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Insmed Inc (INSM) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · BIOTECHNOLOGY · DATA UPDATED 2026-09-19

Insmed Inc (INSM) operates in the BIOTECHNOLOGY industry and is headquartered in Bridgewater, United States with about 1,664 employees. Its market capitalization is roughly $26 billion. In the fiscal year ended 2025-12-31, INSM reported $606M in revenue and ($1.3B) in net income.

Insmed Incorporated develops and commercializes therapies for patients with serious and rare diseases in the United States, Europe, Japan, and internationally.

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INSM Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$1.1B	$606M	$364M	$305M	$245M	$188M	$164M	$136M	$10M	$0M	$0M	$0M	$12M	$12M	$0M	$4M	$7M	$10M	$12M	$8M	$1M
Gross Profit	$947M	$482M	$278M	$240M	$190M	$144M	$125M	$112M	$7M	($3M)	($2M)	($2M)	($22M)	($18M)	($21M)	$4M	$7M	$10M	$12M	$7M	$0M
Gross Margin %	83.2%	79.4%	76.4%	78.5%	77.5%	76.6%	75.8%	82.3%	75.4%	—	—	—	-191.6%	-157.8%	—	100.0%	100.0%	100.0%	100.0%	92.3%	-50.3%
Operating Income (EBIT)	($917M)	($1.2B)	($878M)	($710M)	($457M)	($375M)	($265M)	($235M)	($307M)	($189M)	($173M)	($117M)	($87M)	($55M)	($42M)	($62M)	($8M)	($9M)	($14M)	($20M)	($54M)
Operating Margin %	-80.6%	-194.0%	-241.5%	-232.5%	-186.4%	-199.0%	-161.3%	-172.4%	-3124.9%	—	—	—	-759.7%	-478.4%	—	-1397.3%	-116.9%	-83.6%	-123.2%	-271.5%	-5486.7%
Net Income	($875M)	($1.3B)	($914M)	($750M)	($482M)	($435M)	($294M)	($254M)	($324M)	($193M)	($176M)	($118M)	($79M)	($56M)	($41M)	($60M)	($6M)	$118M	($16M)	($20M)	($56M)
Net Margin %	-76.9%	-210.5%	-251.2%	-245.6%	-196.3%	-230.6%	-178.9%	-186.4%	-3297.2%	—	—	—	-688.3%	-487.6%	—	-1350.8%	-93.0%	1140.9%	-133.9%	-265.1%	-5664.9%
EBITDA	—	($1.2B)	($819M)	($660M)	($447M)	($384M)	($250M)	($217M)	($295M)	($184M)	($170M)	($115M)	($86M)	($54M)	($40M)	($59M)	($6M)	$120M	($13M)	($20M)	($51M)
Earnings Per Share (EPS)	$-4.11	$-5.98	$-5.57	$-5.34	$-3.91	$-3.88	$-3.01	$-3.01	$-4.22	$-2.89	$-2.85	$-2.02	$-1.84	$-1.60	$-1.56	$-2.56	$-0.49	$9.30	$-1.28	$-1.74	$-5.89
Shares Outstanding (M)	—	214M	164M	140M	123M	112M	98M	85M	77M	67M	62M	59M	43M	35M	27M	23M	13M	13M	12M	11M	10M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSM Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$426M	$306M	$264M	$142M	$107M	$93M	$104M	$93M	$90M
Gross Profit	$358M	$256M	$220M	$113M	$79M	$72M	$78M	$72M	$69M
Gross Margin %	84.0%	83.8%	83.2%	79.4%	73.9%	77.1%	75.0%	77.3%	76.8%
Operating Income (EBIT)	($101M)	($200M)	($250M)	($366M)	($313M)	($248M)	($230M)	($213M)	($289M)
Operating Margin %	-23.7%	-65.5%	-94.6%	-257.1%	-291.3%	-267.3%	-220.6%	-228.4%	-319.8%
Net Income	($13M)	($164M)	($328M)	($370M)	($322M)	($257M)	($236M)	($221M)	($301M)
Net Margin %	-3.0%	-53.5%	-124.5%	-259.9%	-299.5%	-276.4%	-225.5%	-236.0%	-332.8%
EBITDA	—	($136M)	($302M)	($346M)	($297M)	($233M)	($212M)	($196M)	($277M)
Earnings Per Share (EPS)	$-0.06	$-0.76	$-1.54	$-1.75	$-1.70	$-1.42	$-1.32	$-1.27	$-1.94
Shares Outstanding (M)	—	215M	214M	211M	189M	181M	179M	174M	155M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSM Free Cash Flow History

Cash flow	TTM → 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	($780M)	($935M)	($684M)	($536M)	($400M)	($363M)	($219M)	($251M)	($258M)	($160M)	($147M)	($101M)	($64M)	($47M)	($31M)	($30M)	($8M)	($11M)	($12M)	($25M)	($42M)
Capital Expenditures (CapEx)	$58M	$33M	$22M	$13M	$10M	$7M	$7M	$42M	$15M	$3M	$4M	$3M	$5M	$1M	$0M	$1M	$7M	$0M	$0M	$0M	$5M
Free Cash Flow (FCF)	($837M)	($968M)	($706M)	($550M)	($410M)	($371M)	($226M)	($293M)	($273M)	($163M)	($151M)	($104M)	($70M)	($47M)	($31M)	($31M)	($14M)	($11M)	($12M)	($25M)	($47M)
FCF Margin %	-73.6%	-159.5%	-194.1%	-180.1%	-167.2%	-196.6%	-137.6%	-214.6%	-2773.7%	—	—	—	-606.7%	-413.0%	—	-706.0%	-208.9%	-106.2%	-102.5%	-335.4%	-4765.3%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSM Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-06-30	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	($89M)	($223M)	($248M)	($220M)	($206M)	($262M)	($196M)	($181M)	($123M)
Capital Expenditures (CapEx)	$6M	$3M	$47M	$2M	$3M	$10M	$7M	$4M	$7M
Free Cash Flow (FCF)	($95M)	($226M)	($294M)	($222M)	($209M)	($272M)	($203M)	($185M)	($130M)
FCF Margin %	-22.3%	-73.9%	-111.5%	-156.1%	-194.6%	-293.2%	-194.1%	-197.6%	-143.6%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSM Balance Sheet History

Balance sheet	2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$2.1B	$2.3B	$2.0B	$1.3B	$1.7B	$1.2B	$796M	$742M	$605M	$462M	$238M	$357M	$231M	$176M	$154M	$140M	$196M	$127M	$5M	$20M	$28M
Cash & Cash Equivalents	$545M	$510M	$555M	$482M	$1.1B	$717M	$533M	$487M	$495M	$381M	$163M	$283M	$159M	$114M	$91M	$15M	$11M	$13M	$2M	$16M	$24M
Total Liabilities	$1.3B	$1.5B	$1.7B	$1.7B	$1.6B	$833M	$520M	$481M	$396M	$101M	$83M	$45M	$45M	$33M	$33M	$6M	$3M	$3M	$8M	$8M	$14M
Total Debt (Short + Long-Term)	$580M	$560M	$1.1B	$1.2B	$1.1B	$577M	$369M	$348M	$317M	$111M	$110M	$25M	$50M	$20M	$19M	$0M	$0M	$0M	$2M	$3M	$3M
Total Shareholders' Equity	$758M	$739M	$285M	($332M)	$88M	$410M	$276M	$262M	$208M	$361M	$154M	$312M	$186M	$143M	$121M	$134M	$193M	$124M	($3M)	$11M	$14M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive INSM viewer.

INSM Metric Deep Dives

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