Segment Information

12 Months Ended

Dec. 31, 2024

Segment Information [Abstract]

Segment Information

12. Segment Information

We operate as a single operating segment, Ionis operations, focused on the research, development and commercialization of our RNA-targeted medicines to bring better futures to people with serious diseases. As the CODM, our Chief Executive Officer manages our company, reviews operating results, assesses performance and allocates resources on an aggregate basis using consolidated net income or loss as the key measure of segment profit or loss. As such, results of our operations are reported on a consolidated basis for purposes of management and segment reporting.

Ionis operations derives its revenues from commercial and R&D revenue sources. Refer to Note 3, Revenues, for further details on our sources of revenue.

The following table sets forth information on segment profit or loss, including significant segment expenses (in thousands):

	Year Ended December 31,
	2024			2023			2022
Revenue	$	705,138		$	787,647		$	587,367
Less:
Cost of sales		10,415			8,686			13,447
Drug discovery		114,350			125,649			181,302
Drug development		527,259			530,332			426,225
Medical affairs		27,229			19,454			15,948
Manufacturing and development chemistry		57,729			65,293			76,162
R&D support		82,559			81,019			59,840
Selling, general and administrative		230,478			205,135			124,370
Other segment items (1)		109,016			118,365			(40,205	)
Consolidated net loss	$	(453,897	)	$	(366,286	)	$	(269,722	)

(1) Other segment items include stock-based compensation expense, investment income, interest expense, gain or loss on investments, other income or expense and income tax expense or benefit.