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NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

Insmed Inc. INSM

17 fiscal years on record · USD · FY2025 reported · SEC filings only
$606.4M
▲ 66.7% YoY
$-1.3B
$-967.6M
In brief

What this company does

Insmed Incorporated's commercial portfolio includes two products, ARIKAYCE® and BRINSUPRI®. As of December 31, 2025, it had a total of 1,664 full-time employees: 736 in research, clinical, regulatory, medical affairs and quality assurance; 107 in technical operations, manufacturing and quality control; 266 in general and administrative functions; and 555 in commercial activities. It owns or licenses rights to more than 1,400 issued patents and pending patent applications in the US and foreign countries, including more than 400 related to ARIKAYCE. Its commercial portfolio and clinical pipeline are organized around three therapeutic areas: Respiratory, Immunology & Inflammation, and Neuro & Other Rare. ARIKAYCE received accelerated approval in the US in September 2018 for the treatment of MAC lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options in a refractory setting. BRINSUPRI, an oral, once-daily treatment for non-cystic fibrosis bronchiectasis in patients 12 years of age and older, was approved in the US in August 2025. ARIKAYCE is manufactured by Resilience Biotechnologies Inc. in Canada at a 200 kilogram scale.

Written from the business description in INSMED Inc's annual report to the U.S. Securities and Exchange Commission, filed 19 February 2026. Every sentence was checked against that document before publication.

Growth
USD 606.4M
Revenue, FY2025 · full 17-year series below
Revenue $B Net income $B
FY2025 · Revenue 0.6 · Net income -1.3
0.25B0.50B-0.50B-1.00B200920112013201520172019202120232025
Compound annual growth
+35.2%
+29.8%
+34.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +29.8% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−211 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -205.6% · Net -210.5%
500%1000%-1000%-2000%-3000%200920112013201520172019202120232025
ROE
FY2025 · ROE -249.3%
50%-100%-200%200920112013201520172019202120232025
Gross margin79.7%
Operating margin-205.6%
Net margin-210.5%
Return on assets-59.5%
EBITDAUSD -1.2B

Each USD of equity lost 249 cents this year.

Cash & shareholders
—
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -967.6
-400M-800M200920112013201520172019202120232025
Dividends paid—
Net buybacks—
Share of profit—
Consecutive raises—

Total assetsUSD 2.3B
EquityUSD 739.0M
CashUSD 510.4M
Gross debtUSD 541.0M
Net debtUSD 30.5M
Current ratio3.83×

Net debt stands at 4% of equity.

The 17-year record
17 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018201720162015201420132012201120102009
Revenue $B0.60.40.30.20.20.20.10.00.00.00.0·0.00.00.00.00.0
Operating income $B−1.2−0.9−0.7−0.5−0.4−0.3−0.2−0.3−0.2−0.2−0.1−0.1−0.1−0.0−0.1−0.0−0.0
EBITDA $B−1.2−0.9−0.7−0.5−0.4−0.3−0.2−0.3−0.2−0.2−0.1−0.1−0.1−0.0−0.1−0.0−0.0
Income tax $B0.00.00.00.0−0.00.00.00.0−0.00.0−0.0−0.0−0.00.00.00.00.0
Net income $B−1.3−0.9−0.7−0.5−0.4−0.3−0.3−0.3−0.2−0.2−0.1−0.1−0.1−0.0−0.1−0.00.1
Free cash flow $B−1.0−0.7−0.5−0.4−0.4−0.2−0.3−0.3−0.2−0.2−0.1−0.1−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−6.42−5.57−5.34−3.91−3.88−3.01−3.01−4.22−2.89−2.85−2.02−1.84−1.60−1.56−2.95−0.499.30
Dividend / sh $·················
Payout %·················
ROE %−249.3··−193.2−126.7−109.4−108.2−113.9−74.7−75.6−47.5−48.0−42.4−32.4−36.5−4.195.5
Shares out B0.210.180.150.140.120.100.090.080.080.060.060.050.040.030.020.02·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 69 reconciliationsAUDITED

Reconciled in 17 of 19 fiscal years. 19 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityPharmaceutical Preparations
Listed onNASDAQ
Incorporated inVirginia
Fiscal year endsDecember 31
Data on record since2009

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