Ionis Pharmaceuticals, Inc. (IONS) Earnings History
Net Loss35 years of earnings data (1991–2025) · Currently unprofitable on a TTM basis
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Ionis Pharmaceuticals, Inc. (IONS) Earnings Overview
As of October 3, 2026, Ionis Pharmaceuticals, Inc. (IONS) reported trailing twelve-month net income of -$565M, reflecting +21.7% year-over-year growth. The company earned $-3.41 per diluted share over the past four quarters, with a net profit margin of -40.4%.
Looking at the long-term picture, IONS's historical earnings data spans multiple years. The company achieved its highest annual net income of $278M in fiscal 2019.
Ionis Pharmaceuticals, Inc. is currently reporting a net loss, though operating performance should be evaluated in the context of growth investments and industry dynamics View revenue history →
Compared to peers including ALNY ($808M net income, 8.4% margin), SRPT (-$137M net income, -32.5% margin), BMRN ($73M net income, 10.8% margin), IONS has room to improve margins relative to the peer group. Compare IONS vs ALNY →
IONS Earnings vs Peers
Earnings metrics vs comparable public companies
IONS Historical Earnings Data (1991–2025)
35 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | -$381M | +16.1% | -$382M | $-2.38 | -40.4% | -40.5% |
| 2024 | -$454M | -23.9% | -$475M | $-3.04 | -64.4% | -67.4% |
| 2023 | -$366M | -35.8% | -$354M | $-2.56 | -46.5% | -44.9% |
| 2022 | -$270M | -843.2% | -$410M | $-1.90 | -45.9% | -69.8% |
| 2021 | -$29M | +93.6% | -$30M | $-0.20 | -3.5% | -3.7% |
| 2020 | -$444M | -259.7% | -$172M | $-3.18 | -60.9% | -23.6% |
| 2019 | $278M | +1.6% | $366M | $2.06 | 24.8% | 32.6% |
| 2018 | $274M | +79015.9% | -$61M | $2.04 | 45.6% | -10.2% |
| 2017 | $346,000 | +100.6% | $31M | $-0.05 | 0.1% | 6.0% |
| 2016 | -$60M | +31.6% | -$20M | $-0.72 | -16.2% | -5.4% |
| 2015 | -$88M | -126.4% | -$76M | $-0.74 | -31.1% | -26.7% |
| 2014 | -$39M | +35.7% | -$48M | $-0.33 | -18.2% | -22.3% |
| 2013 | -$61M | +7.4% | -$52M | $-0.55 | -41.2% | -35.1% |
| 2012 | -$65M | +22.8% | -$69M | $-0.65 | -64.2% | -67.5% |
| 2011 | -$85M | -38.4% | -$71M | $-0.85 | -85.6% | -71.8% |
| 2010 | -$61M | -139.5% | -$48M | $-0.62 | -56.5% | -44.6% |
| 2009 | $155M | +953.3% | -$28M | $1.58 | 127.5% | -22.6% |
| 2008 | -$18M | -65.3% | -$13M | $-0.13 | -17.0% | -12.2% |
| 2007 | -$11M | +76.0% | -$33M | $-0.13 | -18.8% | -56.4% |
| 2006 | -$46M | +36.6% | -$65M | $-0.62 | -308.9% | -438.9% |
| 2005 | -$72M | +49.2% | -$57M | $-1.15 | -180.4% | -142.5% |
| 2004 | -$143M | -50.0% | -$118M | $-2.52 | -334.3% | -276.5% |
| 2003 | -$95M | -31.5% | -$79M | $-1.71 | -190.0% | -158.0% |
| 2002 | -$72M | +2.2% | -$51M | $-1.33 | -90.1% | -63.4% |
| 2001 | -$74M | -38.0% | -$46M | $-1.67 | -138.6% | -86.5% |
| 2000 | -$53M | +9.7% | -$29M | $-1.44 | -143.6% | -77.8% |
| 1999 | -$59M | -37.7% | -$43M | $-2.06 | -174.6% | -127.1% |
| 1998 | -$43M | -38.3% | -$33M | $-1.60 | -109.7% | -82.9% |
| 1997 | -$31M | -17.4% | -$31M | $-1.17 | -95.1% | -95.7% |
| 1996 | -$27M | -11.8% | -$29M | $-1.04 | -116.7% | -128.2% |
| 1995 | -$24M | -30.2% | -$26M | $-1.10 | -182.3% | -196.9% |
| 1994 | -$18M | +4.7% | -$23M | $-0.93 | -180.2% | -222.8% |
| 1993 | -$19M | +2.1% | -$18M | $-1.22 | -157.9% | -151.2% |
| 1992 | -$20M | -124.1% | -$22M | $-1.51 | -224.1% | -248.3% |
| 1991 | -$9M | - | -$11M | $-0.84 | -138.1% | -166.7% |
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IONS — Frequently Asked Questions
Quick answers to the most common questions about buying IONS stock.
What is IONS earnings per share (EPS)?
IONS trailing twelve-month (TTM) diluted EPS is $-3.41, reflecting +21.7% year-over-year growth. The 5-year EPS CAGR is N/A. Complete EPS history from 1991 to 2025 is available in the table on this page.
What is Ionis Pharmaceuticals, Inc.'s net income?
Ionis Pharmaceuticals, Inc. (IONS) trailing twelve-month net income is $-565M as of 2025. Earnings grew +21.7% year-over-year.
Is IONS profitable?
IONS is not currently profitable on a TTM basis, reporting a net loss of $-565M. Net margin is -40.4%. Investors should monitor for a return to profitability.
What is IONS's earnings growth rate?
IONS compound annual EPS growth rates (CAGR): 1-Year: N/A, 3-Year: N/A, 5-Year: N/A, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 1991 to 2025.
What are IONS's profit margins?
Ionis Pharmaceuticals, Inc. net profit margin is -40.4%, operating margin is -40.5%, and gross margin is +98.3%. Below-average margins reflect competitive or cost pressures. Return on Equity is -70.7%.
Is IONS growing earnings?
Yes, IONS earnings are accelerating — EPS growth of +21.7% exceeds the 5-year CAGR of N/A. TTM net income reached $-565M. Earnings momentum is strengthening.
What was IONS's best earnings year?
Ionis Pharmaceuticals, Inc.'s highest annual net income on record is $278M, achieved in fiscal year 2019. Earnings history on this page spans 1991 to 2025 and includes all annual and quarterly figures.
What were IONS's earnings last quarter?
IONS's most recent reported quarter was Q2 2026. Net income was $-115M with diluted EPS of $-0.69. For a full breakdown of all quarters, see the quarterly earnings table on this page.