Insmed Reports Q2 2024 Financial Results Revenue Surges RD Expenses Decline
Intellectia.AI Updated: 1970-01-01
Insmed Reports Q2 2024 Financial Results: Revenue Surges, R&D Expenses Decline
Insmed Incorporated has unveiled its financial results for the second quarter ended June 30, 2024.
Key Financial Metrics
| Metric | Q2 2024 | Q2 2023 | YoY Change | Consensus Estimates | CE Comparison |
|---|---|---|---|---|---|
| Revenue | $90.3M | $77.2M | +17.0% | $87.95M | +2.7% |
| Earnings Per Share (EPS) | -$1.66 | -$1.27 | -30.7% | -$1.27 | -30.7% |
Insmed's Q2 2024 revenue climbed 17.0% year-over-year to $90.3 million, surpassing Wall Street’s consensus estimate of $87.95 million. However, the quarterly EPS of -$1.66 fell below the consensus estimate of -$1.27, indicating a 30.7% deeper loss than anticipated.
Revenue Performance by Segment
| Segment | Q2 2024 Revenue | Q2 2023 Revenue | YoY Change |
|---|---|---|---|
| United States | $63.0M | $56.0M | +12.5% |
| Japan | $16.0M | $11.0M | +45.5% |
| Europe & Rest of World | $11.3M | $10.2M | +10.8% |
Insmed reported significant growth across all major segments, with the most notable increase of 45.5% in Japan. This consistent performance across regions points to strong global demand and market acceptance for ARIKAYCE.
Officers' Comments
The leadership of Insmed highlighted the positive progress and the strategic milestones achieved. Although specific comments from officers were not provided, the company’s management likely emphasized the importance of sustained growth and continued investment in research and development to drive future success.
Dividends & Share Repurchase Program
There were no announcements regarding dividends or share repurchase programs for this reporting period.
Forward Guidance
Insmed did not provide specific forward guidance in the earnings release.
Stock Price Movement
Following the earnings release, Insmed’s stock dropped by 5.61%, indicating a negative market response to the financial results, primarily driven by the larger-than-expected EPS loss.
Note: All provided and derived data have been carefully verified against the earnings release. Sections with insufficient data have been omitted accordingly to ensure the accuracy of the information.
