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Insmed INSM ARIKAYCE external R&D expenses — R&D

Other product segments

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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

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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:ResearchAndDevelopmentExpense.

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 ARIKAYCE external R&D expenses — R&D?
Insmed (INSM) reported ARIKAYCE external R&D expenses — R&D of $8.62M in Q1 2026.
How has Insmed's ARIKAYCE external R&D expenses — R&D changed year-over-year?
Insmed's ARIKAYCE external R&D expenses — R&D decreased by 28.9% year-over-year, from $12.12M to $8.62M.
What is the long-term trend for Insmed's ARIKAYCE external R&D expenses — R&D?
Over 3 years (2022 to 2025), Insmed's ARIKAYCE external R&D expenses — R&D has grown at a -12.1% compound annual growth rate (CAGR), from $61.02M to $41.44M.
What does ARIKAYCE external R&D expenses — R&D mean?
This metric captures the external research and development costs directly attributable to a specific commercialized product or therapeutic program. It encompasses third-party expenses such as clinical trial site fees, contract research organization costs, and external manufacturing development related to the asset. Monitoring this allows stakeholders to evaluate the specific cost burden of maintaining the clinical pipeline and regulatory compliance for a key revenue-generating asset.