INSMED Inc
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $606.4M | $363.7M | $305.2M | $245.4M | $188.5M |
| Cost of revenue | $122.9M | $85.7M | $65.6M | $55.1M | $44.2M |
| Selling, general & administrative | $701.2M | $461.1M | $344.5M | $265.8M | — |
| Research and development | $771.1M | $598.4M | $571.0M | $397.5M | $272.7M |
| Operating income | -$1.2B | -$878.3M | -$709.6M | -$457.3M | -$375.1M |
| Interest expense | $83.8M | $84.9M | $81.7M | $26.4M | $40.5M |
| Pretax income | -$1.3B | -$910.1M | -$747.0M | -$480.2M | -$436.4M |
| Income tax expense | $5.0M | $3.7M | $2.6M | $1.4M | -$1.8M |
| Net income | -$1.3B | -$913.8M | -$749.6M | -$481.5M | -$434.7M |
| Balance Sheet | |||||
| Cash and equivalents | $510.4M | $555.0M | $482.4M | $1.1B | $716.8M |
| Current assets | $1.8B | $1.6B | $929.1M | $1.3B | $837.0M |
| Total assets | $2.3B | $2.0B | $1.3B | $1.7B | $1.2B |
| Current liabilities | $468.9M | $297.5M | $225.6M | $190.2M | $135.2M |
| Total liabilities | $1.5B | $1.7B | $1.7B | $1.6B | $833.0M |
| Stockholders' equity | $739.0M | $285.4M | -$331.9M | $88.0M | $410.5M |
| Cash Flow Statement | |||||
| Cash from operations | -$935.0M | -$683.9M | -$536.2M | -$400.4M | -$363.3M |
| Depreciation and amortization | $10.4M | $6.0M | $5.5M | $5.3M | $9.1M |
| Stock-based compensation | $152.7M | $96.8M | $74.8M | $57.7M | $46.0M |
| Capital expenditure | $32.6M | $21.9M | $13.3M | $9.9M | $7.3M |
| Free cash flow | -$967.6M | -$705.8M | -$549.5M | -$410.3M | -$370.6M |
| Impairments | $0 | $0 | — | — | — |
Shares outstanding 216.8M · Free float 94.4%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.