stockrowIonis Pharmaceuticals, Inc.
IONS Healthcare Biotechnology
Ionis Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $943.7 million, up 33.8% from fiscal 2024.
- Revenue
- −40.7%
- EPS
- −188.5%
- Free cash flow
- +299.3%
- Total debt
- +116.0%
Quarter to June 2026, against a year earlier
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Ionis Pharmaceuticals, Inc. (IONS) Gross margin
Ionis Pharmaceuticals, Inc.'s gross margin over the twelve months to 30 June 2026 was 98.2%, down 0.1 percentage points from fiscal 2025 (98.3%). Over the past ten years it has ranged from 97.6% (fiscal 2022) to 100.0% (fiscal 2017); the current reading is higher than 18% of that period. That is above the Biotechnology industry median of 65.2% and above the Healthcare sector median of 53.9%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 98.3% | (0.10) |
| FY2024 | 98.4% | (0.43) |
| FY2023 | 98.8% | 1.24 |
| FY2022 | 97.6% | (1.06) |
| FY2021 | 98.7% | 0.30 |
| FY2020 | 98.4% | (1.25) |
| FY2019 | 99.6% | (0.09) |
| FY2018 | 99.7% | (0.30) |
| FY2017 | 100.0% | 0.00 |
| FY2016 | 100.0% | 0.00 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 99.0% | 0.19 |
| Mar 2026 | 98.8% | 2.70 |
| Dec 2025 | 96.1% | (2.42) |
| Sep 2025 | 98.5% | (0.57) |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| IONS Ionis Pharmaceuticals, Inc. | 98.2% |
| LGND Ligand Pharmaceuticals Incorporated compare | 95.2% |
| AXSM Axsome Therapeutics, Inc. compare | 93.3% |
| MIRM Mirum Pharmaceuticals, Inc. compare | 81.7% |
| KOD Kodiak Sciences Inc. compare | 0.00% |
| ORKA Oruka Therapeutics, Inc. compare | 0.00% |
| IMVT Immunovant, Inc. compare | 0.00% |
| CGON CG Oncology, Inc. compare | −85.2% |
| BLTE Belite Bio, Inc. Sponsored ADR compare | — |
| Biotechnology industry median | 65.2% |
| Healthcare sector median | 53.9% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on IONS
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement