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1. Company Snapshot

1.a. Company Description

Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally.The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.It also develops a novel, a closed-loop solution that continuously monitors a patient's breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway.


The company was incorporated in 2007 and is headquartered in Golden Valley, Minnesota.

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1.b. Last Insights on INSP

Breaking News: Inspire Medical Systems, Inc. is facing a class action lawsuit for securities fraud after a significant stock drop. The lawsuit alleges that the company and its executives misled investors about the launch of the Inspire V device, concealing critical failures in billing software and training. Investors who purchased shares between August 6, 2024, and August 4, 2025, are encouraged to contact law firms such as Bleichmar Fonti & Auld LLP, DJS Law Group, or Hagens Berman. The deadline to move the Court for appointment as lead plaintiff is January 5, 2026. No recent earnings release was found.

1.c. Company Highlights

2. Inspire Medical Systems' Q3 2025 Earnings: Strong Revenue Growth and Positive Outlook

Inspire Medical Systems reported a strong third quarter 2025, with revenue totaling $224.5 million, a 10% increase compared to the prior year period. The company's U.S. revenue was $214.4 million, a 9% increase year-over-year, while revenue outside the U.S. was $10.1 million, a 37% increase. The company's EPS was $-0.38, beating analyst estimates of $-0.15 was not met but actual came at $-0.38. Inspire Medical Systems reiterated its full-year revenue guidance of $900 million to $910 million, representing 12% to 13% growth compared to full year 2024.

Publication Date: Nov -15

📋 Highlights
  • Q3 Revenue Growth:: Total revenue reached $224.5 million, reflecting a 10% increase from $203.2 million in Q3 2024.
  • 2025 Guidance Reaffirmed:: Full-year revenue remains projected at $900–$910 million, indicating 12–13% growth year-over-year.
  • Inspire V Adoption:: 75% of U.S. centers have transitioned to Inspire V, with 336 territories and 268 field clinical reps now aligned at a 1:1 ratio.
  • 2026 Growth Outlook:: Early indication of 10–11% revenue growth anticipated, driven by Inspire V momentum and expanded center adoption.
  • Operating Margin Target:: Full-year 2026 operating margins expected to stabilize at 2.5–3%, balancing R&D, marketing, and cost discipline.

Revenue Growth Drivers

The company's revenue growth was driven by the strong performance of the Inspire V system, with clinical feedback on the simplified procedure and comfort settings being "tremendously positive." The company presented data showing Inspire's 87% inspiratory overlap with the patient's breathing, which is the foundation of its closed-loop stimulation system. Timothy Herbert, Chairman and CEO, mentioned that the company is seeing "excellent momentum with Inspire V, both in physician adoption and patient outcomes."

Operational Efficiency and Guidance

Inspire Medical Systems is building efficiencies into its territory management, including promoting field clinical reps and territory managers. The company expects to continue investing in R&D, patient marketing, and medical education, but in a disciplined way. For 2026, the company provided an early indication of 10% to 11% revenue growth, which is slightly below analyst estimates of 10.6%.

Valuation Metrics

Inspire Medical Systems' current valuation metrics are as follows: P/E Ratio of 47.96, P/B Ratio of 3.76, P/S Ratio of 2.97, EV/EBITDA of 30.55. These metrics suggest that the company's stock is trading at a premium, with investors expecting strong growth in the future. The company's ROE is 7.87%, indicating a relatively healthy return on equity.

3. NewsRoom

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INSP INVESTOR LOSSES: Lose Money on Inspire Medical Systems, Inc.? Contact BFA Law before January 5 Securities Class Action Deadline

12:18

Source: globenewswire.com

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Head-To-Head Survey: Inspire Medical Systems (NYSE:INSP) versus iRhythm Technologies (NASDAQ:IRTC)

07:30

Source: defenseworld.net

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ROSEN, A LEADING AND RANKED FIRM, Encourages Inspire Medical Systems, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - INSP

Dec -06

Source: newsfilecorp.com

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ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Inspire Medical Systems, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - INSP

Dec -06

Source: globenewswire.com

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INSP SECURITIES ALERT: BFA Law Reminds Inspire Medical Systems, Inc. Investors with Losses of Important January 5 Securities Class Action Deadline

Dec -06

Source: newsfilecorp.com

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Inspire Medical Systems, Inc. $INSP Shares Purchased by CW Advisors LLC

Dec -06

Source: defenseworld.net

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INSP Investors Have Opportunity to Lead Inspire Medical Systems, Inc. Securities Fraud Lawsuit

Dec -06

Source: prnewswire.com

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ROSEN, TOP RANKED INVESTOR COUNSEL, Encourages Inspire Medical Systems, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action - INSP

Dec -05

Source: newsfilecorp.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.43%)

6. Segments

Neurostimulation Technology

Expected Growth: 10.43%

Inspire Medical Systems' Neurostimulation Technology growth is driven by increasing adoption in sleep apnea treatment, expanding insurance coverage, and growing awareness of the technology's efficacy in treating obstructive sleep apnea. Additionally, the company's strong sales force and strategic partnerships contribute to the 10.43% growth rate.

7. Detailed Products

Inspire Upper Airway Stimulation (UAS) Therapy

A minimally invasive treatment for moderate to severe obstructive sleep apnea (OSA) that works inside the body to stimulate the tongue and other muscles to keep the airway open during sleep.

Inspire Senza System

A fully implanted system that includes a small generator, a sensing lead, and a stimulation lead that work together to monitor and stimulate the tongue and other muscles to keep the airway open during sleep.

Inspire Sleep Apnea Treatment

A comprehensive treatment solution that includes the Inspire Upper Airway Stimulation (UAS) Therapy and the Inspire Senza System, providing a complete solution for patients with OSA.

8. Inspire Medical Systems, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Inspire Medical Systems, Inc. has a low threat of substitutes due to its unique product offerings and patented technology, making it difficult for competitors to replicate.

Bargaining Power Of Customers

Inspire Medical Systems, Inc. has a medium bargaining power of customers due to the presence of a few large customers, but the company's products are highly specialized and critical to their operations.

Bargaining Power Of Suppliers

Inspire Medical Systems, Inc. has a low bargaining power of suppliers due to its ability to negotiate prices and terms with its suppliers, and the availability of alternative suppliers.

Threat Of New Entrants

Inspire Medical Systems, Inc. has a high threat of new entrants due to the growing demand for sleep apnea treatments and the potential for new companies to enter the market with innovative products.

Intensity Of Rivalry

Inspire Medical Systems, Inc. operates in a moderately competitive market, with a few established players, but the company's unique products and strong brand recognition help to differentiate it from competitors.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 4.16%
Debt Cost 3.95%
Equity Weight 95.84%
Equity Cost 10.69%
WACC 10.41%
Leverage 4.34%

11. Quality Control: Inspire Medical Systems, Inc. passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Insulet

A-Score: 5.1/10

Value: 0.2

Growth: 9.6

Quality: 6.5

Yield: 0.0

Momentum: 8.0

Volatility: 6.3

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Inari Medical

A-Score: 5.1/10

Value: 6.0

Growth: 8.0

Quality: 4.5

Yield: 0.0

Momentum: 10.0

Volatility: 2.0

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CONMED

A-Score: 4.8/10

Value: 6.4

Growth: 6.4

Quality: 5.9

Yield: 3.0

Momentum: 2.0

Volatility: 5.0

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Bio-Rad

A-Score: 3.8/10

Value: 6.4

Growth: 2.3

Quality: 5.9

Yield: 0.0

Momentum: 3.0

Volatility: 5.0

1-Year Total Return ->

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Inspire Medical Systems

A-Score: 3.5/10

Value: 2.5

Growth: 9.4

Quality: 6.8

Yield: 0.0

Momentum: 0.0

Volatility: 2.3

1-Year Total Return ->

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Integra LifeSciences

A-Score: 3.3/10

Value: 9.0

Growth: 2.3

Quality: 3.5

Yield: 0.0

Momentum: 2.0

Volatility: 2.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

136.81$

Current Price

136.81$

Potential

-0.00%

Expected Cash-Flows