| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income (loss) | 205,991 | 186,419 | 251,084 | -123,756 |
| Depreciation and amortization | 13,553 | 13,506 | 13,803 | 28,349 |
| Non-cash interest expense on liabilities related to the sale of future royalties and development funding | 66,236 | 126,101 | 40,864 | 71,434 |
| Stock-based compensation expense | 70,154 | 71,632 | 108,211 | 168,392 |
| Realized and unrealized loss on marketable equity securities | 0 | 0 | 0 | -2,306 |
| Loss related to convertible debt | NaN | -3,327 | -39,146 | NaN |
| Change in fair value of development derivative liability | NaN | 138,813 | -64,663 | -74,150 |
| Deferred income taxes | 9,310 | -27,170 | 5,598 | 19,374 |
| Other | 2,994 | 1,706 | 6,400 | -37,864 |
| Accounts receivable, net | 110,421 | -184,247 | 399,863 | 144,347 |
| Inventory | 3,324 | 13,861 | -4,976 | -17,359 |
| Prepaid expenses and other assets | 6,323 | 70,990 | 20,742 | 25,992 |
| Accounts payable, accrued expenses and other liabilities | -176,033 | -174,854 | 223,509 | 26,411 |
| Deferred revenue | -1,633 | 2,305 | -12,540 | -40,400 |
| Net cash provided by (used in) operating activities | 70,504 | 163,555 | 325,109 | 35,416 |
| Purchases of property, plant and equipment | 21,833 | 23,292 | 12,142 | 23,263 |
| Purchases of marketable securities | 261,625 | 235,911 | 207,971 | 861,199 |
| Sales and maturities of marketable securities | 213,191 | 222,037 | 723,370 | 856,850 |
| Proceeds from maturity of restricted and other investments | 48,825 | 0 | 1,700 | 58,075 |
| Purchases of restricted and other investments | 4,100 | 0 | 1,700 | 58,075 |
| Other investing activities | NaN | 0 | 2,150 | NaN |
| Net cash (used in) provided by investing activities | -25,542 | -37,166 | 501,107 | -27,612 |
| Proceeds from issuance of 0.00 convertible senior notes due 2028, net | NaN | -680 | 646,372 | NaN |
| Purchases of capped calls related to 0.00 convertible senior notes due 2028 | NaN | 0 | 35,311 | NaN |
| Repayment of 1.00 convertible senior notes due 2027 | NaN | 52,254 | 1,102,659 | NaN |
| Payment of issuance costs for revolving credit agreement | NaN | 0 | 2,414 | NaN |
| Proceeds from exercise of stock options and other types of equity, net | 13,157 | 41,701 | 77,740 | 130,587 |
| Proceeds from liabilities related to the sale of future royalties and development funding | 6,000 | 6,000 | NaN | NaN |
| Repayment of liabilities related to the sale of future royalties and development funding | 3,434 | 14,272 | NaN | NaN |
| (repayment of) proceeds from development derivative liability, net | NaN | -64,822 | 32,076 | 32,746 |
| Other financing activities | -9 | NaN | NaN | NaN |
| Net cash provided by financing activities | 15,714 | 45,317 | -448,348 | 97,841 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | -7,064 | -5,701 | -927 | 41,564 |
| Net increase in cash, cash equivalents and restricted cash | 53,612 | 166,005 | 376,941 | 147,209 |
| Cash, cash equivalents and restricted cash, beginning of period | 1,658,807 | 1,492,802 | 968,652 | NaN |
| Cash, cash equivalents and restricted cash, end of period | 1,712,419 | 1,658,807 | 1,492,802 | NaN |
ALNYLAM PHARMACEUTICALS, INC. (ALNY)
ALNYLAM PHARMACEUTICALS, INC. (ALNY)