# Inspire Medical Systems, Inc.: overview

INSP · NYSE · CIK 1609550 · [Healthcare](/sectors/healthcare.md) · fiscal year ends Dec 31

Pages: [Overview](/companies/insp.md) · [Financials](/companies/insp/financials.md) · [Filings](/companies/insp/filings.md) · [Insiders](/companies/insp/insiders.md)

Latest reported revenue: [$200.6m](/filings/0001609550-26-000047.md) for Q2 FY2026, three months to 2026-06-30, from the 10-Q filed Aug 3, 2026 (XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax, accession 0001609550-26-000047).

## Last eight quarters

| Line item | Unit | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [203](/filings/0001609550-25-000053.md) | [240 d](/filings/0001609550-26-000016.md) | [201](/filings/0001609550-26-000023.md) | [217](/filings/0001609550-26-000047.md) | [225](/filings/0001609550-25-000053.md) | [269 d](/filings/0001609550-26-000016.md) | [205](/filings/0001609550-26-000023.md) | [201](/filings/0001609550-26-000047.md) |
| Gross margin | % | [84.1%](/filings/0001609550-25-000053.md) | [85.0% d](/filings/0001609550-26-000016.md) | [84.7%](/filings/0001609550-26-000023.md) | [84.0%](/filings/0001609550-26-000047.md) | [85.8%](/filings/0001609550-25-000053.md) | [86.6% d](/filings/0001609550-26-000016.md) | [86.5%](/filings/0001609550-26-000023.md) | [85.5%](/filings/0001609550-26-000047.md) |
| Operating margin | % | [7.0%](/filings/0001609550-25-000053.md) | [13.3% d](/filings/0001609550-26-000016.md) | [(0.7%)](/filings/0001609550-26-000023.md) | [(1.5%)](/filings/0001609550-26-000047.md) | [4.3%](/filings/0001609550-25-000053.md) | [17.1% d](/filings/0001609550-26-000016.md) | [(0.5%)](/filings/0001609550-26-000023.md) | [(0.3%)](/filings/0001609550-26-000047.md) |
| Net margin | % | [9.1%](/filings/0001609550-25-000053.md) | [14.7% d](/filings/0001609550-26-000016.md) | [1.5%](/filings/0001609550-26-000047.md) | [(1.7%)](/filings/0001609550-26-000047.md) | [4.4%](/filings/0001609550-25-000053.md) | [50.6% d](/filings/0001609550-26-000016.md) | [(5.5%)](/filings/0001609550-26-000047.md) | [0.2%](/filings/0001609550-26-000047.md) |
| Diluted EPS | $ per share | [0.60](/filings/0001609550-25-000053.md) | not reported | [0.10](/filings/0001609550-26-000023.md) | [(0.12)](/filings/0001609550-26-000047.md) | [0.34](/filings/0001609550-25-000053.md) | not reported | [(0.39)](/filings/0001609550-26-000023.md) | [0.01](/filings/0001609550-26-000047.md) |
| Free cash flow | $m | [44.3 d](/filings/0001609550-25-000053.md) | [62.2 d](/filings/0001609550-26-000016.md) | [(15.1)](/filings/0001609550-26-000023.md) | [(6.3) d](/filings/0001609550-26-000047.md) | [58.1 d](/filings/0001609550-25-000053.md) | [41.8 d](/filings/0001609550-26-000016.md) | [3.1](/filings/0001609550-26-000023.md) | [14.1 d](/filings/0001609550-26-000047.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment. Derived values: 9-month figure less the 6-month figure; 12-month figure less the 9-month figure; 6-month figure less the 3-month figure.

## Last five fiscal years

| Line item | Unit | FY2021 (2021-12-31) | FY2022 (2022-12-31) | FY2023 (2023-12-31) | FY2024 (2024-12-31) | FY2025 (2025-12-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [233](/filings/0001609550-24-000016.md) | [408](/filings/0001609550-25-000011.md) | [625](/filings/0001609550-26-000016.md) | [803](/filings/0001609550-26-000016.md) | [912](/filings/0001609550-26-000016.md) |
| Gross margin | % | [85.7%](/filings/0001609550-24-000016.md) | [83.8%](/filings/0001609550-25-000011.md) | [84.5%](/filings/0001609550-26-000016.md) | [84.7%](/filings/0001609550-26-000016.md) | [85.4%](/filings/0001609550-26-000016.md) |
| Operating margin | % | [(17.1%)](/filings/0001609550-24-000016.md) | [(11.7%)](/filings/0001609550-25-000011.md) | [(6.4%)](/filings/0001609550-26-000016.md) | [4.5%](/filings/0001609550-26-000016.md) | [5.6%](/filings/0001609550-26-000016.md) |
| Net margin | % | [(18.0%)](/filings/0001609550-24-000016.md) | [(11.0%)](/filings/0001609550-25-000011.md) | [(3.4%)](/filings/0001609550-26-000016.md) | [6.7%](/filings/0001609550-26-000016.md) | [15.9%](/filings/0001609550-26-000016.md) |
| Diluted EPS | $ per share | [(1.54)](/filings/0001609550-24-000016.md) | [(1.60)](/filings/0001609550-25-000011.md) | [(0.72)](/filings/0001609550-26-000016.md) | [1.75](/filings/0001609550-26-000016.md) | [4.89](/filings/0001609550-26-000016.md) |
| Free cash flow | $m | [(24.8)](/filings/0001609550-24-000016.md) | [2.5](/filings/0001609550-25-000011.md) | [1.0](/filings/0001609550-26-000016.md) | [91.1](/filings/0001609550-26-000016.md) | [78.5](/filings/0001609550-26-000016.md) |

- Revenue. XBRL Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Gross margin (gross profit / revenue). XBRL Gross profit: us-gaap:GrossProfit; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Operating margin (operating income / revenue). XBRL Operating income: us-gaap:OperatingIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.
- Diluted EPS. XBRL Diluted EPS: us-gaap:EarningsPerShareDiluted.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities; Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/insp/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [BlackRock, Inc.](/funds/2012383.md) | 2026-06-30 | $211.3m | 4,737,519 |  | Added +1,187,965 |
| [WELLINGTON MANAGEMENT GROUP LLP](/funds/902219.md) | 2026-06-30 | $106.3m | 2,382,660 |  | Reduced −153,294 |
| [VANGUARD PORTFOLIO MANAGEMENT LLC](/funds/2100121.md) | 2026-06-30 | $93.2m | 2,088,961 |  | Added +451,788 |
| [Soleus Capital Management, L.P.](/funds/1802630.md) | 2026-06-30 | $86.2m | 1,931,436 |  | Added +1,355,137 |
| [AQR CAPITAL MANAGEMENT LLC](/funds/1167557.md) | 2026-06-30 | $80.9m | 1,856,800 |  | Added +1,548,138 |
| [UBS Group AG](/funds/1610520.md) | 2026-06-30 | $73.4m | 1,645,511 |  | Added +1,006,583 |
| [D. E. Shaw & Co., Inc.](/funds/1009207.md) | 2026-06-30 | $65.6m | 1,470,462 |  | Added +281,925 |
| [NOMURA HOLDINGS INC](/funds/1163653.md) | 2026-06-30 | $61.1m | 1,369,410 |  | New +1,369,410 |
| [DEERFIELD MANAGEMENT COMPANY, L.P.](/funds/1009258.md) | 2026-06-30 | $57.9m | 1,296,862 |  | Reduced −1,406,376 |
| [VANGUARD CAPITAL MANAGEMENT LLC](/funds/2100119.md) | 2026-06-30 | $56.7m | 1,270,928 |  | Added +4,190 |

## Recent filings

[All 887 filings](/companies/insp/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-08-03 | 16:07 ET | [10-Q](/filings/0001609550-26-000047.md) | Quarterly report, period 2026-06-30 | 0001609550-26-000047 |
| 2026-08-03 | 16:03 ET | [8-K](/filings/0001609550-26-000045.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001609550-26-000045 |
| 2026-07-24 | 16:01 ET | [8-K](/filings/0001609550-26-000041.md) | 5.02 Departure or appointment of officers or directors | 0001609550-26-000041 |
| 2026-07-22 | 08:02 ET | [8-K](/filings/0001609550-26-000038.md) | 5.02 Departure or appointment of officers or directors; 9.01 Financial statements and exhibits | 0001609550-26-000038 |
| 2026-06-26 | 06:41 ET | [8-K](/filings/0001609550-26-000035.md) | 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001609550-26-000035 |
| 2026-05-05 | 16:01 ET | [8-K](/filings/0001609550-26-000026.md) | 5.02 Departure or appointment of officers or directors; 5.03 Amendment to articles or bylaws; 5.07 Shareholder vote results; 9.01 Financial statements and exhibits | 0001609550-26-000026 |
| 2026-05-04 | 16:07 ET | [10-Q](/filings/0001609550-26-000023.md) | Quarterly report, period 2026-03-31 | 0001609550-26-000023 |
| 2026-05-04 | 16:03 ET | [8-K](/filings/0001609550-26-000021.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 9.01 Financial statements and exhibits | 0001609550-26-000021 |
| 2026-03-20 | 07:51 ET | [DEF 14A](/filings/0001140361-26-010490.md) | Proxy statement, period 2026-04-30 | 0001140361-26-010490 |
| 2026-02-13 | 16:05 ET | [10-K](/filings/0001609550-26-000016.md) | Annual report, period 2025-12-31 | 0001609550-26-000016 |

## Latest annual report

[Form 10-K for the fiscal year ended Dec 31, 2025](/filings/0001609550-26-000016.md), filed Feb 13, 2026.

## Forecast league

Q3 FY2026, the quarter ended 2026-09-30, is open for forecasts until the first results filing for it is accepted by EDGAR. Results are due by \[object Promise\]. [Forecast this quarter](/leagues/2026q3/targets/47fb7281-09b0-4adb-a6c0-5f43e281a875)

## About the filer

- CIK: 1609550
- Tickers: INSP
- Exchange: NYSE
- SIC code: 3841 Surgical & Medical Instruments & Apparatus
- State of incorporation: DE
- Filer category: Large accelerated filer

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 30, 2026, 13:56 ET. No prices; not investment advice.