INSMED Inc

INSM 10-K · FY 2025

INSM FY 2025 request

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Income Statement

Income Statement
Metric FY 2025 FY 2024 YoY
Revenue 606,423 363,707 +66.7%
Show Product Lines breakouts
ARIKAYCE 433,765 363,707 +19.3%
ARIKAYCE · Non Us 153,471 108,907 +40.9%
ARIKAYCE · US 280,294 254,800 +10.0%
BRINSUPRI 172,658
BRINSUPRI · US 172,658
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Reportable Segment 606,423 363,707 +66.7%
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Non Us 153,471 108,907 +40.9%
US 452,952 254,800 +77.8%
Cost of Revenue 122,938 85,742 +43.4%
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Reportable Segment 122,938 85,742 +43.4%
Total Costs & Expenses 1,853,192 1,241,959 +49.2%
Research & Development 771,093 598,367 +28.9%
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ARIKAYCE · Reportable Segment 41,441 60,269 -31.2%
Brensocatib · Reportable Segment 96,516 98,569 -2.1%
INS1148 · Reportable Segment 40,000
Other · Reportable Segment 129,866 90,604 +43.3%
TPIP · Reportable Segment 94,201 65,935 +42.9%
Selling, General & Administrative 701,167 461,116 +52.1%
Operating Income -1,246,769 -878,252 -42.0%
Interest Expense -83,795 -84,913 +1.3%
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Reportable Segment -83,795 -84,913 +1.3%
Other Non-Operating Income (Expense) -1,841 29 -6448.3%
Income Before Taxes -1,271,749 -910,065 -39.7%
Income Tax Expense (Benefit) 5,026 3,707 +35.6%
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Reportable Segment 5,026 3,707 +35.6%
Comprehensive Income -1,273,025 -915,316 -39.1%
Other Comprehensive Income 3,750 -1,544 +342.9%
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Accumulated Other Comprehensive Income 3,750 -1,544 +342.9%
EPS (Basic) -6.42 -5.57 -15.3%
EPS (Diluted) -6.42 -5.57 -15.3%
Wtd Avg Shares (Basic) 199,014 164,043 +21.3%
Wtd Avg Shares (Diluted) 199,014 164,043 +21.3%
Net Income Loss Available To Common Stockholders Basic -1,276,775 -913,772 -39.7%
Interest Expense 83,795 84,913 -1.3%

Balance Sheet

Balance Sheet
Metric FY 2025 FY 2024 YoY
Current Assets
Cash & Cash Equivalents 510,445 555,030 -8.0%
Marketable Securities (Current) 919,602 878,796 +4.6%
Accounts Receivable 140,857 52,012 +170.8%
Inventory 132,068 98,578 +34.0%
Prepaid Expenses & Other Current Assets 91,236 37,245 +145.0%
Total Current Assets 1,794,208 1,621,661 +10.6%
Non-Current Assets
Property, Plant & Equipment 102,942 80,052 +28.6%
Operating Lease Right-of-Use Assets 20,708 17,257 +20.0%
Intangible Assets 97,651 58,652 +66.5%
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AstraZeneca · Licensing Agreements 44,051
PARI · Licensing Agreements 962 1,164 -17.4%
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Acquired Research And Development [Member] 23,038 27,888 -17.4%
In Process Research And Development 29,600 29,600 0.0%
Goodwill 136,110 136,110 0.0%
Total Assets 2,264,558 2,025,231 +11.8%
Other Assets
Finance Lease Right Of Use Asset 15,561 18,273 -14.8%
Other Assets 97,378 93,226 +4.5%
Current Liabilities
Accounts Payable And Accrued Liabilities Current 456,060 285,209 +59.9%
Finance Lease Liability Current 3,345 2,961 +13.0%
Operating Lease Liability Current 9,469 9,358 +1.2%
Total Current Liabilities 468,874 297,528 +57.6%
Accounts Payable 79,907 73,033 +9.4%
Non-Current Liabilities
Long-Term Debt 540,964 1,103,382 -51.0%
Accrued Royalties Current And Noncurrent 162,865 161,067 +1.1%
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Royalty Agreements · Secured Debt 164,945 163,671 +0.8%
Business Combination Contingent Consideration Liability Noncurrent 314,340 144,200 +118.0%
Show Fair Value Hierarchy breakouts
Fair Value Inputs Level3 · Motus Biosciences, Inc. 314.3
Finance Lease Liability Noncurrent 20,719 24,064 -13.9%
Operating Lease Liabilities 12,174 9,112 +33.6%
Other Non-Current Liabilities 5,646 499 +1031.5%
Total Liabilities 1,525,582 1,739,852 -12.3%
Long-Term Debt 546,770
Stockholders' Equity
Common Stock 2,143 1,794 +19.5%
Additional Paid-In Capital 6,372,064 4,645,791 +37.2%
Retained Earnings -5,636,692 -4,359,917 -29.3%
Accumulated Other Comprehensive Income 1,461 -2,289 +163.8%
Total Stockholders' Equity 738,976 285,379 +158.9%
Show Equity Components breakouts
Accumulated Other Comprehensive Income 1,461 -2,289 +163.8%
Additional Paid In Capital 6,372,064 4,645,791 +37.2%
Common Stock 2,143 1,794 +19.5%
Retained Earnings -5,636,692 -4,359,917 -29.3%
Total Liabilities & Equity 2,264,558 2,025,231 +11.8%

Cash Flow Statement

Cash Flow Statement
Metric FY 2025 FY 2024 YoY
Operating Activities
Net Income -1,276,775 -913,772 -39.7%
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Retained Earnings -1,276,775 -913,772 -39.7%
Depreciation 10,449 5,961 +75.3%
Amortization Of Intangible Assets 6,001 5,052 +18.8%
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AstraZeneca · Licensing Agreements 949
PARI · Licensing Agreements 202 202 0.0%
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Reportable Segment 6,001 5,052 +18.8%
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Acquired Research And Development [Member] 4,850 4,850 0.0%
Stock-Based Compensation 152,710 96,835 +57.7%
Amortization Of Financing Costs And Discounts 6,216 6,884 -9.7%
Other Noncash Expense 20,675 20,044 +3.1%
Accretion Of Debt Discount Marketable Securities -38,348 -19,160 -100.1%
Finance Lease Right Of Use Asset Amortization 2,712 2,712 0.0%
Noncash Operating Lease Expense 9,652 3,588 +169.0%
Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 251,993 91,682 +174.9%
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Reportable Segment 251,993 91,682 +174.9%
Change in Accounts Receivable -88,307 -12,932 -582.9%
Change in Inventory -31,519 -17,044 -84.9%
Change in Prepaid & Other Assets -53,431 -14,182 -276.8%
Increase Decrease In Other Noncurrent Assets -2,123 8,335 -125.5%
Increase Decrease In Accounts Payable And Accrued Liabilities 100,073 44,592 +124.4%
Increase Decrease In Other Operating Liabilities -4,992 -11,946 +58.2%
Net Cash from Operations -935,014 -683,882 -36.7%
Deferred Income Taxes -27 -29 +6.9%
Investing Activities
Capital Expenditures -32,561 -21,923 -48.5%
Payment Of Milestone -30,000
Payments To Acquire Marketable Securities -2,092,014 -1,577,252 -32.6%
Proceeds From Sale And Maturity Of Marketable Securities 2,090,000 1,016,000 +105.7%
Net Cash from Investing -64,575 -583,175 +88.9%
Financing Activities
Proceeds From Stock Options Exercised 135,717 113,243 +19.8%
Proceeds From Issuance Of Common Stock 823,282 1,084,124 -24.1%
Repayments Of Convertible Debt -1,965
Finance Lease Principal Payments -2,961 -2,610 -13.4%
Net Cash from Financing 954,073 1,341,020 -28.9%
Amortization of Financing Costs 6,216 6,884 -9.7%
Show Debt Instrument breakouts
Royalty Agreements · Secured Debt 524 524 0.0%
Supplemental
Interest Paid 55,353 40,567 +36.4%
Income Taxes Paid 4,141 2,499 +65.7%
Other Cash Flow
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 931 -1,307 +171.2%
Net Change in Cash -44,585 72,656 -161.4%
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents 510,445 555,030 -8.0%

Values in thousands USD. Source: SEC EDGAR 10-K filing.

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