Insmed R&D decreased by 17.8% to $209.49M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 37.3%, from $152.58M to $209.49M. Over 4 years (FY 2021 to FY 2025), R&D shows an upward trend with a 29.7% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2014
Last reportedQ1 2026
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
Metric ID:
research_and_developmentHistorical Data
20 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $64.66M | $70.35M | $76.35M | $84.36M | $88.53M | $99.87M | $124.76M | $127.87M | $196.97M | $109.15M | $137.03M | $121.08M | $146.75M | $150.81M | $179.73M | $152.58M | $177.19M | $186.42M | $254.91M | $209.49M |
| QoQ Change | — | +8.8% | +8.5% | +10.5% | +4.9% | +12.8% | +24.9% | +2.5% | +54.0% | -44.6% | +25.5% | -11.6% | +21.2% | +2.8% | +19.2% | -15.1% | +16.1% | +5.2% | +36.7% | -17.8% |
| YoY Change | — | — | — | — | +36.9% | +42.0% | +63.4% | +51.6% | +122.5% | +9.3% | +9.8% | -5.3% | -25.5% | +38.2% | +31.2% | +26.0% | +20.7% | +23.6% | +41.8% | +37.3% |
Range$64.66M – $254.91M
CAGR+28.1%
Avg YoY Growth+32.7%
Median YoY Growth+34.0%
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| TPIP external R&D expenses | $14.77M | $16.64M | $20.75M | $9.15M | $20.65M | $28.75M | $35.65M | $37.34M |
| Other external R&D expenses | $14.92M | $26.92M | $35.49M | $28.08M | $28.45M | $36.58M | $36.76M | $32.68M |
| Brensocatib external R&D expenses | $37.81M | $17.29M | $23.96M | $20.66M | $33.56M | $19.36M | $22.94M | $18.48M |
| ARIKAYCE external R&D expenses | $14.90M | $16.37M | $15.08M | $12.12M | $11.00M | $9.21M | $9.10M | $8.62M |
| Total | $146.75M | $150.81M | $179.73M | $152.58M | $177.19M | $186.42M | $254.91M | $209.49M |
INS1148 is derived from annual filings.
R&D at Other Companies
Frequently Asked Questions
- What is Insmed's r&d?
- Insmed (INSM) reported r&d of $209.49M in Q1 2026.
- How has Insmed's r&d changed year-over-year?
- Insmed's r&d increased by 37.3% year-over-year, from $152.58M to $209.49M.
- What is the long-term trend for Insmed's r&d?
- Over 4 years (2021 to 2025), Insmed's r&d has grown at a 29.7% compound annual growth rate (CAGR), from $272.74M to $771.09M.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.