Filing Flows › Insmed (INSM) › Q2 2025
Insmed (INSM) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Insmed (INSM) reported revenue of $107M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +16% from the quarter before. Operating margin was -291.3%, net loss $322M (299.5% of revenue).
Insmed, Q2 2025: revenue $107M (+19% year over year), operating margin -291.3%, net loss $322M, operating cash flow −$206M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $107M | +16% | +19% |
| Operating profit | −$313M | — | — |
| Net earnings | −$322M | — | — |
| Operating cash flow | −$206M | — | — |
What changed
Revenue was $107.4M in Q2 2025, up 19% year over year and up 16% from the previous quarter.
Operating costs exceeded revenue by $312.9M, an operating margin of -291.3%. Total costs grew 11% against revenue growth of 19%. The fastest-growing cost line was SG&A (+45%). The quarter ended with a net loss of $321.7M, wider than the previous quarter's $256.6M loss.
Operating cash flow was −$205.6M. Non-cash charges added back $3.7M of depreciation and amortization and $43.0M of share-based compensation. Working capital and other items added $69.4M. Capital expenditures of $3.5M exceeded it, leaving free cash flow of −$209.1M.
Questions
What was Insmed's revenue in the second quarter 2025?
Insmed (INSM) reported revenue of $107M for the second quarter 2025 (Q2 2025), +19% from a year earlier and +16% from the quarter before.
Was Insmed profitable in the second quarter 2025?
Operating loss was $313M (-291.3% of revenue) and net loss $322M.
Source: Insmed 10-Q on SEC EDGAR.