Ionis Pharmaceuticals (IONS) Q3 FY2026 earnings: revenue $243 million, up 54.9% on the year
Ionis Pharmaceuticals Inc. (IONS) reported revenue of $243 million for Q3 FY2026, the quarter ended 30 September 2026, up 54.9% on the same quarter a year earlier. Net income was -$110 million, and diluted earnings per share $-0.66. The figures are the company's own, from the 10-Q it filed with the SEC on 9 November 2026.
Revenue
$243 million
+54.9% on the year · -9.4% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
-53.8%
-102.2% a year earlier
Q4 FY2024Q3 FY2026
Net income
-$110 million
Q4 FY2024Q3 FY2026
Diluted EPS
-$0.66
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 1 lowered, 3 kept.
Revenue rose 55% in quarter: Total revenue was $243 million in the third quarter, against $157 million a year earlier, and $757 million for nine months. Growth is stated excluding a one-time $280 million sapablursen upfront payment received in the second quarter of 2025.
TRYNGOLZA sales $9 million: TRYNGOLZA U.S. net product sales were $9 million in the third quarter, against $32 million a year earlier, and $41 million for nine months. Management links the lower figure to a more gradual sHTG launch ramp.
DAWNZERA sales rose to $37 million: DAWNZERA U.S. net product sales were $37 million, against $26 million in the second quarter, and $79 million for nine months. Ex-U.S. launch is underway, with new market approvals in Europe and Canada.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
-179
566
-131
Capital expenditure
12.7
16.1
5.3
-20.9%
+141.2%
Free cash flow
-192
549
-137
Free cash flow margin
-79.2%
205.1%
-87.2%
Cash from investing
99.9
23.5
91.3
+325.1%
+9.3%
Cash from financing
25.8
-412
81.2
-68.2%
Depreciation and amortisation
4.3
4.1
2.9
+4.9%
+50.7%
Share-based compensation
43.4
45.6
31.1
-4.8%
+39.4%
Diluted shares, weighted
166m
165m
160m
+0.5%
+4.0%
Shares outstanding at period end
166m
166m
161m
+0.5%
+3.3%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
394
440
618
-10.5%
-36.3%
Debt
1,324
1,323
1,198
+0.1%
+10.5%
Operating lease liabilities
262
262
263
+0.0%
-0.1%
Other liabilities
932
970
954
-3.9%
-2.3%
Total liabilities and equity
2,913
2,995
3,033
-2.7%
-4.0%
Fixed assets
162
155
106
+4.5%
+52.7%
Investments
2,149
2,352
2,603
-8.6%
-17.5%
Cash and equivalents
296
350
338
-15.4%
-12.4%
Inventory
28.6
50.8
10.5
-43.8%
+173.0%
Other assets
277
86.6
n/a
+219.9%
Total assets
2,913
2,995
3,033
-2.7%
-4.0%
Questions
What was Ionis Pharmaceuticals' revenue in Q3 FY2026?
Ionis Pharmaceuticals (IONS) reported revenue of $243 million for Q3 FY2026, the quarter ended 30 September 2026, up 54.9% on the same quarter a year earlier.
How much did Ionis Pharmaceuticals earn in Q3 FY2026?
Net loss for Q3 FY2026 was $110 million, and the diluted loss per share $0.66.
When did Ionis Pharmaceuticals report Q3 FY2026 results?
Ionis Pharmaceuticals filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 9 November 2026.
Each quarter as filed, linked to its filing. Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 9 November 2026: the filing.