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Insmed vs Alkermes: INSM and ALKS compared
Insmed is the larger company: $524M of revenue in its latest quarter (Q3 2026) against $480M for Alkermes (Q3 2026). Insmed is growing faster (+268% against +22% a year earlier). Alkermes is more profitable, with an operating margin of 7.5% against -17.0%.
Where the money goes: INSM and ALKS
Insmed (INSM) · Q3 2026
Insmed, Q3 2026: revenue $524M (+268% year over year), operating margin -17.0%, net loss $100M, operating cash flow −$36.5M. The chart follows the revenue to costs, profit and cash.
Alkermes (ALKS) · Q3 2026
Alkermes, Q3 2026: revenue $480M (+22% year over year), operating margin 7.5%, net earnings $16.3M, operating cash flow $93.5M. The chart follows the revenue to costs, profit and cash.
| Insmed (INSM) | Alkermes (ALKS) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $524M | $480M |
| Revenue growth, Y/Y | +268% | +22% |
| Operating margin | -17.0% | 7.5% |
| Net earnings | −$100M | $16.3M |
| Net margin | -19.1% | 3.4% |
| Operating cash flow | −$36.5M | $93.5M |
| Free cash flow | — | $90.1M |
| Market value | $25.0B | $8.1B |
| Analysts’ mean target | $194.18 | $57.74 |
Where the revenue comes from
Insmed
- BRINSUPRI: $400M (76%)
- ARIKAYCE: $124M (24%)
Alkermes
- Product: $417M (87%)
- Royalty: $63.2M (13%)
Questions
Which is bigger, Insmed or Alkermes?
Insmed is the larger company: $524M of revenue in its latest quarter (Q3 2026) against $480M for Alkermes (Q3 2026).
Is Insmed or Alkermes growing faster?
Insmed is growing faster (+268% against +22% a year earlier).
Which is more profitable, Insmed or Alkermes?
Alkermes is more profitable, with an operating margin of 7.5% against -17.0%.
More: Insmed earnings · how Insmed makes money · Alkermes earnings · how Alkermes makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Oct 29, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.