Ionis Pharmaceuticals, Inc. (IONS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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IONS Revenue Growth
Revenue Breakdown (FY 2025)
IONS's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
IONS Revenue Analysis (2014–2025)
As of May 8, 2026, Ionis Pharmaceuticals, Inc. (IONS) generated trailing twelve-month (TTM) revenue of $1.06 billion, reflecting explosive growth of +87.0% year-over-year. The most recent quarter (Q1 2026) recorded $246.1 million in revenue, up 21.2% sequentially.
Looking at the longer-term picture, IONS's 5-year compound annual growth rate (CAGR) stands at +5.3%, indicating steady revenue expansion. The company achieved its highest annual revenue of $1.12 billion in 2019.
Revenue diversification analysis shows IONS's business is primarily driven by Commercial Member (52%), Royalty (34%), and Product (14%). With over half of revenue concentrated in Commercial Member, the company maintains significant focus in this area while developing other growth vectors.
When compared to Healthcare sector peers including ALNY (+82.6% YoY), SRPT (-2.2% YoY), and BMRN (+9.9% YoY), IONS has outperformed the peer group in terms of revenue growth. Compare IONS vs ALNY →
IONS Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IONSCurrent | $1.1B | +87.0% | +5.3% | -40.5% | |
 ALNY | $3.7B | +82.6% | +49.8% | 13.5% | |
 SRPT | $2.2B | -2.2% | +32.4% | -29.9% | |
 BMRN | $3.2B | +9.9% | +11.6% | 16.6% | |
 RARE | $673M | +13.3% | +19.9% | -79.5% |
IONS Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $944.0M | +33.9% | $928.0M | 98.3% | $-382,000,000 | -40.5% |
| 2024 | $705.1M | -10.5% | $693.9M | 98.4% | $-475,081,000 | -67.4% |
| 2023 | $787.6M | +34.1% | $778.5M | 98.8% | $-353,730,000 | -44.9% |
| 2022 | $587.4M | -27.5% | $573.3M | 97.6% | $-410,191,000 | -69.8% |
| 2021 | $810.5M | +11.1% | $799.6M | 98.7% | $-30,186,000 | -3.7% |
| 2020 | $729.3M | -35.0% | $717.3M | 98.4% | $-172,082,000 | -23.6% |
| 2019 | $1.12B | +87.2% | $1.12B | 99.6% | $365.9M | 32.6% |
| 2018 | $599.7M | +16.6% | $597.9M | 99.7% | $-61,372,000 | -10.2% |
| 2017 | $514.2M | +37.9% | $514.2M | 100.0% | $31.0M | 6.0% |
| 2016 | $372.8M | +31.4% | $372.8M | 100.0% | $-20,160,000 | -5.4% |
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Start ComparisonIONS — Frequently Asked Questions
Quick answers to the most common questions about buying IONS stock.
Is IONS's revenue growth accelerating or slowing?
IONS revenue is accelerating at +87.0% year-over-year, exceeding the 5-year CAGR of +5.3%. TTM revenue reached $1.1B. Growth momentum has increased versus prior periods.
What is IONS's long-term revenue growth rate?
Ionis Pharmaceuticals, Inc.'s 5-year revenue CAGR of +5.3% reflects the sustained expansion pattern. Current YoY growth of +87.0% is above this long-term average.
How is IONS's revenue distributed by segment?
IONS reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.