Insmed reported strong revenue growth driven by the successful U.S. commercial launch of BRINSUPRI and continued expansion of ARIKAYCE, exceeding guidance. The company is advancing its pipeline with multiple Phase 3 studies and anticipates significant revenue growth in 2026.
ARIKAYCE global revenue grew 19% in 2025 compared to 2024, exceeding the upper end of 2025 guidance.
positiveBRINSUPRI U.S. commercial launch exceeded expectations, contributing $144.6 million in Q4 2025 and $172.7 million for full-year 2025.
positiveTotal company revenues reached $606.4 million for full-year 2025, a 67% increase year-over-year.
positiveCompany ends 2025 with approximately $1.4 billion of cash, cash equivalents, and marketable securities.
positiveFDA grants Orphan Drug Designation to Treprostinil Palmitil for Treatment of PAH.
positiveNet loss for the fourth quarter of 2025 was $328.5 million, or $1.54 per share, compared to a net loss of $235.5 million, or $1.32 per share, for the fourth quarter of 2024.
negativeFull-year 2025 net loss was $1,276.8 million, or $6.42 per share, compared to a net loss of $913.8 million, or $5.57 per share, for full-year 2024.
negativeOperating expenses increased significantly, with R&D expenses at $771.1 million for full-year 2025 (up from $598.4 million in 2024) and SG&A expenses at $701.2 million (up from $461.1 million in 2024), driven by commercial activities and acquisitions.
attentionInventory levels increased to $132,068 million in 2025 from $98,578 million in 2024.
attentionAccounts receivable increased to $140,857 million in 2025 from $52,012 million in 2024.
attentionMargin metrics will be available once backend extracts data from insights_json
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
ARIKAYCE | N/A | — | — | — |
BRINSUPRI | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Insmed is energized by significant opportunities ahead to serve patients with serious diseases.
The U.S. commercial launch of BRINSUPRI continues to exceed expectations.
The company will continue to bring BRINSUPRI to patients, expand Phase 3 clinical programs for TPIP, and advance its early-stage pipeline.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.