Ionis Pharmaceuticals (IONS) Gross Margin (2018 - 2026)
Ionis Pharmaceuticals' (IONS) quarterly Gross Margin came in at 98.79% in Q1 2026, down 10.0% year-on-year from 109.76% in Q1 2025, and up 2.81% quarter-over-quarter from 96.09% in Q4 2025.
Ionis Pharmaceuticals (IONS) Gross Margin (2018 - 2026) Analysis & Trends
Ionis Pharmaceuticals' Gross Margin history runs 9 years deep, the most recent figure standing at 98.79% for Q1 2026.
- On a quarterly basis, Gross Margin fell 10.0% year-over-year to 98.79% in Q1 2026; TTM through Mar 2026 was 97.13%, a 140.0% decrease from a year earlier, with the FY2025 full-year figure at 98.31%, down 10.0% from the prior year.
- Gross Margin rose to 98.79% in Q1 2026 per IONS's latest filing, from 96.09% in the prior quarter.
- Across five years, Gross Margin topped out at 99.2% in Q3 2024 and bottomed at 107.55% in Q2 2025.
- The 5-year median for Gross Margin is 98.48% (2023), against an average of 86.11%.
- Across the five-year window, Gross Margin soared 220 bps in 2023 and plunged 20570 bps in 2025, its largest moves.
- Year by year, Gross Margin stood at 97.57% in 2022, then rose by 2 bps to 99.06% in 2023, then decreased by 1 bps to 98.31% in 2024, then fell by 2 bps to 96.09% in 2025, then advanced by 3 bps to 98.79% in 2026.
- Per Business Quant, the three latest IONS Gross Margin figures stand at 98.79% (Q1 2026), 96.09% (Q4 2025), and 98.51% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Oculis Holding AG | 68,785.72 Bn | 68,785.72 Bn | - | - |
| 2 | Nanobiotix | 1,895.57 Bn | 1,895.51 Bn | - | - |
| 3 | BeOne Medicines | 471.35 Bn | 466.56 Bn | 1.35 Bn | 88.95% |
| 4 | NuCana | 279.75 Bn | 279.75 Bn | - | - |
| 5 | Vertex Pharmaceuticals | 120.24 Bn | 113.00 Bn | 2.59 Bn | 86.85% |
| 6 | Regeneron Pharmaceuticals | 67.80 Bn | 59.04 Bn | 3.31 Bn | 91.79% |
| 7 | Belite Bio | 62.51 Bn | 62.51 Bn | - | - |
| 8 | Argenx Se | 57.38 Bn | 57.38 Bn | 1.41 Bn | 90.68% |
| 9 | Revolution Medicines | 37.78 Bn | 37.78 Bn | - | - |
| 10 | Ionis Pharmaceuticals | 9.21 Bn | 7.29 Bn | 243.11 Mn | 98.79% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 98.79% |
| Dec 31, 2025 | 96.09% |
| Sep 30, 2025 | 98.51% |
| Jun 30, 2025 | -107.55% |
| Mar 31, 2025 | 98.89% |
| Dec 31, 2024 | 98.31% |
| Sep 30, 2024 | 99.20% |
| Jun 30, 2024 | 98.15% |
| Mar 31, 2024 | 98.20% |
| Dec 31, 2023 | 99.06% |
| Sep 30, 2023 | 98.48% |
| Jun 30, 2023 | 98.65% |
| Mar 31, 2023 | 98.97% |
| Dec 31, 2022 | 97.57% |
| Sep 30, 2022 | 99.05% |
| Jun 30, 2022 | 96.45% |
| Mar 31, 2022 | 97.06% |
| Dec 31, 2021 | 99.49% |
| Sep 30, 2021 | 97.69% |
| Jun 30, 2021 | 97.65% |