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InspireMD
(NASDAQ:NSPR)
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Rating:45Neutral
Price Target:
$0.64
▼(-65.27% Downside)
Action:Reiterated
Date:06/11/26
The score is held down primarily by heavy ongoing losses and significant cash burn, which increase financing and execution risk. Technicals also remain weak with a broad downtrend despite oversold signals. These are partially offset by strong recent revenue growth and encouraging clinical/regulatory progress, though the U.S. pause/recall and withdrawn guidance temper near-term confidence.
Positive Factors
Revenue Growth & Margin Improvement
Exceptional top-line momentum (+122% YoY in Q1 2026) alongside improving gross margins (GAAP 20.2%, adjusted 34.1%) indicates accelerating product adoption and improving unit economics. If sustained, this trend reduces structural financing pressure and supports scaling commercial investment.
Negative Factors
Severe Cash Burn
Sustained negative operating and free cash flow of roughly -$38.6M and -$40.1M TTM respectively indicate heavy structural cash burn. Without substantial revenue scale or cost rebalancing, the company will need recurring financing, increasing dilution and execution risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Margin Improvement
Exceptional top-line momentum (+122% YoY in Q1 2026) alongside improving gross margins (GAAP 20.2%, adjusted 34.1%) indicates accelerating product adoption and improving unit economics. If sustained, this trend reduces structural financing pressure and supports scaling commercial investment.
Read all positive factors
InspireMD Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down where the company earns sales across countries and regions, showing which markets drive current revenue. For a small medical-device firm like InspireMD, geographic concentration highlights dependence on a few markets, distributors, or regulatory approvals, while expansion into new regions points to commercial traction and growth potential. Also signals exposure to currency moves, local reimbursement and healthcare funding, and where future upside or downside is most likely to occur.
Breaks down where the company earns sales across countries and regions, showing which markets drive current revenue. For a small medical-device firm like InspireMD, geographic concentration highlights dependence on a few markets, distributors, or regulatory approvals, while expansion into new regions points to commercial traction and growth potential. Also signals exposure to currency moves, local reimbursement and healthcare funding, and where future upside or downside is most likely to occur.
Data provided by:
The Fly
The FlyInspireMD (NSPR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$32.74M
Dividend YieldN/A
Average Volume (3M)102.59K
Price to Earnings (P/E)―
Beta (1Y)-0.29
Revenue Growth54.38%
EPS Growth7.25%
CountryUS
Employees85
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-0.57
Shares Outstanding46,838,963
10 Day Avg. Volume68,719
30 Day Avg. Volume102,589
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)2.37
Price to Sales (P/S)14.56
P/FCF Ratio-3.56
Enterprise Value/Market Cap0.80
Enterprise Value/Revenue2.43
Enterprise Value/Gross Profit8.64
Enterprise Value/Ebitda-0.72
Forecast
1Y Price Target
$3.67Price Target Upside99.28% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.74
Revenue Forecast (FY)$12.49M
InspireMD Business Overview & Revenue Model
Company Description
InspireMD, Inc., an Israel-based medical technology company established in 2005, specializes in creating and commercializing advanced medical devices. Its core expertise lies in the proprietary MicroNet stent platform technology, engineered to add...
How the Company Makes Money
InspireMD’s primary revenue model is product-based: it generates revenue by selling its vascular medical devices to healthcare providers (e.g., hospitals and interventional centers) through direct sales and/or distribution partners, depending on t...
InspireMD Earnings Call Summary
Earnings Call Date:May 04, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 11, 2026
Earnings Call Sentiment Neutral
The call presents a mixed picture: strong commercial traction and substantial year-over-year revenue growth (122%), expanding international sales (48% YoY), a large clinical installed base (>70,000 cases), and clear regulatory/clinical pathways (C-GUARDIANS III initiation, expected approvals). Offsetting these positives is a material near-term operational setback — a voluntary U.S. pause/recall of the CGuard Prime 135 delivery system — which led to impairment charges, planned reserves (~$1.35M combined), withdrawal of 2026 revenue guidance, increased operating expenses, and reduced cash versus year-end. Management characterizes the issue as technical (not implant safety), has identified root causes, and expects a path to remediation and relaunch, but timing is uncertain. Overall, the call balances strong growth and long-term opportunity with a meaningful short-term commercial disruption and financial impact.Positive Updates
Clinical Track Record and Physician Demand
CGuard implant used in more than 70,000 cases globally with best-in-class clinical outcomes; management reports strong physician excitement and ongoing demand.
Negative Updates
Voluntary Pause / U.S. Commercial Recall
Company voluntarily paused U.S. commercialization of the CGuard Prime 135 delivery system in coordination with FDA due to technical/physician-experience issues (not stent safety), resulting in no U.S. commercial activity until original CGuard approval.
Read all updates
Q1-2026 Updates
Positive
Negative
Clinical Track Record and Physician Demand
CGuard implant used in more than 70,000 cases globally with best-in-class clinical outcomes; management reports strong physician excitement and ongoing demand.
Read all positive updates
Company Guidance
During the call management withdrew full‑year 2026 revenue guidance and said Q1 was a strong start with revenue of $3.4M (+122% YoY), split $1.2M in the U.S. (36% sequential growth vs. Q4 2025) and $2.2M internationally (+48% YoY, with FX contributing ~11%), gross profit of $0.7M (20.2% of revenue) and adjusted gross profit of $1.2M (34.1% ex‑$473K inventory impairment), total operating expenses of $14.7M (vs. $11.8M a year ago), net loss of $13.7M (‑$0.16/share) vs. $11.2M (‑$0.22/share) prior, cash and marketable securities of $41.6M (down from $54.2M at year‑end 2025), and expected Q2 charges for the U.S. voluntary action of ~ $700K reserve for customer returns plus ~ $650K for inventory impairment/remediation; they expect no U.S. commercial activity until FDA clearance of the original CGuard system anticipated in Q3 2026 (August window), CGuard Prime 80 TCAR clearance in H2 2026 (which could potentially double the U.S. addressable market), and remediation of the Prime 135 delivery system targeted for early 2027 or sooner, while international sales (CGuard used in >70,000 cases globally) and TCAR program progress continue and OpEx is expected to tick slightly higher with R&D spend for the C‑GUARDIANS III trial.InspireMD Financial Statement Overview
Summary
Income Statement
24
Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.85M | 8.98M | 7.01M | 6.21M | 5.17M | 4.50M |
| Gross Profit | 3.04M | 2.65M | 1.51M | 1.81M | 1.12M | 754.00K |
| EBITDA | -36.63M | -48.25M | -31.67M | -19.62M | -18.27M | -14.55M |
| Net Income | -37.33M | -48.79M | -32.01M | -19.92M | -18.49M | -14.92M |
Balance Sheet | ||||||
| Total Assets | 56.47M | 69.40M | 46.81M | 47.64M | 24.65M | 39.71M |
| Cash, Cash Equivalents and Short-Term Investments | 41.57M | 54.21M | 34.64M | 39.02M | 17.80M | 34.04M |
| Total Debt | 3.11M | 3.29M | 2.34M | 1.59M | 1.61M | 1.20M |
| Total Liabilities | 12.85M | 14.20M | 10.72M | 8.14M | 7.26M | 6.18M |
| Stockholders Equity | 43.62M | 55.20M | 36.09M | 39.50M | 17.39M | 33.53M |
Cash Flow | ||||||
| Free Cash Flow | -40.15M | -36.77M | -23.27M | -16.76M | -16.02M | -13.55M |
| Operating Cash Flow | -38.65M | -35.10M | -21.87M | -16.38M | -15.54M | -13.21M |
| Investing Cash Flow | -17.48M | -30.56M | 12.64M | -16.09M | 8.44M | -22.46M |
| Financing Cash Flow | 55.06M | 55.57M | 18.45M | 37.53M | -140.00K | 35.03M |
InspireMD Technical Analysis
Negative
1.84
Price Trends
0.95
Negative
1.29
Negative
1.66
Negative
Market Momentum
-0.08
Negative
37.44
Neutral
46.91
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NSPR, the sentiment is Negative. The current price of 1.84 is above the 20-day moving average (MA) of 0.74, above the 50-day MA of 0.95, and above the 200-day MA of 1.66, indicating a bearish trend. The MACD of -0.08 indicates Negative momentum. The RSI at 37.44 is Neutral, neither overbought nor oversold. The STOCH value of 46.91 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NSPR.
InspireMD Risk Analysis
InspireMD disclosed 45 risk factors in its most recent earnings report. InspireMD reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
InspireMD Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
57 Neutral | $180.22M | -19.32 | -90.62% | ― | 18.22% | 59.78% | |
56 Neutral | $57.91M | 31.28 | 3.68% | ― | -0.32% | ― | |
54 Neutral | $204.37M | -19.46 | -7.74% | ― | -15.41% | 79.57% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $108.66M | -3.15 | -264.04% | ― | ― | 3.54% | |
45 Neutral | $32.74M | -1.23 | -81.52% | ― | 54.38% | 7.25% |
* Healthcare Sector Average
NSPR
InspireMD
0.70
-1.52
-68.51%
ANIK
Anika Therapeutics
15.36
4.55
42.09%
APYX
Apyx Medical
4.30
1.72
66.67%
VANI
Vivani Medical
1.26
-0.01
-0.79%
XTNT
Xtant Medical Holdings
0.41
-0.26
-38.51%
InspireMD Corporate Events
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
InspireMD Reports Strong 30-Day Results From CGUARDIANS II Trial
Positive
Jun 11, 2026
On June 11, 2026, InspireMD reported 30-day outcomes from its CGUARDIANS II clinical trial evaluating the investigational CGuard Prime 80 cm carotid stent for use in TCAR procedures, showing 100% acute device success across 50 patients, with no de...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
InspireMD Shareholders Approve Stock Increase and Board Slate
Positive
Jun 3, 2026
At its annual meeting held on June 3, 2026, InspireMD shareholders re-elected directors Marvin Slosman, Raymond Cohen and Dan Dearen as Class 3 directors to new three-year terms, with a quorum of 73.85% of outstanding shares represented. Stockhold...
Business Operations and StrategyFinancial DisclosuresProduct-Related Announcements
InspireMD Recalls CGuard Prime Delivery System, Pauses U.S. Launch
Negative
May 1, 2026
InspireMD, Inc., a developer of carotid stent systems to prevent stroke, has built its CGuard portfolio around its proprietary MicroNet mesh technology and has recorded strong demand, with global unit sales rising 53% year over year and U.S. unit ...
Business Operations and StrategyPrivate Placements and Financing
InspireMD Establishes New $75 Million ATM Program
Neutral
Apr 3, 2026
On April 3, 2026, InspireMD entered into a new Equity Distribution Agreement with BTIG, LLC to potentially sell up to $75 million of its common stock through at-the-market and negotiated transactions under an existing shelf registration. BTIG will...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.