Welcome to our dedicated page for Inspire Medical Systems news (Ticker: INSP), a resource for investors and traders seeking the latest updates and insights on Inspire Medical Systems stock.
Inspire Medical Systems, Inc. (INSP) is a pioneering medical technology company headquartered in Maple Grove, Minnesota. Specializing in the development and commercialization of innovative, minimally invasive solutions, Inspire focuses on providing effective treatments for patients with obstructive sleep apnea (OSA). The company's flagship product, the Inspire system, is a revolutionary neurostimulation technology designed to safely and effectively treat moderate to severe OSA.
Inspire operates primarily across the United States and Europe, with the bulk of its revenue generated from the U.S. market. The company has seen significant growth, reporting a 65% increase in year-over-year revenue for the second quarter of 2023, reaching $151.1 million. This growth is attributed to increased utilization at existing sites, the addition of 72 new implanting centers, and 19 new U.S. sales territories.
In recent business highlights, Inspire has achieved several key milestones. These include the submission of the Inspire V neurostimulation PMA supplement application to the FDA and receiving two critical FDA approvals which expand the upper limit of the Apnea-Hypopnea Index (AHI) to 100 events per hour from 65 and raise the BMI warning in the labeling to 40 from 32. Additionally, Inspire received approval for its SleepSync™ physician programmer. These advancements are expected to enhance the company’s product offerings and market reach.
Financially, Inspire ended the second quarter of 2023 with a gross margin of 83.9% and operating expenses of $143.4 million, reflecting ongoing investments in U.S. sales expansion, direct-to-patient marketing, and product development. Despite a net loss of $12.0 million for the quarter, this marks an improvement from the $14.5 million loss in the same period the prior year.
Looking ahead, Inspire has increased its full-year 2023 revenue guidance to between $600 million and $610 million, reflecting a growth of 47% to 50% over the previous year. The company is committed to opening new medical centers and expanding its U.S. territories, anticipating sustained organic growth driven by its innovative therapies and strengthened leadership team.
For current updates and detailed information about Inspire Medical Systems, visit inspiresleep.com.
Presidio Medical has appointed Richard J. Buchholz to its Board of Directors. Buchholz currently serves as Chief Financial Officer of Inspire Medical Systems (NYSE: INSP), where he has been instrumental in driving strategic financial and operational growth.
With extensive experience in healthcare finance, including previous CFO roles at superDimension and Vascular Solutions, Buchholz brings valuable expertise to Presidio Medical, a clinical stage company developing neuromodulation platforms. The appointment aligns with Presidio's strategy to strengthen its leadership team as it advances through key growth and development stages.
Inspire Medical Systems (NYSE: INSP), a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea, has announced its participation in the Piper Sandler 36th Annual Healthcare Conference. The presentation is scheduled for Tuesday, December 3, 2024, at 12:00 p.m. Eastern Time. Interested parties can access the presentation through a live webcast, with replays available for two weeks afterward on the company's investor website at investors.inspiresleep.com.
Inspire Medical Systems (NYSE: INSP), a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea, has announced its participation in the Jefferies London Healthcare Conference. The presentation is scheduled for Wednesday, November 20, 2024, at 7:30 a.m. Eastern Time. Interested parties can access the presentation through a live webcast, with replays available for two weeks afterward on the company's investor website at investors.inspiresleep.com.
Inspire Medical Systems has initiated a $75 million accelerated share repurchase (ASR) program with Goldman Sachs, as part of its previously announced $150 million share repurchase authorization. The ASR transaction is scheduled to conclude in Q1 2025. The company's decision reflects confidence in its long-term growth potential, supported by strong revenue and earnings growth. The broader repurchase program, set to expire on August 5, 2026, allows for flexible implementation through various transaction methods and can be modified or discontinued at the company's discretion.
Inspire Medical Systems (NYSE: INSP), a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea, has announced its participation in the Jefferies London Healthcare Conference. The presentation is scheduled for Wednesday, November 20, 2024, at 11:00 a.m. Eastern Time. Interested parties can access the presentation through a live webcast, with replay availability for two weeks afterward on the company's investor website at investors.inspiresleep.com.
Inspire Medical Systems reported strong Q3 2024 financial results with revenue of $203.2 million, up 33% year-over-year. The company achieved a gross margin of 84.1% and generated operating income of $14.3 million. Earnings per share reached $0.60, compared to a loss of $0.29 in the prior year period.
The company activated 66 new U.S. centers and created 13 new sales territories, bringing totals to 1,371 centers and 323 territories. Based on strong performance, Inspire raised its full-year 2024 revenue guidance to $793-798 million and increased EPS guidance to $1.20-1.40.
Inspire Medical Systems (NYSE: INSP) announced its upcoming participation in the UBS Global Healthcare Conference. The medical technology company, which specializes in minimally invasive solutions for obstructive sleep apnea, will present on Wednesday, November 13, 2024, at 11:00 a.m. Eastern Time.
The presentation will be available through a live webcast, with replay access remaining available for two weeks afterward in the Event Archive section of Inspire's Investor website.
Inspire Medical Systems, Inc. (NYSE: INSP) has announced it will release its third quarter 2024 financial results after the market closes on Monday, November 4, 2024. The company's management team will host a conference call at 5:00 p.m. Eastern Time to discuss the financial results and recent business developments.
Investors can access the earnings call webcast through the Investor Relations page of Inspire's website or via a provided link. Those planning to ask questions during the call should register using a separate link. Registration is recommended at least 10 minutes before the call starts. A replay of the call will be available on the company's Investor Relations website approximately two hours after the event and will be archived for two weeks.
Inspire Medical Systems, Inc. (NYSE: INSP), a medical technology company specializing in minimally invasive solutions for obstructive sleep apnea, has announced its participation in two upcoming investor conferences. The company will present at the Morgan Stanley 22nd Annual Global Healthcare Conference at 7:00 a.m. Eastern Time and the Wells Fargo 2024 Healthcare Conference at 3:00 p.m. Eastern Time, both on September 4, 2024.
Both presentations will be accessible via live webcasts, with links provided for each event. Replays of the presentations will be available for two weeks following the events in the Event Archive section of Inspire's Investor website at https://investors.inspiresleep.com.
Inspire Medical Systems, Inc. (NYSE: INSP) reported strong Q2 2024 financial results, with revenue growing 30% year-over-year to $195.9 million. The company achieved a gross margin of 84.8% and generated $5.1 million in operating income. Earnings per share reached $0.32. Inspire activated 81 new U.S. centers and created 12 new sales territories. The company received CE Mark Certification under EU MDR, countrywide reimbursement in France, and FDA approval for the Inspire V neurostimulation system. Based on strong performance, Inspire increased its full-year 2024 revenue guidance to $788-$798 million (26-28% growth) and raised EPS guidance to $0.60-$0.80.
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