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Inspire Medical Systems, Inc. Announces $75 million Accelerated Share Repurchase Program
GlobeNewswire News Room· 2024-11-11 11:45
Core Viewpoint - Inspire Medical Systems, Inc. has announced an accelerated share repurchase transaction of $75 million as part of a $150 million share repurchase program, reflecting confidence in its long-term growth potential and commitment to enhancing shareholder value [1][2]. Group 1: Share Repurchase Program - The company has entered into an accelerated share repurchase (ASR) transaction with Goldman Sachs to repurchase $75 million of its common stock [1]. - This ASR is part of a previously announced $150 million share repurchase program authorized by the Board of Directors [1]. - The ASR transaction is expected to conclude in the first quarter of 2025 [2]. Group 2: Management's Perspective - The Chairman and CEO of Inspire expressed confidence in the company's long-term growth potential, supported by strong revenue and earnings growth, and future cash generation expectations [2]. - The company aims to balance future growth investments with shareholder value enhancement through a disciplined capital allocation strategy, which may include opportunistic share repurchases [2]. Group 3: Share Repurchase Considerations - In deciding the capital allocation for share repurchases, the company evaluates its historical and expected business performance, cash and liquidity position, and market conditions [3]. - The timing, manner, price, and amount of repurchases are at the company's discretion, and the program may be modified or discontinued at any time [3]. - The share repurchase program is set to expire on August 5, 2026, unless terminated or extended by the Board [3]. Group 4: Company Overview - Inspire Medical Systems focuses on developing and commercializing innovative, minimally invasive solutions for patients with obstructive sleep apnea [4]. - The company's proprietary Inspire therapy is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology for treating moderate to severe obstructive sleep apnea [4].
INSP Stock Gains Following Q3 Earnings Beat, Gross Margin Contracts
ZACKS· 2024-11-05 15:56
Inspire Medical Systems, Inc. (INSP) delivered an earnings per share (EPS) of 60 cents in third-quarter 2024 against the year-ago period’s loss of 29 cents per share. The metric surpassed the Zacks Consensus Estimate by a huge 900%.INSP’s Revenues in DetailInspire Medical registered revenues of $203.2 million in the third quarter, up 32.5% year over year. The figure beat the Zacks Consensus Estimate by 2.8%.Per management, the top-line growth was driven by increased market penetration in existing centers, e ...
Here's What Key Metrics Tell Us About Inspire (INSP) Q3 Earnings
ZACKS· 2024-11-05 00:36
For the quarter ended September 2024, Inspire Medical Systems (INSP) reported revenue of $203.19 million, up 32.5% over the same period last year. EPS came in at $0.60, compared to -$0.29 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $197.65 million, representing a surprise of +2.81%. The company delivered an EPS surprise of +900.00%, with the consensus EPS estimate being $0.06.While investors closely watch year-over-year changes in headline numbers -- revenue and ...
Inspire Medical Systems (INSP) Q3 Earnings and Revenues Surpass Estimates
ZACKS· 2024-11-04 23:20
Inspire Medical Systems (INSP) came out with quarterly earnings of $0.60 per share, beating the Zacks Consensus Estimate of $0.06 per share. This compares to loss of $0.29 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 900%. A quarter ago, it was expected that this maker of devices for treating obstructive sleep apnea would post a loss of $0.14 per share when it actually produced earnings of $0.32, delivering a surprise of 32 ...
Inspire(INSP) - 2024 Q3 - Earnings Call Presentation
2024-11-04 23:17
Inspire Medical Systems, Inc. November 2024 NYSE: INSP Disclaimer 2 This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ''may,'' ''will,'' ''should,'' ''expect,'' ''plan,'' ''anticipate,'' ''could,'' "future," "outlook," ''intend,'' ''target,'' ''project,'' ''contempla ...
Inspire(INSP) - 2024 Q3 - Quarterly Report
2024-11-04 21:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38468 ______________________________ Insp ...
Inspire(INSP) - 2024 Q3 - Quarterly Results
2024-11-04 21:03
Exhibit 99.1 Inspire Medical Systems, Inc. Announces Third Quarter 2024 Financial Results and Updates 2024 Outlook Inspire Reports Year-over-Year Revenue Growth of 33% and Earnings per Share of $0.60 in the Third Quarter MINNEAPOLIS, MN - November 4, 2024 - Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire, or the company), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today reported fina ...
Inspire Medical Systems, Inc. Announces Third Quarter 2024 Financial Results and Updates 2024 Outlook
GlobeNewswire News Room· 2024-11-04 21:02
Core Insights - Inspire Medical Systems reported a strong financial performance for Q3 2024, with a revenue of $203.2 million, marking a 33% increase year-over-year [2][3] - The company achieved a gross margin of 84.1% and generated an operating income of $14.3 million, a significant turnaround from an operating loss of $13.5 million in the prior year [4][5] - Inspire is increasing its full-year revenue guidance to between $793 million and $798 million, reflecting a growth of 27% to 28% over 2023 [6][7] Recent Business Highlights - Revenue for Q3 2024 was $203.2 million, a 33% increase from $153.3 million in Q3 2023 [3] - U.S. revenue for the quarter was $195.8 million, also a 33% increase compared to the prior year [3] - The company activated 66 new U.S. centers in Q3 2024, bringing the total to 1,371 centers [2] - Inspire created 13 new U.S. sales territories, increasing the total to 323 [2] - The Inspire V neurostimulation system received FDA approval [2] Financial Performance - Gross margin remained stable at 84.1% for both Q3 2024 and Q3 2023 [3] - Operating expenses increased to $156.5 million, a 10% rise from $142.4 million in the prior year [4] - Net income for Q3 2024 was $18.5 million, compared to a net loss of $8.5 million in Q3 2023 [5] - Diluted earnings per share for Q3 2024 were $0.60, up from a diluted net loss of $0.29 per share in the prior year [5] Full Year Guidance - The company raised its full-year 2024 revenue guidance to $793 million to $798 million, up from the previous guidance of $788 million to $798 million [6] - Full-year earnings per share guidance was increased to $1.20 to $1.40, compared to the prior range of $0.60 to $0.80 [7] - Inspire maintains its guidance for opening 52 to 56 new U.S. medical centers per quarter [7]
Seeking Clues to Inspire (INSP) Q3 Earnings? A Peek Into Wall Street Projections for Key Metrics
ZACKS· 2024-10-30 14:20
Core Viewpoint - Inspire Medical Systems (INSP) is expected to report a quarterly earnings per share (EPS) of $0.06, reflecting a year-over-year increase of 120.7%, with revenues projected at $197.65 million, a 28.9% increase compared to the same quarter last year [1]. Earnings Estimates - The consensus EPS estimate has remained unchanged over the last 30 days, indicating that analysts have not reassessed their initial estimates during this period [2]. - Revisions to earnings projections are crucial for predicting investor behavior regarding the stock, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price performance [3]. Revenue Projections - Analysts estimate that 'Geographic Revenue - United States' will reach $191.01 million, representing a year-over-year increase of 29.5% [5]. - The consensus estimate for 'Geographic Revenue - All other countries' is $6.68 million, indicating a year-over-year increase of 15.5% [5]. Medical Centers and Sales Territories - Analysts predict that 'New U.S. Medical Centers' will total 53, down from 62 in the previous year [5]. - The total number of 'U.S. Medical Centers' is expected to reach 1,369, up from 1,107 in the same quarter last year [6]. - 'New U.S. sales territories' are projected to remain at 13, while 'Total U.S. sales territories' are expected to increase to 323 from 274 year-over-year [6]. Stock Performance - Shares of Inspire have decreased by 4.9% over the past month, contrasting with a 1.8% increase in the Zacks S&P 500 composite [7]. - With a Zacks Rank of 2 (Buy), INSP is anticipated to outperform the overall market in the near future [7].
3 Medical Info Systems Stocks to Gain From Healthcare Digitization
ZACKS· 2024-10-28 17:26
Starting from healthcare resource management to efficient handling of medical records and patient data, the Medical Info Systems industry is rapidly expanding its boundaries with each passing day. Banking on quickmoving technological advancements and exponentially growing worldwide demand for new-generation products, the industry has vastly improved patient care and also enhanced the network between healthcare providers and insurance plans. Added to this is the latest GenAI wave, which has significantly spe ...