INSM: financial statements from SEC

Income statement

Metric	31 Dec 2025	31 Dec 2024
Revenue	606M	364M
Cost of revenue	123M	86M
Research and development	771M	598M
Selling, general and administrative	701M	461M
Operating expenses	1.85B	1.24B
Operating income	−1.25B	−878M
Pre-tax income	−1.27B	−910M
Income tax	5M	4M
Net income	−1.28B	−914M
Earnings per share	−6.42	−5.57
Earnings per share, diluted	−6.42	−5.57
Weighted average shares	199M	164M
Weighted average shares, diluted	199M	164M

Metric	31 Mar 2026	31 Dec 2025	30 Sept 2025	30 Jun 2025	31 Mar 2025	31 Dec 2024	30 Sept 2024	30 Jun 2024
Cash and equivalents	582M	510M	335M	1.28B	403M	555M	461M	1.25B
Short-term investments	641M	920M	1.35B	572M	796M	879M	1.01B	0
Receivables	179M	141M	65M	55M	48M	52M	42M	40M
Inventory	133M	132M	121M	108M	101M	99M	98M	90M
Current assets	1.61B	1.79B	1.93B	2.08B	1.40B	1.62B	1.65B	1.42B
Property, plant and equipment	103M	103M	90M	90M	88M	80M	75M	73M
Goodwill	136M	136M	136M	136M	136M	136M	136M	136M
Total assets	2.08B	2.26B	2.36B	2.48B	1.80B	2.03B	2.05B	1.81B
Current liabilities	361M	469M	417M	312M	239M	298M	259M	524M
Short-term debt	—	—	—	—	—	—	—	224M
Long-term debt	542M	541M	540M	539M	1.11B	1.10B	955M	947M
Total liabilities	1.37B	1.53B	1.42B	1.23B	1.70B	1.74B	1.57B	1.77B
Equity	705M	739M	946M	1.25B	99M	285M	483M	39M
Shares outstanding	217M	214M	213M	211M	182M	179M	179M	167M
Shares issued	217M	214M	213M	211M	182M	179M	179M	167M

Metric	31 Dec 2025	31 Dec 2024
Operating cash flow	−935M	−684M
Depreciation and amortisation	10M	6M
Share-based compensation	153M	97M
Capital expenditure	33M	22M
Investing cash flow	−65M	−583M
Financing cash flow	954M	1.34B