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How Alnylam Pharmaceuticals (ALNY) makes money
Alnylam Pharmaceuticals (ALNY) made $1.5B of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Net product revenues brought in $1.3B (89%); Total Rare brought in $142M (10%); ONPATTRO brought in $19.6M (1%). Of every dollar of revenue, 24¢ was left as operating profit, 149¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Net product revenues | $1.3B | 88.9% | +15% | +20% |
| ↳ AMVUTTRA | $1.1B | 77.5% | +12% | +65% |
| ↳ Royalty revenue | $94.7M | 6.5% | +32% | +105% |
| ↳ Net revenues from collaborations | $71.5M | 4.9% | +52% | -80% |
| Total Rare | $142M | 9.7% | +0.1% | +12% |
| ↳ GIVLAARI | $89.5M | 6.1% | -0.3% | +21% |
| ↳ OXLUMO | $52.5M | 3.6% | +0.7% | -0.6% |
| ONPATTRO | $19.6M | 1.3% | +6% | -50% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $1.5B | 100.0% |
| Operating profit | $346M | 23.7% |
| Net earnings | $2.2B | 148.6% |
| Operating cash flow | $341M | 23.4% |
| Free cash flow | $271M | 18.6% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $1.5B | +17% |
| Q2 2026 | $1.3B | +67% |
| Q4 2025 | $1.1B | +85% |
| Q3 2025 | $1.2B | +149% |
| Q2 2025 | $774M | +17% |
| Q1 2025 | $594M | +20% |
| Q4 2024 | $593M | +35% |
From Alnylam Pharmaceuticals' 10-Q filed Oct 29, 2026 (on EDGAR).
Questions
How does Alnylam Pharmaceuticals make money?
Alnylam Pharmaceuticals (ALNY) made $1.5B of revenue in the third quarter 2026 (Q3 2026), +17% from a year earlier. Net product revenues brought in $1.3B (89%); Total Rare brought in $142M (10%); ONPATTRO brought in $19.6M (1%). Of every dollar of revenue, 24¢ was left as operating profit, 149¢ was left as net earnings.
What is Alnylam Pharmaceuticals' biggest business?
Net product revenues: $1.3B in the third quarter 2026, 89% of revenue, +20% from a year earlier.
What is Alnylam Pharmaceuticals' profit margin?
Net earnings were $2.2B, 148.6% of revenue, in the third quarter 2026; the operating margin was 23.7%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.