# INSMED Inc: financial statements, quarterly

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)

Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/insm/financials.md?period=annual).

## Income statement

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | 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 | [83.7 d](/filings/0001104506-26-000009.md) | [75.5](/filings/0001104506-25-000026.md) | [90.3](/filings/0001104506-25-000043.md) | [93.4](/filings/0001104506-25-000053.md) | [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) |
| Cost of revenue | $m | [18.4 d](/filings/0001104506-26-000009.md) | [17.5](/filings/0001104506-25-000026.md) | [21.0](/filings/0001104506-25-000043.md) | [21.2](/filings/0001104506-25-000053.md) | [26.2 d](/filings/0001104506-26-000009.md) | [21.3](/filings/0001104506-26-000032.md) | [28.1](/filings/0001104506-26-000041.md) | [29.4](/filings/0001104506-26-000047.md) | [44.2 d](/filings/0001104506-26-000009.md) | [47.4](/filings/0001104506-26-000032.md) | [67.2](/filings/0001104506-26-000041.md) | [78.2](/filings/0001104506-26-000047.md) |
| Gross profit | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Research and development | $m | [137 d](/filings/0001104506-26-000009.md) | [121](/filings/0001104506-25-000026.md) | [147](/filings/0001104506-25-000043.md) | [151](/filings/0001104506-25-000053.md) | [180 d](/filings/0001104506-26-000009.md) | [153](/filings/0001104506-26-000032.md) | [177](/filings/0001104506-26-000041.md) | [186](/filings/0001104506-26-000047.md) | [255 d](/filings/0001104506-26-000009.md) | [209](/filings/0001104506-26-000032.md) | [210](/filings/0001104506-26-000041.md) | [270](/filings/0001104506-26-000047.md) |
| Selling, general and administrative | $m | not reported | [93.1](/filings/0001104506-25-000026.md) | [107](/filings/0001104506-25-000043.md) | [119](/filings/0001104506-25-000053.md) | [143 d](/filings/0001104506-26-000009.md) | [148](/filings/0001104506-26-000032.md) | [155](/filings/0001104506-26-000041.md) | [186](/filings/0001104506-26-000047.md) | [212 d](/filings/0001104506-26-000009.md) | [247](/filings/0001104506-26-000032.md) | [247](/filings/0001104506-26-000041.md) | [253](/filings/0001104506-26-000047.md) |
| Operating income | $m | [(178) d](/filings/0001104506-26-000009.md) | [(146)](/filings/0001104506-25-000026.md) | [(289)](/filings/0001104506-25-000043.md) | [(213)](/filings/0001104506-25-000053.md) | [(230) d](/filings/0001104506-26-000009.md) | [(248)](/filings/0001104506-26-000032.md) | [(313)](/filings/0001104506-26-000041.md) | [(366)](/filings/0001104506-26-000047.md) | [(320) d](/filings/0001104506-26-000009.md) | [(153)](/filings/0001104506-26-000032.md) | [(1.5)](/filings/0001104506-26-000041.md) | [(89.4)](/filings/0001104506-26-000047.md) |
| Interest expense | $m | [20.8 d](/filings/0001104506-26-000009.md) | [21.0](/filings/0001104506-25-000026.md) | [21.3](/filings/0001104506-25-000043.md) | [21.1](/filings/0001104506-24-000033.md) | [21.6 d](/filings/0001104506-26-000009.md) | [21.6](/filings/0001104506-25-000026.md) | [21.2](/filings/0001104506-25-000043.md) | [20.4](/filings/0001104506-26-000047.md) | [20.6 d](/filings/0001104506-26-000009.md) | [20.1](/filings/0001104506-26-000032.md) | [20.3](/filings/0001104506-26-000041.md) | [20.4](/filings/0001104506-26-000047.md) |
| Income tax | $m | [1.0 d](/filings/0001104506-26-000009.md) | [0.6](/filings/0001104506-25-000026.md) | [0.8](/filings/0001104506-25-000043.md) | [1.0](/filings/0001104506-25-000053.md) | [1.3 d](/filings/0001104506-26-000009.md) | [0.9](/filings/0001104506-26-000032.md) | [1.2](/filings/0001104506-26-000041.md) | [1.3](/filings/0001104506-26-000047.md) | [1.6 d](/filings/0001104506-26-000009.md) | [1.5](/filings/0001104506-26-000032.md) | [1.9](/filings/0001104506-26-000041.md) | [2.7](/filings/0001104506-26-000047.md) |
| Net income | $m | [(186) d](/filings/0001104506-26-000009.md) | [(157)](/filings/0001104506-25-000026.md) | [(301)](/filings/0001104506-25-000043.md) | [(221)](/filings/0001104506-25-000053.md) | [(236) d](/filings/0001104506-26-000009.md) | [(257)](/filings/0001104506-26-000032.md) | [(322)](/filings/0001104506-26-000041.md) | [(370)](/filings/0001104506-26-000047.md) | [(328) d](/filings/0001104506-26-000009.md) | [(164)](/filings/0001104506-26-000032.md) | [(13.2)](/filings/0001104506-26-000041.md) | [(100)](/filings/0001104506-26-000047.md) |
| Diluted EPS | $ per share | not reported | [(1.06)](/filings/0001104506-25-000026.md) | [(1.94)](/filings/0001104506-25-000043.md) | [(1.27)](/filings/0001104506-25-000053.md) | 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) |
| Basic EPS | $ per share | not reported | [(1.06)](/filings/0001104506-25-000026.md) | [(1.94)](/filings/0001104506-25-000043.md) | [(1.27)](/filings/0001104506-25-000053.md) | 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) |

- Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax
- Cost of revenue: us-gaap:CostOfGoodsAndServicesSold
- Gross profit: not reported
- Research and development: us-gaap:ResearchAndDevelopmentExpense
- Selling, general and administrative: us-gaap:SellingGeneralAndAdministrativeExpense
- Operating income: us-gaap:OperatingIncomeLoss
- Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating
- Income tax: us-gaap:IncomeTaxExpenseBenefit
- Net income: us-gaap:NetIncomeLoss
- Diluted EPS: us-gaap:EarningsPerShareDiluted
- Basic EPS: us-gaap:EarningsPerShareBasic

## Balance sheet

| Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash and equivalents | $m | [482](/filings/0001104506-25-000009.md) | [596](/filings/0001104506-24-000016.md) | [1,247](/filings/0001104506-24-000026.md) | [461](/filings/0001104506-24-000033.md) | [555](/filings/0001104506-26-000009.md) | [403](/filings/0001104506-25-000026.md) | [1,284](/filings/0001104506-25-000043.md) | [335](/filings/0001104506-25-000053.md) | [510](/filings/0001104506-26-000047.md) | [582](/filings/0001104506-26-000032.md) | [545](/filings/0001104506-26-000041.md) | [397](/filings/0001104506-26-000047.md) |
| Current assets | $m | [929](/filings/0001104506-25-000009.md) | [759](/filings/0001104506-24-000016.md) | [1,418](/filings/0001104506-24-000026.md) | [1,650](/filings/0001104506-24-000033.md) | [1,622](/filings/0001104506-26-000009.md) | [1,403](/filings/0001104506-25-000026.md) | [2,082](/filings/0001104506-25-000043.md) | [1,932](/filings/0001104506-25-000053.md) | [1,794](/filings/0001104506-26-000047.md) | [1,613](/filings/0001104506-26-000032.md) | [1,634](/filings/0001104506-26-000041.md) | [1,707](/filings/0001104506-26-000047.md) |
| Total assets | $m | [1,330](/filings/0001104506-25-000009.md) | [1,159](/filings/0001104506-24-000016.md) | [1,810](/filings/0001104506-24-000026.md) | [2,053](/filings/0001104506-24-000033.md) | [2,025](/filings/0001104506-26-000009.md) | [1,803](/filings/0001104506-25-000026.md) | [2,480](/filings/0001104506-25-000043.md) | [2,361](/filings/0001104506-25-000053.md) | [2,265](/filings/0001104506-26-000047.md) | [2,076](/filings/0001104506-26-000032.md) | [2,103](/filings/0001104506-26-000041.md) | [2,226](/filings/0001104506-26-000047.md) |
| Current liabilities | $m | [226](/filings/0001104506-25-000009.md) | [421](/filings/0001104506-24-000016.md) | [524](/filings/0001104506-24-000026.md) | [259](/filings/0001104506-24-000033.md) | [298](/filings/0001104506-26-000009.md) | [239](/filings/0001104506-25-000026.md) | [312](/filings/0001104506-25-000043.md) | [417](/filings/0001104506-25-000053.md) | [469](/filings/0001104506-26-000047.md) | [361](/filings/0001104506-26-000032.md) | [439](/filings/0001104506-26-000041.md) | [597](/filings/0001104506-26-000047.md) |
| Total liabilities | $m | [1,662](/filings/0001104506-25-000009.md) | [1,624](/filings/0001104506-24-000016.md) | [1,771](/filings/0001104506-24-000026.md) | [1,570](/filings/0001104506-24-000033.md) | [1,740](/filings/0001104506-26-000009.md) | [1,704](/filings/0001104506-25-000026.md) | [1,230](/filings/0001104506-25-000043.md) | [1,415](/filings/0001104506-25-000053.md) | [1,526](/filings/0001104506-26-000047.md) | [1,371](/filings/0001104506-26-000032.md) | [1,345](/filings/0001104506-26-000041.md) | [1,500](/filings/0001104506-26-000047.md) |
| Long-term debt | $m | [1,155](/filings/0001104506-25-000009.md) | [939](/filings/0001104506-24-000016.md) | [947](/filings/0001104506-24-000026.md) | [955](/filings/0001104506-24-000033.md) | [1,103](/filings/0001104506-26-000009.md) | [1,105](/filings/0001104506-25-000026.md) | [539](/filings/0001104506-25-000043.md) | [540](/filings/0001104506-25-000053.md) | [541](/filings/0001104506-26-000047.md) | [542](/filings/0001104506-26-000032.md) | [544](/filings/0001104506-26-000041.md) | [545](/filings/0001104506-26-000047.md) |
| Current portion of debt | $m | [0.0](/filings/0001104506-24-000026.md) | [224](/filings/0001104506-24-000016.md) | [224](/filings/0001104506-24-000026.md) | not reported | not reported | not reported | not reported | not reported | [0.0](/filings/0001104506-26-000047.md) | not reported | not reported | [10.2](/filings/0001104506-26-000047.md) |
| Shareholders' equity | $m | [(332)](/filings/0001104506-26-000009.md) | [(465)](/filings/0001104506-25-000043.md) | [38.8](/filings/0001104506-25-000053.md) | [483](/filings/0001104506-25-000053.md) | [285](/filings/0001104506-26-000047.md) | [99.2](/filings/0001104506-26-000041.md) | [1,250](/filings/0001104506-26-000047.md) | [946](/filings/0001104506-26-000047.md) | [739](/filings/0001104506-26-000047.md) | [705](/filings/0001104506-26-000041.md) | [757](/filings/0001104506-26-000047.md) | [726](/filings/0001104506-26-000047.md) |

- Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue
- Current assets: us-gaap:AssetsCurrent
- Total assets: us-gaap:Assets
- Current liabilities: us-gaap:LiabilitiesCurrent
- Total liabilities: us-gaap:Liabilities
- Long-term debt: us-gaap:LongTermDebtNoncurrent
- Current portion of debt: us-gaap:LongTermDebtCurrent
- Shareholders' equity: us-gaap:StockholdersEquity

## Cash flow

| Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | 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) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Operating cash flow | $m | [(131) d](/filings/0001104506-26-000009.md) | [(184)](/filings/0001104506-25-000026.md) | [(123) d](/filings/0001104506-25-000043.md) | [(181) d](/filings/0001104506-25-000053.md) | [(196) d](/filings/0001104506-26-000009.md) | [(262)](/filings/0001104506-26-000032.md) | [(206) d](/filings/0001104506-26-000041.md) | [(220) d](/filings/0001104506-26-000047.md) | [(248) d](/filings/0001104506-26-000009.md) | [(223)](/filings/0001104506-26-000032.md) | [(88.8) d](/filings/0001104506-26-000041.md) | [(36.5) d](/filings/0001104506-26-000047.md) |
| Capital expenditure | $m | [2.2 d](/filings/0001104506-26-000009.md) | [4.7](/filings/0001104506-25-000026.md) | [6.8 d](/filings/0001104506-25-000043.md) | [3.7 d](/filings/0001104506-25-000053.md) | [6.8 d](/filings/0001104506-26-000009.md) | [10.1](/filings/0001104506-26-000032.md) | [3.5 d](/filings/0001104506-26-000041.md) | [2.4 d](/filings/0001104506-26-000047.md) | [16.6 d](/filings/0001104506-26-000009.md) | [3.5](/filings/0001104506-26-000032.md) | [6.3 d](/filings/0001104506-26-000041.md) | [5.6 d](/filings/0001104506-26-000047.md) |

- Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities
- Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment

## Shares

| Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Diluted shares (weighted) | millions of shares | [136](/filings/0001104506-24-000016.md) | [138](/filings/0001104506-24-000026.md) | [143](/filings/0001104506-24-000033.md) | [148](/filings/0001104506-25-000026.md) | [155](/filings/0001104506-25-000043.md) | [174](/filings/0001104506-25-000053.md) | [181](/filings/0001104506-26-000032.md) | [189](/filings/0001104506-26-000041.md) | [212](/filings/0001104506-26-000047.md) | [215](/filings/0001104506-26-000032.md) | [217](/filings/0001104506-26-000041.md) | [219](/filings/0001104506-26-000047.md) |

- Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding

Shares outstanding: 219,380,309 at 2026-10-23, from the cover of the [10-Q filed 2026-10-29](/filings/0001104506-26-000047.md) (dei:EntityCommonStockSharesOutstanding).

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