IRONWOOD PHARMACEUTICALS (IRWD) Company Report

Ironwood Pharmaceuticals reported FY 2025 total revenues of $296 million, GAAP net income of $24 million ($0.15/share), and Adjusted EBITDA of $138 million.
For Q4 2025, LINZESS U.S. net sales were $163 million, representing a 27% decrease year-over-year, primarily driven by net price erosion, partially offset by 13% demand growth.
The company provided FY 2026 guidance, expecting U.S. LINZESS net sales of $1.125 to $1.175 billion, total revenue of $450 - $475 million, and Adjusted EBITDA of over $300 million.
As of December 31, 2025, Ironwood had $215 million in cash & cash equivalents, with year-end debt principal outstanding of $585 million and net debt of $370 million. The company anticipates reducing year-end debt principal outstanding to approximately $300 million and net debt to approximately $200 million by the end of 2026.

3 days ago

Presentation

Ironwood Pharmaceuticals Reports Q4 and Full Year 2025 Results, Issues 2026 Guidance, and Advances Apraglutide

IRWD

Earnings

Guidance Update

New Projects/Investments

Ironwood Pharmaceuticals reported full year 2025 LINZESS U.S. net sales of $865 million and Adjusted EBITDA of $138 million, ending the year with $215 million in cash and cash equivalents.
The company provided 2026 guidance, expecting LINZESS U.S. net sales between $1.125 billion and $1.175 billion, total Ironwood revenue between $450 million and $475 million, and Adjusted EBITDA greater than $300 million.
In November 2025, LINZESS received FDA approval for the treatment of irritable bowel syndrome with constipation in patients 7 years of age and older. The company also lowered the LINZESS list price, effective January 1, 2026, anticipating more than a 30% increase in 2026 LINZESS U.S. net sales due to improved net price.
Ironwood is advancing apraglutide, having aligned with the FDA on the STARS-2 confirmatory Phase III clinical trial design in Q4 2025, with site activation expected in Q2 2026 and an NDA submission before the end of 2029.

3 days ago

Transcript

Ironwood Pharmaceuticals Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Updates on LINZESS and Apraglutide

IRWD

Earnings

Guidance Update

New Projects/Investments

Ironwood Pharmaceuticals reported full year 2025 LINZESS U.S. net sales of $865 million and Adjusted EBITDA of $138 million, ending the year with $215 million in cash and cash equivalents.
The company provided 2026 guidance, projecting LINZESS U.S. net sales between $1.125 billion and $1.175 billion (a greater than 30% increase year-over-year) and Adjusted EBITDA of greater than $300 million.
In November 2025, LINZESS received FDA approval for the treatment of IBS-C in patients 7 years of age and older. The company also lowered the LINZESS list price effective January 1, 2026, anticipating a significant increase in 2026 U.S. net sales due to changes in statutory rebates.
Ironwood aligned with the FDA in Q4 2025 on the design for STARS-2, a confirmatory Phase 3 clinical trial for apraglutide, with site activation planned for Q2 2026 and an NDA submission anticipated before the end of 2029.

3 days ago

Transcript

Ironwood Pharmaceuticals Reports Q4 and Full Year 2025 Results, Provides 2026 Guidance, and Updates on Key Programs

IRWD

Earnings

Guidance Update

New Projects/Investments

Ironwood Pharmaceuticals reported full year 2025 LINZESS U.S. net sales of $865 million and Adjusted EBITDA of $138 million, concluding the year with $215 million in cash and cash equivalents.
For 2026, the company issued guidance projecting LINZESS U.S. net sales between $1.125 billion and $1.175 billion (representing over a 30% increase year-over-year), total Ironwood revenue between $450 million and $475 million, and Adjusted EBITDA greater than $300 million.
Strategic advancements include the FDA approval of LINZESS for IBS-C in patients 7 years and older in November 2025, and the planned Q2 2026 initiation of the STARS-2 confirmatory Phase 3 trial for apraglutide, with an NDA submission anticipated before the end of 2029.
The company also plans to reduce its total debt balance in 2026, including the repayment of 2026 convertible notes, aiming for approximately $300 million of debt by year-end.

3 days ago

Transcript

Ironwood Pharmaceuticals Reports Q4 and Full Year 2025 Results, Issues Strong 2026 Outlook

IRWD

Earnings

Guidance Update

Revenue Acceleration/Inflection

Ironwood Pharmaceuticals achieved its 2025 financial guidance, reporting $296 million in revenue, $24 million in GAAP net income, and $138 million in adjusted EBITDA for the full year 2025.
The company provided a strong 2026 financial outlook, projecting total revenues of $450 to $475 million and adjusted EBITDA of greater than $300 million.
LINZESS demonstrated 11% EUTRx demand growth for the full year 2025 and received FDA approval for the treatment of IBS-C in patients aged 7 years and older.
Ironwood ended 2025 with $215.5 million in cash and cash equivalents and expects to begin site initiations for the confirmatory Phase 3 clinical trial of apraglutide in the second quarter of 2026.

3 days ago

8-K

Ironwood Pharmaceuticals Reports Q4 and Full Year 2025 Results

IRWD

Earnings

Guidance Update

New Projects/Investments

Ironwood Pharmaceuticals reported full-year 2025 revenue of $296 million, GAAP net income of $24 million, and adjusted EBITDA of $138 million, achieving its financial guidance for the year.
For the full year 2025, LINZESS EUTRx demand grew 11% year-over-year, with U.S. net sales reaching $864.5 million.
The company ended 2025 with $215 million in cash and cash equivalents and generated $127 million in cash flow from operations for the full year.
Ironwood expects full-year 2026 LINZESS U.S. net sales of $1.125 to $1.175 billion, total revenues of $450 to $475 million, and adjusted EBITDA of greater than $300 million.
Site initiations for the confirmatory Phase 3 clinical trial of apraglutide in short bowel syndrome with intestinal failure (SBS-IF) are expected to begin in the second quarter of 2026.

3 days ago

Press Release

Ironwood Pharmaceuticals Issues Strong 2026 Guidance and Reaffirms 2025 Outlook

IRWD

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Ironwood Pharmaceuticals provided 2026 guidance projecting LINZESS U.S. net sales of $1.125\u2013$1.175 billion, total revenue of $450\u2013$475 million, and adjusted EBITDA above $300 million, while reaffirming its 2025 guidance.
The company plans to initiate a confirmatory Phase 3 trial for apraglutide in the first half of 2026 and noted that an effective January 1, 2026, reduction in the LINZESS list price is expected to increase net sales.
Following the guidance release, IRWD shares rose approximately 28.78% in premarket trading on unusually high trading volume.
Third-party financial metrics, however, flagged potential balance-sheet risk, including an Altman Z-Score of \u22123.4, a market cap of around $548.2 million, and trailing-12-month revenue of about $338.99 million.

Jan 2, 2026, 12:18 PM

Morningstar

Ironwood Pharmaceuticals Maintains FY 2025 Guidance and Announces FY 2026 Guidance

IRWD

Guidance Update

Earnings

Ironwood Pharmaceuticals maintained its full-year 2025 financial guidance and announced full-year 2026 financial guidance.
For FY 2026, the company anticipates LINZESS® U.S. net sales between $1.125 and $1.175 billion, total revenues of $450 to $475 million, and adjusted EBITDA greater than $300 million.
The company ended Q4 2025 with over $200 million in cash and cash equivalents.
Effective January 1, 2026, the LINZESS list price was lowered, which is projected to result in higher net sales in 2026 due to the elimination of the inflationary component of statutory required rebates.

Jan 2, 2026, 12:05 PM

8-K

Ironwood Pharmaceuticals Announces FY 2026 Financial Guidance and Maintains FY 2025 Guidance

IRWD

Guidance Update

Revenue Acceleration/Inflection

New Projects/Investments

Ironwood Pharmaceuticals announced full-year 2026 financial guidance, projecting LINZESS U.S. net sales of $1.125 to $1.175 billion, total revenues of $450 to $475 million, and adjusted EBITDA of greater than $300 million.
The company is maintaining its full-year 2025 financial guidance, with expected LINZESS U.S. net sales of $860 - $890 million, total revenue of $290 - $310 million, and adjusted EBITDA of greater than $135 million.
Ironwood ended Q4 2025 with greater than $200 million in cash and cash equivalents and is on track to initiate a confirmatory Phase 3 trial for apraglutide in the first half of 2026.
Effective January 1, 2026, the LINZESS list price was lowered, which is expected to drive higher net sales in 2026 due to the elimination of the inflationary component of statutory required rebates.

Jan 2, 2026, 12:05 PM

Press Release

Ironwood Pharmaceuticals Reports Strong Q3 2025 Results and Raises Guidance

IRWD

Earnings

Guidance Update

Revenue Acceleration/Inflection

Ironwood Pharmaceuticals reported strong financial results for Q3 2025, with revenue reaching $122.06 million, a 33.3% year-over-year increase, and a Non-GAAP EPS of $0.24, exceeding expectations.
LINZESS U.S. net sales were $315 million in Q3 2025, representing a 40% year-over-year increase, and the FDA approved LINZESS for pediatric IBS-C.
The company raised its full-year 2025 financial guidance, projecting U.S. LINZESS net sales between $860 million and $890 million and total revenue between $290 million and $310 million.
Ironwood is advancing its apraglutide program for short bowel syndrome, with a Phase 3 trial planned for 2026, and is exploring strategic alternatives to maximize shareholder value.
Despite these positive results, Wall Street analysts remain cautious, rating the stock as a 'hold' due to concerns about growth sustainability and heavy reliance on a single product.