Insmed (INSM) Operating Expenses (2010 - 2026)
Insmed (INSM) posted quarterly Operating Expenses of $459.3 million for Q1 2026, up 34.7% year-over-year from $341.0 million in Q1 2025, and down 21.3% quarter-over-quarter from $583.6 million in Q4 2025.
Insmed (INSM) Operating Expenses (2010 - 2026) Analysis & Trends
Insmed's Operating Expenses history runs 17 years deep, the most recent figure standing at $459.3 million for Q1 2026.
- In Q1 2026, Operating Expenses rose 34.7% year-over-year to $459.3 million; the TTM figure through Mar 2026 stood at $2.0 billion (up 44.76% YoY), while the FY2025 annual figure was $1.9 billion, up 49.22% from the prior year.
- Operating Expenses for Q1 2026 stood at $459.3 million, down from $583.6 million in the prior quarter.
- The five-year high for Operating Expenses was $583.6 million in Q4 2025, with the low at $142.9 million in Q1 2022.
- The 5-year median for Operating Expenses is $306.9 million (2024), against an average of $310.1 million.
- The sharpest annual moves came in 2023 and 2024: Operating Expenses soared 103.7% in 2023, then climbed 3.58% in 2024.
- Insmed's Operating Expenses stood at $210.8 million in 2022, then gained by 24.29% to $262.0 million in 2023, then gained by 27.82% to $334.9 million in 2024, then soared by 74.28% to $583.6 million in 2025, then dropped by 21.3% to $459.3 million in 2026.
- Business Quant data shows INSM's Operating Expenses at $459.3 million in Q1 2026, $583.6 million in Q4 2025, and $508.3 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 2.09 Bn |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 3.00 Bn |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 2.89 Bn |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | 505.13 Mn |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 1.21 Bn |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | 4,978.15 |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 541.02 Mn |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 1.06 Bn |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | 427.03 Mn |
| 10 | Roivant Sciences | 26.16 Bn | 26.85 Bn | 1.16 Mn | 367.83 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 427.03 Mn |
| Mar 31, 2026 | 459.28 Mn |
| Dec 31, 2025 | 583.59 Mn |
| Sep 30, 2025 | 508.35 Mn |
| Jun 30, 2025 | 420.29 Mn |
| Mar 31, 2025 | 340.96 Mn |
| Dec 31, 2024 | 334.86 Mn |
| Sep 30, 2024 | 306.85 Mn |
| Jun 30, 2024 | 379.24 Mn |
| Mar 31, 2024 | 221.01 Mn |
| Dec 31, 2023 | 261.97 Mn |
| Sep 30, 2023 | 226.74 Mn |
| Jun 30, 2023 | 312.76 Mn |
| Mar 31, 2023 | 213.37 Mn |
| Dec 31, 2022 | 210.78 Mn |
| Sep 30, 2022 | 195.43 Mn |
| Jun 30, 2022 | 153.54 Mn |
| Mar 31, 2022 | 142.94 Mn |
| Dec 31, 2021 | 155.20 Mn |
| Sep 30, 2021 | 150.37 Mn |