NASDAQ$ALNY

Alnylam Pharmaceuticals Inc · Q4 2025 earnings

Q4 2025 earnings · · Before market open · Investor relations

Briefing

Alnylam reported Q4 2025 global net product revenues of $995M with GAAP diluted EPS of $0.82.

Q4 global net product revenues reached $995 million (+121% YoY), led by AMVUTTRA for ATTR. GAAP net income was $111.5 million ($0.82 diluted EPS); non-GAAP net income was $169.8 million ($1.25 per share). FY25 net product revenues were $2.99 billion with GAAP profitability. Management reiterated 2026 pipeline goals and financial guidance.

  • Q4 net product revenue $995M (+121% YoY).
  • GAAP net income $111.5M; non-GAAP EPS $1.25.
  • FY25 net product revenue ~$3.0B.
  • AMVUTTRA drove TTR franchise growth.

Headline financials

Total Revenue

$995M

Previous: $593M+67.7%
EPS (adj)

$1.25

Previous: $0.06+1983.3%
Total TTR Net Product Revenue

$858M

No prior period
Total Rare Net Product Revenue

$136M

No prior period
GAAP R&D Expenses

$372M

Previous: $300M+24.0%
Non-GAAP R&D Expenses

$341M

Previous: $260M+31.3%
GAAP SG&A Expenses

$325M

Previous: $295M+10.2%
Non-GAAP SG&A Expenses

$285M

Previous: $244M+16.7%
Total TTR Growth

151.0%

No prior period
Total Rare Growth

26.0%

No prior period
Total Net Product Revenue Growth

121.0%

No prior period
Total Revenue Growth

85.0%

No prior period
Net Income

$112M

Previous: -$83.8M+233.2%
Operating Income

$132M

Previous: -$105M+225.3%

Revenue & EPS history

Alnylam · Revenue · Quarterly

$995M

Q4 2025+67.7%vs Q4 2024
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

Alnylam · $313M total across 4 segments · Q3 2023

  • AMVUTTRA
    $149M+489.3%
  • ONPATTRO
    $81.6M-43.7%
  • GIVLAARI
    $54.1M+18.6%
  • OXLUMO
    $28.7M+74.9%

Forward guidance

The release discusses ALNY's outlook for upcoming periods, including capital allocation, operating priorities, and market risks.

Tailwinds

  • ALNY cites operational execution and demand trends supporting the outlook.
  • Balance sheet and capital actions aim to fund growth and shareholder returns.

Headwinds

  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-1.1%

Avg return

Earnings day

-0.1%

Avg return

5 days after

+3.5%

Avg return

30 days after

48%

31 / 65 earnings

Positive

+15.4%

Q2 2025

Best reaction

-16.9%

Q2 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+4.3%-0.0%+0.2%
Q4 2025-4.3%+3.2%-2.8%
Q3 2025-6.7%-12.1%-6.3%
Q2 2025+15.4%+23.3%+31.4%
Q1 2025-3.1%+2.5%+15.7%
Q4 2024-0.4%-6.0%-9.1%
Q3 2024-2.7%-5.8%-10.1%
Q2 2024+14.6%+10.6%+10.6%
Q1 2024+1.6%+2.9%-1.0%
Q4 2023-10.4%-8.8%-9.1%
Q3 2023+6.6%+8.4%+9.2%
Q2 2023-0.8%-1.2%+7.6%
Q1 2023+6.3%+4.2%-2.9%
Q4 2022-5.6%-4.8%-5.5%
Q3 2022+1.7%+6.0%+5.8%
Q2 2022+0.0%+0.0%+48.6%
Q1 2022-13.9%-7.8%-17.5%
Q4 2021-0.4%+1.3%+2.4%
Q3 2021-16.5%-12.3%-1.4%
Q2 2021+3.1%+9.7%+12.5%
Q1 2021-2.0%-8.3%-1.1%
Q4 2020-3.8%-6.3%-13.4%
Q3 2020-6.3%-10.4%-7.1%
Q2 2020-4.6%-9.2%-18.4%
Q1 2020+0.2%+0.8%-9.7%
Q4 2019+3.2%+6.5%-6.7%
Q3 2019+4.3%+5.5%+34.2%
Q2 2019+12.7%+13.1%+16.4%
Q1 2019-7.6%-17.1%-24.4%
Q4 2018-5.0%+2.5%+1.8%
Q3 2018-15.3%-21.3%-13.8%
Q2 2018-3.0%-0.6%+29.8%
Q1 2018+2.6%+6.8%+11.8%
Q4 2017-5.1%-2.3%+9.0%
Q3 2017+1.4%+7.3%-1.4%
Q2 2017-6.8%-2.2%-9.5%
Q1 2017-4.1%+1.5%+31.2%
Q4 2016+11.1%+12.7%+25.4%
Q3 2016-15.1%-2.0%+12.4%
Q2 2016+9.9%+7.1%-3.1%
Q1 2016-9.3%
Q4 2015+4.5%
Q3 2015+5.6%
Q2 2015-16.9%
Q1 2015+6.7%
Q4 2014+2.3%
Q3 2014+3.2%
Q2 2014+1.5%
Q1 2014+5.3%
Q4 2013-2.1%
Q3 2013-11.2%
Q2 2013+3.7%
Q1 2013+3.5%
Q4 2012-0.7%
Q3 2012+0.7%
Q2 2012-1.5%
Q1 2012-9.0%
Q4 2011-9.6%
Q3 2011+1.5%
Q2 2011-14.9%
Q1 2011+2.3%
Q4 2010+13.2%
Q3 2010+2.4%
Q2 2010-0.9%
Q1 2010-5.3%

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