IRONWOOD PHARMACEUTICALS INC IRWD
We are a biotechnology company developing and commercializing life-changing therapies for people living with gastrointestinal, or GI, and rare diseases. We are focused on the development and commercialization of innovative product opportunities in areas of significant unmet need, leveraging our demonstrated expertise and capabilities in GI and rare diseases.
LINZESS® (linaclotide), our commercial product, is the first product approved by the United States Food and Drug Administration, or U.S. FDA, in a class of GI medicines called guanylate cyclase type C agonists, or GC-C agonists, and is indicated for the treatment, in the U.S., of irritable bowel syndrome with constipation, or IBS-C, in adults and pediatric patients 7 years of age and older, chronic idiopathic constipation, or CIC, in adults, and functional constipation, or FC, in pediatric patients ages 6-17 years-old. LINZESS is also available for the treatment of adults with IBS-C or CIC in Mexico, adults with IBS-C or chronic constipation in Japan, and adults with IBS-C in China. Linaclotide is available under the trademarked name CONSTELLA® for the treatment of adults with IBS-C or CIC and pediatric patients ages 6-17 years old with FC in Canada, and to adults with IBS-C in certain European countries.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $296.2M | $351.4M | $442.7M | $410.6M | $413.8M | $389.5M | $428.4M | $346.6M | $298.3M | $274.0M |
| Cost of revenue | — | — | — | — | — | $3.1M | $23.9M | $32.8M | $19.1M | $1.9M |
| Gross profit | — | — | — | — | — | $386.4M | $404.5M | $313.9M | $279.2M | $272.1M |
| R&D | $95.1M | $111.4M | $1.10B | $44.3M | $70.4M | $88.1M | $115.0M | $101.1M | $88.1M | $139.5M |
| SG&A | $82.3M | $144.3M | $158.3M | $116.0M | $111.1M | $140.0M | $172.4M | $219.7M | $231.2M | $173.3M |
| Total operating expenses | $197.6M | $258.3M | $1.39B | $160.3M | $181.5M | $246.6M | $308.3M | $497.3M | $313.6M | $325.8M |
| Operating income | $98.5M | $93.1M | -$945.4M | $250.3M | $232.3M | $142.9M | $120.1M | -$150.7M | -$15.4M | -$51.9M |
| Interest expense | $32.7M | $33.0M | $21.6M | $7.6M | $31.1M | $29.5M | $36.6M | $37.7M | $36.4M | $39.2M |
| Pre-tax income | $70.0M | $65.2M | -$948.1M | $252.4M | $200.7M | $108.9M | $58.9M | -$194.1M | -$116.9M | -$81.7M |
| Income tax | $46.0M | $64.3M | $83.5M | $77.4M | $327.8M | $2.7M | $0 | $0 | $0 | $0 |
| Net income | $24.0M | $880.0K | -$1.03B | $175.1M | $528.4M | $106.2M | $21.5M | -$282.4M | -$116.9M | -$81.7M |
| EPS, basic | 0.15 | 0.01 | -6.45 | 1.13 | 3.26 | 0.67 | 0.14 | -1.85 | — | — |
| EPS, diluted | 0.15 | 0.01 | -6.45 | 0.96 | 3.21 | 0.66 | 0.14 | -1.85 | -0.78 | -0.56 |
| Shares, diluted (wtd. avg.) | 163.0M | 160.1M | 155.4M | 186.3M | 164.4M | 160.7M | 156.0M | 152.6M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $215.5M | $88.6M | $92.2M | $656.2M | $621.9M | $364.8M | $179.2M | $180.8M | $132.8M | $62.2M |
| Short-term investments | — | — | — | — | — | — | — | — | $95.7M | — |
| Receivables | $46.7M | $81.9M | $129.1M | $115.5M | $114.0M | $122.4M | $11.3M | $21.0M | $3.2M | $933.0K |
| Inventory | — | — | — | — | — | — | $648.0K | — | $735.0K | $1.1M |
| Total current assets | $274.2M | $182.4M | $233.3M | $780.6M | $745.2M | $495.8M | $306.9M | $266.4M | $311.6M | $380.2M |
| Property, plant and equipment | $3.4M | $4.5M | $5.6M | $6.3M | $7.6M | $8.9M | $12.4M | $7.7M | $17.3M | $20.5M |
| Goodwill | — | — | — | — | — | — | $785.0K | $785.0K | $785.0K | $785.0K |
| Other intangibles | $2.0M | $2.9M | $3.7M | — | — | — | — | — | $159.9M | $166.1M |
| Total assets | $396.9M | $350.9M | $471.1M | $1.10B | $1.13B | $559.2M | $402.7M | $332.1M | $605.7M | $709.8M |
| Accounts payable | $2.9M | $2.1M | $7.8M | $483.0K | $935.0K | $661.0K | $4.0M | $14.9M | $16.0M | $17.7M |
| Total current liabilities | $242.2M | $38.8M | $276.1M | $25.5M | $161.7M | $32.2M | $40.9M | $119.5M | $66.0M | $91.1M |
| Long-term debt | — | — | — | $396.3M | $454.2M | $430.3M | — | — | — | — |
| Retained earnings | -$1.67B | -$1.70B | -$1.70B | -$696.4M | -$937.6M | -$1.47B | -$1.57B | -$1.59B | -$1.31B | -$1.19B |
| Total equity | -$261.8M | -$301.3M | -$346.3M | $652.4M | $605.9M | $62.6M | -$93.3M | -$196.4M | $9.8M | $66.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $127.0M | $103.5M | $183.4M | $273.8M | $261.9M | $168.8M | $10.7M | -$70.9M | -$100.8M | -$25.9M |
| Depreciation and amortisation | $1.1M | $1.2M | $1.2M | $1.4M | $1.5M | $2.3M | $5.6M | $3.9M | $6.4M | $10.3M |
| Stock-based compensation | $17.2M | $29.9M | $32.0M | $27.0M | $22.3M | $31.2M | $31.3M | $40.5M | $30.9M | $29.2M |
| Capital expenditure | $34.0K | $142.0K | $273.0K | $136.0K | $265.0K | $1.8M | $7.2M | $351.0K | $2.8M | $4.2M |
| Investing cash flow | -$34.0K | -$142.0K | -$1.03B | -$136.0K | -$265.0K | -$1.8M | -$11.1M | $88.9M | $151.5M | -$177.7M |
| Financing cash flow | $216.0K | -$107.0M | $277.2M | -$237.6M | -$4.5M | $18.5M | -$1.2M | $30.1M | $19.8M | -$4.2M |
| Buybacks | — | — | — | $126.4M | $24.1M | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-050325.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $274.0M | $298.3M | $346.6M | $428.4M | $389.5M | $413.8M | $410.6M | $442.7M | $351.4M | $296.2M |
| Gross profit | $272.1M | $279.2M | $313.9M | $404.5M | $386.4M | — | — | — | — | — |
| Net income | -$81.7M | -$116.9M | -$282.4M | $21.5M | $106.2M | $528.4M | $175.1M | -$1.03B | $880.0K | $24.0M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Results announced Item 2.02
- Other event Item 8.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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