NASDAQ$INSM

Insmed Incorporated · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Insmed reported first quarter 2021 financial results and provided a business update.

Insmed reported a strong start to 2021, securing approval of ARIKAYCE in Japan, demonstrating steady ARIKAYCE performance in the U.S., and advancing its European launch. The company continues to enroll patients in clinical trials and is working to advance TPIP to Phase 2 clinical development.

  • ARIKAYCE approved in Japan for NTM lung disease caused by MAC.
  • ARIKAYCE European launch underway with commercial sales in Germany and the Netherlands.
  • Enrollment progresses in Phase 3 ASPEN study of Brensocatib in patients with Bronchiectasis and in post-marketing ARISE and ENCORE studies of ARIKAYCE in frontline NTM Lung Disease caused by MAC.
  • Treprostinil Palmitil Inhalation Powder (TPIP) advancing to Phase 2 development in Pulmonary Arterial Hypertension (PAH).

Headline financials

Total Revenue

$40.2M

Previous: $36.9M+9.1%
EPS (adj)

-$0.89

Previous: -$0.74-20.3%
Capital Expenditures

-$1.18M

Previous: -$2.68M+55.9%
Free Cash Flow

-$92.8M

Previous: -$69M-34.4%
Net Income

-$91.6M

Previous: -$66.4M-38.1%
Operating Income

-$83.8M

Previous: -$60.4M-38.9%
Gross Profit

$30.4M

Previous: $28.4M+6.9%
Cash & Equivalents

$410M

Previous: $429M-4.5%
Total Assets

$692M

Previous: $677M+2.3%
Stock-Based Comp

$10.5M

No prior period

Revenue & EPS history

Insmed · Revenue · Quarterly

$40.2M

Q1 2021+9.1%vs Q1 2020
Beat estimate in 9 of 16 quarters(56%)
ActualEstimate

Revenue by segment

Insmed · $73.3M total across 2 segments · Q2 2023

  • ARIKAYCE U.S.
    $57.7M
  • ARIKAYCE International
    $15.6M

Forward guidance

Insmed plans to continue to invest in U.S. commercialization of ARIKAYCE, clinical trial activities, and launch activities for ARIKAYCE in initial European countries and in Japan.

Tailwinds

  • U.S. commercialization of ARIKAYCE
  • Advancement of the frontline clinical trial program for ARIKAYCE (ARISE and ENCORE)
  • Advancement of the Phase 3 ASPEN study of brensocatib in patients with bronchiectasis
  • Advancement of clinical development of TPIP
  • Advancement of our earlier-stage research pipeline

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

-1.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+1.8%

Avg return

30 days after

35%

23 / 65 earnings

Positive

+27.5%

Q2 2022

Best reaction

-23.3%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-23.3%-15.4%-31.3%
Q4 2025+6.3%+5.0%-10.0%
Q3 2025+16.3%+9.5%+24.5%
Q1 2025-4.0%-3.8%+7.8%
Q4 2024-0.3%-7.6%-4.7%
Q3 2024-2.8%-1.4%+6.9%
Q2 2024+4.2%+7.6%+0.1%
Q1 2024-0.1%-2.1%+118.7%
Q4 2023-3.4%+3.5%-6.4%
Q3 2023-6.2%-1.5%-5.6%
Q2 2023+1.0%+1.3%+4.0%
Q1 2023-2.0%-4.4%-1.3%
Q4 2022-3.9%-2.4%-21.2%
Q3 2022-1.1%-1.2%+4.0%
Q2 2022+27.5%+26.6%+12.8%
Q1 2022-9.9%-19.6%-14.5%
Q4 2021-5.2%-6.5%+0.9%
Q3 2021+14.2%+21.3%+9.6%
Q2 2021+3.4%-2.3%+15.1%
Q1 2021+6.7%-11.7%-17.0%
Q4 2020-10.6%-3.9%-13.4%
Q3 2020-6.4%-6.8%+13.1%
Q2 2020+14.8%+7.9%+2.5%
Q1 2020+6.5%+13.4%+15.4%
Q4 2019-11.8%-16.6%-38.0%
Q3 2019+10.4%+16.6%+36.9%
Q2 2019-20.7%-22.5%-25.1%
Q1 2019-11.7%-11.5%-27.8%
Q4 2018+14.3%+17.0%+10.3%
Q3 2018-4.2%+7.2%+15.0%
Q2 2018+5.6%-1.6%-19.5%
Q1 2018+3.9%+2.0%+13.9%
Q4 2017+8.1%-0.8%-11.1%
Q3 2017+10.3%+10.8%+13.9%
Q2 2017-8.6%-17.2%-20.7%
Q1 2017-3.2%-7.4%-15.6%
Q4 2016-1.1%+9.5%+8.7%
Q3 2016-6.7%+0.8%+4.7%
Q2 2016-0.2%+0.3%+13.4%
Q1 2016+0.4%
Q4 2015-2.3%
Q3 2015-20.0%
Q2 2015-2.4%
Q1 2015+5.6%
Q4 2014+3.4%
Q3 2014-0.4%
Q2 2014-9.3%
Q1 2014+5.2%
Q4 2013-7.8%
Q3 2013-1.8%
Q2 2013-2.8%
Q1 2013-5.0%
Q4 2012+5.5%
Q3 2012+4.8%
Q2 2012-6.8%
Q1 2012-19.5%
Q4 2009-0.3%
Q4 2011-0.3%
Q3 2011-3.7%
Q2 2011-4.7%
Q4 2010-4.7%
Q1 2011-6.4%
Q3 2010+4.1%
Q2 2010-1.9%
Q1 2010-12.7%

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