Symbols / INSP Stock $40.84 -1.26% Inspire Medical Systems, Inc.

Healthcare • Medical Devices • United States • NYQ
INSP (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
Scroll to Statements
Index EQUITY
Sector Healthcare
Industry Medical Devices
CEO Mr. Timothy P. Herbert
Exch · Country NYQ · United States
Market Cap 1.18B
Enterprise Value 922.45M
Income 131.14M
Sales 915.25M
FCF (ttm) 85.58M
Book/sh 27.51
Cash/sh 9.85
Employees 1,333
Insider 10d —
IPO May 03, 2018
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 0.00%
P/E 9.28
Forward P/E 31.29
PEG —
P/S 1.29
P/B 1.48
P/C —
EV/EBITDA 13.70
EV/Sales 1.01
Quick Ratio 4.35
Current Ratio 6.34
Debt/Eq 3.73
LT Debt/Eq —
EPS (ttm) 4.40
EPS next Y 1.31
EPS Growth —
Revenue Growth 1.60%
EPS Gr Q/Q —
Rev Gr Q/Q —
Earnings (next) 2026-08-03
Earnings (prior) 2026-05-04
ROA 3.91%
ROE 18.37%
ROIC —
Gross Margin 85.78%
Oper. Margin -0.55%
Profit Margin 14.33%
Shs Outstand 28.81M
Shs Float 26.95M
Insider Own 1.14%
Instit Own 122.03%
Short Float 16.74%
Short Ratio 2.95
Short Interest 3.68M
52W High 147.03
vs 52W High -72.22%
52W Low 39.61
vs 52W Low 3.11%
Beta 0.83
Impl. Vol. 1.56%
Rel Volume 0.88
Avg Volume 1.12M
Volume 984.88K
Target (mean) $52.17
Tgt Median $53.00
Tgt Low $39.00
Tgt High $65.00
# Analysts 12
Recom Hold
Prev Close $41.36
Price $40.84
Change -1.26%
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.

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$52.17
Mean price target
2. Current target
$40.84
Latest analyst target
3. DCF / Fair value
$53.46
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$40.84
Low
$39.00
High
$65.00
Mean
$52.17

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-05-07 main Oppenheimer Perform → Perform —
2026-05-05 main JP Morgan Neutral → Neutral $54
2026-05-05 down Piper Sandler Overweight → Neutral $55
2026-05-05 main Stifel Buy → Buy $65
2026-05-05 main RBC Capital Sector Perform → Sector Perform $45
2026-05-05 main Truist Securities Hold → Hold $50
2026-05-05 main Evercore ISI Group Outperform → Outperform $55
2026-05-05 main Wells Fargo Equal-Weight → Equal-Weight $56
2026-05-05 main Mizuho Outperform → Outperform $55
2026-05-05 main Baird Neutral → Neutral $50
2026-04-15 main Truist Securities Hold → Hold $64
2026-04-13 main Mizuho Outperform → Outperform $70
2026-04-10 main Stifel Buy → Buy $70
2026-04-06 main Evercore ISI Group Outperform → Outperform $62
2026-03-05 main Stifel Buy → Buy $85
2026-02-13 down Wolfe Research Outperform → Peer Perform —
2026-02-12 main Jefferies Hold → Hold $66
2026-02-12 main RBC Capital Sector Perform → Sector Perform $68
2026-02-12 main Piper Sandler Overweight → Overweight $85
2026-02-12 main Truist Securities Hold → Hold $70
News
RSS: Latest INSP news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-05-15 RONDONI JOHN Officer — 2,641 $43.28 $114,302
2026-05-14 RONDONI JOHN Officer — 700 $43.01 $30,107
2026-05-08 MCCORMICK SHAWN T Director — 696 $45.31 $31,536
2026-04-30 BROADER SHELLEY G Director — 3,562 $0.00 $0
2026-04-30 MEAD DANA G JR Director — 3,562 $0.00 $0
2026-04-30 ELLIS GARY LEE Director — 3,562 $0.00 $0
2026-04-30 MCCORMICK SHAWN T Director — 3,562 $0.00 $0
2026-04-30 MYRIAM CURET MCADAMS Director — 3,562 $0.00 $0
2026-04-30 TANSEY CASEY M Director — 3,562 $0.00 $0
2026-04-30 MELENIKIOTOU GEORGIA Director — 3,562 $0.00 $0
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
911.98
+13.60%
802.80
+28.49%
624.80
+53.19%
407.86
Operating Revenue
911.98
+13.60%
802.80
+28.49%
624.80
+53.19%
407.86
Cost Of Revenue
133.22
+8.33%
122.99
+27.35%
96.58
+46.07%
66.11
Reconciled Cost Of Revenue
133.22
+8.33%
122.99
+27.35%
96.58
+46.07%
66.11
Gross Profit
778.76
+14.55%
679.82
+28.70%
528.22
+54.57%
341.74
Operating Expense
727.80
+13.06%
643.74
+13.24%
568.49
+46.02%
389.33
Research And Development
103.17
-9.61%
114.13
-2.07%
116.54
+69.77%
68.64
Selling General And Administration
624.64
+17.94%
529.61
+17.18%
451.96
+40.93%
320.69
Total Expenses
861.03
+12.30%
766.72
+15.28%
665.07
+46.03%
455.45
Operating Income
50.95
+41.21%
36.08
+189.60%
-40.27
+15.38%
-47.59
Total Operating Income As Reported
50.95
+41.21%
36.08
+189.60%
-40.27
+15.38%
-47.59
EBITDA
79.79
+22.71%
65.03
+481.15%
-17.06
+58.12%
-40.73
Normalized EBITDA
79.79
+22.71%
65.03
+481.15%
-17.06
+58.12%
-40.73
Reconciled Depreciation
13.96
+113.08%
6.55
+130.15%
2.85
+53.18%
1.86
EBIT
65.83
+12.58%
58.48
+393.76%
-19.91
+53.26%
-42.59
Net Income
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Pretax Income
65.70
+12.39%
58.45
+393.65%
-19.91
+55.03%
-44.27
Net Non Operating Interest Income Expense
17.40
-25.09%
23.23
+12.96%
20.56
+509.55%
3.37
Interest Expense Non Operating
0.14
+522.73%
0.02
0.00
-100.00%
1.68
Net Interest Income
17.40
-25.09%
23.23
+12.96%
20.56
+509.55%
3.37
Interest Expense
0.14
+522.73%
0.02
0.00
-100.00%
1.68
Interest Income Non Operating
17.54
-24.57%
23.25
+13.07%
20.56
+307.13%
5.05
Interest Income
17.54
-24.57%
23.25
+13.07%
20.56
+307.13%
5.05
Other Income Expense
-2.66
-210.64%
-0.85
-338.46%
-0.20
-297.96%
-0.05
Other Non Operating Income Expenses
-2.66
-210.64%
-0.85
-338.46%
-0.20
-297.96%
-0.05
Tax Provision
-79.72
-1712.56%
4.94
+296.47%
1.25
+103.43%
0.61
Tax Rate For Calcs
0.00
+148.28%
0.00
-59.72%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Net Income From Continuing Operation Net Minority Interest
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Net Income From Continuing And Discontinued Operation
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Net Income Continuous Operations
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Normalized Income
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Net Income Common Stockholders
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Diluted EPS
—
1.75
+343.06%
-0.72
+55.00%
-1.60
Basic EPS
—
1.80
+350.00%
-0.72
+55.00%
-1.60
Basic Average Shares
—
29.76
+1.57%
29.30
+4.38%
28.07
Diluted Average Shares
—
29.76
+1.57%
29.30
+4.38%
28.07
Diluted NI Availto Com Stockholders
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
907.32
+12.24%
808.38
+19.44%
676.81
+19.82%
564.88
Current Assets
583.65
-7.48%
630.81
+6.24%
593.74
+12.02%
530.03
Cash Cash Equivalents And Short Term Investments
308.27
-30.81%
445.55
-3.22%
460.38
+1.99%
451.41
Cash And Cash Equivalents
104.81
-30.19%
150.15
-19.07%
185.54
-57.98%
441.59
Other Short Term Investments
203.46
-31.12%
295.40
+7.48%
274.84
+2698.47%
9.82
Receivables
119.69
+28.61%
93.07
+3.54%
89.88
+46.80%
61.23
Accounts Receivable
119.69
+28.61%
93.07
+3.54%
89.88
+46.80%
61.23
Gross Accounts Receivable
120.77
+28.55%
93.95
+2.64%
91.53
+49.41%
61.26
Allowance For Doubtful Accounts Receivable
-1.08
-22.73%
-0.88
+46.60%
-1.65
-4477.78%
-0.04
Inventory
145.29
+81.35%
80.12
+136.44%
33.88
+185.08%
11.89
Raw Materials
19.10
-14.86%
22.43
+266.80%
6.12
+8.33%
5.64
Work In Process
13.84
0.00
—
—
Finished Goods
112.36
+94.77%
57.69
+107.73%
27.77
+344.96%
6.24
Prepaid Assets
—
—
—
—
Other Current Assets
10.40
-13.87%
12.07
+25.84%
9.60
+74.30%
5.50
Total Non Current Assets
323.67
+82.27%
177.58
+113.76%
83.07
+138.41%
34.84
Net PPE
121.40
+27.47%
95.24
+52.02%
62.65
+159.65%
24.13
Gross PPE
147.05
+34.92%
109.00
+55.88%
69.92
+140.79%
29.04
Accumulated Depreciation
-25.65
-86.44%
-13.76
-89.22%
-7.27
-48.09%
-4.91
Properties
0.00
0.00
0.00
0.00
Buildings And Improvements
23.53
+0.94%
23.31
+2.85%
22.67
+229.46%
6.88
Machinery Furniture Equipment
33.17
+100.37%
16.55
+629.21%
2.27
+31.29%
1.73
Construction In Progress
24.38
-2.38%
24.98
-24.80%
33.21
+180.10%
11.86
Other Properties
54.21
+58.97%
34.10
+262.05%
9.42
+44.69%
6.51
Leases
11.77
+17.01%
10.06
+326.87%
2.36
+14.15%
2.06
Investments And Advances
96.33
+35.69%
71.00
+676.50%
9.14
0.00
Non Current Deferred Assets
88.67
+681953.85%
0.01
—
—
Non Current Deferred Taxes Assets
88.67
+681953.85%
0.01
—
—
Other Non Current Assets
17.26
+52.37%
11.33
+0.46%
11.28
+5.25%
10.71
Total Liabilities Net Minority Interest
126.16
+6.29%
118.69
+13.80%
104.30
+51.44%
68.87
Current Liabilities
96.06
+8.54%
88.50
+13.31%
78.11
+27.65%
61.19
Payables And Accrued Expenses
93.90
+8.24%
86.75
+11.06%
78.11
+30.50%
59.85
Payables
39.02
-3.18%
40.30
+2.24%
39.42
+46.82%
26.85
Accounts Payable
36.56
-5.49%
38.69
-0.39%
38.84
+44.67%
26.85
Current Accrued Expenses
54.88
+18.16%
46.45
+20.05%
38.69
+17.23%
33.00
Total Tax Payable
2.45
+52.11%
1.61
+179.38%
0.58
—
Income Tax Payable
2.45
+52.11%
1.61
+179.38%
0.58
—
Current Debt And Capital Lease Obligation
2.16
+22.98%
1.75
—
1.34
Current Debt
—
—
—
—
Other Current Borrowings
—
—
—
—
Current Capital Lease Obligation
2.16
+22.98%
1.75
0.00
-100.00%
1.34
Total Non Current Liabilities Net Minority Interest
30.10
-0.28%
30.19
+15.25%
26.19
+240.95%
7.68
Long Term Debt And Capital Lease Obligation
30.00
-0.14%
30.04
+20.90%
24.85
+229.70%
7.54
Long Term Debt
—
—
—
—
Long Term Capital Lease Obligation
30.00
-0.14%
30.04
+20.90%
24.85
+229.70%
7.54
Other Non Current Liabilities
0.10
-29.73%
0.15
-89.00%
1.35
+821.92%
0.15
Stockholders Equity
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Common Stock Equity
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Capital Stock
0.03
-3.33%
0.03
+0.00%
0.03
+3.45%
0.03
Common Stock
0.03
-3.33%
0.03
+0.00%
0.03
+3.45%
0.03
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
28.58
-3.90%
29.74
+0.61%
29.56
+1.90%
29.01
Ordinary Shares Number
28.58
-3.90%
29.74
+0.61%
29.56
+1.90%
29.01
Additional Paid In Capital
927.16
-5.49%
981.04
+6.97%
917.11
+11.80%
820.34
Retained Earnings
-146.49
+49.82%
-291.91
+15.49%
-345.42
-6.52%
-324.27
Gains Losses Not Affecting Retained Earnings
0.46
-13.43%
0.54
-33.00%
0.80
+1030.23%
-0.09
Other Equity Adjustments
0.46
-13.43%
0.54
-33.00%
0.80
+1030.23%
-0.09
Total Equity Gross Minority Interest
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Total Capitalization
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Working Capital
487.60
-10.09%
542.30
+5.17%
515.63
+9.98%
468.85
Invested Capital
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Total Debt
32.16
+1.14%
31.79
+27.96%
24.85
+180.05%
8.87
Capital Lease Obligations
32.16
+1.14%
31.79
+27.96%
24.85
+180.05%
8.87
Net Tangible Assets
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Tangible Book Value
781.16
+13.26%
689.70
+20.47%
572.51
+15.42%
496.01
Available For Sale Securities
96.33
+35.69%
71.00
+676.50%
9.14
—
Interest Payable
—
—
—
0.00
Investmentin Financial Assets
96.33
+35.69%
71.00
+676.50%
9.14
0.00
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
116.98
-10.19%
130.25
+428.32%
24.65
+113.10%
11.57
Cash Flow From Continuing Operating Activities
116.98
-10.19%
130.25
+428.32%
24.65
+113.10%
11.57
Net Income From Continuing Operations
145.42
+171.77%
53.51
+352.96%
-21.15
+52.87%
-44.88
Depreciation Amortization Depletion
13.96
+113.08%
6.55
+130.15%
2.85
+53.18%
1.86
Depreciation And Amortization
13.96
+113.08%
6.55
+130.15%
2.85
+53.18%
1.86
Other Non Cash Items
2.11
+39.16%
1.52
-28.71%
2.13
+142.09%
0.88
Stock Based Compensation
130.26
+12.29%
116.01
+40.67%
82.47
+58.69%
51.97
Provisionand Write Offof Assets
0.20
+126.04%
-0.77
-147.64%
1.61
+2658.73%
-0.06
Asset Impairment Charge
4.05
0.00
0.00
—
Deferred Tax
-88.75
0.00
0.00
—
Deferred Income Tax
-88.75
0.00
0.00
—
Change In Working Capital
-87.38
-131.72%
-37.71
+7.53%
-40.78
-2353.09%
1.81
Change In Receivables
-26.23
-908.19%
-2.60
+91.39%
-30.22
-11.85%
-27.02
Changes In Account Receivables
-26.23
-908.19%
-2.60
+91.39%
-30.22
-11.85%
-27.02
Change In Inventory
-65.17
-40.97%
-46.23
-110.16%
-22.00
-511.58%
5.34
Change In Prepaid Assets
1.65
+170.44%
-2.34
+50.74%
-4.76
-69.02%
-2.81
Change In Payables And Accrued Expense
2.38
-82.36%
13.47
-16.83%
16.19
-38.42%
26.30
Change In Accrued Expense
6.12
-52.41%
12.87
+86.50%
6.90
-42.24%
11.94
Change In Payable
-3.75
-720.36%
0.60
-93.50%
9.30
-35.24%
14.36
Change In Account Payable
-3.75
-720.36%
0.60
-93.50%
9.30
-35.24%
14.36
Investing Cash Flow
21.45
+118.96%
-113.12
+61.63%
-294.82
-1404.50%
-19.60
Cash Flow From Continuing Investing Activities
21.45
+118.96%
-113.12
+61.63%
-294.82
-1404.50%
-19.60
Net PPE Purchase And Sale
-38.50
+1.59%
-39.12
-65.57%
-23.63
-159.77%
-9.10
Purchase Of PPE
-38.50
+1.59%
-39.12
-65.57%
-23.63
-159.77%
-9.10
Capital Expenditure
-38.50
+1.59%
-39.12
-65.57%
-23.63
-159.77%
-9.10
Net Investment Purchase And Sale
59.95
+181.01%
-74.00
+72.71%
-271.19
-2482.79%
-10.50
Purchase Of Investment
-250.44
+40.17%
-418.60
-48.74%
-281.44
-2580.37%
-10.50
Sale Of Investment
310.38
-9.93%
344.61
+3263.31%
10.25
0.00
Financing Cash Flow
-183.45
-250.14%
-52.39
-475.58%
13.95
-94.07%
235.08
Cash Flow From Continuing Financing Activities
-183.45
-250.14%
-52.39
-475.58%
13.95
-94.07%
235.08
Net Issuance Payments Of Debt
—
0.00
0.00
+100.00%
-24.50
Repayment Of Debt
—
0.00
0.00
+100.00%
-24.50
Long Term Debt Payments
—
0.00
0.00
+100.00%
-24.50
Net Long Term Debt Issuance
—
0.00
0.00
+100.00%
-24.50
Net Common Stock Issuance
-175.02
-133.36%
-75.00
0.00
-100.00%
243.80
Common Stock Payments
-175.02
-133.36%
-75.00
0.00
0.00
Repurchase Of Capital Stock
-175.02
-133.36%
-75.00
0.00
0.00
Proceeds From Stock Option Exercised
14.61
-47.38%
27.77
-10.72%
31.11
+96.65%
15.82
Net Other Financing Charges
-23.04
-346.16%
-5.17
+69.90%
-17.16
-39802.33%
-0.04
Changes In Cash
-45.03
-27.67%
-35.27
+86.23%
-256.22
-212.85%
227.05
Effect Of Exchange Rate Changes
-0.31
-162.71%
-0.12
-171.95%
0.16
+118.67%
0.07
Beginning Cash Position
150.15
-19.07%
185.54
-57.98%
441.59
+105.90%
214.47
End Cash Position
104.81
-30.19%
150.15
-19.07%
185.54
-57.98%
441.59
Free Cash Flow
78.48
-13.88%
91.12
+8798.73%
1.02
-58.59%
2.47
Interest Paid Supplemental Data
0.14
+522.73%
0.02
0.00
-100.00%
2.32
Amortization Of Securities
-2.89
+67.39%
-8.86
-258.81%
-2.47
-61625.00%
-0.00
Common Stock Issuance
—
0.00
0.00
-100.00%
243.80
Issuance Of Capital Stock
—
0.00
0.00
-100.00%
243.80
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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