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Alnylam Pharmaceuticals ALNY Research Services Obligation — Deferred Revenue

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Other financials

Income statement

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Revenue$1.3B+66.9%
Gross profit$992.7M+57.2%
Operating income$231.4M+1,529%
Net income$164.5M+348%
EPS (diluted)$1.21+337%

Balance sheet

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Cash & equivalents$1.7B+53.2%
Total debt$256.4M-5.2%
Total equity$1.4B+440%
Total assets$5.6B+21.7%

Cash flow

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Operating cash flow$326.7M+113%
CapEx$34.7M+143%
Free cash flow$292.0M+109%

Valuation

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Market cap$30.6B-45.5%
Enterprise value$29.15B-47.3%
P/E41.8×
P/S6.4×-16.4×

Profitability

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Gross margin79.8%-4.1pp
Operating margin20.8%+16.5pp
Net margin15.3%+10.7pp
FCF margin16.5%+14.8pp

Returns & leverage

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Return on equity91.4%
Debt / equity0.2×-0.9×
Current ratio3.1×+0.3×

Where this comes from

Reported directly by Alnylam Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityCurrent.

The source filing: Alnylam Pharmaceuticals’s 10-Q, filed July 30, 2026.

Filed
Jul 30, 2026, 8:11 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001178670-26-000062

Deferred revenue is classified as either current or noncurrent in the condensed consolidated balance sheets based on the period the revenue is expected to be recognized. Current deferred revenue was $4.0 million and $4.8 million as of June 30, 2026 and December 31, 2025, respectively, related only to the Research Services Obligation.

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FAQ

What is Alnylam Pharmaceuticals's research services obligation — deferred revenue?
Alnylam Pharmaceuticals (ALNY) reported research services obligation — deferred revenue of $4M in Q2 2026.
How has Alnylam Pharmaceuticals's research services obligation — deferred revenue changed year-over-year?
Alnylam Pharmaceuticals's research services obligation — deferred revenue decreased by 73.5% year-over-year, from $15.08M to $4M.
What is the long-term trend for Alnylam Pharmaceuticals's research services obligation — deferred revenue?
Over 4 years (2021 to 2025), Alnylam Pharmaceuticals's research services obligation — deferred revenue has grown at a -27.1% compound annual growth rate (CAGR), from $175.8M to $49.77M.
What does research services obligation — deferred revenue mean?
Represents the portion of the transaction price for research services that has been billed or collected but not yet recognized as revenue because the performance obligations remain unsatisfied. This liability reflects future research work that the company is contractually obligated to perform. A high balance indicates a significant backlog of research activities to be completed.

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