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Ionis Pharmaceuticals IONS Total Cost of Revenue

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Segments

By segment

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Ionis Operations$2.56M-27.6%

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:CostOfGoodsAndServicesSold.

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 itemThree Months Ended / June 30, 2026Three Months Ended / June 30, 2025Six Months Ended / June 30, 2026Six Months Ended / June 30, 2025
Total research and development revenue149,326349,293287,608404,736
Total revenue267,949452,049514,042583,660
Expenses:
Cost of sales2,7394,1515,7215,614
Research, development and patent217,107217,460427,280418,219
Selling, general and administrative150,39690,622300,755166,872
Total operating expenses370,242312,233733,756590,705
Income (loss) from operations(102,293)139,816(219,714)(7,045)

ITEM 1. FINANCIAL STATEMENTS

FAQ

What is Ionis Pharmaceuticals's total cost of revenue?
Ionis Pharmaceuticals (IONS) reported total cost of revenue of $2.74M in Q2 2026.
How has Ionis Pharmaceuticals's total cost of revenue changed year-over-year?
Ionis Pharmaceuticals's total cost of revenue decreased by 34.0% year-over-year, from $4.15M to $2.74M.
What is the long-term trend for Ionis Pharmaceuticals's total cost of revenue?
Over 4 years (2021 to 2025), Ionis Pharmaceuticals's total cost of revenue has grown at a 10.1% compound annual growth rate (CAGR), from $10.84M to $15.91M.
What does total cost of revenue mean?
The aggregate of all direct costs attributable to producing goods and delivering services that generated the company's revenue, including materials, labor, and overhead.

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