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.
Inspire Medical Systems (NYSE: INSP) has announced its participation at the BofA Securities Health Care Conference 2023, scheduled for May 10, 2023, at 11:40 a.m. ET. The presentation will showcase its innovative solutions for obstructive sleep apnea, including the proprietary Inspire therapy, the only FDA-approved neurostimulation technology for treating moderate to severe cases. Interested parties can access the live webcast here. A replay will be available for two weeks on Inspire’s Investor website, which can be visited here.
Inspire Medical Systems (NYSE: INSP) is set to release its first-quarter 2023 financial results on May 2, 2023, after market close. A conference call will follow at 5:00 p.m. Eastern Time, where management will discuss results and recent business developments. Investors can access the call through the company’s Investor Relations webpage or via a direct link provided in the announcement. Inspire is known for its innovative Inspire therapy, the only FDA-approved neurostimulation treatment for moderate to severe obstructive sleep apnea, highlighting the company's focus on advancing medical technology in this specialized market.
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