# INSMED Inc: overview

INSM · Nasdaq · CIK 1104506 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/insm.md) · [Financials](/companies/insm/financials.md) · [Filings](/companies/insm/filings.md) · [Insiders](/companies/insm/insiders.md)

Latest reported revenue: [$524.4m](/filings/0001104506-26-000047.md) for Q3 FY2026, three months to 2026-09-30, from the 10-Q filed Oct 29, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001104506-26-000047).

## Last eight quarters

| Line item | Unit | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [104 d](/filings/0001104506-26-000009.md) | [92.8](/filings/0001104506-26-000032.md) | [107](/filings/0001104506-26-000041.md) | [142](/filings/0001104506-26-000047.md) | [264 d](/filings/0001104506-26-000009.md) | [306](/filings/0001104506-26-000032.md) | [425](/filings/0001104506-26-000041.md) | [524](/filings/0001104506-26-000047.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(220.6%) d](/filings/0001104506-26-000009.md) | [(267.3%)](/filings/0001104506-26-000032.md) | [(291.3%)](/filings/0001104506-26-000041.md) | [(257.1%)](/filings/0001104506-26-000047.md) | [(121.2%) d](/filings/0001104506-26-000009.md) | [(50.1%)](/filings/0001104506-26-000032.md) | [(0.4%)](/filings/0001104506-26-000041.md) | [(17.0%)](/filings/0001104506-26-000047.md) |
| Net margin | % | [(225.5%) d](/filings/0001104506-26-000009.md) | [(276.4%)](/filings/0001104506-26-000032.md) | [(299.5%)](/filings/0001104506-26-000041.md) | [(260.0%)](/filings/0001104506-26-000047.md) | [(124.5%) d](/filings/0001104506-26-000009.md) | [(53.5%)](/filings/0001104506-26-000032.md) | [(3.1%)](/filings/0001104506-26-000041.md) | [(19.1%)](/filings/0001104506-26-000047.md) |
| Diluted EPS | $ per share | not reported | [(1.42)](/filings/0001104506-26-000032.md) | [(1.70)](/filings/0001104506-26-000041.md) | [(1.75)](/filings/0001104506-26-000047.md) | not reported | [(0.76)](/filings/0001104506-26-000032.md) | [(0.06)](/filings/0001104506-26-000041.md) | [(0.46)](/filings/0001104506-26-000047.md) |
| Free cash flow | $m | [(203) d](/filings/0001104506-26-000009.md) | [(272)](/filings/0001104506-26-000032.md) | [(209) d](/filings/0001104506-26-000041.md) | [(222) d](/filings/0001104506-26-000047.md) | [(264) d](/filings/0001104506-26-000009.md) | [(226)](/filings/0001104506-26-000032.md) | [(95.1) d](/filings/0001104506-26-000041.md) | [(42.1) d](/filings/0001104506-26-000047.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 12-month figure less the 9-month figure; 6-month figure less the 3-month figure; 9-month figure less the 6-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [188](/filings/0001104506-24-000008.md) | [245](/filings/0001104506-25-000009.md) | [305](/filings/0001104506-26-000009.md) | [364](/filings/0001104506-26-000009.md) | [606](/filings/0001104506-26-000009.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | [(199.0%)](/filings/0001104506-24-000008.md) | [(186.4%)](/filings/0001104506-25-000009.md) | [(232.5%)](/filings/0001104506-26-000009.md) | [(241.5%)](/filings/0001104506-26-000009.md) | [(205.6%)](/filings/0001104506-26-000009.md) |
| Net margin | % | [(230.6%)](/filings/0001104506-24-000008.md) | [(196.3%)](/filings/0001104506-25-000009.md) | [(245.6%)](/filings/0001104506-26-000009.md) | [(251.2%)](/filings/0001104506-26-000009.md) | [(210.5%)](/filings/0001104506-26-000009.md) |
| Diluted EPS | $ per share | [(3.88)](/filings/0001104506-24-000008.md) | [(3.91)](/filings/0001104506-25-000009.md) | [(5.34)](/filings/0001104506-26-000009.md) | [(5.57)](/filings/0001104506-26-000009.md) | [(6.42)](/filings/0001104506-26-000009.md) |
| Free cash flow | $m | [(371)](/filings/0001104506-24-000008.md) | [(410)](/filings/0001104506-25-000009.md) | [(550)](/filings/0001104506-26-000009.md) | [(706)](/filings/0001104506-26-000009.md) | [(968)](/filings/0001104506-26-000009.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/insm/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [FMR LLC](/funds/315066.md) | 2026-06-30 | $1.72bn | 16,143,583 |  | Added +2,983,416 |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $1.69bn | 15,807,984 |  | Reduced −870,162 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $1.11bn | 10,407,962 |  | Added +36,160 |
| [JPMORGAN CHASE & CO](/funds/19617.md) | 2026-06-30 | $1.09bn | 10,428,170 |  | Reduced −13,722,329 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $1.04bn | 9,790,865 |  | Added +148,734 |
| [BAKER BROS. ADVISORS LP](/funds/1263508.md) | 2026-06-30 | $937.8m | 8,796,111 |  | Added +1,375,000 |
| [Capital International Investors](/funds/1562230.md) | 2026-06-30 | $878.3m | 8,238,124 |  | Added +2,642,930 |
| [Darwin Global Management, Ltd.](/funds/1839209.md) | 2026-06-30 | $673.6m | 6,431,163 |  | Reduced −10,374,021 |
| [AMERIPRISE FINANCIAL INC](/funds/820027.md) | 2026-06-30 | $658.9m | 6,179,571 |  | Added +3,121,853 |
| [Orbis Allan Gray Ltd](/funds/1663865.md) | 2026-06-30 | $647.9m | 6,076,487 |  | Added +4,203,663 |

## Recent filings

[All 1,491 filings](/companies/insm/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-29 | 07:01 ET | [8-K](/filings/0001140361-26-041097.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001140361-26-041097 |
| 2026-10-29 | 07:00 ET | [10-Q](/filings/0001104506-26-000047.md) | Quarterly report, period 2026-09-30 | 0001104506-26-000047 |
| 2026-10-20 | 07:00 ET | [8-K](/filings/0001140361-26-040177.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001140361-26-040177 |
| 2026-10-05 | 07:01 ET | [8-K](/filings/0001140361-26-038529.md) | 5.02 Departure or appointment of officers or directors; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001140361-26-038529 |
| 2026-08-06 | 07:00 ET | [8-K](/filings/0001140361-26-031502.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001140361-26-031502 |
| 2026-08-06 | 06:59 ET | [10-Q](/filings/0001104506-26-000041.md) | Quarterly report, period 2026-06-30 | 0001104506-26-000041 |
| 2026-07-16 | 07:00 ET | [8-K](/filings/0001140361-26-028602.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001140361-26-028602 |
| 2026-05-15 | 16:01 ET | [8-K](/filings/0001140361-26-021648.md) | 5.07 Shareholder vote results | 0001140361-26-021648 |
| 2026-05-07 | 07:01 ET | [8-K](/filings/0001140361-26-019430.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001140361-26-019430 |
| 2026-05-07 | 07:00 ET | [10-Q](/filings/0001104506-26-000032.md) | Quarterly report, period 2026-03-31 | 0001104506-26-000032 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001104506-26-000009.md), filed Feb 19, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, has been scored from the reported figures. [See the target](/leagues/2026q3/targets/aa621c38-742b-440b-9c2f-61d56ea8df84)

## About the filer

- CIK: 1104506
- Tickers: INSM
- Exchange: Nasdaq
- SIC code: 2834 Pharmaceutical Preparations
- State of incorporation: VA
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 29, 2026, 07:15 ET. No prices; not investment advice.