Ionis Pharmaceuticals, Inc. (IONS) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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Revenue Growth Metrics
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 March 1, 2026, Ionis Pharmaceuticals, Inc. (IONS) generated trailing twelve-month (TTM) revenue of $943.4 million, reflecting significant decline in growth of -10.4% year-over-year. The most recent quarter (Q4 2025) recorded $203.0 million in revenue, up 29.5% 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 (+65.2% YoY), ARWR (+4081.8% YoY), and CRSP (-81.7% YoY), IONS has underperformed the peer group in terms of revenue growth. Compare IONS vs ALNY →
Peer Comparison
Compare IONS's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| IONSCurrent | $943M | -10.4% | +5.3% | -40.5% | |
| ALNY | $3.7B | +65.2% | +49.8% | 13.5% | |
| ARWR | $829M | +4081.8% | +56.6% | 11.9% | |
| CRSP | $4M | -81.7% | +37.3% | -18933.6% | |
| BEAM | $140M | +120.0% | +466.3% | -274.6% | |
| WVE | $108M | +103.7% | +46.6% | -101.9% |
Historical Revenue Data
| 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 ComparisonFrequently Asked Questions
Is IONS's revenue growth accelerating or slowing?
IONS revenue declined -10.4% year-over-year, contrasting with the 5-year CAGR of +5.3%. TTM revenue fell to $943M. This reverses the prior growth trend.
What is IONS's long-term revenue growth rate?
Ionis Pharmaceuticals, Inc.'s 5-year revenue CAGR of +5.3% reflects the variable expansion pattern. Current YoY growth of -10.4% is below 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.