Segment Information

3 Months Ended

Mar. 31, 2025

Segment Information [Abstract]

Segment Information

14. 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 4, 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):

	Three Months Ended March 31,
	2025			2024
Revenue	$	131,612		$	119,497
Less:
Cost of sales		1,363			1,952
Drug discovery		26,989			28,171
Drug development		112,946			125,751
Medical affairs		5,642			4,676
Manufacturing and development chemistry		14,281			11,441
R&D support		20,553			21,946
Selling, general and administrative		66,980			43,733
Other segment items (1)		29,796			24,630
Consolidated net loss	$	(146,938	)	$	(142,803	)

(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.