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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:Depreciation.

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 itemSix Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Operating activities:
Net loss$$(207,174)(23,387)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation6,7344,494
Amortization of right-of-use operating lease assets6,9905,177
Amortization of other assets1,3611,180
Amortization of discount on investments, net(9,533)(12,978)
Amortization of debt issuance costs4,1503,288

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's D&A?
Ionis Pharmaceuticals (IONS) reported D&A of $3.43M in Q2 2026.
How has Ionis Pharmaceuticals's D&A changed year-over-year?
Ionis Pharmaceuticals's D&A increased by 51.5% year-over-year, from $2.27M to $3.43M.
What is the long-term trend for Ionis Pharmaceuticals's D&A?
Over 4 years (2021 to 2025), Ionis Pharmaceuticals's D&A has grown at a -10.3% compound annual growth rate (CAGR), from $15.49M to $10.01M.
What does D&A mean?
Total non-cash depreciation of tangible assets and amortization of intangible assets — the largest add-back to net income in the operating cash flow reconciliation.

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