Insmed Incorporated (INSM) financials
Insmed revenue and earnings by year
Insmed's revenue was $606 million in the fiscal year to December 31, 2025, up 66.7% from the year before. Net income was -$1.28 billion, -210.5% of revenue. Since the fiscal year to December 31, 2018, revenue has grown 80.2% a year on average.
Fiscal years, each labelled by the calendar year it ended in.
Income statement, the last 8 fiscal years
| Fiscal year to | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.61 | 0.36 | 0.31 | 0.25 | 0.19 | 0.16 | 0.14 | 0.01 |
| Revenue growth | 66.7% | 19.2% | 24.4% | 30.2% | 14.6% | 20.5% | 1287.6% | — |
| Gross profit | 0.48 | 0.28 | 0.24 | 0.19 | 0.14 | 0.12 | 0.11 | 0.01 |
| Gross margin | 79.7% | 76.4% | 78.5% | 77.5% | 76.6% | 75.7% | 82.3% | 75.4% |
| Operating income | -1.25 | -0.88 | -0.71 | -0.46 | -0.38 | -0.27 | -0.24 | -0.31 |
| Operating margin | -205.6% | -241.5% | -232.5% | -186.4% | -199.0% | -161.3% | -172.4% | -3124.9% |
| Net income | -1.28 | -0.91 | -0.75 | -0.48 | -0.43 | -0.29 | -0.25 | -0.32 |
| Net margin | -210.5% | -251.2% | -245.6% | -196.3% | -230.6% | -178.9% | -186.4% | -3297.2% |
| Diluted EPS | -$6.42 | -$5.57 | -$5.34 | -$3.91 | -$3.88 | -$3.01 | -$3.01 | -$4.22 |
| Free cash flow | -0.97 | -0.71 | -0.55 | -0.41 | -0.37 | -0.23 | -0.29 | -0.27 |
Diluted EPS is stated in today's shares (adjusted for every split since). Quarterly statements and the income statement as a flow chart are in the app: open INSM in Markets.
How Insmed makes money
Revenue by segment in the quarter to September 30, 2026, as the company reports it.
| Segment | Revenue | Share |
|---|---|---|
| BRINSUPRI | $400M | 76.3% |
| ARIKAYCE | $124M | 23.7% |
See also: INSM returns
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Figures as of the close on Oct 30, 2026 unless a row says otherwise. Prices are split adjusted; returns include dividends reinvested. Data may be delayed. See the disclaimer and how TrendArc works.