Insmed (INSM) Operating Expenses (2010 - 2026)
Insmed (INSM) recorded Operating Expenses of $427.03 million in Q2 2026, up 1.6% from $420.29 million a year earlier but down 7.0% from the prior quarter.
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Analysis
Insmed (INSM) Operating Expenses (2010 - 2026) Analysis & Trends
On a TTM basis, Insmed's Operating Expenses came in at $1.98 billion as of Jun 30, 2026, up 41.0% year-over-year; for FY2025, it was $1.85 billion, up 49.2% from FY2024.
- Annual Operating Expenses has increased for 13 straight years, with a five-year compound annual growth rate of 34.0% (FY2020 to FY2025).
- Across earlier years, Operating Expenses came in at $1.24 billion in FY2024 (+22.4%), $1.01 billion in FY2023 (+44.4%), $702.68 million in FY2022 (+24.7%) and $563.56 million in FY2021 (+31.2%).
- Quarterly Operating Expenses has ranged from $142.94 million in Q1 2022 to $583.59 million in Q4 2025 over the past five years.
- On a year-over-year basis, Operating Expenses has increased for 34 consecutive quarters, with growth averaging 38.1% over the last eight quarters.
- Over the past five years, the year-over-year growth in Operating Expenses ranged from 1.6% (Q2 2026) to 103.7% (Q2 2023).
- Per Business Quant, the preceding three quarters came in at $459.28 million (Q1 2026), $583.59 million (Q4 2025) and $508.35 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Johnson & Johnson | 655.56 Bn | 574.09 Bn | 17.26 Bn | 10.12 Bn |
| 2 | AbbVie | 470.94 Bn | 444.10 Bn | 12.70 Bn | 10.56 Bn |
| 3 | Merck | 367.14 Bn | 321.57 Bn | 12.21 Bn | 12.80 Bn |
| 4 | Novartis Ag | 280.33 Bn | 236.20 Bn | 11.24 Bn | -6.09 Bn |
| 5 | Astrazeneca | 257.78 Bn | 231.34 Bn | 12.86 Bn | -9.70 Bn |
| 6 | Amgen | 226.04 Bn | 181.44 Bn | 7.24 Bn | 6.54 Bn |
| 7 | Gilead Sciences | 188.89 Bn | 163.01 Bn | 6.22 Bn | 18.20 Bn |
| 8 | Pfizer | 163.75 Bn | 110.70 Bn | 10.94 Bn | 6.68 Bn |
| 9 | Vertex Pharmaceuticals | 133.68 Bn | 105.69 Bn | 2.84 Bn | 2.09 Bn |
| 10 | Insmed | 25.69 Bn | 20.19 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 |
API Access
Insmed Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=INSM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "INSM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=INSM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();