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Inspire Medical Systems
(NYSE:INSP)
Inspire Medical Systems (INSP) vs. SPDR S&P 500 ETF (SPY)
Inspire Medical Systems Business Overview & Revenue Model
Inspire Medical Systems Earnings Call Summary
Inspire Medical Systems Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 882.62M | 802.80M | 624.80M | 407.86M | 233.39M | 115.38M |
| Gross Profit | 749.48M | 679.82M | 528.22M | 341.74M | 200.12M | 97.76M |
| EBITDA | 76.63M | 65.03M | -17.06M | -40.73M | -38.62M | -54.13M |
| Net Income | 44.56M | 53.51M | -21.15M | -44.88M | -42.04M | -57.20M |
Balance Sheet | ||||||
| Total Assets | 807.72M | 808.38M | 676.81M | 564.88M | 295.08M | 281.19M |
| Cash, Cash Equivalents and Short-Term Investments | 322.59M | 445.55M | 460.38M | 451.41M | 214.47M | 234.36M |
| Total Debt | 32.58M | 31.79M | 24.85M | 8.87M | 34.09M | 30.63M |
| Total Liabilities | 141.26M | 118.69M | 104.30M | 68.87M | 66.04M | 51.44M |
| Stockholders Equity | 666.46M | 689.70M | 572.51M | 496.01M | 229.05M | 229.75M |
Cash Flow | ||||||
| Free Cash Flow | 98.82M | 91.12M | 1.02M | 2.47M | -24.79M | -55.50M |
| Operating Cash Flow | 133.69M | 130.25M | 24.65M | 11.57M | -20.12M | -53.05M |
| Investing Cash Flow | 37.13M | -113.12M | -294.82M | -19.60M | 29.14M | 86.63M |
| Financing Cash Flow | -205.28M | -52.39M | 13.95M | 235.08M | 14.95M | 134.06M |
Inspire Medical Systems Technical Analysis
Inspire Medical Systems Risk Analysis
Inspire Medical Systems Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $4.56B | 53.91 | 32.48% | ― | 41.20% | 173.53% | |
71 Outperform | $2.42B | 57.22 | 6.54% | ― | 16.81% | 34.90% | |
61 Neutral | $2.37B | 28.33 | 5.18% | ― | 7.81% | -26.32% | |
58 Neutral | $2.94B | ― | -17.63% | ― | 8.97% | -1024.86% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
41 Neutral | $1.56B | -18.13 | -27.22% | ― | 50.07% | 21.22% | |
40 Underperform | $5.39B | ― | -53.15% | ― | 25.45% | 66.62% |
Inspire Medical Systems Corporate Events
Inspire Medical’s recent earnings call painted a picture of robust growth tempered by rising costs. The company reported strong revenue growth and improved gross margins, largely driven by the successful launch and adoption of Inspire V and positive clinical outcomes. However, these positives were somewhat offset by increased operating expenses and decreased net income compared to the prior year. Despite these challenges, the company remains optimistic, with increased earnings guidance and an improved reimbursement outlook.
Inspire Medical Systems, Inc. is a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea, offering the first FDA-approved neurostimulation therapy of its kind. In the third quarter of 2025, Inspire Medical reported a revenue of $224.5 million, marking a 10% increase from the previous year. The company’s gross margin improved to 85.8%, and it achieved a net income of $9.9 million, with an adjusted net income of $11.2 million. Inspire Medical also completed a $50 million share repurchase and presented positive clinical data for its Inspire V system.
Inspire Medical Systems reported its financial results for the third quarter of 2025, showing a 10% increase in revenue to $224.5 million compared to the previous year. The company achieved a gross margin of 85.8% and a net income of $9.9 million. The Inspire V system, which offers enhanced performance and reduced surgical procedure time, has received positive feedback from clinicians, with over 75% of centers ready to transition to this new system. Inspire reaffirmed its full-year revenue guidance of $900 to $910 million and increased its diluted net income per share guidance to $0.90 to $1.00. The company completed a $50 million share repurchase and presented clinical evidence of the Inspire V system’s efficacy at industry meetings.
The most recent analyst rating on (INSP) stock is a Hold with a $77.00 price target. To see the full list of analyst forecasts on Inspire Medical Systems stock, see the INSP Stock Forecast page.
Study Overview: The EURO-STIM Registry, officially titled ‘Longitudinal Outcomes and Adherence of the Inspire System, EURO-STIM Registry,’ aims to measure the long-term outcomes and adherence of the Inspire System in patients with Obstructive Sleep Apnea (OSA). This study is significant as it seeks to capture the life cycle of the patient’s use of the Inspire System through routine clinical care visits, providing valuable insights into its effectiveness and patient adherence over time.
Inspire Medical Systems, Inc. is conducting a significant clinical study titled ‘Inspire UAS High AHI/High BMI Post-Approval Study.’ The study aims to evaluate the long-term safety and effectiveness of the Inspire® UAS System in patients with obstructive sleep apnea (OSA) who have a higher Apnea Hypopnea Index (AHI) and Body Mass Index (BMI). This research is crucial as it expands the patient population for this treatment, potentially offering new hope for those with severe OSA conditions.
Study Overview: The Inspire Pediatric Post-Approval Registry aims to evaluate the long-term safety and effectiveness of the Inspire Upper Airway Stimulation (UAS) System in pediatric patients aged 18-21 years with moderate to severe obstructive sleep apnea (OSA). This multi-center, single-arm study is significant as it seeks to provide critical data on the system’s performance over a five-year period post-implant.
Inspire Medical Systems, Inc. has launched the Pediatric Down Syndrome Post-Approval Study to evaluate the safety and effectiveness of the Inspire therapy in adolescents and young adults with Down syndrome and severe sleep apnea. This study aims to provide ongoing assessments of the Inspire UAS System in this specific population, highlighting its significance in improving patient outcomes.
In October 2025, Inspire Medical Systems published clinical outcomes data for their Inspire V system at the ISSS/AAO-HNS meetings in Indianapolis. The data, from a Singapore study and a limited U.S. market release, showed significant improvements in patient adherence, safety, and surgical efficiency compared to previous models. The Inspire V system demonstrated a 20% reduction in surgical times and superior respiratory sensing, leading to enhanced patient comfort and therapy outcomes. The results indicate a promising advancement in treating obstructive sleep apnea, with implications for increased adoption and potential changes in reimbursement levels.
The most recent analyst rating on (INSP) stock is a Buy with a $125.00 price target. To see the full list of analyst forecasts on Inspire Medical Systems stock, see the INSP Stock Forecast page.
Inspire Medical Systems announced that its Chief Financial Officer, Richard J. Buchholz, will step down from his position effective December 31, 2025, to pursue other professional opportunities. Buchholz will remain in a financial advisory role until February 28, 2026, to ensure a smooth transition. The company has initiated a search for a new CFO and reaffirmed its 2025 financial guidance with expected revenues between $900 to $910 million. Buchholz has been instrumental in the company’s growth, contributing to its revenue increase from $4 million to over $800 million in 2024 and guiding it through its IPO and the challenges of the COVID-19 pandemic.
The most recent analyst rating on (INSP) stock is a Hold with a $97.00 price target. To see the full list of analyst forecasts on Inspire Medical Systems stock, see the INSP Stock Forecast page.
On August 11, 2025, Inspire Medical Systems announced that its Board of Directors authorized a share repurchase program of up to $200 million. This decision reflects the company’s confidence in its growth prospects and the belief that its stock is undervalued. The repurchase program is part of a broader strategy to support the launch of Inspire V, their next-generation neurostimulation system, and to return capital to shareholders while continuing to invest in future growth.
The most recent analyst rating on (INSP) stock is a Hold with a $200.00 price target. To see the full list of analyst forecasts on Inspire Medical Systems stock, see the INSP Stock Forecast page.
The recent earnings call for Inspire Medical Systems presented a mixed sentiment, highlighting significant revenue growth and promising advancements in the Inspire V system. However, these positive developments were somewhat overshadowed by challenges in executing the transition to the new system and a reduction in financial guidance.
Inspire Medical Systems, Inc. is a medical technology company that specializes in developing and commercializing innovative, minimally invasive solutions for patients with obstructive sleep apnea. The company’s proprietary Inspire therapy is the first FDA-approved neurostimulation technology for treating moderate to severe obstructive sleep apnea.