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Ionis Pharmaceuticals IONS Q1 2026 earnings

Reported April 29, 2026 · Before market open

Revenue$246.0MBeat by $50.4MDiluted EPS-$0.56Beat by $0.29
Revenue estimate$195.6M
EPS estimate-$0.85

Next report

Aug 5, 2026 (In 3 weeks)
Revenue estimate$190.4M
EPS estimate-$0.92

Financials

Q1 2026

Income statement

See full
Revenue$246.1M+87.0%
Gross profit$243.1M+86.8%
Operating income-$117.4M+20.0%
Net income-$92.5M+37.0%
EPS (diluted)-$0.56+39.8%

Balance sheet

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Cash & equivalents$173.4M-34.4%
Total debt$691.7M+334%
Total equity$491.4M+3.3%
Total assets$3.4B+22.6%

Cash flow

See full
Operating cash flow-$792.8M-426%
CapEx$21.8M+73.0%
Free cash flow-$814.6M-399%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$13.96B+159%
Enterprise value$14.48B+175%
P/S13.2×+5.7×

Profitability

See full
Gross margin98.4%-0.2pp
Operating margin-33.3%-11.0pp
Net margin-30.9%-10.5pp

Returns & leverage

See full
Return on equity-67.6%-20.3pp
Debt / equity1.4×+1.1×
Current ratio4.1×-5.6×

Segments

By product

See full
Research And Development Revenue$138.3M+149%
Collaborative Agreement Revenue$120.7M+168%
Commercial$107.8M+41.5%
Royalty$58.3M-9.1%
Spinraza Royalties$43.7M-9.0%

By segment

See full
Ionis Operations$246.1M+87.0%

Versus estimates

Revenue

Q1 2026$246.0MBeat by $50.4M
Q4 2025$203.0MBeat by $46.9MQ4 2025$156.7MBeat by $3.1MQ2 2025$452.0MBeat by $320.3MQ1 2025$131.6MMiss by $19.0MQ4 2024$226.6MBeat by $95.4M

Diluted EPS

Q1 2026-$0.56Beat by $0.29
Q4 2025-$1.41Miss by $0.17Q4 2025-$0.61Beat by $0.54Q2 2025$0.86Beat by $0.59Q1 2025-$0.75Beat by $0.36Q4 2024-$0.66Beat by $0.43

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Questions, answered.

When did Ionis Pharmaceuticals report Q1 2026 earnings?
Ionis Pharmaceuticals (IONS) reported Q1 2026 earnings on April 29, 2026 before market open.
What were Ionis Pharmaceuticals's Q1 2026 revenue and EPS?
Ionis Pharmaceuticals reported revenue of $246.0M and diluted EPS of $-0.56 for Q1 2026.
Did Ionis Pharmaceuticals beat estimates in Q1 2026?
Revenue beat the consensus estimate of $195.6M by $50.4M. EPS beat the consensus estimate of $-0.85 by $0.29.
How did Ionis Pharmaceuticals's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 86.9% from $131.6M a year earlier and diluted EPS grew 25.3% from $-0.75.
Where can I find Ionis Pharmaceuticals's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001140361-26-017637) and the 10-Q periodic report (0000874015-26-000177) directly on SEC EDGAR. The filing index links above go to sec.gov.