What is Insmed's pre-tax income?

Insmed (INSM) reported pre-tax income of -$162.1M in Q1 2026.

How has Insmed's pre-tax income changed year-over-year?

Insmed's pre-tax income increased by 36.6% year-over-year, from -$255.67M to -$162.1M.

What is the long-term trend for Insmed's pre-tax income?

Over 4 years (2021 to 2025), Insmed's pre-tax income has grown at a 30.7% compound annual growth rate (CAGR), from -$436.41M to -$1.27B.

What does pre-tax income mean?

Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.

Insmed INSM Pre-Tax Income

Pre-Tax Income at other companies

United TherapeuticsUTHR

$318.3M-24.8%

ANI PharmaceuticalsANIP

$40.22M+101%

Regeneron PharmaceuticalsREGN

$831.2M-8.2%

SavaraSVRA

-$26.64M-30.9%

Theravance BiopharmaTBPH

-$6.47M+54.2%

Innoviva, Inc.INVA

$234.56M+708%

Other financials

Income statement

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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

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Market cap$23.18B+19.9%

Enterprise value$23.17B+24.5%

P/S28.3×-20.3×

Profitability

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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×

Where this comes from

Reported directly by Insmed in its filing.

Tagged under the XBRL concept us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest.

The official record: Insmed’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Insmed's pre-tax income?: Insmed (INSM) reported pre-tax income of -$162.1M in Q1 2026.
How has Insmed's pre-tax income changed year-over-year?: Insmed's pre-tax income increased by 36.6% year-over-year, from -$255.67M to -$162.1M.
What is the long-term trend for Insmed's pre-tax income?: Over 4 years (2021 to 2025), Insmed's pre-tax income has grown at a 30.7% compound annual growth rate (CAGR), from -$436.41M to -$1.27B.
What does pre-tax income mean?: Total income from all sources — operating income plus non-operating items like interest income, investment gains, and other income — before the provision for income taxes.