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Sep 30
Insmed Q3 2025 Earnings Report
Insmed reported significant revenue growth in Q3 2025, driven by the successful launch of BRINSUPRI and strong ARIKAYCE performance across regions.
Key Takeaways
Insmed achieved strong third-quarter financial results with 52% total revenue growth year-over-year, driven by ARIKAYCE expansion and the U.S. launch of BRINSUPRI. The company raised full-year guidance and reported continued clinical and regulatory progress across its pipeline.
Total revenue reached $142.3 million, up 52% from Q3 2024.
ARIKAYCE net sales were $114.3 million globally, with 11% growth in the U.S. and 52% internationally.
BRINSUPRI launched with $28.1 million in U.S. sales in its first quarter.
Net loss widened to $370 million due to increased R&D and SG&A expenses tied to pipeline expansion and launch activities.
Insmed
Insmed
Insmed Revenue by Segment
Insmed Revenue by Geographic Location
Revenue by Segment
ARIKAYCE US Revenue
CapyFin.comARIKAYCE International Revenue
CapyFin.comBRINSUPRI US Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comJapan Revenue
CapyFin.com Forward Guidance
Insmed raised its 2025 global ARIKAYCE revenue guidance to $420–$430 million and outlined key clinical milestones for its expanding pipeline, including upcoming Phase 3 studies and international regulatory submissions.
Positive Outlook
- BRINSUPRI U.S. launch contributed $28.1 million in first quarter.
- ARIKAYCE guidance raised to $420–$430 million for full year 2025.
- Multiple regulatory approvals and filings for BRINSUPRI across the U.S., EU, UK, and Japan.
- Strong international ARIKAYCE growth of 52% YoY.
- Well-capitalized with $1.7 billion in cash and securities.
Challenges Ahead
- Net loss increased to $370 million due to operating expense surge.
- R&D and SG&A costs nearly matched product revenues.
- No specific revenue contribution yet from Europe for BRINSUPRI.
- Continued operating losses raise long-term profitability concerns.
- EPS fell from -$1.27 in Q3 2024 to -$1.75 in Q3 2025.