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10-K

Annual Report

IONIS PHARMACEUTICALS, INC. IONS

0000874015-26-000115

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Filed
Feb 26, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Outstanding FY 2025 · Feb 19, 2026 165.19M sh
Shares Diluted FY 2025 · Dec 31, 2025 160.01M sh
Shares Diluted FY 2025 · Dec 31, 2024 149.51M sh
Shares Diluted FY 2025 · Dec 31, 2023 143.19M sh
Capex FY 2025 · Dec 31, 2025 $51.44M
Capex FY 2025 · Dec 31, 2024 $45.28M
Capex FY 2025 · Dec 31, 2023 $23.81M
Operating Cash Flow FY 2025 · Dec 31, 2025 −$268.58M
Operating Cash Flow FY 2025 · Dec 31, 2024 −$500.95M
Operating Cash Flow FY 2025 · Dec 31, 2023 −$307.51M
Long Term Debt FY 2025 · Dec 31, 2025 $1.33B
Short Term Debt FY 2025 · Dec 31, 2025 $432.12M
Short Term Investments FY 2025 · Dec 31, 2025 $2.31B
Short Term Investments FY 2025 · Dec 31, 2024 $2.06B
Cash And Equivalents FY 2025 · Dec 31, 2025 $372.26M
Cash And Equivalents FY 2025 · Dec 31, 2024 $242.08M
Stockholders Equity FY 2025 · Dec 31, 2025 $489.09M
Stockholders Equity FY 2025 · Dec 31, 2024 $588.35M
Stockholders Equity FY 2025 · Dec 31, 2023 $386.69M
Stockholders Equity FY 2025 · Dec 31, 2022 $572.89M
Current Liabilities FY 2025 · Dec 31, 2025 $781.57M
Current Liabilities FY 2025 · Dec 31, 2024 $309.32M
Total Liabilities FY 2025 · Dec 31, 2025 $3.03B
Total Liabilities FY 2025 · Dec 31, 2024 $2.42B
Current Assets FY 2025 · Dec 31, 2025 $2.99B
Current Assets FY 2025 · Dec 31, 2024 $2.62B
Total Assets FY 2025 · Dec 31, 2025 $3.52B
Total Assets FY 2025 · Dec 31, 2024 $3B
Eps Diluted FY 2025 · Dec 31, 2025 −$1.41
Eps Diluted FY 2025 · Dec 31, 2025 −$2.38
Eps Diluted FY 2025 · Dec 31, 2024 −$0.66
Eps Diluted FY 2025 · Dec 31, 2024 −$3.04
Eps Diluted FY 2025 · Dec 31, 2023 −$2.56
Eps Basic FY 2025 · Dec 31, 2025 −$1.41
Eps Basic FY 2025 · Dec 31, 2025 −$2.38
Eps Basic FY 2025 · Dec 31, 2024 −$0.66
Eps Basic FY 2025 · Dec 31, 2024 −$3.04
Eps Basic FY 2025 · Dec 31, 2023 −$2.56
Sga Expense FY 2025 · Dec 31, 2025 $393.87M
Sga Expense FY 2025 · Dec 31, 2024 $267.47M
Sga Expense FY 2025 · Dec 31, 2023 $232.62M
Rd Expense FY 2025 · Dec 31, 2025 $915.62M
Rd Expense FY 2025 · Dec 31, 2024 $901.53M
Rd Expense FY 2025 · Dec 31, 2023 $899.63M
Net Income FY 2025 · Dec 31, 2025 −$229.39M
Net Income FY 2025 · Dec 31, 2025 −$381.39M
Net Income FY 2025 · Dec 31, 2024 −$104.35M
Net Income FY 2025 · Dec 31, 2024 −$453.9M
Net Income FY 2025 · Dec 31, 2023 −$366.29M
Operating Income FY 2025 · Dec 31, 2025 −$214.46M
Operating Income FY 2025 · Dec 31, 2025 −$381.68M
Operating Income FY 2025 · Dec 31, 2024 −$110.82M
Operating Income FY 2025 · Dec 31, 2024 −$475.08M
Operating Income FY 2025 · Dec 31, 2023 −$353.73M
Cost Of Revenue FY 2025 · Dec 31, 2025 $15.91M
Cost Of Revenue FY 2025 · Dec 31, 2024 $11.22M
Cost Of Revenue FY 2025 · Dec 31, 2023 $9.13M
Revenue FY 2025 · Dec 31, 2025 $943.71M
Revenue FY 2025 · Dec 31, 2024 $705.14M
Revenue FY 2025 · Dec 31, 2023 $787.65M