For the quarter ending 2026-03-31, INSM had $71,743K increase in cash & cash equivalents over the period. -$226,218K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Product revenues, net | -36,616 | - | 342,580 | - |
| Cost of product revenues (excluding amortization of intangible assets) | -31,298 | - | 78,718 | - |
| Research and development-ARIKAYCE | -23,716 | - | 32,338 | - |
| Research and development-Brensocatib | -55,092 | - | 73,576 | - |
| Research and development-TPIP | -21,215 | - | 58,556 | - |
| Research and development-Other | -60,429 | - | 93,107 | - |
| R&d compensation and benefit-related expenses | -101,624 | - | 173,764 | - |
| Sg&a compensation and benefit-related expenses | -93,650 | - | 168,443 | - |
| Other segment items | -187,787 | - | 398,275 | - |
| Depreciation | -3,891 | - | 6,825 | - |
| Amortization of intangible assets | -1,983 | - | 4,064 | - |
| Change in fair value of contingent consideration | -228,914 | - | 181,953 | - |
| Investment income | -33,380 | - | 45,420 | - |
| Interest expense | -43,114 | - | 63,196 | - |
| Provision for income taxes | -2,010 | - | 3,475 | - |
| Net loss | -163,563 | -328,485 | -370,021 | -578,269 |
| Depreciation | 2,934 | 3,624 | 2,458 | 4,367 |
| Amortization of intangible assets | 2,081 | 1,937 | 1,538 | 2,526 |
| Stock-based compensation expense | 45,754 | 39,039 | 31,433 | 82,238 |
| Change in fair value of interest rate swap | - | 0 | 0 | 0 |
| Amortization of debt issuance costs | 1,382 | 1,376 | 1,342 | 3,498 |
| Paid-in-kind interest capitalized | - | 0 | 0 | 0 |
| Royalty financing non-cash interest expense | 5,114 | 5,331 | 5,129 | 10,215 |
| Accretion of discount on marketable securities, net | 6,513 | 10,397 | 12,041 | 15,910 |
| Finance lease amortization expense | 678 | 678 | 678 | 1,356 |
| Vertuis/adrestia acquisition-Vertuis Bio Inc | - | 0 | - | - |
| Non-cash operating lease expense | 567 | 6,904 | 1,174 | 1,574 |
| Vertuis/adrestia acquisition-Adrestia Therapeutics Ltd | - | 0 | - | - |
| Change in fair value of contingent consideration | -46,961 | 70,040 | 104,653 | 77,300 |
| Accounts receivable | 38,190 | 77,300 | 10,226 | 781 |
| Inventory | 1,886 | 11,764 | 13,758 | 5,997 |
| Prepaid expenses and other current assets | -12,594 | 26,224 | 3,732 | 23,475 |
| Other assets | 2,357 | 11,787 | 2,851 | -12,515 |
| Accounts payable and accrued liabilities | -33,875 | 90,346 | 45,559 | -35,832 |
| Other liabilities | -497 | -914 | -1,096 | -2,982 |
| Net cash used in operating activities | -222,738 | -247,596 | -219,761 | -467,657 |
| Purchase of fixed assets | 3,480 | 16,589 | 2,418 | 13,554 |
| Payment of az milestone | 15,000 | 30,000 | - | - |
| Purchase of marketable securities | 0 | 0 | 1,184,815 | 907,199 |
| Cash acquired in asset acquisition | - | 0 | - | - |
| Maturities of marketable securities | 284,000 | 436,000 | 425,000 | 1,229,000 |
| Proceeds from issuance of common stock, net | - | 0 | -256 | 823,538 |
| Net cash provided by investing activities | 265,520 | 389,411 | -762,233 | 308,247 |
| Proceeds from issuance of term loan | - | 0 | - | - |
| Payments of principal of 0.75 convertible senior notes due 2028 | - | 0 | 0 | 1,965 |
| Payment of debt issuance costs | - | 0 | - | - |
| Proceeds from exercise of stock options and espp | 30,313 | 34,635 | 34,413 | 66,669 |
| Payments of finance lease principal | 799 | 776 | 747 | 1,438 |
| Net cash provided by financing activities | 29,514 | 33,859 | 33,410 | 886,804 |
| Effect of exchange rates on cash and cash equivalents | -553 | 7 | -976 | 1,900 |
| Net increase (decrease) in cash and cash equivalents | 71,743 | 175,681 | -949,560 | 729,294 |
| Cash and cash equivalents at beginning of period | 334,764 | - | 555,030 | - |
| Cash and cash equivalents at end of period | 582,188 | - | 334,764 | - |
INSMED Inc (INSM)
INSMED Inc (INSM)