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Insmed INSM Q4 2025 Annual earnings

Reported February 19, 2026 · Before market open

Revenue$263.8MBeat by $32.6M
EPS-$1.54Miss by $0.47
Revenue estimate$231.2M
EPS estimate-$1.07

Next report

Oct 29, 2026 (in 2 months)
Revenue estimate$501.2M
EPS estimate-$0.37

Financials

Q4 2025

Income statement

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Revenue$263.8M+153%
Gross profit$219.6M+181%
Operating income-$319.7M-38.8%
Net income-$328.5M-39.5%
EPS (diluted)-$1.53-17.7%

Balance sheet

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Cash & equivalents$510.4M-8.0%
Total debt$590.0M-48.8%
Total equity$739.0M+159%
Total assets$2.3B+11.8%

Cash flow

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Operating cash flow-$247.6M-26.3%
CapEx$16.6M+145%
Free cash flow-$264.2M-30.3%

Valuation & ratios

Valuation

as of 12/31/25
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Market cap$37.12B+201%
Enterprise value$37.2B+187%
P/S61.2×+27.2×

Profitability

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Gross margin79.7%+3.3pp
Operating margin-205.6%-26.6pp
Net margin-210.5%-29.4pp
FCF margin-159.6%-24.1pp

Returns & leverage

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Return on equity-249.3%—
Debt / equity0.8×-3.2×
Current ratio3.8×-1.6×

Segments

By product

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ARIKAYCE external R&D expenses$119.2M+14.2%

FAQ

When did Insmed report Q4 2025 earnings?
Insmed (INSM) reported Q4 2025 earnings on February 19, 2026 before market open.
What were Insmed's Q4 2025 revenue and EPS?
Insmed reported revenue of $263.8M and eps of $-1.54 for Q4 2025.
Did Insmed beat estimates in Q4 2025?
Revenue beat the consensus estimate of $231.2M by $32.6M. EPS missed the consensus estimate of $-1.07 by $0.47.
How did Insmed's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 152.6% from $104.4M a year earlier and eps declined 16.7% from $-1.32.
Where can I find Insmed's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001140361-26-006116) and the 10-K periodic report (0001104506-26-000009) directly on SEC EDGAR. The filing index links above go to sec.gov.