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Ionis Pharmaceuticals IONS Q2 2025 earnings

Reported July 30, 2025 · Before market open

Revenue$452.0MBeat by $320.3M
EPS$0.86Beat by $0.59
Revenue estimate$131.7M
EPS estimate$0.27

Next report

Nov 4, 2026 (in 2 months)
Revenue estimate$181.8M
EPS estimate-$1.22

Financials

Q2 2025

Income statement

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Revenue$452.0M+101%
Gross profit$447.9M+103%
Operating income$139.8M+312%
Net income$123.6M+286%
EPS (diluted)$0.70+256%

Balance sheet

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Cash & equivalents$297.3M+1.1%
Total debt$794.5M+277%
Total equity$631.7M+140%
Total assets$3.0B+10.9%

Cash flow

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Operating cash flow$151.3M+226%
CapEx$12.3M+97.4%

Valuation & ratios

Valuation

as of 06/30/25
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Market cap$6.31B-9.0%
Enterprise value$6.81B-0.7%
P/S6.7×-1.8×

Profitability

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Gross margin98.9%+0.3pp
Operating margin-28.2%-7.6pp
Net margin-28.4%-7.6pp

Returns & leverage

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Return on equity-59.9%-18.1pp
Debt / equity1.3×+0.5×
Current ratio2.9×-4.7×

Segments

By product

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Research And Development Revenue$349.3M+128%
Collaborative Agreement Revenue$336.9M+138%
Commercial$102.8M+42.6%
Royalty$70.0M—
Spinraza Royalties$54.3M-4.2%

By segment

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Ionis Operations$452.0M+101%

FAQ

When did Ionis Pharmaceuticals report Q2 2025 earnings?
Ionis Pharmaceuticals (IONS) reported Q2 2025 earnings on July 30, 2025 before market open.
What were Ionis Pharmaceuticals's Q2 2025 revenue and EPS?
Ionis Pharmaceuticals reported revenue of $452.0M and eps of $0.86 for Q2 2025.
Did Ionis Pharmaceuticals beat estimates in Q2 2025?
Revenue beat the consensus estimate of $131.7M by $320.3M. EPS beat the consensus estimate of $0.27 by $0.59.
How did Ionis Pharmaceuticals's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 100.7% from $225.3M a year earlier.
Where can I find Ionis Pharmaceuticals's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001140361-25-027949) and the 10-Q periodic report (0000874015-25-000167) directly on SEC EDGAR. The filing index links above go to sec.gov.