | [(102)](/filings/0000874015-26-000251.md) |
| Interest expense | $m | [4.2](/filings/0000874015-24-000232.md) | [4.6 d](/filings/0000874015-26-000115.md) | [4.2](/filings/0000874015-25-000123.md) | [4.5](/filings/0000874015-25-000167.md) | [4.2](/filings/0000874015-25-000266.md) | [4.2 d](/filings/0000874015-26-000115.md) | [4.1](/filings/0000874015-26-000177.md) | [4.1](/filings/0000874015-26-000251.md) | [4.2](/filings/0000874015-25-000266.md) | [4.8 d](/filings/0000874015-26-000115.md) | [5.2](/filings/0000874015-26-000177.md) | [4.6](/filings/0000874015-26-000251.md) |
| Income tax | $m | [6.6](/filings/0000874015-24-000232.md) | [6.5 d](/filings/0000874015-26-000115.md) | [0.1](/filings/0000874015-25-000123.md) | [0.1](/filings/0000874015-25-000167.md) | [(3.6)](/filings/0000874015-25-000266.md) | [(2.7) d](/filings/0000874015-26-000115.md) | [0.1](/filings/0000874015-26-000177.md) | [(0.0)](/filings/0000874015-26-000251.md) | [0.2](/filings/0000874015-25-000266.md) | [1.5 d](/filings/0000874015-26-000115.md) | [0.2](/filings/0000874015-26-000177.md) | [1.3](/filings/0000874015-26-000251.md) |
| Net income | $m | [(147)](/filings/0000874015-24-000232.md) | [(9.3)](/filings/0000874015-25-000089.md) | [(143)](/filings/0000874015-25-000123.md) | [(66.3)](/filings/0000874015-25-000167.md) | [(140)](/filings/0000874015-25-000266.md) | [(104)](/filings/0000874015-26-000115.md) | [(147)](/filings/0000874015-26-000177.md) | [124](/filings/0000874015-26-000251.md) | [(129)](/filings/0000874015-25-000266.md) | [(229)](/filings/0000874015-26-000115.md) | [(92.5)](/filings/0000874015-26-000177.md) | [(115)](/filings/0000874015-26-000251.md) |
| Diluted EPS | $ per share | [(1.03)](/filings/0000874015-24-000232.md) | [(0.06)](/filings/0000874015-25-000089.md) | [(0.98)](/filings/0000874015-25-000123.md) | [(0.45)](/filings/0000874015-25-000167.md) | [(0.95)](/filings/0000874015-25-000266.md) | [(0.66)](/filings/0000874015-26-000115.md) | [(0.93)](/filings/0000874015-26-000177.md) | [0.70](/filings/0000874015-26-000251.md) | [(0.80)](/filings/0000874015-25-000266.md) | [(1.41)](/filings/0000874015-26-000115.md) | [(0.56)](/filings/0000874015-26-000177.md) | [(0.69)](/filings/0000874015-26-000251.md) |
| Basic EPS | $ per share | [(1.03)](/filings/0000874015-24-000232.md) | [(0.06)](/filings/0000874015-25-000089.md) | [(0.98)](/filings/0000874015-25-000123.md) | [(0.45)](/filings/0000874015-25-000167.md) | [(0.95)](/filings/0000874015-25-000266.md) | [(0.66)](/filings/0000874015-26-000115.md) | [(0.93)](/filings/0000874015-26-000177.md) | [0.78](/filings/0000874015-26-000251.md) | [(0.80)](/filings/0000874015-25-000266.md) | [(1.41)](/filings/0000874015-26-000115.md) | [(0.56)](/filings/0000874015-26-000177.md) | [(0.69)](/filings/0000874015-26-000251.md) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, us-gaap:Revenues
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Research and development: not reported
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | Q3 FY2023 (2023-09-30) | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [352](/filings/0000874015-23-000209.md) | [399](/filings/0000874015-25-000089.md) | [349](/filings/0000874015-24-000142.md) | [294](/filings/0000874015-24-000187.md) | [335](/filings/0000874015-24-000232.md) | [242](/filings/0000874015-26-000115.md) | [264](/filings/0000874015-25-000123.md) | [297](/filings/0000874015-25-000167.md) | [338](/filings/0000874015-25-000266.md) | [372](/filings/0000874015-26-000251.md) | [173](/filings/0000874015-26-000177.md) | [350](/filings/0000874015-26-000251.md) |
| Current assets | $m | [2,585](/filings/0000874015-23-000209.md) | [2,642](/filings/0000874015-25-000089.md) | [2,416](/filings/0000874015-24-000142.md) | [2,329](/filings/0000874015-24-000187.md) | [2,714](/filings/0000874015-24-000232.md) | [2,620](/filings/0000874015-26-000115.md) | [2,419](/filings/0000874015-25-000123.md) | [2,577](/filings/0000874015-25-000167.md) | [2,519](/filings/0000874015-25-000266.md) | [2,991](/filings/0000874015-26-000251.md) | [2,937](/filings/0000874015-26-000177.md) | [2,491](/filings/0000874015-26-000251.md) |
| Total assets | $m | [2,934](/filings/0000874015-23-000209.md) | [2,990](/filings/0000874015-25-000089.md) | [2,764](/filings/0000874015-24-000142.md) | [2,691](/filings/0000874015-24-000187.md) | [3,081](/filings/0000874015-24-000232.md) | [3,004](/filings/0000874015-26-000115.md) | [2,813](/filings/0000874015-25-000123.md) | [2,985](/filings/0000874015-25-000167.md) | [3,033](/filings/0000874015-25-000266.md) | [3,524](/filings/0000874015-26-000251.md) | [3,450](/filings/0000874015-26-000177.md) | [2,995](/filings/0000874015-26-000251.md) |
| Current liabilities | $m | [404](/filings/0000874015-23-000209.md) | [448](/filings/0000874015-25-000089.md) | [328](/filings/0000874015-24-000142.md) | [306](/filings/0000874015-24-000187.md) | [305](/filings/0000874015-24-000232.md) | [309](/filings/0000874015-26-000115.md) | [250](/filings/0000874015-25-000123.md) | [897](/filings/0000874015-25-000167.md) | [903](/filings/0000874015-25-000266.md) | [782](/filings/0000874015-26-000251.md) | [717](/filings/0000874015-26-000177.md) | [316](/filings/0000874015-26-000251.md) |
| Total liabilities | $m | [2,619](/filings/0000874015-23-000209.md) | [2,603](/filings/0000874015-25-000089.md) | [2,467](/filings/0000874015-24-000142.md) | [2,427](/filings/0000874015-24-000187.md) | [2,419](/filings/0000874015-24-000232.md) | [2,415](/filings/0000874015-26-000115.md) | [2,337](/filings/0000874015-25-000123.md) | [2,353](/filings/0000874015-25-000167.md) | [2,415](/filings/0000874015-25-000266.md) | [3,035](/filings/0000874015-26-000251.md) | [2,959](/filings/0000874015-26-000177.md) | [2,555](/filings/0000874015-26-000251.md) |
| Long-term debt | $m | not reported | [1,241](/filings/0000874015-24-000116.md) | not reported | not reported | not reported | [1,202](/filings/0000874015-25-000089.md) | not reported | not reported | not reported | [1,328](/filings/0000874015-26-000115.md) | not reported | not reported |
| Current portion of debt | $m | not reported | [0.2](/filings/0000874015-24-000116.md) | not reported | not reported | not reported | [0.2](/filings/0000874015-25-000089.md) | not reported | not reported | not reported | [432](/filings/0000874015-26-000115.md) | not reported | not reported |
| Shareholders' equity | $m | [315](/filings/0000874015-24-000232.md) | [387](/filings/0000874015-26-000115.md) | [297](/filings/0000874015-25-000167.md) | [264](/filings/0000874015-25-000266.md) | [662](/filings/0000874015-25-000266.md) | [588](/filings/0000874015-26-000251.md) | [476](/filings/0000874015-26-000251.md) | [632](/filings/0000874015-26-000251.md) | [618](/filings/0000874015-25-000266.md) | [489](/filings/0000874015-26-000251.md) | [491](/filings/0000874015-26-000251.md) | [440](/filings/0000874015-26-000251.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q3 FY2023 (2023-09-30) | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(109) d](/filings/0000874015-24-000232.md) | [32.9 d](/filings/0000874015-26-000115.md) | [(150)](/filings/0000874015-25-000123.md) | [(120) d](/filings/0000874015-25-000167.md) | [(115) d](/filings/0000874015-25-000266.md) | [(116) d](/filings/0000874015-26-000115.md) | [(151)](/filings/0000874015-26-000177.md) | [151 d](/filings/0000874015-26-000251.md) | [(131) d](/filings/0000874015-25-000266.md) | [(138) d](/filings/0000874015-26-000115.md) | [(793)](/filings/0000874015-26-000177.md) | [566 d](/filings/0000874015-26-000251.md) |
| Capital expenditure | $m | [2.1 d](/filings/0000874015-24-000232.md) | [(0.8) d](/filings/0000874015-26-000115.md) | [4.5](/filings/0000874015-25-000123.md) | [6.2 d](/filings/0000874015-25-000167.md) | [9.1 d](/filings/0000874015-25-000266.md) | [25.5 d](/filings/0000874015-26-000115.md) | [12.6](/filings/0000874015-26-000177.md) | [12.3 d](/filings/0000874015-26-000251.md) | [5.3 d](/filings/0000874015-25-000266.md) | [21.3 d](/filings/0000874015-26-000115.md) | [21.8](/filings/0000874015-26-000177.md) | [16.1 d](/filings/0000874015-26-000251.md) |
| Share repurchases | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment
- Share repurchases: not reported

## Shares

| Line item | Unit | Q3 FY2022 (2022-09-30) | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | period not labelled (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [142](/filings/0000874015-23-000209.md) | [143](/filings/0000874015-24-000142.md) | [143](/filings/0000874015-24-000187.md) | [143](/filings/0000874015-24-000232.md) | [146](/filings/0000874015-25-000123.md) | [146](/filings/0000874015-25-000167.md) | [149](/filings/0000874015-25-000266.md) | [159](/filings/0000874015-26-000177.md) | [182](/filings/0000874015-26-000251.md) | [160](/filings/0000874015-25-000266.md) | [165](/filings/0000874015-26-000177.md) | [165](/filings/0000874015-26-000251.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 166,184,322 at 2026-07-23, from the cover of the [10-Q filed 2026-07-29](/filings/0000874015-26-000251.md) (dei:EntityCommonStockSharesOutstanding).

Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 24, 2026, 15:26 ET. No prices; not investment advice.