INSM (Insmed Incorporated) Stock Financials & Earnings | Market Cap Arena

INSM (Insmed Incorporated) Stock Financials & Earnings | Market Cap Arena

INSMInsmed Incorporated

Mkt Cap$31B

Healthcare·Biotechnology·🇺🇸 United States·NASDAQ

Revenue (TTM)$606M

Net Income (TTM)-$1.3B

EPS (TTM)-$6.41

Free Cash Flow (TTM)-$998M

Gross Margin79.4%

Op. Margin-194.0%

Net Margin-210.5%

FCF Margin-164.5%

P/S Ratio (TTM)51.7x

P/E Ratio (TTM)—

YoY Rev Growth+66.7%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$65M	$51M	-$148M
Q2 23	$77M	$61M	-$236M
Q3 23	$79M	$62M	-$148M
Q4 23	$84M	$65M	-$178M
Q1 24	$76M	$58M	-$146M
Q2 24	$90M	$69M	-$289M
Q3 24	$93M	$72M	-$213M
Q4 24	$104M	$78M	-$230M
Q1 25	$93M	$72M	-$248M
Q2 25	$107M	$79M	-$313M
Q3 25	$142M	$113M	-$366M
Q4 25	$264M	$218M	-$250M

Valuation

Quarter	P/S	P/E
Q1 23	121.8x	—
Q2 23	116.4x	—
Q3 23	111.7x	—
Q4 23	102.8x	—
Q1 24	99.4x	—
Q2 24	95.4x	—
Q3 24	91.5x	—
Q4 24	86.2x	—
Q1 25	82.3x	—
Q2 25	78.8x	—
Q3 25	70.2x	—
Q4 25	51.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	-$146M	-$150M
Q2 23	-$123M	-$128M
Q3 23	-$136M	-$139M
Q4 23	-$131M	-$133M
Q1 24	-$184M	-$189M
Q2 24	-$123M	-$130M
Q3 24	-$181M	-$185M
Q4 24	-$196M	-$203M
Q1 25	-$262M	-$272M
Q2 25	-$206M	-$209M
Q3 25	-$220M	-$222M
Q4 25	-$248M	-$294M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$3M
Q2 23	$5M
Q3 23	$3M
Q4 23	$2M
Q1 24	$5M
Q2 24	$7M
Q3 24	$4M
Q4 24	$7M
Q1 25	$10M
Q2 25	$3M
Q3 25	$2M
Q4 25	$47M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+22.8%	+49.3%
Q2 23	+18.4%	+103.7%
Q3 23	+16.7%	+16.0%
Q4 23	+41.1%	+24.3%
Q1 24	+15.8%	+3.6%
Q2 24	+17.0%	+21.3%
Q3 24	+18.2%	+35.3%
Q4 24	+24.8%	+27.8%
Q1 25	+22.9%	+54.3%
Q2 25	+18.9%	+10.8%
Q3 25	+52.4%	+65.7%
Q4 25	+152.6%	+53.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$16M	25.2%
Q2 23	$18M	23.8%
Q3 23	$20M	25.3%
Q4 23	$20M	23.9%
Q1 24	$21M	28.4%
Q2 24	$23M	25.8%
Q3 24	$26M	27.3%
Q4 24	$27M	25.4%
Q1 25	$39M	42.3%
Q2 25	$43M	40.0%
Q3 25	$31M	22.1%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q1 23	$128M	$80M	—
Q2 23	$197M	$84M	—
Q3 23	$109M	$91M	—
Q4 23	$137M	$90M	—
Q1 24	$121M	$93M	—
Q2 24	$147M	$107M	—
Q3 24	$151M	$119M	—
Q4 24	$180M	$143M	—
Q1 25	$153M	$148M	—
Q2 25	$177M	$155M	—
Q3 25	$186M	$186M	—
Q4 25	$255M	—	$212M

Revenue Segments

Quarter	Reportable Segment
Q1 25	$93M
Q2 25	$107M

Revenue by Geography

Quarter	Europe And The Rest Of The World	Japan	United States	Non-US
Q1 23	$3M	$13M	$49M	—
Q2 23	$4M	$16M	$58M	—
Q3 23	$4M	$16M	$59M	—
Q4 23	$4M	$21M	$58M	—
Q1 24	$4M	$15M	$56M	—
Q2 24	$5M	$21M	$64M	—
Q3 24	$6M	$21M	$67M	—
Q1 25	$6M	$22M	$64M	—
Q2 25	$8M	$31M	$69M	—
Q3 25	—	—	$102M	$40M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$969M	$30M	$999M
Q2 23	$613M	$305M	$918M
Q3 23	$487M	$299M	$786M
Q4 23	$482M	$298M	$780M
Q1 24	$596M	$0	$596M
Q2 24	$1.2B	$0	$1.2B
Q3 24	$461M	$1.0B	$1.5B
Q4 24	$555M	$879M	$1.4B
Q1 25	$403M	$796M	$1.2B
Q2 25	$1.3B	$572M	$1.9B
Q3 25	$335M	$1.3B	$1.7B
Q4 25	$510M	$920M	$1.4B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	136M	+2.8%
Q2 23	138M	+0.9%
Q3 23	143M	+3.9%
Q4 23	145M	+1.3%
Q1 24	148M	+2.5%
Q2 24	155M	+4.2%
Q3 24	174M	+12.3%
Q4 24	179M	+3.1%
Q1 25	181M	+1.0%
Q2 25	189M	+4.7%
Q3 25	211M	+11.7%
Q4 25	214M	+1.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$129K	89
FY 15	$0	125
FY 16	$0	161
FY 17	$0	214
FY 18	$26K	373
FY 19	$314K	435
FY 20	$316K	521
FY 21	$407K	463
FY 22	$424K	579
FY 23	$335K	912
FY 24	$286K	1K
FY 25	$3K	200K