Insmed Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	606.42	363.71	305.21	245.36	188.46
Revenue Growth (YoY)	66.73%	19.17%	24.39%	30.19%	14.63%
Cost of Revenue	122.94	85.74	65.57	55.13	44.15
Gross Profit	483.49	277.97	239.64	190.23	144.31
Selling, General & Admin	701.17	461.12	344.5	265.78	233.67
Research & Development	771.09	598.37	571.01	397.52	272.74
Amortization of Goodwill & Intangibles	6	5.05	5.05	5.05	5.05
Operating Expenses	1,478	1,065	920.56	668.36	511.47
Operating Income	-994.78	-786.57	-680.93	-478.12	-367.16
Interest Expense	-83.8	-85.15	-81.37	-27.97	-40.47
Interest & Investment Income	60.66	53.31	42.13	11.08	0.17
Other Non Operating Income (Expenses)	-1.84	0.03	1.86	-5.94	-3.33
EBT Excluding Unusual Items	-1,020	-818.38	-718.32	-500.95	-410.79
Merger & Restructuring Charges	-	-	-	-	-0.6
Other Unusual Items	-251.99	-91.68	-28.7	20.8	-25.02
Pretax Income	-1,272	-910.07	-747.01	-480.15	-436.41
Income Tax Expense	5.03	3.71	2.56	1.38	-1.76
Net Income	-1,277	-913.77	-749.57	-481.53	-434.65
Net Income to Common	-1,277	-913.77	-749.57	-481.53	-434.65
Shares Outstanding (Basic)	199	164	140	123	112
Shares Outstanding (Diluted)	199	164	140	123	112
Shares Change (YoY)	21.32%	16.81%	14.14%	9.74%	14.86%
EPS (Basic)	-6.42	-5.57	-5.34	-3.91	-3.88
EPS (Diluted)	-6.42	-5.57	-5.34	-3.91	-3.88
Free Cash Flow	-967.58	-705.81	-549.54	-410.32	-370.59
Free Cash Flow Per Share	-4.86	-4.30	-3.91	-3.33	-3.31
Gross Margin	79.73%	76.43%	78.52%	77.53%	76.57%
Operating Margin	-164.04%	-216.27%	-223.10%	-194.87%	-194.82%
Profit Margin	-210.54%	-251.24%	-245.59%	-196.26%	-230.63%
Free Cash Flow Margin	-159.55%	-194.06%	-180.05%	-167.23%	-196.64%
EBITDA	-980.46	-777.7	-667.64	-465.83	-351.9
EBITDA Margin	-161.68%	-213.82%	-218.75%	-189.86%	-186.72%
D&A For EBITDA	14.31	8.88	13.29	12.29	15.26
EBIT	-994.78	-786.57	-680.93	-478.12	-367.16
EBIT Margin	-164.04%	-216.27%	-223.10%	-194.87%	-194.82%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.