Insmed Cash Flow 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
Net Income	-1,277	-913.77	-749.57	-481.53	-434.65
Depreciation & Amortization	14.31	8.88	13.29	12.29	15.26
Other Amortization	11.07	11.73	7.32	3.99	31.04
Loss (Gain) From Sale of Investments	-38.35	-18.92	-9.7	1.53	-
Stock-Based Compensation	152.71	96.84	74.78	57.69	46.02
Other Operating Activities	282.32	134.55	166.85	-0.97	37.61
Change in Accounts Receivable	-88.31	-12.93	-11.96	-6.42	-8.12
Change in Inventory	-31.52	-17.04	-13.61	-1.71	-17.46
Change in Accounts Payable	100.07	44.59	15.16	50.01	-7.58
Change in Other Net Operating Assets	-60.55	-17.79	-28.8	-35.3	-25.43
Operating Cash Flow	-935.01	-683.88	-536.25	-400.44	-363.3
Capital Expenditures	-32.56	-21.92	-13.29	-9.88	-7.29
Cash Acquisitions	-	-	-	-	-6.7
Investment in Securities	-2.01	-561.25	-213.73	-24.71	-50.29
Other Investing Activities	-30	-	3.42	-	-
Investing Cash Flow	-64.58	-583.18	-223.6	-34.58	-64.29
Long-Term Debt Issued	-	150	-	500	575
Long-Term Debt Repaid	-4.93	-2.61	-1.22	-0.6	-238.66
Net Debt Issued (Repaid)	-4.93	147.39	-1.22	499.4	336.34
Issuance of Common Stock	959	1,197	170.87	311.66	291.92
Other Financing Activities	-	-3.74	-1.22	-17.78	-15.72
Financing Cash Flow	954.07	1,341	168.44	793.27	612.55
Foreign Exchange Rate Adjustments	0.93	-1.31	-0.25	-1	-0.93
Net Cash Flow	-44.59	72.66	-591.66	357.25	184.03
Free Cash Flow	-967.58	-705.81	-549.54	-410.32	-370.59
Free Cash Flow Margin	-159.55%	-194.06%	-180.05%	-167.23%	-196.64%
Free Cash Flow Per Share	-4.86	-4.30	-3.91	-3.33	-3.31
Cash Interest Paid	55.35	40.57	35.79	10.16	10.89
Cash Income Tax Paid	4.14	2.5	1.96	1.72	1.56
Levered Free Cash Flow	-534.05	-418.3	-384.98	-199.98	-181.08
Unlevered Free Cash Flow	-487.9	-371.97	-341.44	-186.49	-186.83
Change in Working Capital	-80.3	-3.18	-39.22	6.58	-58.58

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