Filing Flows › Ionis Pharmaceuticals (IONS) › Q3 2026 › vs Q3 2025
Ionis Pharmaceuticals (IONS) Q3 2026 vs Q3 2025 (year over year)
Ionis Pharmaceuticals's revenue rose $86.0M (+55%) from $157M in Q3 2025 to $243M in Q3 2026. The biggest changes: Research and Development Revenue +$65.4M (+159%); Commercial Revenue +$20.6M (+18%).
Ionis Pharmaceuticals, Q3 2026: revenue $243M (+55% year over year), operating margin -53.8%, net loss $110M, operating cash flow −$179M. The chart draws each line against Q3 2025, the increases inside each band.
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Collaborative Agreement Revenue | $103M | $31.4M | $71.3M | +227% |
| SPINRAZA Royalties | $69.4M | $55.9M | $13.5M | +24% |
| DAWNZERA Sales, Net | $36.8M | $738K | $36.0M | 50× |
| TRYNGOLZA Sales, Net | $9.3M | $31.8M | −$22.5M | -71% |
| Other Commercial Revenue | $7.3M | $7.4M | −$57K | -0.8% |
| WAINUA Royalties | $6.8M | $13.3M | −$6.5M | -49% |
| Other Royalties | $4.4M | $6.5M | −$2.1M | -33% |
| WAINUA Joint Development Revenue | $3.7M | $9.7M | −$5.9M | -61% |
| ZANVASTRO Sales, Net | $2.2M | $0 | $2.2M | — |
| Commercial Revenue | $136M | $116M | $20.6M | +18% |
| Research and Development Revenue | $107M | $41.1M | $65.4M | +159% |
| Revenue | $243M | $157M | $86.0M | +55% |
| Other income, net | $20.6M | $31.8M | −$11.2M | -35% |
| Income tax benefit | $141K | −$213K | $354K | — |
| Net loss | $110M | $129M | −$18.6M | -14% |
| Costs & expenses | $373M | $317M | $56.3M | +18% |
| Operating costs | $373M | $317M | $56.5M | +18% |
| Cost of revenue | $3.3M | $2.3M | $984K | +42% |
| SG&A | $154M | $96.8M | $57.4M | +59% |
| Other operating costs | $216M | $218M | −$1.9M | -0.9% |
| Operating cash sources | $227M | $165M | $61.7M | +37% |
| Depreciation & amortization | $4.3M | $2.9M | $1.5M | +51% |
| Share-based compensation | $43.4M | $31.1M | $12.3M | +39% |
| Cash used in operations | $179M | $131M | $48.0M | +37% |
| Net loss absorbed | $110M | $129M | −$18.6M | -14% |
| Working capital & other | $117M | $36.9M | $80.4M | +218% |
Questions
How much did Ionis Pharmaceuticals's revenue grow year over year in Q3 2026?
Ionis Pharmaceuticals's revenue rose $86.0M (+55%) from $157M in Q3 2025 to $243M in Q3 2026.
What drove Ionis Pharmaceuticals's revenue change in Q3 2026?
Research and Development Revenue +$65.4M (+159%); Commercial Revenue +$20.6M (+18%).