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) will present at the Goldman Sachs 43rd Annual Global Healthcare Conference on June 14, 2022, at 7:00 p.m. Eastern Time. The event will take place at the Terranea Resort in Rancho Palos Verdes, CA, with a live webcast accessible at this link. A replay will be available for two weeks on Inspire's Investor website. The company specializes in innovative, minimally invasive treatments for obstructive sleep apnea, including the FDA-approved Inspire therapy, the first neurostimulation technology for this condition.
Inspire Medical Systems announced its participation in the Goldman Sachs 43rd Annual Global Healthcare Conference on June 14, 2022, at 1:00 p.m. Eastern Time. The presentation will focus on Inspire's innovative solutions for obstructive sleep apnea, including its proprietary FDA-approved neurostimulation therapy. Attendees can access the live webcast and a replay of the event, which will be available for two weeks afterwards on Inspire's Investor website.
Inspire Medical Systems is showcasing its innovations at the SLEEP 2022 conference from June 4-8, highlighting the Inspire SleepSync™ digital health platform enabled by a new Bluetooth® remote. The platform now encompasses over 2.5 million nights of sleep data. The company will host an educational symposium on optimizing patient outcomes with Inspire therapy and participate in key scientific sessions discussing upper airway stimulation therapy. Inspire aims to demonstrate its commitment to advancing sleep apnea treatment with interactive physician discussions.
Inspire Medical Systems (NYSE: INSP) announced its management team will present at the UBS Global Healthcare Conference on May 25, 2022, at 1:15 p.m. ET in New York. The presentation will focus on Inspire's innovative, minimally invasive solutions for obstructive sleep apnea, including its FDA-approved neurostimulation technology, Inspire therapy. A live webcast will be available for those unable to attend in person, with a replay accessible for two weeks post-event on Inspire’s investor website.
Inspire Medical Systems (NYSE: INSP) reported a remarkable 72% revenue growth in Q1 2022, reaching $69.4 million, compared to $40.4 million in Q1 2021. The U.S. revenue surged by 76% to $66.4 million. The company's gross margin improved to 85.6%, up from 85.2%. Inspire activated 74 new medical centers, totaling 733 centers, and expanded to 17 new sales territories. The company raised its full-year revenue guidance to $336 million to $344 million, from $318 million to $326 million, anticipating continued positive trends.
Inspire Medical Systems (NYSE: INSP) has announced a $10 million investment in EnsoData to improve sleep lab capacity and efficiency through its AI-driven analysis platform, EnsoSleep, which is already in use at over 500 sleep centers. Additionally, Inspire has provided seed funding to Ognomy, a platform that enhances access to sleep apnea care by facilitating remote diagnosis and treatment. These investments aim to bolster Inspire's digital health strategy, addressing the challenges faced by over 20 million Americans with obstructive sleep apnea.
Inspire Medical Systems, a leader in medical technology, announced that its management team will present at the BofA Securities 2022 Healthcare Conference on May 11, 2022, at 10:40 a.m. Pacific Time. The event will take place at the Encore Hotel in Las Vegas, Nevada and will feature a live webcast accessible through their website. Inspire specializes in innovative solutions for obstructive sleep apnea and offers the only FDA-approved neurostimulation therapy for this condition. A recorded version of the presentation will be available for two weeks post-event.
Inspire Medical Systems, Inc. (NYSE: INSP) will release its first-quarter 2022 financial results on May 3, after market close. Management will host a conference call at 5:00 p.m. ET to discuss these results and recent developments. Inspire specializes in innovative, minimally invasive solutions for obstructive sleep apnea, showcasing its FDA-approved neurostimulation technology as a leading treatment option. For further details, visit Inspire's website.
Inspire Medical Systems reported a remarkable 70% revenue growth in Q4 2021, totaling $78.4 million, and a 102% increase for the full year 2021 at $233.4 million. The company activated 81 new U.S. implanting centers in Q4, exceeding guidance, and now operates a total of 684 centers. Inspire anticipates full-year 2022 revenue between $318 million and $326 million, projected growth of 36% to 40%. Despite challenges from the Omicron variant, Inspire's momentum and expanding market reach continue to drive its business forward.
Inspire Medical Systems (NYSE: INSP), a leader in medical technology for obstructive sleep apnea (OSA), will participate in the Wells Fargo 2022 MedTech R&D Spotlight Call Series on February 18, 2022, at 10:00 a.m. ET. The presentation will be accessible via a live webcast. Inspire's unique Inspire therapy is the only FDA-approved neurostimulation treatment for moderate to severe OSA, showcasing the company's commitment to innovative solutions. A replay of the presentation will be available for two weeks on Inspire's Investor website.
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