$INSM
INSMED Inc

2021 Q2 Form 10-Q Financial Statement

#000110450621000012 Filed on August 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $45.37M $42.50M $36.86M
YoY Change 6.76% 41.78% 68.3%
Cost Of Revenue $10.84M $9.950M $8.438M
YoY Change 8.91% 102.28% 103.33%
Gross Profit $34.53M $32.55M $28.42M
YoY Change 6.1% 29.9% 60.11%
Gross Profit Margin 76.11% 76.59% 77.11%
Selling, General & Admin $57.18M $49.66M $51.35M
YoY Change 15.14% -5.28% -6.31%
% of Gross Profit 165.59% 152.59% 180.67%
Research & Development $64.66M $35.75M $36.18M
YoY Change 80.86% 6.59% 15.96%
% of Gross Profit 187.25% 109.84% 127.31%
Depreciation & Amortization $3.918M $3.870M $2.266M
YoY Change 1.24% 59.26% 111.97%
% of Gross Profit 11.35% 11.89% 7.97%
Operating Expenses $64.66M $35.75M $36.18M
YoY Change 80.86% 6.59% 15.96%
Operating Profit -$88.57M -$54.11M -$60.36M
YoY Change 63.67% -12.95% -13.17%
Interest Expense $10.32M $7.469M $7.411M
YoY Change 38.16% 10.08% 10.18%
% of Operating Profit
Other Income/Expense, Net -$159.0K -$46.00K $36.00K
YoY Change 245.65% -9.8% -130.25%
Pretax Income -$116.7M -$61.43M -$66.33M
YoY Change 89.98% -7.52% -10.29%
Income Tax $600.0K $400.0K $0.00
% Of Pretax Income
Net Earnings -$117.3M -$61.85M -$66.36M
YoY Change 89.67% -7.01% -10.5%
Net Earnings / Revenue -258.61% -145.56% -180.04%
Basic Earnings Per Share -$1.07 -$0.64
Diluted Earnings Per Share -$1.07 -$0.64 -$739.1K
COMMON SHARES
Basic Shares Outstanding 109.6M shares 96.63M shares 89.78M shares
Diluted Shares Outstanding 109.6M shares 96.63M shares 89.78M shares

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $928.3M $641.9M $428.9M
YoY Change 44.62% 6.75% 2.07%
Cash & Equivalents $928.3M $641.9M $428.9M
Short-Term Investments
Other Short-Term Assets $31.07M $14.80M $15.80M
YoY Change 109.91% -6.92% 27.42%
Inventory $60.39M $35.47M $30.65M
Prepaid Expenses
Receivables $18.42M $15.17M $17.15M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.038B $707.3M $492.5M
YoY Change 46.78% 9.0% 8.33%
LONG-TERM ASSETS
Property, Plant & Equipment $53.78M $56.83M $58.64M
YoY Change -5.35% 46.08% 109.92%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $49.24M $23.60M $21.90M
YoY Change 108.63% 43.03% 93.81%
Total Long-Term Assets $191.6M $178.1M $184.0M
YoY Change 7.6% 15.72% 30.25%
TOTAL ASSETS
Total Short-Term Assets $1.038B $707.3M $492.5M
Total Long-Term Assets $191.6M $178.1M $184.0M
Total Assets $1.230B $885.4M $676.5M
YoY Change 38.9% 10.29% 13.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $31.08M $25.01M $18.19M
YoY Change 24.3% 46.82% -39.82%
Accrued Expenses $45.55M $31.92M $32.69M
YoY Change 42.69% -35.33% -14.69%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $1.158M $1.300M $1.300M
YoY Change -10.92%
Total Short-Term Liabilities $99.66M $78.75M $71.53M
YoY Change 26.54% -8.46% -24.11%
LONG-TERM LIABILITIES
Long-Term Debt $548.7M $346.0M $340.9M
YoY Change 58.6% 6.09% 6.11%
Other Long-Term Liabilities $12.81M $11.34M $10.96M
YoY Change 12.95% 2072.03% 2074.6%
Total Long-Term Liabilities $561.6M $357.3M $351.9M
YoY Change 57.15% 9.4% 9.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $99.66M $78.75M $71.53M
Total Long-Term Liabilities $561.6M $357.3M $351.9M
Total Liabilities $698.7M $480.0M $469.8M
YoY Change 45.55% 7.58% 3.99%
SHAREHOLDERS EQUITY
Retained Earnings -$2.040B -$1.665B -$1.603B
YoY Change 22.52% 17.0% 18.18%
Common Stock $1.152M $1.014M $899.0K
YoY Change 13.61% 13.68% 15.85%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $531.1M $405.3M $206.7M
YoY Change
Total Liabilities & Shareholders Equity $1.230B $885.4M $676.5M
YoY Change 38.9% 10.29% 13.53%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income -$117.3M -$61.85M -$66.36M
YoY Change 89.67% -7.01% -10.5%
Depreciation, Depletion And Amortization $3.918M $3.870M $2.266M
YoY Change 1.24% 59.26% 111.97%
Cash From Operating Activities -$75.45M -$35.95M -$57.94M
YoY Change 109.86% -55.08% -21.55%
INVESTING ACTIVITIES
Capital Expenditures -$3.486M -$1.880M $2.679M
YoY Change 85.43% -82.28% -33.49%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$3.486M -$1.880M -$2.679M
YoY Change 85.43% -82.28% -33.49%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 597.6M 250.8M $2.134M
YoY Change 138.32% -7.68% -30.01%
NET CHANGE
Cash From Operating Activities -75.45M -35.95M -$57.94M
Cash From Investing Activities -3.486M -1.880M -$2.679M
Cash From Financing Activities 597.6M 250.8M $2.134M
Net Change In Cash 518.7M 212.9M -$58.49M
YoY Change 143.59% 17.65% -21.85%
FREE CASH FLOW
Cash From Operating Activities -$75.45M -$35.95M -$57.94M
Capital Expenditures -$3.486M -$1.880M $2.679M
Free Cash Flow -$71.96M -$34.07M -$60.61M
YoY Change 111.21% -50.92% -22.17%

Facts In Submission

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ComprehensiveIncomeNetOfTax
-208731000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-128306000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
206701000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-61854000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-51000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
5141000 USD
CY2020Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
245912000 USD
CY2020Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1000 USD
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
9468000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
405318000 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
201636000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-117321000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
334000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
6565000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
269886000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
196063000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments
37846000 USD
CY2021Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11735000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
531053000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
261674000 USD
us-gaap Net Income Loss
NetIncomeLoss
-128218000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-88000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
7567000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
245912000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
1000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
18470000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
405318000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
275884000 USD
us-gaap Net Income Loss
NetIncomeLoss
-208962000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
231000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2497000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
13525000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
269886000 USD
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
196063000 USD
us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt Subsequent Adjustments
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebtSubsequentAdjustments
37846000 USD
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
2000 USD
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
22270000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
531053000 USD
us-gaap Net Income Loss
NetIncomeLoss
-208962000 USD
us-gaap Net Income Loss
NetIncomeLoss
-128218000 USD
us-gaap Depreciation
Depreciation
4773000 USD
us-gaap Depreciation
Depreciation
4534000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2526000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
22270000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
18470000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-17689000 USD
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
807000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
698000 USD
insm Amortization Of Debt Discount Premium And Accretion Expense
AmortizationOfDebtDiscountPremiumAndAccretionExpense
12389000 USD
insm Amortization Of Debt Discount Premium And Accretion Expense
AmortizationOfDebtDiscountPremiumAndAccretionExpense
9363000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
539000 USD
us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
720000 USD
insm Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
9550000 USD
insm Noncash Operating Lease Expense
NoncashOperatingLeaseExpense
5772000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1855000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-4059000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
11557000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7160000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
7484000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-5424000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
22623000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3251000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-11158000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
12175000 USD
insm Increase Decrease In Accrued Liabilities And Other Current Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities
-1302000 USD
insm Increase Decrease In Accrued Liabilities And Other Current Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities
-12852000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-9327000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-6119000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-203725000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-93888000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4666000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4560000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4666000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-4560000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
13527000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7568000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
269886000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
245912000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
12578000 USD
us-gaap Payments Of Debt Extinguishment Costs
PaymentsOfDebtExtinguishmentCosts
0 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
225000000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
0 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
575000000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
16013000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
522000 USD
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
590000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
604300000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
252890000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-338000 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
40000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
395571000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
154482000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
532756000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
487429000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
928327000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
641911000 USD
us-gaap Interest Paid Net
InterestPaidNet
5911000 USD
us-gaap Interest Paid Net
InterestPaidNet
4819000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
997000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
472000 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
928300000 USD
us-gaap Net Income Loss
NetIncomeLoss
-209000000.0 USD
CY2020Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
insm Fair Value Level1 Level2 Level3 Transfers Amount
FairValueLevel1Level2Level3TransfersAmount
0 USD
insm Fair Value Level1 Level2 Level3 Transfers Amount
FairValueLevel1Level2Level3TransfersAmount
0 USD
CY2020Q4 insm Available For Sale Securities Gross Unrealized Gain Loss Number Of Securities
AvailableForSaleSecuritiesGrossUnrealizedGainLossNumberOfSecurities
0 security
CY2021Q2 insm Available For Sale Securities Gross Unrealized Gain Loss Number Of Securities
AvailableForSaleSecuritiesGrossUnrealizedGainLossNumberOfSecurities
0 security
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-117321000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-61854000 USD
us-gaap Net Income Loss
NetIncomeLoss
-208962000 USD
us-gaap Net Income Loss
NetIncomeLoss
-128218000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
109580000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
96633000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
106328000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
93206000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
0 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
109580000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
96633000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
106328000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
93206000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.07
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.07
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.64
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.64
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.97
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.38
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash equivalents with high credit-quality financial institutions and may invest its short-term investments in US treasury securities, mutual funds and government agency bonds. The Company has established guidelines relative to credit ratings and maturities that seek to maintain safety and liquidity.</span><div style="margin-bottom:8pt;margin-top:8pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company is exposed to risks associated with extending credit to customers related to the sale of products. The Company does not require collateral to secure amounts due from its customers. The Company uses an expected loss methodology to calculate allowances for trade receivables. The Company's measurement of expected credit losses is based on relevant information about past events, including historical experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The Company does not currently have a material allowance for collectible trade receivables. The following table presents the percentage of total gross product revenue represented by the Company's three largest customers for the six months ended June 30, 2021 and 2020.</span></div><div style="margin-bottom:8pt;margin-top:8pt;text-align:center;text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:67.836%"><tr><td style="width:1.0%"/><td style="width:37.908%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.994%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:27.997%"/><td style="width:0.1%"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:14pt"><td colspan="3" rowspan="2" style="background-color:#ffffff;padding:0 1pt"/><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">June 30,</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2020</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer A</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">26%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer B</span></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25%</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer C</span></td><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">23%</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25%</span></td><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr></table></div><div style="text-indent:42.75pt"><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company relies on third-party manufacturers and suppliers for manufacturing and supply of its products. The inability of the suppliers or manufacturers to fulfill supply requirements of the Company could materially impact future operating results. A change in the relationship with the suppliers or manufacturers, or an adverse change in their business, could materially impact future operating results.</span></div>
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
27071000 USD
CY2020Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
21601000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
17468000 USD
CY2020Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
18754000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
15846000 USD
CY2020Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
9237000 USD
CY2021Q2 us-gaap Inventory Net
InventoryNet
60385000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
49592000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46700000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
49300000 USD
us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P12Y
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
5100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
5100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
5100000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
5100000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
49261000 USD
us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
0 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2526000 USD
CY2021Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
46735000 USD
CY2021Q2 insm Accrued Clinical Trial Expenses
AccruedClinicalTrialExpenses
13136000 USD
CY2020Q4 insm Accrued Clinical Trial Expenses
AccruedClinicalTrialExpenses
6733000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
86907000 USD
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
82303000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
33123000 USD
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
28350000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53784000 USD
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
53953000 USD
CY2021Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
12182000 USD
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
8594000 USD
CY2021Q2 insm Accrued Technical Operation Expenses
AccruedTechnicalOperationExpenses
6896000 USD
CY2020Q4 insm Accrued Technical Operation Expenses
AccruedTechnicalOperationExpenses
9164000 USD
CY2021Q2 insm Accrued Royalties And Milestone Payments Current
AccruedRoyaltiesAndMilestonePaymentsCurrent
3654000 USD
CY2020Q4 insm Accrued Royalties And Milestone Payments Current
AccruedRoyaltiesAndMilestonePaymentsCurrent
3423000 USD
CY2021Q2 us-gaap Interest Payable Current
InterestPayableCurrent
2403000 USD
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3631000 USD
CY2021Q2 insm Accrued Sales Allowances And Related Costs
AccruedSalesAllowancesAndRelatedCosts
6314000 USD
CY2020Q4 insm Accrued Sales Allowances And Related Costs
AccruedSalesAllowancesAndRelatedCosts
5051000 USD
CY2021Q2 insm Accrued Construction Liabilities Current
AccruedConstructionLiabilitiesCurrent
141000 USD
CY2020Q4 insm Accrued Construction Liabilities Current
AccruedConstructionLiabilitiesCurrent
364000 USD
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
827000 USD
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
847000 USD
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
45553000 USD
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
37807000 USD
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
200000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1000000.0 USD
us-gaap Variable Lease Cost
VariableLeaseCost
300000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
1100000 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 USD
CY2021Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2100000 USD
CY2020Q2 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
183000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
8641000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
205000 USD
insm Lessee Operating Lease Lease Not Yet Commenced Amount
LesseeOperatingLeaseLeaseNotYetCommencedAmount
28100000 USD
CY2021Q2 us-gaap Secured Debt
SecuredDebt
800000000 USD
CY2020Q4 us-gaap Secured Debt
SecuredDebt
450000000 USD
CY2021Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12621000 USD
CY2020Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5646000 USD
CY2021Q2 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
238634000 USD
CY2020Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
88036000 USD
CY2021Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
548745000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
356318000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
225000000 USD
CY2020Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
4713000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
12389000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
9363000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0 USD
CY2021Q2 insm Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
575000000 USD
CY2021Q2 us-gaap Long Term Debt
LongTermDebt
800000000 USD
CY2021Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
2052000 USD
CY2020Q2 us-gaap Interest Expense Debt
InterestExpenseDebt
1975000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
4021000 USD
us-gaap Interest Expense Debt
InterestExpenseDebt
3948000 USD
CY2021Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
457000 USD
CY2020Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
349000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
807000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
698000 USD
CY2021Q2 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
7482000 USD
CY2021Q2 insm Convertible Debt Interest Expense Total
ConvertibleDebtInterestExpenseTotal
9991000 USD
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2020Q2 insm Convertible Debt Interest Expense Total
ConvertibleDebtInterestExpenseTotal
7037000 USD
insm Convertible Debt Interest Expense Total
ConvertibleDebtInterestExpenseTotal
17217000 USD
insm Convertible Debt Interest Expense Total
ConvertibleDebtInterestExpenseTotal
14009000 USD
CY2021Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
328000 USD
CY2020Q2 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
432000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
661000 USD
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
871000 USD
CY2021Q2 us-gaap Interest Expense
InterestExpense
10319000 USD
CY2020Q2 us-gaap Interest Expense
InterestExpense
7469000 USD
us-gaap Interest Expense
InterestExpense
17878000 USD
us-gaap Interest Expense
InterestExpense
14880000 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000 shares
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
115239269 shares
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
115239269 shares
CY2021Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
25.00
CY2021Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
17500000 USD
CY2020Q2 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
23.25
CY2020Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
13500000 USD
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
insm Share Based Compensation Arrangement By Share Based Payment Award Inducement Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardInducementOptionsGrantsInPeriodGross
444070 shares
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
600000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
400000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
900000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 USD
CY2021Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2020Q2 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2020Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 USD
CY2020Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000 USD
CY2021Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
1100000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
2300000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
1900000 USD

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