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Where the tokens are
Standardised from the company’s filings, newest period first, labelled with the company’s own fiscal calendar. A line the company does not report is left off rather than shown as zero; margins and free cash flow are worked out here, and only where every input is present.
| Line item | Q2 FY262026-06-30 | Q1 FY262026-03-31 | Q4 FY252025-12-31 | Q3 FY252025-09-30 | Q2 FY252025-06-30 | Q1 FY252025-03-31 | Q4 FY242024-12-31 | Q3 FY242024-09-30 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $267.95M | $246.09M | $203.33M | $156.72M | $452.05M | $131.61M | $226.58M | $133.81M |
| Cost of revenue | $2.74M | $2.98M | $7.96M | $2.34M | $4.15M | $1.46M | $3.83M | $1.07M |
| Gross profit | $265.21M | $243.11M | $195.37M | $154.38M | $447.90M | $130.15M | $222.75M | $132.74M |
| Gross margin | 99.0% | 98.8% | 96.1% | 98.5% | 99.1% | 98.9% | 98.3% | 99.2% |
| Research and development | $217.11M | $210.17M | $279.65M | $217.75M | $217.46M | $200.76M | $245.49M | $219.76M |
| Selling, general and administrative | $150.40M | $150.36M | $130.19M | $96.81M | $90.62M | $76.25M | $88.08M | $61.64M |
| Operating expenses | $367.50M | $360.53M | $409.83M | $314.56M | $308.08M | $277.01M | $333.57M | $281.40M |
| Operating income | −$102.29M | −$117.42M | −$214.46M | −$160.18M | $139.82M | −$146.86M | −$110.82M | −$148.66M |
| Operating margin | -38.2% | -47.7% | -105.5% | -102.2% | 30.9% | -111.6% | -48.9% | -111.1% |
| EBITDA | −$98.16M | −$113.46M | −$213.00M | −$157.31M | $142.68M | −$144.05M | −$110.46M | −$145.68M |
| Interest income | $0 | $25.48M | $24.73M | $23.68M | $0 | $24.67M | $28.91M | $26.23M |
| Interest expense | −$22.12M | −$22.50M | −$22.69M | −$22.16M | −$22.76M | −$22.93M | −$22.86M | −$22.69M |
| Income before taxes | −$113.38M | −$92.31M | −$227.92M | −$128.39M | $123.53M | −$146.82M | −$107.04M | −$144.10M |
| Income taxes | $1.26M | $218.00K | $1.48M | $213.00K | −$20.00K | $116.00K | −$2.69M | −$3.62M |
| Net income | −$114.65M | −$92.53M | −$229.39M | −$128.61M | $123.55M | −$146.94M | −$104.35M | −$140.48M |
| Net margin | -42.8% | -37.6% | -112.8% | -82.1% | 27.3% | -111.6% | -46.1% | -105.0% |
| EPS, basic | −$0.69 | −$0.56 | −$1.41 | −$0.80 | $0.78 | −$0.93 | −$0.66 | −$0.95 |
| EPS, diluted | −$0.69 | −$0.56 | −$1.65 | −$0.80 | $0.70 | −$0.93 | −$0.66 | −$0.95 |
| Diluted shares | 165.42M | 164.87M | 139.21M | 159.77M | 182.33M | 158.74M | 157.97M | 148.59M |
Figures describe Ionis Pharmaceuticals shares, not any token. As of Jul 29, 2026, from Massive's standardised financials. The company reports these figures; a token's issuer holds the shares and reports nothing of its own here.