| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 425.49 | 39.1% | 296.1% |
| Total Income | 425.49 | 39.1% | 296.1% |
| Expenditure | 427.03 | 7.0% | 1.6% |
| PBT | -11.37 | 93.0% | 96.5% |
| Net Profit | -13.24 | 91.9% | 95.9% |
| OPM | -0.36% | 49.75pp | |
| NPM | -3.11% | 50.35pp | |
| EPS | -0.06 | 92.1% | 96.5% |
Insmed Reports Q2 2026 Financial Results, Raises Guidance and Peak Revenue Estimates
06 Aug 2026 · 6 Aug, 4:37 pm
Summary
Insmed Incorporated reported strong second-quarter 2026 financial results, with total revenues surging to $425.5 million, a 296% increase year-over-year, driven by significant growth in BRINSUPRI and ARIKAYCE. BRINSUPRI revenues alone reached $309.2 million, up 49% sequentially, while ARIKAYCE contributed $116.3 million, an 8% increase year-over-year. The company has raised its full-year 2026 BRINSUPRI revenue guidance to $1.25 billion-$1.40 billion and increased its peak revenue estimate for its three lead programs to over $14 billion. Despite a net loss of $13.2 million in the quarter, this represents a substantial improvement from the prior year's loss, and the company ended the quarter with approximately $1.2 billion in cash, cash equivalents, and marketable securities.
Key Highlights
- 1
Total company revenues reached $425.5 million for the second quarter of 2026, representing a 296% increase compared to the second quarter of 2025.
- 2
BRINSUPRI® revenues were $309.2 million for the second quarter of 2026, reflecting a 49% growth over the first quarter of 2026.
- 3
ARIKAYCE® revenues were $116.3 million for the second quarter of 2026, showing an 8% growth over the second quarter of 2025.
- 4
The company raised its full-year 2026 BRINSUPRI revenue guidance to a range of $1.25 billion to $1.40 billion.
- 5
Insmed raised its peak revenue estimate for its three lead programs to more than $14 billion total, with BRINSUPRI projected at over $7 billion and TPIP at over $6 billion.
- 6
The company reported a net loss of $13.2 million, or $0.06 per share, for the second quarter of 2026, an improvement from a net loss of $321.7 million, or $1.70 per share, in the second quarter of 2025.
- 7
As of June 30, 2026, Insmed had cash, cash equivalents, and marketable securities totaling approximately $1.2 billion.
Management Comments
Will Lewis
Our team delivered tremendous results in the second quarter of the year, reflecting our operational excellence and positioning for the future. The U.S. BRINSUPRI launch continues to be met with significant enthusiasm and demand from patients and physicians. Additionally, we were pleased to report positive data from our ongoing open-label extension study of TPIP in PAH, reinforcing TPIP’s potential to become the prostanoid of choice. Looking ahead, our focus is on building upon the early success of the BRINSUPRI launch, preparing to execute on the potential ARIKAYCE label expansion in the U.S. and Japan, progressing our Phase 3 TPIP programs across four large indications, and advancing our multiple early-stage pipeline candidates. As a result of our team’s significant efforts, we are raising our peak revenue estimates for both BRINSUPRI and TPIP. We now expect that our three lead programs will generate more than $14 billion in combined peak sales. This ambitious yet achievable objective reflects our team's proven ability to execute and the opportunity to improve the lives of hundreds of thousands of patients worldwide. Strong Second-Quarter Revenue Results Increase Confidence to Raise Full-Year 2026 Guidance All Monitored Launch Metrics Continue to Track Ahead of Our Expectations Executing Commercially While Preparing for Label Expansion in the U.S. & Japan Positive OLE Study Results in PAH Reinforce TPIP’s Potential to Become the Prostanoid of Choice
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