INSM · XBRL financial data

INSMED financial statements, every fiscal year

The same tables from 8 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (INSM's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	164	188	245	305	364	606
Cost of goods and services sold	40	44	55	66	86	123
Research and development	181	273	398	571	598	771
Selling, general and administrative	—	—	266	345	461	701
General and administrative	204	234	266	345	—	—
Operating income (loss)	(265)	(375)	(457)	(710)	(878)	(1,247)
Interest expense	30	40	26	82	85	84
Other income (expense)	0	(3)	(6)	2	0	(2)
Income tax expense (benefit)	1	(2)	1	3	4	5
Net income (loss)	(294)	(435)	(482)	(750)	(914)	(1,277)
Earnings per share, basic USD per share	(3.01)	(3.88)	(3.91)	(5.34)	(5.57)	(6.42)
Earnings per share, diluted USD per share	(3.01)	(3.88)	(3.91)	(5.34)	(5.57)	(6.42)
Weighted average shares, basic millions of shares	98	112	123	140	164	199
Weighted average shares, diluted millions of shares	98	112	123	140	164	199

Fiscal years (INSM's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	533	717	1,074	482	555	510
Marketable securities	—	0	74	298	879	920
Marketable securities, non-current	—	50	0	—	—	—
Accounts receivable	17	24	30	41	52	141
Inventory	50	67	70	83	99	132
Prepaid and other current assets	24	29	25	24	37	91
Total current assets	623	837	1,273	929	1,622	1,794
Property and equipment, net	54	53	56	65	80	103
Right-of-use asset	33	33	22	18	17	21
Goodwill	0	136	136	136	136	136
Total assets	796	1,244	1,656	1,330	2,025	2,265
Accounts payable	43	36	50	65	73	80
Accrued liabilities	38	61	—	—	—	—
Current portion of long-term debt	—	—	—	0	—	0
Total current liabilities	119	135	190	226	298	469
Long-term debt	356	567	1,125	1,155	1,103	541
Lease liability, non-current	21	21	15	11	9	12
Total liabilities	520	833	1,568	1,662	1,740	1,526
Accumulated deficit	(1,831)	(2,265)	(2,697)	(3,446)	(4,360)	(5,637)
Total stockholders' equity	276	410	88	(332)	285	739
Total liabilities and equity	796	1,244	1,656	1,330	2,025	2,265
Common shares outstanding (cover page) millions of shares	103	119	136	148	181	216

Fiscal years (INSM's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(294)	(435)	(482)	(750)	(914)	(1,277)
Stock-based compensation	36	46	58	75	97	153
Depreciation and amortization	9	9	5	6	—	—
Net cash from operating activities	(219)	(363)	(400)	(536)	(684)	(935)
Purchases of property and equipment	6	7	10	13	22	33
Net cash from investing activities	(7)	(64)	(35)	(224)	(583)	(65)
Proceeds from issuing common stock	246	270	292	152	1,084	823
Net cash from financing activities	271	613	793	168	1,341	954
Net change in cash	45	184	357	(592)	73	(45)

SIC 2834 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 2834 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Runway	Quarter
INSMED	397	524	(36)*	219.4M	—	Q3 FY26 10-QSep 30, 2026
Biogen	1,304	2,804	641*	147.8M	—	Q3 FY26 10-QSep 30, 2026
Teva Pharmaceutical Industries	4,085	4,395	241	1.2B	—	Q3 FY26 10-QSep 30, 2026
BeOne Medicines	5,098	1,705	463*	1.5B	—	Q2 FY26 10-QJun 30, 2026
United Therapeutics	1,189	833	not reported	42.6M	—	Q3 FY26 10-QSep 30, 2026
Alnylam Pharmaceuticals	1,754	1,458	341*	133.9M	—	Q3 FY26 10-QSep 30, 2026
Idexx Laboratories	198	1,214	450*	78.8M	—	Q3 FY26 10-QSep 30, 2026
Roivant Sciences	1,248	1.4	(271)	722.3M	14.2 quarters	Q1 FY26 10-QJun 30, 2026
Neurocrine Biosciences	642	1,123	395*	101.2M	—	Q3 FY26 10-QSep 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.