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Inspire Medical Systems

INSP

Inspire Medical Systems is a medical technology company that develops and commercializes minimally invasive neurostimulation solutions for patients with obstructive sleep apnea (OSA).

Market cap
$1.47B-62.1%
Revenue$915.2M+8.9%
Net income$131.1M+97.2%
Free cash flow$96.7M+22.7%
EPS (diluted)$4.41+103%
Trailing twelve months · change vs. prior year

Earnings

Next report

Aug 3, 2026 (In 5 days)
Revenue estimate$194.7M
EPS estimate-$0.22

Financials

Q1 2026

Income statement

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Revenue$204.6M+1.6%
Gross profit$176.9M+3.7%
Operating income-$1.1M+24.7%
Net income-$11.3M-477%
EPS (diluted)-$0.39-490%

Balance sheet

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Cash & equivalents$98.9M+83.6%
Total debt$29.6M-11.8%
Total equity$792.3M+24.6%
Total assets$911.4M+24.7%

Cash flow

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Operating cash flow$12.8M+292%
CapEx$9.7M+15.7%
Free cash flow$3.1M+121%

Valuation & ratios

Valuation

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Market cap$1.47B-62.1%
Enterprise value$1.4B-63.0%
P/E11.2×-61.4×
P/S1.6×-2.9×

Profitability

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Gross margin85.8%+1.1pp
Operating margin5.6%-0.3pp
Net margin14.3%+6.4pp
FCF margin10.6%+1.2pp

Returns & leverage

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Return on equity18.4%+7.5pp
Debt / equity0.0×
Current ratio6.3×-2.7×

Segments

By segment

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Operating Segment$204.6M+1.6%

Competitors

Profile

Inspire Medical Systems is a medical technology company that develops and commercializes minimally invasive neurostimulation solutions for patients with obstructive sleep apnea (OSA). Its proprietary technology provides a closed-loop system that monitors breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway, serving as a primary alternative for patients who cannot tolerate Continuous Positive Airway Pressure (CPAP) therapy.

Competitive position

The company is a first-mover in the hypoglossal nerve stimulation market with the first FDA-approved closed-loop neurostimulation technology for OSA.

GeographiesUnited States, Europe, Asia
Customer segmentsEar, Nose and Throat (ENT) Surgeons, Sleep Medicine Physicians, Hospitals
Business modelDirect Sales, Medical Device Manufacturing
SuppliersSpecialized electronic component manufacturers, Medical-grade biocompatible material suppliers, Contract manufacturing organizations
CustomersOtolaryngologists, Sleep clinics, Surgical centers, Health insurance providers
Listed2018
Employees1.0K
CEOTimothy Herbert
FilingsSEC EDGAR

Questions, answered.

What is Inspire Medical Systems's market cap?
Inspire Medical Systems (INSP) has a market capitalization of $1.5B and trades on NYSE.
What is Inspire Medical Systems's revenue and profitability?
Inspire Medical Systems generated $915.2M in trailing twelve-month revenue with net income of $131.1M, representing a net margin of 14.3%. Gross margin stands at 85.8%, with free cash flow of $96.7M. These figures are based on the Q1 2026 filing.
Who are Inspire Medical Systems's competitors?
Inspire Medical Systems's key competitors include LivaNova, ResMed, Philips, and others. These companies compete in similar markets and product categories.
Where is Inspire Medical Systems headquartered?
Inspire Medical Systems is headquartered in United States of America and employs approximately 1,011 people. It has been publicly traded since 2018.