InspireMD (NSPR) AI Stock Analysis

• Market Cap: $80.03M
• Dividend Yield: N/A
• Average Volume (3M): 102.59K
• Price to Earnings (P/E): ―
• Beta (1Y): -0.12
• Revenue Growth: 14.04%
• EPS Growth: -0.65%
• Country: US
• Employees: 85
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.14
• Shares Outstanding: 46,801,560
• 10 Day Avg. Volume: 68,719
• 30 Day Avg. Volume: 102,589
• PEG Ratio: 0.00
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.84
• Enterprise Value/Revenue: 7.51
• Enterprise Value/Gross Profit: 25.46
• Enterprise Value/Ebitda: -1.38
• 1Y Price Target: $5.50
• Price Target Upside: 198.91% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2
• EPS Forecast (FY): -0.79
• Revenue Forecast (FY): $14.55M

• Rating: 49 Neutral
• Price Target: $2.00 ▲(8.70% Upside)
• Action: Reiterated Date: 03/19/26
• Date: Action: Reiterated 03/19/26

The score is held down mainly by weak financial quality—large operating losses and materially negative cash flow despite revenue growth and improving margins. Technicals are mixed (minor near-term improvement but still below longer-term averages), valuation support is limited based on the provided P/E and lack of dividend yield, while the earnings call adds a modest positive tilt due to U.S. launch-driven growth and guidance despite higher spending and ongoing losses.

Positive Factors

Sustained revenue growth and improving gross margins

Steady multi-year revenue growth with meaningful gross margin improvement indicates product adoption gains and improving unit economics. This durable trend supports scaling benefits: higher volumes can more sustainably absorb fixed costs and improve long-term profitability if current margin trajectory continues.

U.S. commercial launch expands addressable market

FDA approval and initial U.S. sales establish entry into the large U.S. carotid stent market, materially increasing addressable market and commercial upside. Durable impact: ongoing U.S. commercialization can drive sustained revenue growth, pricing mix improvement, and clinical adoption over the next several quarters.

Low leverage and materially strengthened equity base

A strong equity base and minimal debt provide financial flexibility to fund commercialization and trials without near-term solvency pressure. This structural balance-sheet strength reduces refinancing risk and supports multi-quarter investments in sales, trials, and regulatory work.

Negative Factors

Consistent negative operating and free cash flow

Large, persistent cash burn means the business depends on external financing to sustain growth and commercialization. Over a multi-quarter horizon this increases dilution and execution risk if capital markets tighten, and it limits the firm's ability to self-fund expansion or absorb shocks.

Large and widening operating losses

Ongoing large operating losses show the cost base is rising faster than operating leverage from revenue. This structural mismatch threatens sustainable profitability and return on invested capital unless revenue scale or operating efficiency materially improves.

COO departure creates operational continuity risk

A planned senior operations exit during a crucial commercialization phase can disrupt European operations and handoffs. Six-month notice and transitional obligations may distract management and complicate execution on sales, distribution, and regulatory tasks over the coming quarters.

InspireMD Business Overview & Revenue Model

Company Description

InspireMD, Inc., a medical device company, focuses on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of vascular and coronary diseases in Europe, Latin America, the Middle East, and Asia Pacific. The company offers CGuard carotid embolic prevention system for use in carotid artery applications; and MGuard Prime embolic protection systems for use in patients with acute coronary syndromes, notably acute myocardial infarction, and saphenous vein graft coronary interventions, as well as bypass surgery. It is also developing PVGuard, a MicroNet mesh sleeve and self-expandable stent for use in peripheral vascular applications. The company sells its products through local distributors. InspireMD, Inc. was founded in 2005 and is headquartered in Tel Aviv-Yafo, Israel.

How the Company Makes Money

InspireMD’s primary monetization model is selling its medical device products (carotid stent systems and related accessories, if applicable) to healthcare providers and/or through distribution channels, generating revenue when products are purchased for use in carotid artery interventions. Revenue is typically driven by unit sales volume, pricing per device, and the breadth of commercialization (e.g., the number of hospitals/clinics and geographies where the products are available). If the company uses distributors or commercial partners in certain regions, it may generate revenue through sales to those partners (who then resell to hospitals), which can affect gross-to-net pricing and margins. Detailed breakdowns of key revenue streams, specific pricing, and named significant partnerships are null.

InspireMD Financial Statement Overview

Summary

Revenue growth and improving gross margins are positives, and leverage is low with a stronger equity base. However, large and widening operating losses plus persistently deep negative operating/free cash flow dominate the profile and raise ongoing funding/execution risk.

Income Statement

Revenue has grown steadily over the last several years (from ~$2.5M in 2020 to ~$9.0M in 2025), and gross margin improved meaningfully versus earlier years, reaching ~29.5% in 2025. However, profitability remains very weak: operating losses are large and widening (EBIT fell from about -$10.4M in 2020 to about -$49.6M in 2025), implying a cost structure that is not scaling with revenue. Net income shows a sharp swing to a small profit in 2025 (~$0.9M) after multiple years of heavy losses, but this improvement is not supported by operating earnings in the same period, which raises quality/sustainability concerns.

Balance Sheet

Leverage appears low, with debt-to-equity generally modest (around ~0.04 in 2025) and total debt only ~$2.2M against equity of ~$55.2M. The equity base has strengthened materially versus 2024 (equity up from ~$36.1M to ~$55.2M), supporting financial flexibility. The main weakness is returns: return on equity was deeply negative in most years due to losses and only slightly positive in 2025 (~1.6%), reflecting limited value creation so far.

Cash Flow

Cash generation is a clear pressure point. Operating cash flow is consistently negative and worsening (about -$9.1M in 2020 to about -$35.1M in 2025), and free cash flow is also deeply negative (about -$36.8M in 2025). While 2025 shows positive net income, cash flow remains strongly negative, suggesting earnings are not converting into cash and the business likely depends on external funding to sustain operations and growth.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	8.98M	7.01M	6.21M	5.17M	4.50M
Gross Profit	2.65M	1.51M	1.81M	1.12M	754.00K
EBITDA	-49.61M	-33.22M	-20.91M	-18.52M	-14.55M
Net Income	891.00K	-32.01M	-19.92M	-18.49M	-14.92M
Balance Sheet
Total Assets	69.40M	46.81M	47.64M	24.65M	39.71M
Cash, Cash Equivalents and Short-Term Investments	54.21M	34.64M	39.02M	17.80M	34.04M
Total Debt	2.22M	2.34M	1.59M	1.61M	1.20M
Total Liabilities	3.49M	10.72M	8.14M	7.26M	6.18M
Stockholders Equity	55.20M	36.09M	39.50M	17.39M	33.53M
Cash Flow
Free Cash Flow	-36.77M	-23.27M	-16.76M	-16.02M	-13.55M
Operating Cash Flow	-35.10M	-21.87M	-16.38M	-15.54M	-13.21M
Investing Cash Flow	-30.56M	12.64M	-16.09M	8.44M	-22.46M
Financing Cash Flow	55.57M	18.45M	37.53M	-140.00K	35.03M

InspireMD Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.84
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 1.73, above the 50-day MA of 1.70, and below the 200-day MA of 2.13, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 49.68 is Neutral, neither overbought nor oversold. The STOCH value of 52.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for NSPR.

InspireMD Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
XTNT	66 Neutral	$82.46M	17.28	3.77%	―	16.88%	―
ANIK	60 Neutral	$190.02M	-12.67	-7.42%	―	-31.29%	65.68%
EDAP	54 Neutral	$142.09M	-3.64	-62.07%	―	―	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
APYX	51 Neutral	$147.66M	-13.16	-117.54%	―	-1.32%	55.62%
VANI	50 Neutral	$83.90M	-3.22	-293.64%	―	―	-0.27%
NSPR	49 Neutral	$80.03M	―	2.12%	―	14.04%	-0.65%

InspireMD Corporate Events

InspireMD Reports Strong Q4 2025 Growth and Expansion

InspireMD, Inc., a developer of the CGuard Prime carotid stent system for stroke prevention, reported fourth quarter and full-year 2025 results on March 18, 2026, highlighting strong top-line growth driven by its U.S. launch and expanding international demand. Revenue rose 62% year-over-year in the fourth quarter to $3.1 million, with U.S. sales reaching $0.9 million in only the second quarter of CGuard Prime’s commercial rollout, while gross margin improved to 37.5% on a richer U.S. mix but higher commercial investments pushed the quarterly net loss to $11.8 million.

For full-year 2025, revenue increased 28% to $9.0 million, including $1.4 million from the nascent U.S. business and $7.6 million from international markets, as gross profit nearly doubled and cash and marketable securities rose to $54.2 million by year-end. Operationally, the company completed enrollment in its CGUARDIANS II pivotal trial for use of CGuard Prime in TCAR procedures, submitted a supplemental premarket approval application to the FDA for that indication, and reported supporting over 500 cumulative carotid procedures since launch, moves that underscore its bid to expand its addressable market and strengthen its position in carotid stenting.

The most recent analyst rating on (NSPR) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on InspireMD stock, see the NSPR Stock Forecast page.

InspireMD Announces Planned Departure of Chief Operating Officer

On February 27, 2026, InspireMD, Inc. issued a dismissal notice to Chief Operating Officer Andrea Tommasoli, who has been employed under a French law-governed contract with its subsidiary since November 2, 2020. His employment termination is subject to a six-month notice period and applicable French labor laws, reflecting the company’s need to manage executive changes within a tightly regulated European employment framework.

Tommasoli was released from his operational duties effective April 1, 2026, but will continue to receive base salary through the end of the notice period, along with health and provident benefits for up to 12 months under French law. He is also entitled to approximately €61,000 in severance and payment for accrued, unused leave, with his final working day expected on September 1, 2026, signaling a planned leadership transition that may influence the company’s operational oversight in Europe.

The most recent analyst rating on (NSPR) stock is a Buy with a $5.00 price target. To see the full list of analyst forecasts on InspireMD stock, see the NSPR Stock Forecast page.