Inspire Medical Systems, Inc. Announces $75 million Accelerated Share Repurchase Program

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].