INSM Q2 2025 Earnings
Reported Aug 7, 2025 at 7:01 AM ET · SEC Source
Q2 25 EPS
$-1.70
MISS 29.59%
Est. $-1.31
Q2 25 Revenue
$107.4M
BEAT +2.97%
Est. $104.3M
vs S&P Since Q2 25
+6.9%
BEATING MARKET
INSM +20.9% vs S&P +14.0%
Market Reaction
Did INSM Beat Earnings? Q2 2025 Results
Insmed delivered a mixed second quarter for 2025, posting revenue that edged past expectations while its bottom line fell short by a meaningful margin. The company reported $107.42 million in total revenue, beating the $104.31 million consensus by 2.… Read more Insmed delivered a mixed second quarter for 2025, posting revenue that edged past expectations while its bottom line fell short by a meaningful margin. The company reported $107.42 million in total revenue, beating the $104.31 million consensus by 2.97% and marking 18.9% growth year-over-year, fueled by record U.S. ARIKAYCE sales of $68.70 million and a 45.3% surge in Japan. But the earnings picture darkened on the cost side, with the net loss coming in at $1.70 per share, missing the $1.31 consensus estimate by 29.59%, as aggressive brensocatib launch readiness spending pushed SG&A to $154.76 million and total operating expenses to $420.29 million. The heavy investment reflects management's bet on a near-term inflection point, with brensocatib's PDUFA date set for August 12, 2025, and an immediate U.S. Launch planned upon approval. Insmed reiterated its full-year ARIKAYCE revenue guidance of $405 million to $425 million, representing 11% to 17% growth, and expects cash burn to ease as brensocatib revenue begins contributing in coming quarters.
Key Takeaways
- • ARIKAYCE U.S. achieved highest quarterly revenue ever driven by continued patient demand
- • Japan and ex-U.S. ARIKAYCE strength driven by volumes supported by new targeting and patient experience strategies
- • 19% year-over-year ARIKAYCE revenue growth across all geographic regions
- • Three consecutive positive clinical trial results across all late-stage assets (ARIKAYCE, brensocatib, TPIP)
INSM YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
INSM Revenue by Segment
With YoY comparisons, source: SEC Filings
INSM Revenue by Geography
With YoY comparisons, source: SEC Filings
“The second quarter of 2025 heralded another important milestone for patients and Insmed, with the Phase 2b PAH study of TPIP yielding topline results that surpassed our expectations. Insmed is now 'three for three' in terms of positive clinical trial results for our late-stage assets, and we have a line-up of additional anticipated milestones with the potential to expand our impact on patients expected over the next twelve months.”
— Will Lewis, Q2 2025 Earnings Press Release
INSM Earnings Trends
INSM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
INSM EPS Trend
Earnings per share: estimate vs actual
INSM Revenue Trend
Quarterly revenue: estimate vs actual
INSM Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS FY | $-1.17 | $-1.54 | -31.62% | $263.8M | — |
| FY Full Year | $-5.87 | — | — | — | — |
| Q3 25 MISS | $-1.37 | $-1.75 | -28.02% | $142.3M | +23.25% |
| Q2 25 MISS | $-1.31 | $-1.70 | -29.59% | $107.4M | +2.97% |
| Q1 25 MISS | $-1.36 | $-1.42 | -4.36% | $92.8M | +0.80% |