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Ionis Pharmaceuticals IONS Royalty — Revenue

Other product segments

Research And Development Revenue
$138.28M+149%
Collaborative Agreement Revenue
$120.66M+168%
Commercial
$107.81M+41.5%
Spinraza Royalties
$43.71M-9.0%
Tryngolza
$27.1M+331%
Wainua Joint Development Revenue
$17.62M+69.2%
Wainus Royalties
$10.71M+14.3%
Other Commercial
$6.53M+14.3%
Other Royalties
$3.9M-42.5%

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BIIBRoyalty and other revenue — Total Revenue
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BBIOLicense Revenue — Revenue
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INCYProduct royalty revenues — Total revenues
$151.19M+15.7%

Other financials

Income statement

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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

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

Valuation

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Market cap$12.25B+159%
Enterprise value$12.77B+175%
P/S11.6×+5.0×

Profitability

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Gross margin98.4%-0.2pp
Operating margin-33.3%-11.0pp
Net margin-30.9%-10.5pp
FCF margin-77.4%+35.3pp

Returns & leverage

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

Where this comes from

Reported directly by Ionis Pharmaceuticals in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The official record: Ionis Pharmaceuticals’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ionis Pharmaceuticals's royalty — revenue?
Ionis Pharmaceuticals (IONS) reported royalty — revenue of $58.32M in Q1 2026.
How has Ionis Pharmaceuticals's royalty — revenue changed year-over-year?
Ionis Pharmaceuticals's royalty — revenue decreased by 9.1% year-over-year, from $64.17M to $58.32M.
What is the long-term trend for Ionis Pharmaceuticals's royalty — revenue?
Over 2 years (2023 to 2025), Ionis Pharmaceuticals's royalty — revenue has grown at a 2.3% compound annual growth rate (CAGR), from $272.8M to $285.53M.
What does royalty — revenue mean?
Revenue earned from licensing fees and royalties paid by partners for the use of the company's drug development technology.
How do you interpret royalty — revenue?
An increase indicates higher commercial adoption and sales volume of partner-marketed drugs utilizing the company's technology, while a decrease may signal patent expirations, loss of market share, or reduced partner sales performance.
How does royalty — revenue compare across companies?
Comparable to royalty revenue streams in other biotechnology or pharmaceutical firms that utilize a licensing-heavy business model, often benchmarked against total licensing revenue or royalty percentage agreements.