Filing Flows › Alnylam Pharmaceuticals (ALNY) › Q4 2025
Alnylam Pharmaceuticals (ALNY) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 12, 2026
Alnylam Pharmaceuticals (ALNY) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +85% from a year earlier and -12% from the quarter before. Operating margin was 12.0%, net earnings $112M (10.2% of revenue).
Alnylam Pharmaceuticals, Q4 2025: revenue $1.1B (+85% year over year), operating margin 12.0%, net earnings $112M, operating cash flow $164M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.1B | -12% | +85% |
| Operating profit | $132M | -64% | — |
| Net earnings | $112M | -56% | — |
| Operating cash flow | $164M | -50% | — |
| Free cash flow | $140M | -55% | — |
What changed
Revenue was $1.1B in Q4 2025, up 85% year over year and down 12% from the previous quarter. AMVUTTRA was the largest line at 75% of revenue.
Operating profit was $0.13B, a 12.0% margin (up 29.7 points year over year). Total costs grew 38% against revenue growth of 85%. The fastest-growing cost line was Cost of revenue (+161%). Net earnings were $0.11B. The effective tax rate was -29.3%.
Operating cash flow was $0.16B, 147% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.07B of share-based compensation. Working capital and other items used $0.03B. Capital expenditures of $0.02B left free cash flow of $0.14B.
Questions
What was Alnylam Pharmaceuticals' revenue in the fourth quarter 2025?
Alnylam Pharmaceuticals (ALNY) reported revenue of $1.1B for the fourth quarter 2025 (Q4 2025), +85% from a year earlier and -12% from the quarter before.
Was Alnylam Pharmaceuticals profitable in the fourth quarter 2025?
Operating profit was $132M (12.0% of revenue) and net earnings $112M.