Filing Flows › Alnylam Pharmaceuticals (ALNY) › Q2 2025
Alnylam Pharmaceuticals (ALNY) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 31, 2025
Alnylam Pharmaceuticals (ALNY) reported revenue of $774M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +30% from the quarter before. Operating margin was -2.1%, net loss $66.3M (8.6% of revenue).
Alnylam Pharmaceuticals, Q2 2025: revenue $774M (+17% year over year), operating margin -2.1%, net loss $66.3M, operating cash flow $154M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $774M | +30% | +17% |
| Operating profit | −$16.2M | -190% | — |
| Net earnings | −$66.3M | — | — |
| Operating cash flow | $154M | — | +24% |
| Free cash flow | $139M | — | +20% |
What changed
Revenue was $773.7M in Q2 2025, up 17% year over year and up 30% from the previous quarter. AMVUTTRA was the largest line at 64% of revenue. AMVUTTRA added $261.8M year over year (up 114%), 230% of the total change. Net revenues from collaborations declined 73%.
Operating costs exceeded revenue by $16.2M, an operating margin of -2.1%. Total costs grew 29% against revenue growth of 17%. The fastest-growing cost line was Cost of revenue (+111%). The quarter ended with a net loss of $66.3M, wider than the previous quarter's $57.5M loss.
Operating cash flow was $153.7M (up 24% year over year). Non-cash charges added back $13.9M of depreciation and amortization and $111.7M of share-based compensation. Working capital and other items added $94.4M. Capital expenditures of $14.3M left free cash flow of $139.4M.
Questions
What was Alnylam Pharmaceuticals' revenue in the second quarter 2025?
Alnylam Pharmaceuticals (ALNY) reported revenue of $774M for the second quarter 2025 (Q2 2025), +17% from a year earlier and +30% from the quarter before.
Was Alnylam Pharmaceuticals profitable in the second quarter 2025?
Operating loss was $16.2M (-2.1% of revenue) and net loss $66.3M.