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Inspire Medical Systems logo
Inspire Medical Systems INSP
$ 62.36 -1.87%
report update icon

Quarterly report 2026-Q3
added 11-02-2026

Inspire Medical Systems Income Statement 2025-2011 | INSP

Brief overview of income trends at Inspire Medical Systems

The comparison covers a five-year financial horizon. According to figures from Inspire Medical Systems, revenue changed from 115 million dollars to 912 million dollars over five years. Overall revenue changed by +690.4%, equal to an annualized rate of about 51.2%. Sales grew at a rate typical of a strong expansion phase.

Gross profit changed from $97.8 million to $779 million (+696.6%). The relationship between sales and direct costs improved over the period. The gross margin was 84.7% at the start and 85.4% at the end. The relationship between gross profit and revenue changed only slightly.

EBITDA was −55.4 million dollars at the beginning and 64.9 million dollars at the end of the period (+217.2%). EBITDA underperformed the top-line trend. EBITDA margin moved from −48% to 7.1%. The company improved its ability to convert sales into EBITDA.

Comparing the endpoints shows a move from −57.2 million dollars to 145 million dollars. The trajectory reversed from a loss to positive earnings.

Over the period, capitalization shifted from $5.3 billion to $1.8 billion (−66.5%). The market has not yet confirmed the improvement in fundamentals.

Summary assessment

The financial profile remains mixed, with strengths and risks moving in different directions. The constructive conclusion rests on consistent sales economics, higher operating efficiency and a larger revenue base. The most visible risks are declining capitalization. The next reporting periods will show whether revenue, margins, and final profitability can strengthen.

Annual Income Statement Inspire Medical Systems

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

Market Cap

1.76 B 5.41 B 5.76 B 7.39 B 6.03 B 5.25 B 1.86 B 752 M - - - - - - -

Shares

29.4 M 29.8 M 29.3 M 28.1 M 27.3 M 26.1 M 23.8 M 14.6 M - - - - - - -

Historical Prices

60 182 197 263 221 202 74.8 53.6 - - - - - - -

Net Income

145 M 53.5 M -21.2 M -44.9 M -42 M -57.2 M -33.2 M -21.8 M -17.5 M -18.5 M -21.3 M - - - -

Revenue

912 M 803 M 625 M 408 M 233 M 115 M 82 M 50.6 M 28.6 M 16.4 M 8.01 M - - - -

Cost of Revenue

133 M 123 M 96.6 M 66.1 M 33.3 M 17.6 M 13.6 M 10.1 M 6.02 M 3.9 M - - - - -

Gross Profit

779 M 680 M 528 M 342 M 200 M 97.8 M 68.4 M 40.5 M 22.5 M 12.5 M 5.2 M - - - -

Operating Income

51 M 36.1 M -40.3 M -47.6 M -39.8 M -56.2 M -34.9 M -20.4 M -16 M -17.3 M - - - - -

Interest Expense

-2.66 M -855 K -195 K 1.68 M 2.13 M 2.12 M 2.12 M 3.3 M 1.75 M 1.3 M - - - - -

EBITDA

64.9 M 42.6 M -37.4 M -45.7 M -38.6 M -55.4 M -34.4 M -20 M -15.7 M -17.2 M -19.7 M - - - -

Operating Expenses

728 M 644 M 568 M 389 M 240 M 154 M 103 M 60.9 M 38.6 M 29.8 M 25 M - - - -

General and Administrative Expenses

625 M 530 M 452 M 321 M 203 M 128 M 90.5 M 53.5 M 3.81 M - 2.63 M - - - -

All numbers in USD currency

Quarterly Income Statement Inspire Medical Systems

2026-Q3 2026-Q2 2026-Q1 2025-Q4 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

Shares

28.9 M 28.8 M 28.7 M -144 K 29.3 M 29.5 M 29.7 M 21.7 M 29.9 M 29.7 M 29.6 M 72.5 K 29.4 M 29.2 M 29.1 M 290 K 28.2 M 27.6 M 27.5 M 37.5 M 27.3 M 27.2 M 27.1 M 306 K 26.8 M 26.3 M 24.2 M 90.7 K 23.9 M 23.8 M 23.4 M 23.4 M 21.4 M 13.5 M 1.29 M 1.27 M 1.18 M 1.15 M 1.15 M - - - - - - - - - - - - - - - - - - - - - - - -

Net Income

-24.4 M 314 K -11.3 M 136 M 9.93 M -3.59 M 2.99 M 35.2 M 18.5 M 9.79 M -10 M 14.8 M -8.54 M -12 M -15.4 M 3.15 M -16.8 M -14.5 M -16.7 M -2.39 M -10.3 M -13.1 M -16.2 M -7.48 M -10.4 M -23.1 M -16.2 M -9.08 M -8.25 M -7.65 M -8.27 M -4.78 M -4.69 M -5.86 M -6.5 M -4.25 M -4.02 M -4.76 M -4.48 M - - - - - - - - - - - - - - - - - - - - - - - -

Revenue

207 M 201 M 205 M 269 M 225 M 217 M 201 M 240 M 203 M 196 M 164 M 193 M 153 M 151 M 128 M 138 M 109 M 91.4 M 69.4 M 78.4 M 61.7 M 53 M 40.4 M 46 M 35.8 M 12.2 M 21.3 M 26.9 M 20.9 M 18 M 16.2 M 16.6 M 13.1 M 10.9 M 10 M 9.96 M 7.27 M 6.04 M 5.3 M - - - - - - - - - - - - - - - - - - - - - - - -

Cost of Revenue

28.8 M 29.1 M 27.7 M 36.1 M 31.8 M 34.7 M 30.7 M 36 M 32.4 M 29.8 M 24.8 M 28.1 M 24.4 M 24.3 M 19.9 M 22.2 M 19.8 M 14.2 M 10 M 11.2 M 8.62 M 7.52 M 5.98 M 7.16 M 5.21 M 1.95 M 3.3 M 4.24 M 3.46 M 3.09 M 2.85 M - 2.47 M 2.1 M 2.29 M - 1.56 M 1.38 M 1.2 M - - - - - - - - - - - - - - - - - - - - - - - -

Gross Profit

178 M 171 M 177 M 233 M 193 M 182 M 171 M 204 M 171 M 166 M 139 M 164 M 129 M 127 M 108 M 116 M 89.4 M 77.2 M 59.4 M 67.2 M 53.1 M 45.4 M 34.4 M 38.8 M 30.6 M 10.2 M 18 M 22.7 M 17.4 M 14.9 M 13.4 M 13.4 M 10.6 M 8.84 M 7.75 M 8.08 M 5.71 M 4.67 M 4.1 M - - - - - - - - - - - - - - - - - - - - - - - -

Operating Income

-28.7 M -514 K -1.12 M 46.1 M 9.64 M -3.32 M -1.48 M 31.9 M 14.3 M 5.1 M -15.2 M 9.3 M -13.5 M -16.6 M -19.5 M -335 K -17.2 M -14 M -16.1 M -1.82 M -9.8 M -12.5 M -15.7 M -7.06 M -9.89 M -22.8 M -16.4 M -9.29 M -8.65 M -8.18 M -8.78 M - -4.65 M -5.64 M -5.2 M - -3.65 M -4.38 M -4.12 M - - - - - - - - - - - - - - - - - - - - - - - -

Interest Expense

-191 K -110 K -226 K 330 K -66 K -3.5 M 578 K -778 K 118 K -135 K -60 K 73 K -224 K -61 K 17 K 241 K -101 K -144 K -45 K -27 K -33 K -19 K -38 K 62 K 2 K 3 K 78 K 7 K 30 K 13 K -38 K - 680 K 550 K 1.38 M - 428 K 4 K -1 K - - - - - - - - - - - - - - - - - - - - - - - -

EBITDA

-23.6 M 4.09 M 3.98 M 50 M 13.3 M 84 K 1.52 M 34.4 M 16.2 M 6.5 M -14.4 M 10.1 M -12.7 M -15.9 M -18.9 M 265 K -16.7 M -13.6 M -15.7 M -1.52 M -9.5 M -12.2 M -15.5 M -6.86 M -9.69 M -22.6 M -16.2 M -9.09 M -8.55 M -8.08 M -8.68 M - -4.36 M -5.45 M -5.1 M - -3.48 M -4.28 M -4.08 M - - - - - - - - - - - - - - - - - - - - - - - -

Operating Expenses

207 M 172 M 178 M 187 M 183 M 186 M 172 M 172 M 156 M 161 M 154 M 155 M 142 M 143 M 128 M 116 M 107 M 91.2 M 75.4 M 69.1 M 62.9 M 58 M 50.1 M 45.9 M 40.5 M 33 M 34.5 M 32 M 26.1 M 23.1 M 22.2 M 13.4 M 15.2 M 14.5 M 12.9 M - 9.36 M 9.05 M 8.22 M - - - - - - - - - - - - - - - - - - - - - - - -

General and Administrative Expenses

184 M 147 M 152 M 162 M 159 M 160 M 144 M 142 M 130 M 132 M 126 M 124 M 113 M 113 M 102 M 94.8 M 85.6 M 76.7 M 63.6 M 58.8 M 53.2 M 48.7 M 41.9 M 38.6 M 33.2 M 27 M 29.1 M 28.2 M 22.4 M 20.3 M 19.6 M - 13.5 M 12.7 M 11.2 M - 864 K 801 K 887 K - - - - - - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

The income statement is one of the three key financial reports of a company Inspire Medical Systems (alongside the balance sheet and the cash flow statement). It shows how the company makes money and what its expenses are:

  • How much revenue the company earned
  • How much it spent on production, personnel, marketing, taxes, etc.
  • What profit remained in the end

Analyzing the income statement helps an investor understand whether the business generates stable and growing profits, how effectively the company controls its expenses, and whether it is capable of generating income in the future. Additionally, this analysis shows how the company copes with crises and economic cycles, and allows assessing the potential for stock price growth and dividend payments.

Features
  • The income statement may include both recurring and one-time items (for example, profit from the sale of assets). It is necessary to separate core metrics from one-off events for accurate analysis.
  • Companies often publish interim reports (e.g., quarterly), which allows for more timely tracking of trends.
  • A combined analysis of the income statement with the balance sheet and cash flow statement provides a comprehensive view of the company’s financial health.

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