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	234.27
Depreciation & Amortization Expenses	6	5.05	5.05	5.05	5.05
Research & Development	771.09	598.37	571.01	397.52	272.74
Other Operating Expenses	251.99	91.68	28.7	-20.8	7.33
Total Operating Expenses	1,730	1,156	949.26	647.55	519.4
Operating Income	-1,247	-878.25	-709.63	-457.32	-375.09
Interest Income	60.66	53.31	42.13	11.08	0.17
Interest Expense	-83.8	-84.91	-81.69	-26.45	-40.47
Other Non-Operating Income (Expense)	-1.84	-0.21	2.18	-7.47	-21.02
Total Non-Operating Income (Expense)	-24.98	-31.81	-37.39	-22.83	-61.32
Pretax Income	-1,272	-910.07	-747.01	-480.15	-436.41
Provision for Income Taxes	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
Shares Outstanding	214.26	179.38	147.98	135.65	118.74
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	-205.59%	-241.47%	-232.51%	-186.39%	-199.03%
Profit Margin	-210.54%	-251.24%	-245.59%	-196.26%	-230.63%
FCF Margin	-159.55%	-194.06%	-180.05%	-167.23%	-196.64%
EBITDA	-1,228	-864.53	-696.34	-445.03	-359.83
EBITDA Margin	-202.43%	-237.70%	-228.15%	-181.38%	-190.93%
EBIT	-1,247	-878.25	-709.63	-457.32	-375.09
EBIT Margin	-205.59%	-241.47%	-232.51%	-186.39%	-199.03%
Effective Tax Rate	-0.40%	-0.41%	-0.34%	-0.29%	0.40%

Updated Feb 19, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q