0001628280-26-007497
SEC filingAlnylam Pharmaceuticals, Inc. (ALNY) reported strong FY 2025 results with total revenues of $3.71B, driving net income of $313.7M and positive operating income of $501.6M. This marks a significant profitability milestone for the RNAi therapeutics leader, fueled by robust product sales and collaboration revenues amid high R&D investment of $1.32B. Operating expenses totaled $3.21B, including COGS of $677.2M, SG&A of $1.21B, reflecting scaling commercial operations. Balance sheet strengthened with total assets at $4.97B, current assets $4.05B including $1.66B cash equivalents and $777.6M receivables. Stockholders' equity reached $789.2M despite $6.70B accumulated deficit. Cash flow from operations was $524.1M, supporting $436.3M investing inflows and net financing outflow of $305.2M from debt activities including $645.7M new convertible notes issuance offset by $1.15B prior notes repayment. Ending cash position $1.66B signals liquidity for pipeline advancement. Comprehensive income was $328.2M with EPS $2 basic and diluted. No prior year figures disclosed in filing.
Alnylam Pharmaceuticals, Inc. achieved profitability in FY 2025 ending December 31, 2025, with total revenues of $3.71B generating income from operations of $501.6M and net income of $313.7M. This compares to prior periods not detailed in the filing. Total operating costs and expenses were $3.21B, comprising cost of goods sold $677.2M, cost of collaborations and royalties $4.7M, research and development $1.32B, and selling, general and administrative $1.21B. Income before taxes was $323.2M after other expenses net of -$178.4M, including interest expense $252.6M offset by interest income $111.5M. Benefit from income taxes added $9.4M. Basic and diluted EPS both $2 on 131.0M basic and 134.7M diluted shares. Comprehensive income totaled $328.2M including $14.4M other comprehensive income. Shares outstanding 132,376 as of year-end.
Total revenues reported as $3.71B. No breakdown provided for net product revenues, collaboration revenues, or royalty revenue—all listed as N/A in XBRL data. No segment or geographic revenue mix disclosed in the filing. Growth drivers not specified in available content.
Operating margin calculated as income from operations $501.6M on revenues $3.71B equates to approximately 13.5%. No gross profit explicitly stated; revenues $3.71B less COGS $677.2M and collaboration costs $4.7M implies gross profit around $3.03B or 81.7% margin, but not directly reported. Profitability supported by scale in commercial operations despite heavy R&D spend. Cost structure shows R&D at 35.6% of revenues, SG&A 32.6%. No prior period margins for comparison.
Operating activities provided $524.1M cash, driven by net income $313.7M plus non-cash items like stock compensation $348.2M and non-cash interest $238.4M, with working capital changes including $360.0M accounts receivable inflow. Investing activities net provided $436.3M from marketable securities turnover ($1.80B sales/maturities vs $1.31B purchases) offset by $58.7M capex. Financing used $305.2M net, including $645.7M new 0% convertible notes due 2028 less $1.15B repayment of 1% notes due 2027 and $35.3M capped calls. Balance sheet: total assets $4.97B with current assets $4.05B (cash $1.66B, marketable debt $1.25B, receivables $777.6M). Liabilities $4.18B including convertible debt $1.01B and royalty liabilities $1.69B total. Equity $789.2M.
No management guidance, strategic priorities, or risk factors explicitly disclosed in the provided filing content.