Ionis Pharmaceuticals (IONS) Operating Expenses (2009 - 2026)

For the trailing twelve months through Jun 30, 2026, Operating Expenses at Ionis Pharmaceuticals was $1.47 billion, up 21.3% year-over-year; for FY2025, it came in at $1.33 billion, up 12.3% from FY2024.

• Annual Operating Expenses has increased for four consecutive years, with a five-year compound annual growth rate of 8.0% (FY2020 to FY2025).
• In prior years, Ionis Pharmaceuticals' Operating Expenses was $1.18 billion in FY2024 (+3.4%), $1.14 billion in FY2023 (+14.4%), $997.56 million in FY2022 (+18.7%) and $840.64 million in FY2021 (-6.7%).
• Quarterly Operating Expenses has run from a low of $199.42 million in Q1 2022 to a high of $417.79 million in Q4 2025 over five years.
• On a year-over-year basis, Operating Expenses has increased in each of the last seven quarters, with growth averaging 12.0% over the last eight quarters.
• The strongest year-over-year quarter for Operating Expenses in the past five years was Q4 2022, with growth of 64.0%; the weakest was Q4 2021, with a decline of 29.9%.
• According to Business Quant data, Operating Expenses for the three prior quarters was $363.52 million (Q1 2026), $417.79 million (Q4 2025) and $316.9 million (Q3 2025).