Inspire Medical Systems, Inc. INSP

70.50 1.69 2.46% as of 25 Sep
Market cap
$2.0B
P/E
15.1×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 0.67
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — 1 1 1 — — — 3 — — 1 —
Insider Ownership 5.46%

Capital & Financial Ratios

Market Cap 1,960.00
Revenue 898.74
Net Income 135.04
Free Cash Flow 117.09
Net Debt (320.68)
Current Ratio 8.55
Debt/Equity 0.00
P/E ratio 15.13
P/S ratio 2.26
P/B ratio 2.46
Past 5Y EPS Growth 13.57%
This Y EPS Growth (50.65%)
Next Y EPS Growth 23.28%
Next 5Y EPS Growth (7.02%)
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 460 446 308 321
Receivables 90 93 120 103
Inventory 34 80 145 170
Other — — — —
594 631 584 609
2023 2024 2025 Q'26
Payables 39 39 37 27
ST’ Debt — — — —
Other — — — —
78 89 96 71
in millions of $

Compound Annual Growth

10y 5y 3y
Sales — 51.21% 30.77%
Cash Flow — 0.00% 116.24%
Earnings — 0.00% 0.00%
Book Value — 27.73% 16.35%

Revenue

Mar Jun Sep Dec Year
’26 205 201 — — —
’25 201 217 225 269 912
’24 164 196 203 240 803
’23 128 151 153 193 625
’22 69 91 109 138 408
’21 40 53 62 78 233
’20 21 12 36 46 115
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 13 23 — — —
’25 (7) 3 69 52 117
’24 9 0 52 69 130
’23 (1) 5 4 17 25
’22 (13) (6) 11 19 12
’21 (10) (10) 0 1 (20)
’20 (15) (25) (9) (4) (53)
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 3 14 — — —
’25 (15) (6) 58 42 78
’24 (3) (12) 44 62 91
’23 (5) 0 (3) 9 1
’22 (14) (7) 7 16 2
’21 (12) (12) (1) 0 (25)
’20 (15) (26) (10) (5) (55)
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 (0.39) 0.01 — — —
’25 0.10 (0.12) 0.34 4.66 4.89
’24 (0.34) 0.32 0.60 1.15 1.75
’23 (0.53) (0.41) (0.29) 0.49 (0.72)
’22 (0.61) (0.53) (0.60) 0.10 (1.60)
’21 (0.60) (0.48) (0.38) (0.09) (1.54)
’20 (0.67) (0.88) (0.39) (0.28) (2.19)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

2.8
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
— — 22.50 38.68 40.53 159.18 142.74 123.27 123.00 70.77

Analyst estimates 2026–2028

Powerpack
Low Price
— — 57.87 75.91 204.72 286.29 272.04 330.00 257.40 216.01
High Price
— — 165 239 317 485 755 1,011 1,246 1,333
Employees
0 0 0 0 0 0 1 1 1 1
Revenue/Emp
16 29 51 82 115 233 408 625 803 912
Revenue
76.23% 78.93% 80.12% 83.37% 84.73% 85.74% 83.79% 84.54% 84.68% 85.39%
Gross Margin
(19) (18) (22) (33) (57) (42) (44) (20) 58 66
EBT
(112.79%) (61.30%) (43.14%) (40.47%) (49.48%) (17.98%) (10.85%) (3.19%) 7.28% 7.20%
EBT Margin
(19) (18) (22) (33) (57) (42) (45) (21) 54 145
Net Income
0 1 0 0 1 1 2 0 (2) 11
Depreciation
14.99 24.27 3.47 3.45 4.43 8.56 14.53 21.32 26.97 31.05
Revenue/Sh
(16.91) (14.88) (1.50) (1.40) (2.19) (1.54) (1.60) (0.72) 1.80 4.95
Earnings/Sh
(16.38) (13.42) (1.28) (1.38) (2.03) (0.74) 0.41 0.84 4.38 3.98
Cash Flow/Sh
(0.28) (0.35) (0.02) (0.12) (0.09) (0.17) (0.32) (0.81) (1.31) (1.31)
Capex/Sh
(16.66) (13.77) (1.30) (1.49) (2.13) (0.91) 0.09 0.03 3.06 2.67
Free CF/Sh
0.00 1.13 11.25 5.87 8.81 8.40 17.67 19.54 23.17 26.60
Book Value/Sh
1 1 15 24 26 27 28 29 30 29
Shares
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 103.56 18.37
PE Ratio
0.97 0.97 12.18 21.53 42.50 26.87 17.41 8.81 6.87 2.97
PS Ratio
0.00 0.00 3.76 12.63 21.35 27.38 14.32 9.61 8.00 3.47
PB Ratio
1.14 1.14 8.95 20.01 40.69 26.02 16.32 8.11 6.35 2.66
EV/Sales
(2.24) (2.24) (23.90) (46.13) (84.59) (245.03) 2,692.28 4,950.12 55.94 30.91
EV/FCF
(18) (16) (19) (33) (53) (20) 12 25 130 117
Op' Cash Flow
0 0 0 (3) (2) (5) (9) (24) (39) (38)
Capex
(18) (16) (19) (36) (55) (25) 2 1 91 78
FCF
5 17 188 154 249 227 469 516 542 488
Working Cap'
12 16 25 25 25 16 8 — — —
Total Debt
6 0 (163) (125) (210) (199) (444) (460) (446) (308)
Net Debt
0 1 164 140 230 229 496 573 690 781
Sh' Equity
(147.69%) (139.58%) (19.39%) (17.44%) (24.74%) (14.59%) (10.44%) (3.41%) 7.21% 16.95%
ROA
(189.31%) (608.39%) (1,781.29%) (146.46%) (174.51%) (81.98%) (57.06%) (22.44%) 9.24% 6.73%
ROIC
16.96% 16.03% (94.45%) (21.88%) (30.96%) (18.33%) (12.38%) (3.96%) 8.48% 19.77%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Inspire Medical Systems, Inc. peers in Medical Devices

All 149 Medical Devices stocks →

Inspire Medical Systems, Inc. (INSP) key facts

  • Inspire Medical Systems, Inc. (INSP) is a Medical Devices company in the Healthcare sector, listed on the New York Stock Exchange.
  • Inspire Medical Systems, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $912.0 million, up 13.6% from fiscal 2024.
  • Net income was $145.4 million, or $4.95 per share (basic), a net margin of 16.0%.
  • As of September 25, 2026, INSP traded at $70.50, a market capitalization of $2.0 billion.
  • At that price the stock trades at 15.1× trailing-twelve-month earnings and 2.3× sales.
  • Return on equity was 19.8% and debt-to-equity 0.00.

Source: company filings (standardised) and stockrow calculations.

Inspire Medical Systems, Inc. (INSP) Latest News

News by impact score

Fine-tune

23 Sep

4

INSP is positioned for solid growth as it transitions to the Inspire V system for obstructive sleep apnea. The stock has fallen about 22.7% year-to-date, underperforming the industry and the S&P 500. Management points to expanding clinical evidence and wider adoption of Inspire V, including a Singapore study with 100% implant success, 80% SHER responder rate, and 5.9 hours of nightly therapy. More than 400 publications support Inspire therapy, and analyses suggest potential cardiovascular benefits beyond OSA. The U.S. market remains large and underpenetrated (over $10 billion) with reimbursement coverage for more than 300 million lives. Project Horizon aims to unlock about $30 million of incremental annual growth, funded by restructuring charges of roughly $20–$25 million (largely in Q3). Recovery depends on coding adoption, improved patient flow, and potential GLP-1 therapy competition. New CPT code approvals, reimbursement improvements, and Horizon-driven access initiatives could materially alter Inspire's revenue growth.

4 Sep

3

Inspire Medical Systems (INSP) released Q2 earnings, prompting buy, sell or hold analysis on the stock amid evaluation of financial results and future outlook. Q2 earnings results and related stock recommendations typically create moderate short-term effects on performance and sentiment without fundamentally altering long-term trajectory.

21 Aug

3

INSP stock has rallied nearly 40% year-to-date amid ongoing questions over whether its growth can persist. Year-to-date stock gains and growth outlook questions can moderately shape near-term investor sentiment and positioning for INSP.

16 Aug

3

INSP stock plunged 74% and may now trade at a discount to its intrinsic value. A 74% price drop reflects material deterioration in market sentiment that can affect near-term valuation and capital access.

14 Aug

4

Speculation emerges over which major medtech company might acquire Inspire Medical Systems, potentially leading to ownership change and market shifts for the firm. Acquisition rumors involving a larger medtech player would significantly reshape Inspire Medical Systems' trajectory and investor sentiment.

10 Aug

3 transcript

Inspire Medical Systems (INSP) held its Q2 2026 earnings call covering quarterly financial results, operational updates, and forward guidance. Quarterly earnings and guidance typically produce moderate shifts in investor sentiment and near-term valuation.

5 Aug

4

Inspire Medical Systems raises 2026 outlook as reimbursement headwinds ease. Raised 2026 outlook from easing reimbursement pressures signals major positive shift in trajectory and sentiment.

3

Inspire Medical Systems sees margin improvements but faces ongoing reimbursement risks, raising questions on whether INSP is a buy. Margin gains and reimbursement risks indicate moderate effects on financial performance and market sentiment.

4 Aug

4

Inspire Medical beat Q2 earnings estimates, raised its 2026 outlook, and its stock rose after the report. Q2 earnings beat plus raised 2026 guidance point to stronger results and improved prospects that can shift trajectory and sentiment.

4

Inspire Medical Systems beat Q2 estimates and raised guidance, raising questions on whether the stock remains fairly valued. Q2 beats and raised guidance point to stronger results and improved growth outlook that can shift company trajectory and investor views.

4

Inspire Medical Systems' Project Horizon combined with an upgraded outlook may shift the investment case for INSP by influencing its strategic direction and market performance. Project Horizon and outlook upgrade represent major strategic moves expected to significantly alter company trajectory and investor sentiment.

4 transcript

Inspire Medical Systems Inc (INSP) Q2 2026 earnings call focused on strategies to address reimbursement challenges affecting its sleep apnea device sales and growth. Reimbursement outcomes will directly shape INSP revenue trajectory and device adoption rates.

3 transcript

Inspire Medical Systems held its Q2 2026 earnings call covering revenue, growth metrics, and forward guidance for the sleep apnea device business. Quarterly earnings and guidance typically affect near-term sentiment and valuation multiples without shifting long-term strategy.

3 Aug

4

Inspire Medical Systems reported second quarter 2026 financial results, raised 2026 guidance, and outlined a strategic growth plan. Raised guidance plus strategic growth plan point to materially stronger revenue trajectory and investor sentiment.

3 transcript

Inspire Medical Systems held Q2 earnings call covering revenue, growth metrics, operational updates and forward guidance. Quarterly earnings results and guidance typically drive moderate near-term shifts in valuation and sentiment.

3

Inspire Medical Systems beat Q2 earnings and revenue estimates. Quarterly earnings beat signals positive financial results but does not alter long-term company trajectory.

3

Inspire Medical Systems reported bullish Q2 CY2026 results, driving a 13.6% stock increase. Bullish quarterly earnings trigger immediate stock gains but reflect routine financial updates without major strategic shifts.

10 Jul

4

Inspire Medical Systems (INSP) faces fresh challenges from product recalls that place its valuation under scrutiny. Product recalls create direct operational and reputational risks likely to pressure INSP valuation and investor sentiment.

22 Jun

3

Inspire Medical Systems presented new obstructive sleep apnea data and PREDICTOR study findings at the SLEEP 2026 conference. Conference data presentations can raise product awareness and support physician adoption without guaranteeing major financial shifts.

16 Jun

3

Inspire Medical Systems, Inc. will attend SLEEP 2026 and published the PREDICTOR Study. Conference presence plus new study publication can lift product visibility and adoption modestly.

3 Jun

3

Inspire Medical Systems (INSP) shares declined 15.9% since the latest earnings release. Post-earnings stock drop signals disappointing results likely to pressure near-term sentiment and valuation.

27 May

4

Stifel assesses Inspire Medical (INSP) after the company issued a guidance cut that surprised Wall Street. INSP guidance cut signals lowered financial expectations with major effects on future performance and market perception.

4

Analyst warns Inspire Medical faces problem lasting into 2028. Long-term problem warning to 2028 signals likely major negative shift in performance outlook and investor sentiment.

22 May

3

Bank of America flags coding overhang and estimate risks for Inspire Medical Systems, citing potential negative effects on company outlook and performance. Analyst warning on coding overhang and estimate risks creates moderate pressure on near-term sentiment and financial projections.

13 May

3

Inspire Medical Systems' Q1 earnings call featured five insightful analyst questions probing therapy adoption, reimbursement dynamics, competitive pressures, sales force expansion, and international growth strategies. Analyst questions reveal moderate insights into operational challenges, reimbursement, and growth prospects during Q1 earnings.

11 May

3

Inspire Medical Systems, Inc. (NYSE:INSP) faces grim prospects after today's analyst downgrade, signaling weakened outlook amid operational challenges. Analyst downgrade expected to moderately impact financial performance and investor sentiment without fundamentally altering long-term trajectory.

9 May

4

Inspire Medical Systems (INSP) stock plunged 18.8% after the company slashed its 2026 guidance due to persistent reimbursement challenges. Cutting 2026 guidance amid reimbursement issues triggers an 18.8% stock drop, signaling significant pressure on future revenue and investor confidence.

5 May

4

Inspire Medical Systems beat Q1 earnings estimates but cut its 2026 guidance, causing the stock to drop. Earnings beat offers short-term positivity overshadowed by 2026 guidance cut, significantly pressuring stock and future outlook.

4 May

4

Inspire Medical Systems reported Q1 earnings call highlights, covering financial results, operational updates, and future guidance. Q1 earnings highlights reveal financial performance and guidance that significantly shape investor expectations and stock trajectory.

4

Inspire Medical Systems, Inc. (INSP) released Q1 2026 earnings call summary detailing financial results, operational updates, and forward guidance. Q1 2026 earnings call summary discloses key financial metrics and strategic outlook with potential to significantly sway investor sentiment and stock performance.

stockrow.com/INSP · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com