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) announced FDA approval for its Inspire therapy to treat pediatric obstructive sleep apnea (OSA) in patients with Down syndrome aged 13 and older. This marks a significant expansion from its previous approval limited to adults. The therapy, validated by extensive clinical trials, offers a minimally invasive solution for children who cannot benefit from CPAP therapy. With support from key medical researchers and organizations, Inspire plans to educate healthcare providers on the new treatment option, enhancing access to care for this vulnerable population. Coverage from several payers, including Medicare, is expected to facilitate treatment.
Inspire Medical Systems, Inc. (NYSE: INSP) has secured countrywide reimbursement approval in Belgium for its innovative Inspire therapy aimed at treating obstructive sleep apnea (OSA). This pivotal decision is expected to enhance patient access to care and facilitate the establishment of more implanting centers in the country. The Inspire therapy, which has a history of clinical support from Antwerp University Hospital, is recognized as the first FDA-approved neurostimulation technology for moderate to severe OSA. The approval aligns with Inspire's goal of commercializing its therapy across Europe, following its earlier European Conformity Marking in 2010.
Inspire Medical Systems (NYSE: INSP) announced its participation in the KeyBanc Capital Markets Life Sciences & MedTech Investor Forum on March 21, 2023. The management team will present at 9:00 a.m. Eastern Time, and the presentation can be accessed via a live webcast. A replay will be available for two weeks post-event on Inspire's investor website. Inspire specializes in innovative solutions for obstructive sleep apnea, with its Inspire therapy being the first FDA-approved neurostimulation technology for treating moderate to severe cases. For more details, visit www.inspiresleep.com.
Inspire Medical Systems (NYSE: INSP) reported a significant milestone, achieving its first profitable quarter with a net income of $3.2 million for Q4 2022, contrasting with a loss of $2.4 million the previous year. The company's revenue reached $137.9 million in Q4, a 76% year-over-year increase. For the full year 2022, revenue totaled $407.9 million, a 75% increase. Inspire anticipates 2023 revenue between $560 million and $570 million, reflecting projected growth of 37% to 40%. Although gross margins declined slightly to 83.9% due to rising costs, continued expansion with new U.S. centers and sales territories supports positive momentum.
Inspire Medical Systems, Inc. (NYSE: INSP) will release its financial results for Q4 and fiscal 2022 on February 7, 2023, after market close. A conference call will follow at 5:00 p.m. ET to discuss the results and business updates. Investors can access the call through the company's Investor Relations page. Inspire specializes in innovative treatments for obstructive sleep apnea, with its Inspire therapy being the first FDA-approved neurostimulation technology for moderate to severe cases. Further details will be available on the company's website.
Inspire Medical Systems (NYSE: INSP) announced preliminary revenue results for Q4 and full year 2022, projecting revenues of $137.5 million to $137.9 million for Q4, reflecting a 76% increase year-over-year, and $407.5 million to $407.9 million for the full year, a 75% increase from 2021. The company activated 61 new medical centers and created 16 new sales territories in Q4. The full financial results will be reported on February 7, 2023. Inspire's therapy, which is FDA-approved for obstructive sleep apnea, continues to gain traction in the U.S. and Europe.
Inspire Medical Systems (NYSE: INSP) announced its participation in the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 8:15 a.m. Pacific Time. The event will take place at the Westin St. Francis Hotel in San Francisco, CA. A live webcast of the presentation will be available, with a replay accessible for two weeks on Inspire's Investor website. Inspire specializes in minimally invasive solutions for obstructive sleep apnea, including its FDA-approved Inspire therapy, a neurostimulation technology for moderate to severe cases.
Inspire Medical Systems (NYSE: INSP) announced its participation in the Piper Sandler 34th Annual Healthcare Conference on November 30, 2022, at the Lotte New York Palace Hotel. The management team will present at 3:30 p.m. ET, with a live webcast available for viewers. Inspire focuses on innovative, minimally invasive solutions for obstructive sleep apnea and is recognized for its Inspire therapy, the first FDA-approved neurostimulation technology for moderate to severe cases. A replay of the presentation will be accessible on Inspire's investor website for two weeks afterward.
Inspire Medical Systems (NYSE: INSP) announced that its management team will present at the Stifel 2022 Healthcare Conference on November 16, 2022, at 2:25 p.m. ET. The event will take place at the Lotte New York Palace Hotel. A live webcast of the presentation will be available and can be accessed through Inspire’s investor website, which will also host a replay for two weeks afterwards. Inspire is known for its innovative solutions for obstructive sleep apnea, including the first FDA-approved neurostimulation therapy for moderate to severe cases.
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