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Ionis Pharmaceuticals Inc cash flow statement

In fiscal 2025, Ionis Pharmaceuticals Inc's operations generated −$269m of cash; it spent $51.4m on capital projects, leaving free cash flow of −$320m.

Cash flow statement

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2009Dec 20092010Dec 20102011Dec 20112012Dec 20122013Dec 20132014Dec 20142015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Cash from operations−108−64−115263621−1121746033463631−274−308−501−269−496
Depreciation and amortisation457776777111313151410101012
Stock-based pay13121091131597286131147230121100106130134163
Capital spending1313101288735143135121624455164
Free cash flow−122−77−125062−113−119139589315119−290−331−546−320−561
Free cash flow after stock pay−135−89−135−851−33−46−19153458168−229−102−390−437−676−454−724
Share buybacks————————00349100————
Shares issued———01730007244800—004890—

Free cash flow is cash from operations minus capital spending. Free cash flow after stock pay also subtracts stock-based compensation, a real cost to shareholders that the cash flow statement adds back. Dividends, buybacks and shares issued are cash amounts for the period.

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Figures from Ionis Pharmaceuticals Inc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ionis Pharmaceuticals Inc.