Company: INSP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001609550-25-000020
Chunk: 31

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 term through May 31, 2035. In March 2024, we entered into an amendment on this lease which commenced in January 2025 which provides for approximately 18,000 square feet of additional space.Each lease described above includes options to renew for up to two additional periods of five years each at the then-prevailing market rates. The exercises of the lease renewal options are at our sole discretion and were not included in the lease term for the calculation of the ROU assets and lease liabilities as of the lease modification date as they were not reasonably certain of exercise. In addition to base rent in these leases, we also pay our proportionate share of the operating expenses, as defined in the leases. These payments are made monthly and adjusted annually to reflect actual charges incurred for operating expenses, such as common area maintenance, taxes, and insurance.The following table presents the lease balances within the consolidated balance sheets:March 31, 2025December 31, 2024Right-of-use assets:Operating lease right-of-use assets$24,972 $23,314 Operating lease liabilities:Accrued expenses$2,035 $1,754 Operating lease liabilities, non-current portion31,488 30,039 Total operating lease liabilities$33,523 $31,793 As of March 31, 2025, the remaining lease terms were 10.2 years and the weighted average discount rate was 4.9%. The operating cash outflows from our operating leases were $0.8 million and $0.6 million for the three-month periods ended March 31, 2025 and 2024, respectively.

4. Employee Retirement Plan

We sponsor a defined contribution employee retirement plan covering all of our full-time employees. The plan allows eligible employees to defer a portion of their eligible compensation up to the maximum allowed by IRS Regulations. We make voluntary matching contributions of 50% of the first 6% of each participating employee's contribution, up to 3% of eligible earnings. Our match contributions are made to funds designated by the participant, none of which 

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Table of ContentsInspire Medical Systems, Inc. Notes to Consolidated Financial Statements (unaudited) (Table amounts in thousands, except share and per share amounts)

are based on Inspire common stock. Our matching contributions to the plan totaled $1.9 million and $1.5 million for the three months ended March 31, 2025 and 2024, respectively.