Inspire Medical ( (INSP) ) has released its Q3 earnings. Here is a breakdown of the information Inspire Medical presented to its investors.
Inspire Medical Systems, Inc. is a medical technology company dedicated to developing minimally invasive solutions for patients with obstructive sleep apnea.
In its latest earnings report for the third quarter of 2024, Inspire Medical Systems announced a significant 33% revenue increase year-over-year and earnings per share of $0.60. The company also highlighted the FDA approval of its Inspire V neurostimulation system and the expansion of its U.S. sales territories and medical centers.
Key financial metrics for the third quarter include a revenue of $203.2 million and a gross margin of 84.1%. The company reported an operating income of $14.3 million, a notable improvement from the previous year’s operating loss. Inspire also increased its cash and cash equivalents to $524.4 million by the end of the quarter.
Looking ahead, Inspire Medical Systems is optimistic about its growth prospects, raising its full-year revenue guidance to between $793 million and $798 million and increasing its earnings per share guidance. The company continues to focus on expanding its market presence and enhancing the adoption of its therapy for sleep apnea patients.
