Inspire Medical Systems, Inc. Announces Preliminary Results for Second Quarter of 2024 and Updates 2024 Revenue Outlook
Inspire Medical Systems, Inc. (NYSE: INSP) has announced preliminary, unaudited results for Q2 2024 and updated its 2024 revenue outlook. The company, which specializes in minimally invasive solutions for obstructive sleep apnea, expects Q2 revenue of $195.9 million, a 30% increase year-over-year. U.S. revenue is anticipated to be $187.8 million, up 30%, while revenue outside the U.S. is expected to reach $8.1 million, a 27% increase.
Inspire has also raised its full-year 2024 revenue guidance to $788-$798 million, representing 26-28% growth over 2023. This is a $13 million increase from the initial guidance. The company cites strong execution and accelerating U.S. revenue growth as key factors in this positive outlook.
Inspire Medical Systems, Inc. (NYSE: INSP) ha annunciato risultati preliminari e non verificati per il secondo trimestre del 2024 e ha aggiornato le sue previsioni sui ricavi per il 2024. L'azienda, specializzata in soluzioni minimamente invasive per l'apnea ostruttiva del sonno, prevede ricavi per il secondo trimestre pari a 195,9 milioni di dollari, con un aumento del 30% rispetto all'anno precedente. Si prevede che i ricavi negli Stati Uniti raggiungano 187,8 milioni di dollari, in crescita del 30%, mentre i ricavi al di fuori degli Stati Uniti dovrebbero arrivare a 8,1 milioni di dollari, con un incremento del 27%.
Inspire ha anche incrementato le sue previsioni sui ricavi per l'intero anno 2024 a 788-798 milioni di dollari, rappresentando una crescita del 26-28% rispetto al 2023. Questo segna un aumento di 13 milioni di dollari rispetto alla guida iniziale. L'azienda cita una forte esecuzione e un'accelerazione della crescita dei ricavi negli Stati Uniti come fattori chiave di questo outlook positivo.
Inspire Medical Systems, Inc. (NYSE: INSP) ha anunciado resultados preliminares y no auditados para el segundo trimestre de 2024 y ha actualizado su perspectiva de ingresos para 2024. La compañía, que se especializa en soluciones mínimamente invasivas para la apnea obstructiva del sueño, espera ingresos de 195.9 millones de dólares en el segundo trimestre, un aumento del 30% en comparación con el año anterior. Se anticipa que los ingresos en EE. UU. sean de 187.8 millones de dólares, un incremento del 30%, mientras que se espera que los ingresos fuera de EE. UU. alcancen 8.1 millones de dólares, un aumento del 27%.
Inspire también ha elevado su pronóstico de ingresos para todo el año 2024 a un rango de 788-798 millones de dólares, representando un crecimiento del 26-28% respecto a 2023. Esto significa un aumento de 13 millones de dólares respecto a la guía inicial. La compañía señala una fuerte ejecución y un crecimiento acelerado de los ingresos en EE. UU. como factores clave para esta perspectiva positiva.
Inspire Medical Systems, Inc. (NYSE: INSP)는 2024년 2분기 예비 감사 결과와 2024년 수익 전망을 업데이트했다고 발표했습니다. 폐쇄성 수면 무호흡증에 대한 최소 침습 솔루션 전문인 회사는 2분기 매출이 1억 9천590만 달러에 이를 것으로 예상하며, 이는 전년 대비 30% 증가한 수치입니다. 미국에서의 매출은 1억 8천780만 달러로 예상되며, 30% 증가할 것으로 보이고, 미국 외 지역에서는 810만 달러에 이를 것으로 예상되어, 27% 증가할 것으로 보입니다.
Inspire는 또한 2024년 전체 연간 수익 전망을 788-798 백만 달러로 상향 조정했습니다. 이는 2023년에 비해 26-28% 성장한 수치입니다. 이는 초기 가이던스에서 1300만 달러 증가한 수치입니다. 회사는 강력한 실행력과 미국 내 수익 성장의 가속화가 이러한 긍정적인 전망의 주요 요인이라고 언급했습니다.
Inspire Medical Systems, Inc. (NYSE: INSP) a annoncé des résultats préliminaires non audités pour le deuxième trimestre de 2024 et a ajusté ses prévisions de revenus pour 2024. L'entreprise, spécialisée dans les solutions peu invasives contre l'apnée obstructive du sommeil, s'attend à un chiffre d'affaires de 195,9 millions de dollars pour le deuxième trimestre, soit une augmentation de 30 % par rapport à l'année précédente. Le chiffre d'affaires aux États-Unis devrait atteindre 187,8 millions de dollars, en hausse de 30 %, tandis que les revenus en dehors des États-Unis devraient atteindre 8,1 millions de dollars, soit une augmentation de 27 %.
Inspire a également rehaussé ses prévisions de revenus pour l'année 2024 à 788-798 millions de dollars, représentant une croissance de 26-28 % par rapport à 2023. Cela représente une augmentation de 13 millions de dollars par rapport aux prévisions initiales. L'entreprise cite une exécution solide et une accélération de la croissance des revenus aux États-Unis comme des facteurs clés de cette perspective positive.
Inspire Medical Systems, Inc. (NYSE: INSP) hat vorläufige, nicht geprüfte Ergebnisse für das zweite Quartal 2024 bekannt gegeben und seinen Umsatzausblick für 2024 aktualisiert. Das Unternehmen, das sich auf minimalinvasive Lösungen gegen obstruktive Schlafapnoe spezialisiert hat, erwartet für das zweite Quartal einen Umsatz von 195,9 Millionen US-Dollar, was einem Anstieg von 30% im Jahresvergleich entspricht. Der Umsatz in den USA wird voraussichtlich 187,8 Millionen US-Dollar betragen, was ebenfalls einem Anstieg von 30% entspricht, während der Umsatz außerhalb der USA voraussichtlich 8,1 Millionen US-Dollar erreichen wird, was einem Anstieg von 27% entspricht.
Inspire hat außerdem seine Umsatzprognose für das Gesamtjahr 2024 erhöht und erwartet einen Umsatz zwischen 788 und 798 Millionen US-Dollar, was einem Wachstum von 26-28% im Vergleich zu 2023 entspricht. Dies ist ein Anstieg von 13 Millionen US-Dollar im Vergleich zur ursprünglichen Prognose. Das Unternehmen führt eine starke Umsetzung und ein beschleunigtes Umsatzwachstum in den USA als entscheidende Faktoren für diese positive Prognose an.
- Q2 2024 revenue expected to increase by 30% year-over-year to $195.9 million
- U.S. revenue anticipated to grow 30% to $187.8 million in Q2 2024
- Revenue outside the U.S. expected to rise 27% to $8.1 million in Q2 2024
- Full-year 2024 revenue guidance raised by $13 million to $788-$798 million
- Projected 26-28% revenue growth for full-year 2024 compared to 2023
- None.
Insights
Inspire Medical Systems' preliminary Q2 2024 results and updated 2024 outlook present a compelling narrative of robust growth and market expansion. The company's anticipated Q2 revenue of
Key points to consider:
- U.S. revenue growth of
30% to$187.8 million indicates strong domestic market penetration and adoption of Inspire's technology. - International revenue growth of
27% to$8.1 million suggests promising expansion opportunities in global markets, albeit from a smaller base. - The updated full-year 2024 revenue guidance of
$788 million to$798 million represents a$13 million increase from the initial guidance, reflecting management's increased confidence in the company's growth trajectory.
The sequential revenue growth acceleration in the U.S. market is particularly encouraging, as it suggests increasing adoption rates and potentially expanding market share. This could be attributed to factors such as growing awareness of sleep apnea treatments, improved insurance coverage, or enhanced marketing efforts.
However, investors should note that while the growth rates are impressive, the company's heavy reliance on the U.S. market (about
Overall, Inspire Medical Systems appears to be in a strong position, with its innovative minimally invasive solutions gaining traction in the obstructive sleep apnea market. The raised guidance suggests management's confidence in maintaining this growth momentum through the second half of 2024, which bodes well for the company's near-term prospects.
Inspire Medical Systems' strong Q2 2024 performance and upward revision of full-year guidance reflect the growing acceptance of its innovative sleep apnea solution in the medical community. This success can be attributed to several factors within the sleep medicine landscape:
- Unmet Clinical Need: Obstructive sleep apnea remains a significant health concern, with many patients struggling with traditional CPAP therapy. Inspire's minimally invasive alternative addresses this gap effectively.
- Clinical Evidence: The continued adoption likely stems from accumulating long-term data supporting the efficacy and safety of Inspire's neurostimulation technology.
- Physician Training: The consistent growth suggests successful efforts in training more sleep specialists and surgeons in the implantation procedure, expanding the base of qualified providers.
- Patient Awareness: Increased direct-to-consumer marketing and word-of-mouth referrals from satisfied patients may be driving higher demand.
The
However, it's important to monitor potential challenges:
- Competition: The success of Inspire may attract new entrants or spur innovation from existing sleep apnea treatment providers.
- Long-term Outcomes: Continued collection and publication of long-term efficacy and safety data will be vital to maintain physician and payer confidence.
- Reimbursement Landscape: Changes in healthcare policies or insurance coverage could impact adoption rates.
Overall, Inspire's growth trajectory suggests that its neurostimulation technology is gaining traction as a viable alternative in sleep apnea treatment, potentially reshaping the standard of care in this field.
MINNEAPOLIS, July 29, 2024 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, announced certain preliminary, unaudited results for the quarter ended June 30, 2024, and updated full year 2024 revenue outlook. The company plans to report its complete results and host its earnings conference call for the second quarter of 2024 on August 6, 2024.
Preliminary, Unaudited Second Quarter Revenue
- Revenue for the second quarter is anticipated to be
$195.9 million , a30% increase over the same quarter of 2023- U.S. revenue is expected to be
$187.8 million , a30% increase over the same quarter of 2023 - Revenue outside of the U.S. is expected to be
$8.1 million , a27% increase over the same quarter of 2023
- U.S. revenue is expected to be
Updated Full Year 2024 Revenue Guidance
- Revenue for full year 2024 is anticipated to be in the range of
$788 million to$798 million , which represents growth of26% to28% over full year 2023. This represents a$13 million increase over initial 2024 revenue guidance range of$775 million to$785 million .
“We are so proud of our team’s strong execution and revenue performance in the second quarter, which showed sequential revenue growth acceleration in the U.S.,” said Tim Herbert, Chairman and CEO of Inspire. “With the strong momentum we are seeing in our business, we have increased confidence regarding strong continued revenue growth in the second half of 2024. As a result, we are increasing our revenue guidance to
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 preliminary, unaudited second quarter revenue results, and our expectations regarding full year 2024 revenue outlook. 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 March 31, 2024 to be 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
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