INSMED Inc (INSM) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, INSMED reported revenue of $606.4M, up 66.7% from $363.7M the year before. Net income was -$1.28B (a -210.5% net margin), or -$6.42 per diluted share. Gross margin was 79.7% and operating margin was -205.6%. Operating activities generated -$935.0M of cash, leaving -$967.6M of free cash flow. At fiscal year end, INSMED held $2.26B in total assets against $1.53B in total liabilities, including $510.4M of cash and equivalents.
Open the full interactive INSMED financials → Quarterly statements, key ratios, valuation history and price charts.
INSMED Key Stats
| Share Price | $96.79 |
|---|---|
| Market Cap | $21.04B |
| Revenue YoY Growth | +66.7% |
| 52-Week Range | $91.88 – $211.41 |
| Shares Outstanding | 217.4 million (basic, 2026 Q2) |
INSMED Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $164.4M | $188.5M | $245.4M | $305.2M | $363.7M | $606.4M |
| Cost of Goods Sold | $39.9M | $44.2M | $55.1M | $65.6M | $85.7M | $122.9M |
| Gross Profit | $124.5M | $144.3M | $190.2M | $239.6M | $278.0M | $483.5M |
| Operating Income | -$265.2M | -$375.1M | -$457.3M | -$709.6M | -$878.3M | -$1.25B |
| Pre-Tax Income | -$292.7M | -$436.4M | -$480.2M | -$747.0M | -$910.1M | -$1.27B |
| Income Tax | $1.4M | -$1.8M | $1.4M | $2.6M | $3.7M | $5.0M |
| Net Income | -$294.1M | -$434.7M | -$481.5M | -$749.6M | -$913.8M | -$1.28B |
| Diluted EPS | -$3.01 | -$3.88 | -$3.91 | -$5.34 | -$5.57 | -$6.42 |
INSMED Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $142.3M | $263.8M | $306.0M | $425.5M |
| Net Income | -$370.0M | -$328.5M | -$163.6M | -$13.2M |
| Diluted EPS | -$1.75 | -$1.65 | -$0.76 | -$0.06 |
INSMED Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $532.8M | $716.8M | $1.07B | $482.4M | $555.0M | $510.4M |
| Current Assets | $622.9M | $837.0M | $1.27B | $929.1M | $1.62B | $1.79B |
| Total Assets | $796.2M | $1.24B | $1.66B | $1.33B | $2.03B | $2.26B |
| Current Liabilities | $118.8M | $135.2M | $190.2M | $225.6M | $297.5M | $468.9M |
| Total Long-Term Debt | $450.0M | $800.0M | $1.15B | $1.18B | $1.12B | $546.8M |
| Total Liabilities | $520.3M | $833.0M | $1.57B | $1.66B | $1.74B | $1.53B |
| Shareholders' Equity | $275.9M | $410.5M | $88.0M | -$331.9M | $285.4M | $739.0M |
INSMED Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$219.3M | -$363.3M | -$400.4M | -$536.2M | -$683.9M | -$935.0M |
| Cash From Investing | -$6.8M | -$64.3M | -$34.6M | -$223.6M | -$583.2M | -$64.6M |
| Cash From Financing | $271.0M | $612.5M | $793.3M | $168.4M | $1.34B | $954.1M |
| Free Cash Flow | -$225.6M | -$370.6M | -$410.3M | -$549.5M | -$705.8M | -$967.6M |
Figures from INSMED's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full INSMED financials page for every line item.
INSMED Company Profile
| Ticker | INSM |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Bridgewater, New Jersey |
| Incorporated in | Virginia |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001104506 |
Frequently Asked Questions
What was INSMED's revenue in fiscal 2025?
INSMED (INSM) reported revenue of $606.4M for fiscal 2025.
What is INSMED's annual revenue history?
INSMED's annual revenue by fiscal year: 2020: $164.4M; 2021: $188.5M; 2022: $245.4M; 2023: $305.2M; 2024: $363.7M; 2025: $606.4M.
What was INSMED's net income in fiscal 2025?
INSMED reported net income of -$1.28B for fiscal 2025.
What was INSMED's earnings per share (EPS) in fiscal 2025?
INSMED's diluted EPS was -$6.42 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did INSMED generate in fiscal 2025?
INSMED generated -$967.6M of free cash flow in fiscal 2025.
What was INSMED's revenue last quarter?
In its most recent reported quarter (2026 Q2), INSMED reported revenue of $425.5M.
How much debt does INSMED have?
INSMED reported $546.8M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of INSMED are outstanding?
INSMED reported a weighted average of 217.4 million basic shares outstanding in 2026 Q2.
What is INSMED's market cap?
Based on its latest closing price, INSMED (INSM) has a market capitalization of about $21.04B.
When does INSMED's fiscal year end?
INSMED's fiscal year end, as registered with the SEC, is December 31.
Where is INSMED headquartered?
INSMED lists its business address in Bridgewater, New Jersey in its SEC filings.