$INSM
INSMED Inc

2024 Q4 Form 10-Q Financial Statement

#000110450624000033 Filed on October 31, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $93.43M
YoY Change 18.15%
Cost Of Revenue $21.17M
YoY Change 26.72%
Gross Profit $72.26M
YoY Change 15.86%
Gross Profit Margin 77.34%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $150.8M
YoY Change 38.17%
% of Gross Profit 208.72%
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $150.8M
YoY Change 38.17%
Operating Profit -$213.4M
YoY Change 44.53%
Interest Expense $21.05M
YoY Change 3.78%
% of Operating Profit
Other Income/Expense, Net $1.843M
YoY Change 546.67%
Pretax Income -$219.5M
YoY Change 38.59%
Income Tax $1.000M
% Of Pretax Income
Net Earnings -$220.5M
YoY Change 38.75%
Net Earnings / Revenue -236.04%
Basic Earnings Per Share -$1.27
Diluted Earnings Per Share -$1.27
COMMON SHARES
Basic Shares Outstanding 178.9M shares 171.8M shares
Diluted Shares Outstanding 173.7M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $461.5M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $98.47M
Prepaid Expenses
Receivables $42.32M
Other Receivables
Total Short-Term Assets $1.650B
YoY Change 78.06%
LONG-TERM ASSETS
Property, Plant & Equipment $75.27M
YoY Change 16.46%
Goodwill $136.1M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $403.1M
YoY Change 1.21%
TOTAL ASSETS
Total Short-Term Assets $1.650B
Total Long-Term Assets $403.1M
Total Assets $2.053B
YoY Change 54.96%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $64.95M
YoY Change -0.65%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $259.2M
YoY Change 31.75%
LONG-TERM LIABILITIES
Long-Term Debt $954.8M
YoY Change -16.79%
Other Long-Term Liabilities $3.356M
YoY Change -43.29%
Total Long-Term Liabilities $958.2M
YoY Change -16.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $259.2M
Total Long-Term Liabilities $958.2M
Total Liabilities $1.570B
YoY Change -2.77%
SHAREHOLDERS EQUITY
Retained Earnings -$4.124B
YoY Change 26.51%
Common Stock $1.788M
YoY Change 25.03%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $483.4M
YoY Change
Total Liabilities & Shareholders Equity $2.053B
YoY Change 54.96%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$220.5M
YoY Change 38.75%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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us-gaap Stock Issued During Period Value New Issues
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StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation
ShareBasedCompensation
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5136000 usd
us-gaap Amortization Of Financing Costs And Discounts
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5568000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
19233000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
17202000 usd
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insm Accretion Of Debt Discount Marketable Securities
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us-gaap Unrealized Gain Loss On Derivatives
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us-gaap Net Cash Provided By Used In Operating Activities
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PaymentsToAcquirePropertyPlantAndEquipment
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PaymentsToAcquirePropertyPlantAndEquipment
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insm Proceeds From Cash Acquired In Asset Acquisition
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1218000 usd
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Interest Paid Net
InterestPaidNet
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IncomeTaxesPaidNet
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CashAndCashEquivalentsAtCarryingValue
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us-gaap Net Income Loss
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us-gaap Use Of Estimates
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<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%">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 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&amp;D) and goodwill, fair value of contingent consideration, and accounting for research and development costs. Actual results could differ from those estimates.</span></div>
us-gaap Concentration Risk Credit Risk
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<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 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>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.
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us-gaap Net Income Loss
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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EarningsPerShareDiluted
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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us-gaap Earnings Per Share Basic
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us-gaap Amortization Of Intangible Assets
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RevenueInterestPaymentsPayable
3347000 usd
CY2024Q3 insm Accrued Sales Allowances And Related Costs
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CY2023Q4 us-gaap Contract With Customer Refund Liability Current
ContractWithCustomerRefundLiabilityCurrent
14685000 usd
CY2024Q3 insm Business Combination Deferred Payments Current
BusinessCombinationDeferredPaymentsCurrent
26100000 usd
CY2023Q4 insm Business Combination Deferred Payments Current
BusinessCombinationDeferredPaymentsCurrent
6700000 usd
CY2024Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
8526000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10360000 usd
CY2024Q3 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
248684000 usd
CY2023Q4 us-gaap Accounts Payable And Accrued Liabilities Current
AccountsPayableAndAccruedLiabilitiesCurrent
214987000 usd
CY2024Q3 us-gaap Variable Lease Cost
VariableLeaseCost
12300000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
3900000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
20400000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
8100000 usd
CY2024Q3 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q3 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
usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2024Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd
CY2023Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
3089000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
5656000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
4970000 usd
CY2024Q3 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
56900000 usd
CY2023Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
49100000 usd
CY2024Q3 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
954831000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1155313000 usd
us-gaap Paid In Kind Interest
PaidInKindInterest
19200000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
198385000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
198385000 usd
CY2024Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
574990000 usd
CY2024Q3 insm Long Term Debt Maturity After Year Four And Thereafter
LongTermDebtMaturityAfterYearFourAndThereafter
0 usd
CY2024Q3 us-gaap Long Term Debt
LongTermDebt
971760000 usd
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5568000 usd
us-gaap Interest Income Other
InterestIncomeOther
1093000 usd
insm Interest Expense Excluding Finance Lease Interest Expense
InterestExpenseExcludingFinanceLeaseInterestExpense
61671000 usd
insm Interest Expense Excluding Finance Lease Interest Expense
InterestExpenseExcludingFinanceLeaseInterestExpense
59082000 usd
us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
1828000 usd
us-gaap Interest Expense
InterestExpense
63363000 usd
us-gaap Interest Expense
InterestExpense
60910000 usd
CY2024Q3 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
160049000 usd
CY2024Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
178846991 shares
CY2024Q2 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
34300000 usd
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
20.00
CY2022Q4 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
16200000 usd
CY2024Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
200000000 shares
CY2024Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2024Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q3 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
1207710 shares
CY2024Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000.0 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
500000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2400000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1600000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 usd
CY2024Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0 usd
CY2024Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
3000000.0 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
2600000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
8900000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
6900000 usd
CY2023Q1 us-gaap Share Price
SharePrice
18.50
CY2021Q2 insm Business Acquisition Consecutive Trading Day Period
BusinessAcquisitionConsecutiveTradingDayPeriod
45 days
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false

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