$INSM
INSMED Inc Stock $insm

$insm Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-Q Financial Statement

#000110450623000012 Filed on May 04, 2023

Income Statement

Concept	2023 Q2	2023 Q1	2022 Q1
Revenue	$77.23M	$65.21M	$53.11M
YoY Change	18.41%	22.8%	32.06%
Cost Of Revenue	$16.59M	$13.83M	$12.19M
YoY Change	1.21%	13.44%	23.84%
Gross Profit	$60.64M	$51.38M	$40.92M
YoY Change	24.19%	25.58%	34.73%
Gross Profit Margin	78.51%	78.79%	77.04%
Selling, General & Admin	$84.43M	$79.91M	$56.75M
YoY Change	40.78%	40.82%	10.08%
% of Gross Profit	139.24%	155.52%	138.69%
Research & Development	$197.0M	$127.9M	$84.36M
YoY Change	122.5%	51.58%	37.41%
% of Gross Profit	324.84%	248.84%	206.17%
Depreciation & Amortization	$3.252M	$1.248M	$1.286M
YoY Change	13.83%	-2.95%	-46.15%
% of Gross Profit	5.36%	2.43%	3.14%
Operating Expenses	$282.7M	$127.9M	$84.36M
YoY Change	219.3%	51.58%	37.41%
Operating Profit	-$222.0M	-$148.2M	-$89.83M
YoY Change	151.4%	64.93%	7.16%
Interest Expense	-$9.447M	$20.00M	$3.291M
YoY Change	-381.41%	507.81%	-56.46%
% of Operating Profit
Other Income/Expense, Net	$696.0K	-$111.0K	-$1.249M
YoY Change	-116.16%	-91.11%	2804.65%
Pretax Income	-$244.3M	-$159.3M	-$94.24M
YoY Change	156.75%	69.02%	3.1%
Income Tax	$530.0K	$500.0K	$400.0K
% Of Pretax Income
Net Earnings	-$244.8M	-$159.8M	-$94.62M
YoY Change	155.96%	68.85%	3.25%
Net Earnings / Revenue	-316.99%	-244.98%	-178.17%
Basic Earnings Per Share	-$1.78	-$1.17	-$0.80
Diluted Earnings Per Share	-$1.78	-$1.17	-$0.80
COMMON SHARES
Basic Shares Outstanding	136.4M shares	136.4M shares	118.9M shares
Diluted Shares Outstanding	137.6M shares	136.4M shares	118.9M shares

Balance Sheet

Concept	2023 Q2	2023 Q1	2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$917.8M	$998.7M	$635.1M
YoY Change	65.39%	57.25%	54.98%
Cash & Equivalents	$612.9M	$968.9M	$515.7M
Short-Term Investments	$304.9M	$29.80M	$119.4M
Other Short-Term Assets	$26.36M	$28.54M	$31.15M
YoY Change	12.84%	-8.38%	44.23%
Inventory	$77.35M	$71.32M	$64.15M
Prepaid Expenses
Receivables	$30.95M	$30.52M	$25.72M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$1.052B	$1.129B	$756.1M
YoY Change	55.98%	49.32%	50.92%
LONG-TERM ASSETS
Property, Plant & Equipment	$100.9M	$59.56M	$52.68M
YoY Change	87.09%	13.06%	-0.02%
Goodwill	$136.1M	$136.1M	$136.1M
YoY Change	0.0%	0.0%
Intangibles
YoY Change
Long-Term Investments			$29.55M
YoY Change
Other Assets	$83.45M	$81.32M	$57.20M
YoY Change	25.86%	42.17%	23.28%
Total Long-Term Assets	$386.7M	$388.7M	$397.2M
YoY Change	2.14%	-2.15%	107.52%
TOTAL ASSETS
Total Short-Term Assets	$1.052B	$1.129B	$756.1M
Total Long-Term Assets	$386.7M	$388.7M	$397.2M
Total Assets	$1.439B	$1.518B	$1.153B
YoY Change	36.62%	31.6%	66.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$58.79M	$56.67M	$48.57M
YoY Change	88.76%	16.67%	116.62%
Accrued Expenses	$143.0M	$126.5M	$53.29M
YoY Change	143.36%	137.47%	29.06%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$2.445M	$2.158M	$125.0K
YoY Change	1053.3%	1626.4%	-88.64%
Total Short-Term Liabilities	$204.3M	$188.0M	$125.2M
YoY Change	79.46%	50.09%	53.87%
LONG-TERM LIABILITIES
Long-Term Debt	$1.168B	$1.132B	$783.2M
YoY Change	49.01%	44.57%	116.6%
Other Long-Term Liabilities	$222.5M	$9.876M	$15.53M
YoY Change	1446.52%	-36.39%	66.98%
Total Long-Term Liabilities	$1.391B	$1.142B	$798.7M
YoY Change	74.19%	42.99%	115.35%
TOTAL LIABILITIES
Total Short-Term Liabilities	$204.3M	$188.0M	$125.2M
Total Long-Term Liabilities	$1.391B	$1.142B	$798.7M
Total Liabilities	$1.595B	$1.562B	$1.033B
YoY Change	58.05%	51.18%	110.58%
SHAREHOLDERS EQUITY
Retained Earnings	-$3.101B	-$2.856B	-$2.310B
YoY Change	28.93%	23.67%	20.16%
Common Stock	$1.428M	$1.364M	$1.193M
YoY Change	19.1%	14.33%	15.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$155.7M	-$44.65M	$119.9M
YoY Change
Total Liabilities & Shareholders Equity	$1.439B	$1.518B	$1.153B
YoY Change	36.62%	31.6%	66.57%

Cashflow Statement

Concept	2023 Q2	2023 Q1	2022 Q1
OPERATING ACTIVITIES
Net Income	-$244.8M	-$159.8M	-$94.62M
YoY Change	155.96%	68.85%	3.25%
Depreciation, Depletion And Amortization	$3.252M	$1.248M	$1.286M
YoY Change	13.83%	-2.95%	-46.15%
Cash From Operating Activities	-$122.8M	-$146.3M	-$105.2M
YoY Change	20.03%	39.12%	-18.02%
INVESTING ACTIVITIES
Capital Expenditures	$4.883M	$3.398M	$1.701M
YoY Change	-268.15%	99.76%	44.03%
Acquisitions
YoY Change
Other Investing Activities	-$269.3M	$45.00M	-$99.71M
YoY Change		-145.13%
Cash From Investing Activities	-$274.2M	$41.60M	-$101.4M
YoY Change	9340.63%	-141.02%	8486.54%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	44.33M	-$399.0K	$6.459M
YoY Change	602.36%	-106.18%	-3.64%
NET CHANGE
Cash From Operating Activities	-122.8M	-$146.3M	-$105.2M
Cash From Investing Activities	-274.2M	$41.60M	-$101.4M
Cash From Financing Activities	44.33M	-$399.0K	$6.459M
Net Change In Cash	-352.6M	-$105.1M	-$201.1M
YoY Change	256.57%	-47.72%	63.47%
FREE CASH FLOW
Cash From Operating Activities	-$122.8M	-$146.3M	-$105.2M
Capital Expenditures	$4.883M	$3.398M	$1.701M
Free Cash Flow	-$127.7M	-$149.7M	-$106.9M
YoY Change	28.45%	40.09%	-17.46%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2023Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001104506
CY2023Q1	dei	Amendment Flag AmendmentFlag	false
CY2023Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2023Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2023
CY2023Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
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CY2023Q1	dei	Document Type DocumentType	10-Q
CY2023Q1	dei	Document Quarterly Report DocumentQuarterlyReport	true
CY2023Q1	dei	Document Period End Date DocumentPeriodEndDate	2023-03-31
CY2023Q1	dei	Document Transition Report DocumentTransitionReport	false
CY2023Q1	dei	Entity File Number EntityFileNumber	000-30739
CY2023Q1	dei	Entity Registrant Name EntityRegistrantName	INSMED INC
CY2023Q1	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	VA
CY2023Q1	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	54-1972729
CY2023Q1	dei	Entity Address Address Line1 EntityAddressAddressLine1	700 US Highway 202/206
CY2023Q1	dei	Entity Address City Or Town EntityAddressCityOrTown	Bridgewater
CY2023Q1	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
CY2023Q1	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	08807
CY2023Q1	dei	City Area Code CityAreaCode	908
CY2023Q1	dei	Local Phone Number LocalPhoneNumber	977-9900
CY2023Q1	dei	Security12b Title Security12bTitle	Common stock, par value $0.01 per share
CY2023Q1	dei	Trading Symbol TradingSymbol	INSM
CY2023Q1	dei	Security Exchange Name SecurityExchangeName	NASDAQ
CY2023Q1	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2023Q1	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2023Q1	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
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CY2023Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
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CY2021Q4	us-gaap	Stockholders Equity StockholdersEquity	410468000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-94621000	usd
CY2022Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	-1198000	usd
CY2022Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	6816000	usd
CY2022Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	2000	usd
CY2022Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	12823000	usd
CY2022Q1	us-gaap	Stockholders Equity StockholdersEquity	119880000	usd
CY2022Q4	us-gaap	Stockholders Equity StockholdersEquity	87951000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-159764000	usd
CY2023Q1	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	327000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	1139000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	1000	usd
CY2023Q1	us-gaap	Stock Issued During Period Value Acquisitions StockIssuedDuringPeriodValueAcquisitions	9250000	usd
CY2023Q1	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	16443000	usd
CY2023Q1	us-gaap	Stockholders Equity StockholdersEquity	-44653000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-159764000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-94621000	usd
CY2023Q1	us-gaap	Depreciation Depreciation	1248000	usd
CY2022Q1	us-gaap	Depreciation Depreciation	1286000	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1263000	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1263000	usd
CY2023Q1	us-gaap	Share Based Compensation ShareBasedCompensation	16443000	usd
CY2022Q1	us-gaap	Share Based Compensation ShareBasedCompensation	12823000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	1724000	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs And Discounts AmortizationOfFinancingCostsAndDiscounts	822000	usd
CY2023Q1	us-gaap	Paid In Kind Interest PaidInKindInterest	5456000	usd
CY2022Q1	us-gaap	Paid In Kind Interest PaidInKindInterest	0	usd
CY2023Q1	us-gaap	Other Noncash Expense OtherNoncashExpense	2615000	usd
CY2022Q1	us-gaap	Other Noncash Expense OtherNoncashExpense	0	usd
CY2023Q1	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	678000	usd
CY2022Q1	us-gaap	Finance Lease Right Of Use Asset Amortization FinanceLeaseRightOfUseAssetAmortization	729000	usd
CY2023Q1	insm	Noncash Operating Lease Expense NoncashOperatingLeaseExpense	2491000	usd
CY2022Q1	insm	Noncash Operating Lease Expense NoncashOperatingLeaseExpense	2369000	usd
CY2023Q1	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	-9500000	usd
CY2022Q1	us-gaap	Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1 BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1	-11618000	usd
CY2023Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	-1533000	usd
CY2022Q1	us-gaap	Unrealized Gain Loss On Derivatives UnrealizedGainLossOnDerivatives	0	usd
CY2023Q1	insm	Noncash Acquisition Related Expense NoncashAcquisitionRelatedExpense	10250000	usd
CY2022Q1	insm	Noncash Acquisition Related Expense NoncashAcquisitionRelatedExpense	0	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	860000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1798000	usd
CY2023Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	1187000	usd
CY2022Q1	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	-2240000	usd
CY2023Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	3199000	usd
CY2022Q1	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	2752000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	5231000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	6289000	usd
CY2023Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-8841000	usd
CY2022Q1	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	13363000	usd
CY2023Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-1422000	usd
CY2022Q1	us-gaap	Increase Decrease In Other Operating Liabilities IncreaseDecreaseInOtherOperatingLiabilities	-22978000	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-146303000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-105161000	usd
CY2023Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	3398000	usd
CY2022Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	1701000	usd
CY2023Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	0	usd
CY2022Q1	us-gaap	Payments To Acquire Marketable Securities PaymentsToAcquireMarketableSecurities	99706000	usd
CY2023Q1	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	45000000	usd
CY2022Q1	us-gaap	Proceeds From Sale And Maturity Of Marketable Securities ProceedsFromSaleAndMaturityOfMarketableSecurities	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	41602000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-101407000	usd
CY2023Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	1139000	usd
CY2022Q1	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	6818000	usd
CY2023Q1	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	320000	usd
CY2022Q1	us-gaap	Finance Lease Principal Payments FinanceLeasePrincipalPayments	359000	usd
CY2023Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	1218000	usd
CY2022Q1	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	usd
CY2023Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	-399000	usd
CY2022Q1	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	6459000	usd
CY2023Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-29000	usd
CY2022Q1	us-gaap	Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	-969000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-105129000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	-201078000	usd
CY2022Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	1074036000	usd
CY2021Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	716782000	usd
CY2023Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	968907000	usd
CY2022Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	515704000	usd
CY2023Q1	us-gaap	Interest Paid Net InterestPaidNet	11589000	usd
CY2022Q1	us-gaap	Interest Paid Net InterestPaidNet	2375000	usd
CY2023Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	1004000	usd
CY2022Q1	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	635000	usd
CY2023Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	968900000	usd
CY2023Q1	us-gaap	Marketable Securities MarketableSecurities	29800000	usd
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-159800000	usd
CY2023Q1	us-gaap	Use Of Estimates UseOfEstimates	<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">- The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. The Company bases its estimates and judgments on historical experience and on various other assumptions. The amounts of assets and liabilities reported in the Company's balance sheets and the amounts of revenues and expenses reported for each period presented are affected by estimates and assumptions, which are used for, but not limited to, the accounting for revenue allowances, stock-based compensation, income taxes, loss contingencies, acquisition related intangibles including in process research and development (IPR&D) and goodwill, fair value of contingent consideration, and accounting for research and development costs. Actual results could differ from those estimates.</span>
CY2023Q1	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="margin-bottom:6pt;margin-top:6pt;text-indent:36pt"><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><div style="margin-bottom:6pt;margin-top:6pt;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 uncollectible trade receivables. The following table presents the percentage of gross product revenue represented by the Company's three largest customers as of the three months ended March 31, 2023.</span></div><div style="margin-bottom:8pt;margin-top:8pt;padding-left:36pt;padding-right:36pt;text-align:center;text-indent:36pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:55.116%"><tr><td style="width:1.0%"/><td style="width:33.913%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:29.934%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:2.717%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:29.936%"/><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%">March 31,</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%">2023</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%">2022</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%">36%</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%">36%</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%">36%</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%">32%</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%">17%</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%">17%</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="margin-bottom:6pt;margin-top:6pt;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>
CY2023Q1	us-gaap	Number Of Reporting Units NumberOfReportingUnits	1	reportingunit
CY2022Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	118929000	shares
CY2023Q1	us-gaap	Net Income Loss NetIncomeLoss	-159764000	usd
CY2022Q1	us-gaap	Net Income Loss NetIncomeLoss	-94621000	usd
CY2023Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	136355000	shares
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	5100000	usd
CY2023Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2022Q1	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2023Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	136355000	shares
CY2022Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	118929000	shares
CY2023Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-1.17
CY2023Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-1.17
CY2022Q1	us-gaap	Earnings Per Share Basic EarningsPerShareBasic	-0.80
CY2022Q1	us-gaap	Earnings Per Share Diluted EarningsPerShareDiluted	-0.80
CY2023Q1	us-gaap	Available For Sale Securities Debt Securities Current AvailableForSaleSecuritiesDebtSecuritiesCurrent	29800000	usd
CY2023Q1	us-gaap	Available For Sale Debt Securities Gross Unrealized Loss AvailableForSaleDebtSecuritiesGrossUnrealizedLoss	200000	usd
CY2023Q1	insm	Business Combination Deferred Liability BusinessCombinationDeferredLiability	6200000	usd
CY2023Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	65214000	usd
CY2022Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	53107000	usd
CY2023Q1	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	24553000	usd
CY2022Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	27245000	usd
CY2023Q1	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	20166000	usd
CY2022Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	22460000	usd
CY2023Q1	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	26598000	usd
CY2022Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	20217000	usd
CY2023Q1	us-gaap	Inventory Net InventoryNet	71317000	usd
CY2022Q4	us-gaap	Inventory Net InventoryNet	69922000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P12Y
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	5100000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Next Twelve Months FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths	5100000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	5100000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	5100000	usd
CY2022Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	68756000	usd
CY2023Q1	us-gaap	Finitelived Intangible Assets Acquired1 FinitelivedIntangibleAssetsAcquired1	0	usd
CY2023Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1263000	usd
CY2023Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	67493000	usd
CY2021Q4	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	73809000	usd
CY2022Q1	us-gaap	Finitelived Intangible Assets Acquired1 FinitelivedIntangibleAssetsAcquired1	0	usd
CY2022Q1	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	1263000	usd
CY2022Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	72546000	usd
CY2023Q1	us-gaap	Goodwill Goodwill	136100000	usd
CY2022Q4	us-gaap	Goodwill Goodwill	136100000	usd
CY2023Q1	us-gaap	Interest Payable Current InterestPayableCurrent	2270000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	100234000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	95936000	usd
CY2023Q1	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	40678000	usd
CY2022Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	39445000	usd
CY2023Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	59556000	usd
CY2022Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	56491000	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	6340000	usd
CY2023Q1	insm	Royalty Revenue Payable RoyaltyRevenuePayable	2608000	usd
CY2023Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	56670000	usd
CY2022Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	50461000	usd
CY2023Q1	insm	Accrued Clinical Trial Expenses AccruedClinicalTrialExpenses	26607000	usd
CY2022Q4	insm	Accrued Clinical Trial Expenses AccruedClinicalTrialExpenses	36456000	usd
CY2023Q1	us-gaap	Accrued Professional Fees Current And Noncurrent AccruedProfessionalFeesCurrentAndNoncurrent	18242000	usd
CY2022Q4	us-gaap	Accrued Professional Fees Current And Noncurrent AccruedProfessionalFeesCurrentAndNoncurrent	14403000	usd
CY2023Q1	insm	Accrued Technical Operation Expenses AccruedTechnicalOperationExpenses	6734000	usd
CY2022Q4	insm	Accrued Technical Operation Expenses AccruedTechnicalOperationExpenses	3345000	usd
CY2023Q1	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	18867000	usd
CY2022Q4	us-gaap	Employee Related Liabilities Current EmployeeRelatedLiabilitiesCurrent	32040000	usd
CY2023Q1	us-gaap	Accrued Royalties Current AccruedRoyaltiesCurrent	6165000	usd
CY2022Q4	us-gaap	Accrued Royalties Current AccruedRoyaltiesCurrent	4710000	usd
CY2022Q4	insm	Royalty Revenue Payable RoyaltyRevenuePayable	2149000	usd
CY2023Q1	insm	Accrued Sales Allowancesand Related Costs AccruedSalesAllowancesandRelatedCosts	11762000	usd
CY2022Q4	insm	Accrued Sales Allowancesand Related Costs AccruedSalesAllowancesandRelatedCosts	6974000	usd
CY2023Q1	us-gaap	Contract With Customer Refund Liability Current ContractWithCustomerRefundLiabilityCurrent	12945000	usd
CY2022Q4	us-gaap	Contract With Customer Refund Liability Current ContractWithCustomerRefundLiabilityCurrent	12943000	usd
CY2023Q1	insm	Business Combination Deferred Payments Current BusinessCombinationDeferredPaymentsCurrent	14300000	usd
CY2022Q4	insm	Business Combination Deferred Payments Current BusinessCombinationDeferredPaymentsCurrent	10700000	usd
CY2023Q1	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1835000	usd
CY2022Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1596000	usd
CY2023Q1	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	179005000	usd
CY2022Q4	us-gaap	Accounts Payable And Accrued Liabilities Current AccountsPayableAndAccruedLiabilitiesCurrent	182117000	usd
CY2023Q1	us-gaap	Variable Lease Cost VariableLeaseCost	100000	usd
CY2022Q1	us-gaap	Variable Lease Cost VariableLeaseCost	100000	usd
CY2023Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1724000	usd
CY2021Q2	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	25.00
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	0	usd
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Finance Lease Liability RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability	9287000	usd
CY2023Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	1751000	usd
CY2022Q1	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	341000	usd
CY2023Q1	insm	Lessee Operating Lease Lease Not Yet Commenced Amount LesseeOperatingLeaseLeaseNotYetCommencedAmount	42500000	usd
CY2022	insm	Lessee Operating Lease Lease Not Yet Commenced Amount LesseeOperatingLeaseLeaseNotYetCommencedAmount	40700000	usd
CY2023Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	1132188000	usd
CY2022Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	1125250000	usd
CY2023Q1	us-gaap	Paid In Kind Interest PaidInKindInterest	5500000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	0	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Next Twelve Months LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths	0	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	225000000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	179811000	usd
CY2023Q1	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	179810000	usd
CY2023Q1	insm	Long Term Debt Maturity After Year Four LongTermDebtMaturityAfterYearFour	575000000	usd
CY2023Q1	us-gaap	Long Term Debt LongTermDebt	1159621000	usd
CY2022Q1	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	822000	usd
CY2023Q1	us-gaap	Interest Expense Other InterestExpenseOther	73000	usd
CY2022Q1	us-gaap	Interest Expense Other InterestExpenseOther	0	usd
CY2023Q1	insm	Interest Expense Excluding Finance Lease Interest Expense InterestExpenseExcludingFinanceLeaseInterestExpense	19389000	usd
CY2022Q1	insm	Interest Expense Excluding Finance Lease Interest Expense InterestExpenseExcludingFinanceLeaseInterestExpense	2885000	usd
CY2023Q1	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	614000	usd
CY2022Q1	us-gaap	Finance Lease Interest Expense FinanceLeaseInterestExpense	406000	usd
CY2023Q1	us-gaap	Interest Expense InterestExpense	20003000	usd
CY2022Q1	us-gaap	Interest Expense InterestExpense	3291000	usd
CY2023Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500000000	shares
CY2023Q1	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2023Q1	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	136429216	shares
CY2023Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	136429216	shares
CY2022Q4	us-gaap	Sale Of Stock Price Per Share SaleOfStockPricePerShare	20.00
CY2022Q4	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	16200000	usd
CY2021Q2	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	17500000	usd
CY2023Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	200000000	shares
CY2023Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2023Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2023Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
CY2023Q1	insm	Share Based Compensation Arrangement By Share Based Payment Award Inducement Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardInducementOptionsGrantsInPeriodGross	484390	shares
CY2023Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	500000	usd
CY2022Q1	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	400000	usd
CY2023Q1	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	usd
CY2023Q1	us-gaap	Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued	0	usd
CY2023Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	2200000	usd
CY2022Q1	us-gaap	Operating Lease Expense OperatingLeaseExpense	2000000	usd
CY2021Q2	insm	Business Acquisition Consecutive Trading Day Period BusinessAcquisitionConsecutiveTradingDayPeriod	45	days

Files In Submission

Name	View Source	Status
0001104506-23-000012-index-headers.html	Edgar Link	pending
0001104506-23-000012-index.html	Edgar Link	pending
0001104506-23-000012.txt	Edgar Link	pending
0001104506-23-000012-xbrl.zip	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
image_0a.jpg	Edgar Link	pending
insm-20230321ex102.htm	Edgar Link	pending
insm-20230331.htm	Edgar Link	pending
insm-20230331.xsd	Edgar Link	pending
insm-20230331ex101.htm	Edgar Link	pending
insm-20230331ex311.htm	Edgar Link	pending
insm-20230331ex312.htm	Edgar Link	pending
insm-20230331ex321.htm	Edgar Link	pending
insm-20230331ex322.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
insm-20230331_cal.xml	Edgar Link	unprocessable
insm-20230331_lab.xml	Edgar Link	unprocessable
insm-20230331_def.xml	Edgar Link	unprocessable
insm-20230331_pre.xml	Edgar Link	unprocessable
insm-20230331_htm.xml	Edgar Link	completed
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report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$INSM
INSMED Inc Stock $insm

2023 Q2 Form 10-Q Financial Statement

#000110450623000012 Filed on May 04, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INSM INSMED Inc Stock $insm

2023 Q2 Form 10-Q Financial Statement

#000110450623000012 Filed on May 04, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INSM
INSMED Inc Stock $insm