INSP
Inspire Medical Systems, Inc.115.51
-3.75-3.14%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
10-11% 2026 growth preview
Q&A surfaced an early 10-11% 2026 revenue growth preview, accelerating from Q3's pace while navigating IV-to-V inventory shifts and GLP-1 trialing, though below consensus. Management clarified most centers hit 75% V adoption, with majority inventory now V and transition nearing completion by year-end—but some stick to discounted IV for site economics. A new team reengages low-volume ENTs using V's chest-lead-free implant. GLP-1s expand funnel via CPAP combos, funneling failures to Inspire. Competition barely registers yet. V inventory dominates now. Confident tone; eyes on Q4 seasonality, January guide.
Key Stats
Market Cap
3.42BP/E (TTM)
79.12Basic EPS (TTM)
1.46Dividend Yield
0%Recent Filings
8-K
Releases tax valuation allowance
Inspire Medical Systems expects to release a significant portion of its U.S. deferred tax asset valuation allowance in Q4 2025, generating a $90 million to $100 million income tax benefit. This will boost diluted EPS by $3.00 to $3.30 for the year. Non-cash win. Forward-looking estimates carry execution risks per SEC filings.
10-Q
Q3 FY2025 results
Inspire Medical posted Q3 revenue of $224.5M, up 10.5% y/y from $203.2M but down q/q (derived), with gross margin expanding to 85.8% from 84.1% thanks to higher-volume Inspire V sales. Operating income dipped to $9.6M from $14.3M as SG&A jumped 21.8% on advertising and headcount, while diluted EPS fell to $0.34 from $0.60 amid 29.6M shares. Cash from operations hit $64.5M YTD; liquidity strong at $411M in cash and investments, yet share repurchases totaled $125M YTD. Revenue consistent with 29.9M diluted shares. Patients delaying for Inspire V rollout. Competition from rivals like Nyxoah looms.
8-K
Q3 revenue up 10%, EPS guidance raised
Inspire Medical Systems posted Q3 revenue of $224.5 million, up 10% year-over-year, with gross margin expanding to 85.8% on higher Inspire V sales mix. Net income hit $9.9 million despite 17% operating expense growth from marketing and $1.3 million litigation costs. Inspire V implants succeeded 100% in trials, slashing procedure time 20%. Company holds 2025 revenue guidance at $900-910 million but lifts diluted EPS to $0.90-$1.00.
8-K
Inspire V data excels
Inspire Medical Systems published strong Inspire V clinical data at ISSS/AAO-HNS meetings, showing superior sensing (87.1% IPOP vs 79.4% for Inspire IV), 20% faster implants, and high adherence at 5.5 hours/night in Singapore's 44-patient study; U.S. limited release in 101 patients hit 6.8 hours/night usage with AHI dropping from 30 to 4.5. Procedures succeeded 100% with minimal adverse events. Data submission planned post-six months.
8-K
CFO Buchholz to step down
Inspire Medical Systems' CFO Richard J. Buchholz steps down August 22, 2025, to pursue other opportunities, with no disputes involved. He'll serve as principal financial officer until December 31, 2025, or a successor's start, then advise through February 28, 2026, receiving $358,500 severance and COBRA coverage. The company launched a search for a replacement. Inspire reaffirms 2025 guidance: revenue $900-910 million, gross margin 84-86%, diluted EPS $0.40-0.50. Leadership transitions test continuity amid growth.
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