What is Insmed's SG&A?

Insmed (INSM) reported SG&A of $247.26M in Q1 2026.

How has Insmed's SG&A changed year-over-year?

Insmed's SG&A increased by 67.6% year-over-year, from $147.55M to $247.26M.

What is the long-term trend for Insmed's SG&A?

Over 3 years (2022 to 2025), Insmed's SG&A has grown at a 38.2% compound annual growth rate (CAGR), from $265.78M to $701.17M.

Combined selling expenses (sales force, marketing, distribution) and general & administrative costs (management, legal, accounting, facilities) — the broadest opex category.

Insmed INSM SG&A

SG&A at other companies

United TherapeuticsUTHR

$184.1M+8.2%

ANI PharmaceuticalsANIP

$73.66M-3.8%

Regeneron PharmaceuticalsREGN

$647.7M+2.3%

Theravance BiopharmaTBPH

$17.72M-3.5%

Innoviva, Inc.INVA

$32.44M+18.0%

MannkindMNKD

$54.09M+116%

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:SellingGeneralAndAdministrativeExpense.

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 SG&A?: Insmed (INSM) reported SG&A of $247.26M in Q1 2026.
How has Insmed's SG&A changed year-over-year?: Insmed's SG&A increased by 67.6% year-over-year, from $147.55M to $247.26M.
What is the long-term trend for Insmed's SG&A?: Over 3 years (2022 to 2025), Insmed's SG&A has grown at a 38.2% compound annual growth rate (CAGR), from $265.78M to $701.17M.
What does SG&A mean?: Combined selling expenses (sales force, marketing, distribution) and general & administrative costs (management, legal, accounting, facilities) — the broadest opex category.