Inspire Medical Systems $INSP

Health Care

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Inspire Medical Systems (INSP) is a Health Care company in the Russell 2000. Latest news and coverage below.

IPO: May 3, 2018 · $16.00 offering · NYSE · View IPO details →

Inspire Medical Systems revenue & net income history (FY2016–FY2025)

RevenueNet income
$912.0M$427.4M−$57.2MFY2016 revenue: $16.4MFY2016 net income: −$18.5M'16FY2017 revenue: $28.6MFY2017 net income: −$17.5M'17FY2018 revenue: $50.6MFY2018 net income: −$21.8M'18FY2019 revenue: $82.0MFY2019 net income: −$33.2M'19FY2020 revenue: $115.4MFY2020 net income: −$57.2M'20FY2021 revenue: $233.4MFY2021 net income: −$42.0M'21FY2022 revenue: $407.9MFY2022 net income: −$44.9M'22FY2023 revenue: $624.8MFY2023 net income: −$21.2M'23FY2024 revenue: $802.8MFY2024 net income: $53.5M'24FY2025 revenue: $912.0MFY2025 net income: $145.4M'25
Inspire Medical Systems annual financial statements
FY2016Dec 2016FY2017Dec 2017FY2018Dec 2018FY2019Dec 2019FY2020Dec 2020FY2021Dec 2021FY2022Dec 2022FY2023Dec 2023FY2024Dec 2024FY2025Dec 2025
Income statement
Revenue$16.4M$28.6M$50.6M$82.0M$115.4M$233.4M$407.9M$624.8M$802.8M$912.0M
Growth (year over year)—+73.9%+77.1%+62.2%+40.6%+102.3%+74.7%+53.2%+28.5%+13.6%
Gross profit$12.5M$22.5M$40.5M$68.4M$97.8M$200.1M$341.7M$528.2M$679.8M$778.8M
Gross margin76.2%78.9%80.1%83.4%84.7%85.7%83.8%84.5%84.7%85.4%
Operating income−$17.3M−$16.0M−$20.4M−$34.9M−$56.2M−$39.9M−$47.6M−$40.3M$36.1M$51.0M
Operating margin−105.0%−56.0%−40.3%−42.5%−48.7%−17.1%−11.7%−6.4%4.5%5.6%
Net income−$18.5M−$17.5M−$21.8M−$33.2M−$57.2M−$42.0M−$44.9M−$21.2M$53.5M$145.4M
Net margin−112.8%−61.3%−43.1%−40.5%−49.6%−18.0%−11.0%−3.4%6.7%15.9%
EPS (diluted)−$16.90−$14.88−$1.50−$1.40−$2.19−$1.54−$1.60−$0.72$1.75$4.89
Balance sheet
Cash and equivalents$6.68M$8.96M$97.3M$22.9M$190.5M$214.5M$441.6M$185.5M$150.2M$104.8M
Total assets—$25.1M$200.1M$181.3M$281.2M$295.1M$564.9M$676.8M$808.4M$907.3M
Total liabilities—$23.8M$36.1M$41.4M$51.4M$66.0M$68.9M$104.3M$118.7M$126.2M
Long-term debt——$24.5M$24.5M$24.5M$24.5M————
Shareholders' equity−$6.61M$1.33M$164.0M$139.8M$229.7M$229.0M$496.0M$572.5M$689.7M$781.2M
Cash flow
Operating cash flow−$17.9M−$15.8M−$18.7M−$32.8M−$53.0M−$20.1M$11.6M$24.7M$130.2M$117.0M
Capital expenditure$306.0K$412.0K$250.0K$2.74M$2.46M$4.67M$9.10M$23.6M$39.1M$38.5M
Free cash flow−$18.3M−$16.2M−$18.9M−$35.6M−$55.5M−$24.8M$2.47M$1.02M$91.1M$78.5M
Share buybacks——————$0$0$0$175.0M

From Inspire Medical Systems's 10-K and 10-Q filings with the SEC; its fiscal year ends in December. Each period shows the latest figure the company has reported for it, including restatements. † Quarter derived from the company's year-to-date or full-year totals. Filings on SEC EDGAR →

About Inspire Medical Systems

Headquarters
Golden Valley, Minnesota From SEC filings, Oct 2026

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