Flagship explainer

How INSMED INCORPORATED makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$606M · 100%Cost of revenue$123M · 20%Gross profit$483M · 80%Operating income−$1.2B · −206%Income before tax−$1.3B · −210%Income tax$5M · 1%Net income−$1.3B · −211%As of 2025-12-31 · 2 SEC filing sourcesBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$606M100%
Cost of revenue$123M20%
$483M80%
−$1.2B−206%
Income before tax−$1.3B−210%
Income tax$5M1%
−$1.3B−211%
Source: · event Dec 31, 2025 · retrieved Jul 26, 2026 · annual-row source set
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