⬤ Loading…
Inspire Medical Systems, Inc.
…
🏹 Trader: 📈 Stage 2 View all →
📈 Stage 2 detected Find the fundamental catalyst → → run Growth Triggers in Ask AI
$2.0B
Market Cap
9.2
P/E
9.93
PEG
6.3%
ROCE
18.0%
ROE
0.04
D/E
6.0%
OPM
-52.7%
% from 52W High
58
α RS
🔍 INSP is showing a multi-screen setup because it matches 3 of 39 tracked screener presets, Sector RRG has Health Care in the Leading quadrant with the trail still weakening further, and it has maintained a 35-day Stage 2 momentum persistence. The main caution: the Graham Defensive preset's Backtest win rate is only 47.4%. Net: Mixed signal stack, not a recommendation. ? Conviction RRG Momentum Streaks Backtest
Sources
Conviction 3/39 · Health Care in Leading quadrant · Stage 2 streak: 35d · Backtest win rate 47.4%
⚖️ Compare 🔒 Generate Report 🔒 Research Packet 📚 Guides
🌏 Global Investor Returns
Currency-adjusted total returns for INSP including FX impact
🌏
Click 🌏 Returns tab to load data
📈 Price History
Ratio Health
— Excellent
— Good
— Average
— Poor
By Category
📊 Peer Medians
About

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 patients with moderate to severe OSA. It also develops a novel, 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.

Key Ratios Snapshot
📈 Growth Pattern
📊 Quick Scorecard
Loading…
⭐ Superinvestors Holding INSP
View All Superinvestors →
Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 470.0K $24.2M 0.04% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔒
Premium Feature
AI-generated 10-section company profile — business model, financials, strengths, risks & management quality
Upgrade to Premium
Already a member? Log in
📐
3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
Open Model →
📊 MIXED Inspire Medical Q1 2026 revenue $204.6M (+1.6%), faces $20M headwinds; FY outlook $825-875M.
Revenue & Profitability
First quarter 2026 revenue was $204.6 million, up 1.6% year-over-year. Operating margin and adjusted operating margin improved, driven by gross profit expansion from a higher sales mix of Inspire V systems. Adjusted EBITDA margin improved 100 basis points to 17.5%. Diluted EPS was a loss of $0.39, and adjusted diluted EPS was $0.10. The company ended the quarter with $400 million in cash and investments and no debt.
Outlook
Management believes there is a large untreated population of people with sleep apnea that can benefit from Inspire therapy. They expect the demand environment to remain strong long-term. Near-term headwinds include coding and reimbursement uncertainty, the WISeR program (AI-reviewed prior authorization in six states), and a potential short-term adverse impact from increasing GLP-1 adoption.
Growth Drivers
Key growth drivers include increased market penetration through existing and new centers, the adoption of Inspire V (which offers a more comfortable procedure for surgeons), and expanding the field clinical rep team to a 1:1 ratio with territory managers. The company is also prioritizing projects to improve the patient care pathway, marketing effectiveness, and digital product experience, which are expected to deliver returns in the second half of 2026.
Balance Sheet & CapEx
Capital expenditures for 2026 are expected to be between $40 million and $45 million. Investments are being made to support long-term growth, including R&D for new product development and operational efficiencies. The company is also adding to its field reimbursement team to assist customers with coding and prior authorization.
Margins
For Q1 2026, adjusted EBITDA margin was 17.5%, a 100 basis point improvement year-over-year. Gross profit expanded due to a higher mix of Inspire V systems. For full-year 2026, the company expects adjusted operating margin of 2%-4% and adjusted diluted EPS of $0.75-$1.25. The company is maintaining disciplined cost management and prioritizing revenue-generating activities.
Key Risks
Key risks flagged include continued coding and reimbursement uncertainty, the impact of the WISeR program (causing prior authorization delays), and the potential short-term adverse effect of GLP-1 therapies on revenue. Additionally, the effective tax rate is highly volatile due to stock-based compensation and a small pre-tax income base, with significant variability expected year-over-year.
Generated by AI · Q1 2026 results · Not investment advice
🔒
Free Account Required

Create a free Finmagine account to access Finmagine™ Scorecard.

See how this company scores across 5 dimensions — Financial Health, Growth Prospects, Competitive Position, Management Quality, and Valuation — powered by 30+ computed ratios.

Create Free AccountLog In
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Ask AI.

Get 25 expert AI analysis templates — Business KPIs, Comprehensive, Forensic Governance, Peer Comparison, Risk-Reward, Full Research Report, IPO Decoder, Red Flag Detector, and more — ready to paste into ChatGPT, Claude, Gemini, or Perplexity.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Peer Comparison.

Compare this company side-by-side against its sector peers with financial metrics, ratio benchmarking, and relative performance across all key dimensions.

Upgrade to PremiumCreate Free Account
✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
🔍
🔎 See cross-company document search → ?
📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-03
Q2 2026 saw revenue decline 7.6% to $200.6M due to coding and reimbursement disruptions, but profitability and cash flow exceeded expectations. Project Horizon was launched to drive future growth, and the 2026 outlook was raised, with sequential improvement expected in the second half.
Q1 2026 Q1 2026 2026-05-04
Revenue grew 1.6% to $204.6M in Q1 2026, but ongoing coding, reimbursement, and WISeR program headwinds led to a downward revision of full-year guidance. Adjusted operating income and cash flow improved, with sequential recovery expected in the second half as coding clarity increases.
Q4 2025 Q4 2025 2026-02-11
Revenue grew 14% in 2025, with strong Inspire V adoption and improved margins. 2026 guidance was widened due to reimbursement uncertainty, with a 4%–10% growth outlook and Q1 expected to be flat. Key risks include coding changes and WISeR program disruptions.
Q3 2025 Q3 2025 2025-11-03
Q3 2025 revenue grew 10% year-over-year to $224.5M, driven by Inspire V adoption and strong clinical outcomes. Full-year revenue guidance is reaffirmed at $900-$910M, with EPS guidance raised to $0.90-$1. GLP-1s and reimbursement changes are expanding the patient pool and supporting growth.
Q2 2025 Q2 2025 2025-08-04
Q2 2025 revenue grew 11% year-over-year, but full-year guidance was reduced due to delays in the Inspire V rollout and related headwinds. Gross margin remained strong at 84%, and early clinical data for Inspire V is promising. Revenue growth is expected to accelerate in 2026 as transition challenges are resolved.
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Catalyst Timeline.

Every result, order win, insider trade, ECS update, earnings-call, and SEC announcement for this company — in one chronological lane.

Upgrade to PremiumCreate Free Account
🔒
Premium Feature

Upgrade to Finmagine Premium to unlock Full Report.

Read the complete Finmagine™ investment research report — comprehensive fundamental analysis, business model assessment, competitive positioning, and investment recommendation.

Upgrade to PremiumCreate Free Account

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯
Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.
📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.