Ionis Pharmaceuticals (IONS) Gross Margin (2018 - 2026)
Ionis Pharmaceuticals (IONS) recorded quarterly Gross Margin of 98.79% in Q1 2026, up 2.81% quarter-over-quarter from 96.09% in Q4 2025, and down 10.0% on a YoY basis from 109.76% in Q1 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.
- In Q1 2026, Gross Margin fell 10.0% year-over-year to 98.79%; the TTM figure through Mar 2026 stood at 97.13% (down 140.0% YoY), while the FY2025 annual figure was 98.31%, down 10.0% from the prior year.
- Gross Margin was 98.79% for Q1 2026 at Ionis Pharmaceuticals, up from 96.09% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 99.2% in Q3 2024 to a low of 107.55% in Q2 2025.
- Historically, Gross Margin has averaged 86.11% across 5 years, with a median of 98.48% in 2023.
- The sharpest annual moves came in 2023 and 2025: Gross Margin jumped 220 bps in 2023, then plunged 20570 bps in 2025.
- A 5-year view of Gross Margin shows it 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.
- The last three Gross Margin figures came in at 98.79% (Q1 2026), 96.09% (Q4 2025), and 98.51% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alterity Therapeutics | 925,601.88 Bn | 925,601.85 Bn | - | - |
| 2 | Belite Bio | 58,560.00 Bn | 58,560.00 Bn | - | - |
| 3 | Quantum Biopharma | 17,284.41 Bn | 17,284.40 Bn | - | - |
| 4 | Legend Biotech | 2,809.00 Bn | 2,808.71 Bn | 242.10 Mn | 79.04% |
| 5 | Evaxion A | 1,334.43 Bn | 1,334.42 Bn | - | - |
| 6 | Akari Therapeutics | 1,312.27 Bn | 1,312.26 Bn | - | - |
| 7 | Psyence Biomedical | 212.16 Bn | 212.16 Bn | - | - |
| 8 | Vertex Pharmaceuticals | 114.83 Bn | 107.58 Bn | 2.59 Bn | 86.85% |
| 9 | Abivax | 91.96 Bn | 91.96 Bn | - | - |
| 10 | Ionis Pharmaceuticals | 12.23 Bn | 10.31 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% |