Insmed (INSM) Operating Expenses (2010 - 2026)
Insmed (INSM) posted Operating Expenses of $427.0 million for Q2 2026, down 7.02% on a QoQ basis from $459.3 million in Q1 2026, and up 1.6% year-over-year from $420.3 million in Q2 2025.
Analysis
Insmed (INSM) Operating Expenses (2010 - 2026) Analysis & Trends
Insmed has reported Operating Expenses for 17 years, with the latest figure at $427.0 million in Q2 2026.
- On a quarterly basis, Operating Expenses rose 1.6% year-over-year to $427.0 million in Q2 2026; TTM through Jun 2026 was $2.0 billion, a 41.01% increase from a year earlier, with the FY2025 full-year figure at $1.9 billion, up 49.22% from the prior year.
- Operating Expenses was $427.0 million for Q2 2026 at Insmed, down from $459.3 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.
- Average Operating Expenses over 5 years is $316.6 million, with a median of $309.8 million recorded in 2023.
- The sharpest annual moves came in 2023 and 2026: Operating Expenses surged 103.7% in 2023, then gained 1.6% in 2026.
- Over 5 years, Operating Expenses stood at $210.8 million in 2022, then climbed by 24.29% to $262.0 million in 2023, then climbed by 27.82% to $334.9 million in 2024, then surged by 74.28% to $583.6 million in 2025, then retreated by 26.83% to $427.0 million in 2026.
- The last three Operating Expenses figures came in at $427.0 million (Q2 2026), $459.3 million (Q1 2026), and $583.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Amgen | 204.00 Bn | 190.01 Bn | 7.24 Bn | 6.54 Bn |
| 2 | Gilead Sciences | 178.36 Bn | 175.09 Bn | 6.22 Bn | 18.20 Bn |
| 3 | Vertex Pharmaceuticals | 130.59 Bn | 122.73 Bn | 2.84 Bn | 2.09 Bn |
| 4 | Regeneron Pharmaceuticals | 80.34 Bn | 72.34 Bn | 3.93 Bn | 3.00 Bn |
| 5 | Argenx Se | 60.92 Bn | 55.73 Bn | 1.37 Bn | -1.05 Bn |
| 6 | Moderna | 57.44 Bn | 52.31 Bn | 52.00 Mn | 960.00 Mn |
| 7 | Alnylam Pharmaceuticals | 33.26 Bn | 29.95 Bn | 992.69 Mn | 1.06 Bn |
| 8 | Biogen | 32.08 Bn | 30.80 Bn | 1.96 Bn | 2.60 Bn |
| 9 | Roivant Sciences | 29.50 Bn | 30.19 Bn | 1.16 Mn | 367.83 Mn |
| 10 | Insmed | 28.25 Bn | 27.09 Bn | 358.27 Mn | 427.03 Mn |
Historic Data
Download Data
Historic 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 |