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Ionis Pharmaceuticals IONS Contract Liabilities

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Other financials

Income statement

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Revenue$267.9M-40.7%
Gross profit$265.2M-40.8%
Operating income-$102.3M-173%
Net income-$114.6M-193%
EPS (diluted)-$0.69-199%

Balance sheet

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Cash & equivalents$350.1M+17.7%
Total debt$262.5M-67.0%
Total equity$439.7M-30.4%
Total assets$3.0B+0.3%

Cash flow

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Operating cash flow-$792.8M-426%
CapEx$16.1M+30.7%
Free cash flow-$814.6M-399%

Valuation

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Market cap$9.01B+38.9%
Enterprise value$8.92B+27.7%
P/S10.3×+3.4×

Profitability

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Gross margin98.2%-0.7pp
Operating margin-68%-234pp
Net margin-64.7%-299pp
FCF margin-77.4%+35.3pp

Returns & leverage

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Return on equity-105.5%+336pp
Debt / equity0.6×-0.7×
Current ratio7.9×+5.0×

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:ContractWithCustomerLiabilityNoncurrent.

The source filing: Ionis Pharmaceuticals’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 5:05 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000874015-26-000251
Line itemJune 30, 2026December 31, 2025
Current portion of deferred contract revenue73,83773,761
Other current liabilities25,14922,738
Total current liabilities315,638781,567
Long-term deferred contract revenue63,03092,001
0 percent convertible senior notes due 2030, net753,356751,495
1.75 percent convertible senior notes due 2028, net569,255567,830
Liability related to sale of future royalties, net562,574551,353
Long-term lease liabilities262,476262,383

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's contract liabilities?
Ionis Pharmaceuticals (IONS) reported contract liabilities of $63.03M in Q2 2026.
How has Ionis Pharmaceuticals's contract liabilities changed year-over-year?
Ionis Pharmaceuticals's contract liabilities decreased by 49.6% year-over-year, from $125.1M to $63.03M.
What is the long-term trend for Ionis Pharmaceuticals's contract liabilities?
Over 5 years (2020 to 2025), Ionis Pharmaceuticals's contract liabilities has grown at a -26.3% compound annual growth rate (CAGR), from $424.05M to $92M.
What does contract liabilities mean?
Revenue collected or billed in advance of performance — deferred revenue under ASC 606 terminology, representing future revenue obligations.

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