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 its participation in the 11th Annual SVB Leerink Global Healthcare Conference, set for February 16, 2022. The management team will present at 11:20 a.m. Eastern Time, with a live webcast accessible for investors. The presentation will showcase Inspire's innovative solutions for patients with obstructive sleep apnea, including their FDA-approved neurostimulation technology, Inspire therapy. A replay will be available for two weeks on their investor website.
Inspire Medical Systems (NYSE: INSP) will announce its fourth quarter and 2021 annual financial results on February 8 after market close. A conference call will follow at 5:00 p.m. Eastern Time to discuss these results and recent developments. Inspire focuses on innovative solutions for patients with obstructive sleep apnea, offering the first FDA-approved neurostimulation therapy for moderate to severe cases. For more details, visit inspiresleep.com.
Inspire Medical Systems (NYSE: INSP) announced preliminary, unaudited revenue results for Q4 and full year 2021. Q4 revenue is expected to be between $78.0 million and $78.4 million, marking a 70% year-over-year increase. Full year revenue is projected at $233.0 million to $233.4 million, up 102% from 2020. The company activated 81 new U.S. centers in Q4, exceeding prior guidance. Inspire also received FDA approval for a Bluetooth-enabled remote control for its therapy system. Detailed financial results will be reported on February 8, 2022.
Inspire Medical Systems, a medical technology firm focused on obstructive sleep apnea solutions, announced its presentation at the Goldman Sachs Healthcare CEO Conference on January 6, 2022, at 3:00 p.m. ET. The event will be live-streamed, and a replay will be available for two weeks on their investor website. Inspire is known for its FDA-approved neurostimulation technology, which provides effective treatment for moderate to severe sleep apnea. For details, visit their investor page.
Inspire Medical Systems (NYSE: INSP) announced its participation in the 40th Annual J.P. Morgan Healthcare Conference on January 12, 2022. The company will present at 9:45 a.m. Eastern Time, with the presentation accessible via live webcast. Inspire focuses on innovative and minimally invasive solutions for obstructive sleep apnea, featuring the first FDA-approved neurostimulation technology for treating this condition. A replay of the presentation will be available for two weeks on Inspire's Investor website.
Inspire Medical Systems (NYSE: INSP) announced its management will present at the Piper Sandler 33rd Annual Healthcare Conference on December 1, 2021, at 3:30 p.m. Eastern Time. The presentation will be accessible through a live webcast, and a replay will be available for two weeks on Inspire's Investor website. Inspire specializes in developing innovative solutions for patients with obstructive sleep apnea, featuring the first FDA-approved neurostimulation technology for treatment. For more information, visit their website.
Inspire Medical Systems (NYSE: INSP) announced updates to the 2022 reimbursement payment rates for procedures performed in Ambulatory Surgical Centers (ASCs). Effective January 1, 2022, the national average reimbursement for CPT code 64582, assigned for Inspire's hypoglossal nerve stimulation treatment, will be $24,828.64, with a device offset percentage of 88.07%. This update follows CMS's correction of a previously miscalculated device offset. CEO Tim Herbert expressed gratitude towards CMS for the prompt updates, providing clarity for ASCs and enabling them to schedule procedures without reimbursement uncertainties.
Inspire Medical Systems reported a remarkable 72% revenue increase to $61.7 million for Q3 2021, driven by growing demand and the activation of 68 new centers, totaling 603 in the U.S. The gross margin improved to 86.0%, up from 85.5% a year prior. The company raised its full year 2021 revenue guidance to $219 million to $221 million, reflecting a potential growth of 90% to 92% compared to 2020. Despite a net loss of $10.3 million, cash reserves remain strong at $220.2 million. Inspire is optimistic about ongoing demand and reimbursement improvements for its therapy.
Inspire Medical Systems, a leader in medical technology for obstructive sleep apnea, will present at the Stifel 2021 Virtual Healthcare Conference on November 16, 2021, at 10:40 a.m. ET. The presentation will be available via a live webcast, and a replay will be accessible for two weeks on Inspire's Investor website.
Inspire's innovative therapy, the first FDA-approved neurostimulation method for moderate to severe obstructive sleep apnea, underscores their commitment to developing minimally invasive solutions for patients.
Inspire Medical Systems, a medical technology leader in obstructive sleep apnea solutions, will present at the Credit Suisse 30th Annual Healthcare Conference on November 9, 2021, at 8:00 a.m. Eastern Time. The presentation can be accessed via a live webcast and will be available for replay for two weeks on their Investor website. Inspire’s proprietary Inspire therapy is the only FDA-approved neurostimulation technology offering a safe treatment for moderate to severe obstructive sleep apnea.
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