Filing Flows › Alnylam Pharmaceuticals (ALNY) › Q3 2026 › vs Q3 2025
Alnylam Pharmaceuticals (ALNY) Q3 2026 vs Q3 2025 (year over year)
Alnylam Pharmaceuticals's revenue rose $209M (+17%) from $1.2B in Q3 2025 to $1.5B in Q3 2026. The biggest changes: Net product revenues +$213M (+20%); ONPATTRO −$19.5M (-50%); Total Rare +$15.3M (+12%). Operating margin 23.7% against 29.5% (-5.7 pts).
Alnylam Pharmaceuticals, Q3 2026: revenue $1.5B (+17% year over year), operating margin 23.7%, net earnings $2.2B, operating cash flow $341M. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Operating margin | 23.7% | 29.5% | -5.7 pts |
| Net margin | 148.6% | 23.4% | +125.2 pts |
| Free cash flow margin | 18.6% | 22.8% | -4.2 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| AMVUTTRA | $1.1B | $685M | $445M | +65% |
| Royalty revenue | $94.7M | $46.2M | $48.5M | +105% |
| GIVLAARI | $89.5M | $73.9M | $15.6M | +21% |
| Net revenues from collaborations | $71.5M | $352M | −$280M | -80% |
| OXLUMO | $52.5M | $52.8M | −$330K | -0.6% |
| Net product revenues | $1.3B | $1.1B | $213M | +20% |
| Total Rare | $142M | $127M | $15.3M | +12% |
| ONPATTRO | $19.6M | $39.1M | −$19.5M | -50% |
| Revenue | $1.5B | $1.2B | $209M | +17% |
| Operating profit | $346M | $368M | −$22.2M | -6% |
| Costs & expenses | $1.1B | $881M | $231M | +26% |
| Pre-tax earnings | $296M | $281M | $15.2M | +5% |
| Other expense, net | $50.0M | $87.4M | −$37.4M | -43% |
| Cost of revenue | $362M | $197M | $165M | +83% |
| Research & development | $409M | $359M | $49.7M | +14% |
| SG&A | $342M | $322M | $19.9M | +6% |
| Income tax benefit | $1.9B | $12.1M | $1.9B | 154× |
| Net earnings | $2.2B | $293M | $1.9B | +641% |
| Depreciation & amortization | $14.5M | $13.8M | $673K | +5% |
| Share-based compensation | $79.1M | $108M | −$29.1M | -27% |
| Working capital & other | $1.9B | $118M | $1.8B | 16× |
| Operating cash flow | $341M | $297M | $44.1M | +15% |
| Free cash flow (OCF − capex) | $271M | $285M | −$13.6M | -5% |
| Capital expenditures | $69.8M | $12.1M | $57.7M | +475% |
Questions
How much did Alnylam Pharmaceuticals's revenue grow year over year in Q3 2026?
Alnylam Pharmaceuticals's revenue rose $209M (+17%) from $1.2B in Q3 2025 to $1.5B in Q3 2026.
What drove Alnylam Pharmaceuticals's revenue change in Q3 2026?
Net product revenues +$213M (+20%); ONPATTRO −$19.5M (-50%); Total Rare +$15.3M (+12%).