Inspire Medical Systems, Inc. Announces $75 million Accelerated Share Repurchase Program
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 ha avviato un programma di riacquisto accelerato di azioni (ASR) del valore di 75 milioni di dollari con Goldman Sachs, come parte della sua autorizzazione al riacquisto di azioni da 150 milioni di dollari già annunciata in precedenza. La transazione ASR è prevista per concludersi nel primo trimestre del 2025. La decisione dell'azienda riflette fiducia nel suo potenziale di crescita a lungo termine, supportato da solidi aumenti di fatturato e utili. Il programma di riacquisto più ampio, che scade il 5 agosto 2026, consente un'attuazione flessibile attraverso vari metodi di transazione e può essere modificato o interrotto a discrezione dell'azienda.
Inspire Medical Systems ha iniciado un programa de recompra acelerada de acciones (ASR) por un valor de 75 millones de dólares con Goldman Sachs, como parte de su autorización de recompra de acciones de 150 millones de dólares previamente anunciada. La transacción ASR está programada para concluir en el primer trimestre de 2025. La decisión de la empresa refleja confianza en su potencial de crecimiento a largo plazo, respaldada por un sólido crecimiento en ingresos y ganancias. El programa de recompra más amplio, que vence el 5 de agosto de 2026, permite una implementación flexible a través de varios métodos de transacción y puede ser modificado o interrumpido a discreción de la empresa.
Inspire Medical Systems는 곧 7,500만 달러 규모의 가속화된 자사주 매입(ASR) 프로그램을 Goldman Sachs와 함께 시작했습니다. 이는 이전에 발표된 1억 5천만 달러의 자사주 매입 승인 중 하나입니다. ASR 거래는 2025년 1분기까지 완료될 예정입니다. 회사의 결정은 안정적인 수익 및 이익 성장으로 뒷받침되는 장기 성장 잠재력에 대한 신뢰를 반영합니다. 2026년 8월 5일 만료될 계획인 더 넓은 매입 프로그램은 다양한 거래 방법을 통해 유연한 시행이 가능하며 회사의 재량에 따라 수정하거나 중단할 수 있습니다.
Inspire Medical Systems a lancé un programme de rachat d'actions accéléré (ASR) de 75 millions de dollars avec Goldman Sachs, dans le cadre de son autorisation de rachat d'actions de 150 millions de dollars précédemment annoncée. La transaction ASR devrait se conclure au premier trimestre de 2025. La décision de l'entreprise reflète la confiance dans son potentiel de croissance à long terme, soutenue par une forte croissance des revenus et des bénéfices. Le programme de rachat plus large, qui doit expirer le 5 août 2026, permet une mise en œuvre flexible par le biais de diverses méthodes de transaction et peut être modifié ou arrêté à la discrétion de l'entreprise.
Inspire Medical Systems hat ein beschleunigtes Aktienrückkaufprogramm (ASR) im Umfang von 75 Millionen Dollar mit Goldman Sachs gestartet, als Teil der zuvor angekündigten Genehmigung zum Aktienrückkauf in Höhe von 150 Millionen Dollar. Die ASR-Transaktion soll im ersten Quartal 2025 abgeschlossen sein. Die Entscheidung des Unternehmens spiegelt das Vertrauen in sein langfristiges Wachstumspotential wider, das durch starkes Umsatz- und Gewinnwachstum unterstützt wird. Das breitere Rückkaufsprogramm, das am 5. August 2026 ausläuft, ermöglicht eine flexible Umsetzung durch verschiedene Transaktionsmethoden und kann nach Ermessen des Unternehmens geändert oder eingestellt werden.
- Implementation of $75M accelerated share repurchase program
- Strong revenue and earnings growth profile
- Positive cash generation expectations
- Flexible $150M total share repurchase authorization through 2026
- Significant cash outlay of $75M reducing available capital for operations
Insights
The
- The accelerated nature of the buyback suggests management views current stock valuation as attractive
- The company maintains flexibility with the remaining
$75 million authorization through 2026 - The program demonstrates financial strength while balancing growth investments
The structured agreement with Goldman Sachs provides execution certainty and potentially more favorable pricing compared to open market purchases. This move could provide near-term support for the stock price while reflecting management's commitment to shareholder returns alongside their growth strategy.
MINNEAPOLIS, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (“Inspire,” or the “Company”), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today announced that it entered into an accelerated share repurchase (“ASR”) transaction under an agreement with Goldman Sachs & Co. LLC, to repurchase an aggregate of
“Entering into this ASR reflects our confidence in our long-term growth potential, underpinned by our strong revenue and earnings growth profile and our expectations for our future cash generation,” said Tim Herbert, Chairman and CEO of Inspire. “We remain committed to invest in our future growth while simultaneously enhancing stockholder value through a disciplined capital allocation strategy, which may include future opportunistic share repurchases.”
The ASR transaction is scheduled to terminate in the first quarter of 2025.
In determining the amount of capital to allocate to share repurchases, the Company considers, among other things, its historical and expected business performance and cash and liquidity position, as well as global economic and market conditions and the market price of the Company’s common stock. The timing, manner, price, and amount of any repurchases under the share repurchase program are determined by the Company in its discretion. Purchases may be effected through open market transactions, privately negotiated transactions, transactions structured through investment banking institutions, or other means. The Company is not obligated to repurchase any specific number of shares and the program may be modified, suspended, or discontinued at any time. The share repurchase program will expire on August 5, 2026, subject to the earlier termination or extension by the Board, in its sole discretion and without prior notice, or until such time that the funds designated for the stock repurchase program are depleted.
About Inspire Medical Systems
Inspire is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea. Inspire’s proprietary Inspire therapy is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology of its kind that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
For additional information about Inspire, please visit www.inspiresleep.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements, including, without limitation, statements regarding our growth prospects and expectations for future cash generation, and statements regarding potential future share repurchases. In some cases, you can identify forward-looking statements by terms such as ‘‘may,’’ ‘‘will,’’ ‘‘should,’’ ‘‘expect,’’ ‘‘plan,’’ ‘‘anticipate,’’ ‘‘could,’’ “future,” “outlook,” “guidance,” ‘‘intend,’’ ‘‘target,’’ ‘‘project,’’ ‘‘contemplate,’’ ‘‘believe,’’ ‘‘estimate,’’ ‘‘predict,’’ ‘‘potential,’’ ‘‘continue,’’ or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words.
These forward-looking statements are based on management’s current expectations and involve known and unknown risks and uncertainties that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, estimates regarding the annual total addressable market for our Inspire therapy in the U.S. and our market opportunity outside the U.S.; future results of operations, financial position, research and development costs, capital requirements and our needs for additional financing; commercial success and market acceptance of our Inspire therapy; the impact of macroeconomic trends; general and international economic, political, and other risks, including currency, inflation, stock market fluctuations and the uncertain economic environment; our ability to achieve and maintain adequate levels of coverage or reimbursement for our Inspire system or any future products we may seek to commercialize; competitive companies and technologies in our industry; our ability to enhance our Inspire system, expand our indications and develop and commercialize additional products; our business model and strategic plans for our products, technologies and business, including our implementation thereof; our ability to accurately forecast customer demand for our Inspire system and manage our inventory; our dependence on third-party suppliers, contract manufacturers and shipping carriers; consolidation in the healthcare industry; our ability to expand, manage and maintain our direct sales and marketing organization, and to market and sell our Inspire system in markets outside of the U.S.; risks associated with international operations; our ability to manage our growth; our ability to increase the number of active medical centers implanting Inspire therapy; our ability to hire and retain our senior management and other highly qualified personnel; risk of product liability claims; risks related to information technology and cybersecurity; risk of damage to or interruptions at our facilities; our ability to commercialize or obtain regulatory approvals for our Inspire therapy and system, including our next generation Inspire therapy system, or the effect of delays in commercializing or obtaining regulatory approvals; FDA or other U.S. or foreign regulatory actions affecting us or the healthcare industry generally, including healthcare reform measures in the U.S. and international markets; and the timing or likelihood of regulatory filings and approvals. Other important factors that could cause actual results, performance or achievements to differ materially from those contemplated in this press release can be found under the captions “Risk Factors” and "Management's Discussion and Analysis of Financial Condition and Results of Operations“ in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as updated in our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024 filed with the SEC, and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov and the Investors page of our website at www.inspiresleep.com. These and other important factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, unless required by applicable law, we disclaim any obligation to do so, even if subsequent events cause our views to change. Thus, one should not assume that our silence over time means that actual events are bearing out as expressed or implied in such forward-looking statements. These forward-looking statements should not be relied upon as representing our views as of any date after the date of this press release.
Investor and Media Contact
Ezgi Yagci
Vice President, Investor Relations
ezgiyagci@inspiresleep.com
617-549-2443
FAQ
What is the size of Inspire Medical Systems (INSP) accelerated share repurchase program?
When will Inspire Medical Systems (INSP) complete its accelerated share repurchase?
How long does Inspire Medical Systems (INSP) share repurchase program last?
How will Inspire Medical Systems (INSP) execute its share repurchase program?
