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Insmed INSM Q1 2026 earnings

Reported May 7, 2026 · Before market open

Revenue$306.0MBeat by $5.2MDiluted EPS-$0.76Beat by $0.14
Revenue estimate$300.8M
EPS estimate-$0.90

Next report

Aug 6, 2026 (In 3 weeks)
Revenue estimate$390.1M
EPS estimate-$0.75

Financials

Q1 2026

Income statement

See full
Revenue$306.0M+230%
Gross profit$258.5M+261%
Operating income-$153.3M+38.2%
Net income-$163.6M+36.3%
EPS (diluted)-$0.76+46.5%

Balance sheet

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Cash & equivalents$582.2M+44.4%
Total debt$580.3M-49.2%
Total equity$704.9M+611%
Total assets$2.1B+15.2%

Cash flow

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Operating cash flow-$222.7M+15.0%
CapEx$3.5M-65.4%
Free cash flow-$226.2M+16.9%

Valuation & ratios

Valuation

as of 07/09/26
See full
Market cap$25.26B+155%
Enterprise value$25.26B+142%
P/S30.8×+4.8×

Profitability

See full
Gross margin81.8%+5.3pp
Operating margin-140.6%-43.9pp
Net margin-144.4%-45.3pp
FCF margin-112.5%-35.3pp

Returns & leverage

See full
Return on equity-294.5%—
Debt / equity0.8×-10.7×
Current ratio4.5×-1.4×

Segments

By product

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ARIKAYCE external R&D expenses$98.1M+5.7%

Versus estimates

Revenue

Q1 2026$306.0MBeat by $5.2M
Q4 2025$263.8MBeat by $32.6MQ3 2025$142.3MBeat by $26.9MQ2 2025$107.4MBeat by $3.3MQ1 2025$92.8MBeat by $1.4MQ4 2024$104.4MBeat by $2.4M

Diluted EPS

Q1 2026-$0.76Beat by $0.14
Q4 2025-$1.54Miss by $0.47Q3 2025-$1.75Miss by $0.42Q2 2025-$1.70Miss by $0.40Q1 2025-$1.42Miss by $0.08Q4 2024-$1.32Miss by $0.15

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Questions, answered.

When did Insmed report Q1 2026 earnings?
Insmed (INSM) reported Q1 2026 earnings on May 7, 2026 before market open.
What were Insmed's Q1 2026 revenue and EPS?
Insmed reported revenue of $306.0M and diluted EPS of $-0.76 for Q1 2026.
Did Insmed beat estimates in Q1 2026?
Revenue beat the consensus estimate of $300.8M by $5.2M. EPS beat the consensus estimate of $-0.90 by $0.14.
How did Insmed's Q1 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 229.6% from $92.8M a year earlier and diluted EPS grew 46.5% from $-1.42.
Where can I find Insmed's Q1 2026 SEC filings?
You can read the 8-K earnings release (0001140361-26-019430) and the 10-Q periodic report (0001104506-26-000032) directly on SEC EDGAR. The filing index links above go to sec.gov.