Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 92

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 92
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 taxes on net share settlement of equity awards(5,165)(17,158)(43)Proceeds from the issuance of common stock from employee stock purchase plan5,605 5,299 3,738 Net cash (used in) provided by financing activities(52,393)13,950 235,077 Effect of exchange rate on cash(118)164 75 (Decrease) increase in cash and cash equivalents(35,387)(256,055)227,125 Cash and cash equivalents at beginning of year185,537 441,592 214,467 Cash and cash equivalents at end of year$150,150 $185,537 $441,592 Supplemental cash flow informationCash paid for interest$22 $— $2,321 Property and equipment included in accounts payable and accrued expenses3,386 4,018 2,067 

The accompanying notes are an integral part of these financial statements.

93

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

1.  Organization

Description of Business

Inspire Medical Systems, Inc. is a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea ("OSA"). Our proprietary Inspire system is the first and only United States ("U.S.") Food and Drug Administration ("FDA"), European Union ("EU"), Medical Devices Regulation ("MDR"), and Japan Pharmaceuticals and Medical Devices Agency ("PDMA")-approved neurostimulation technology of its kind that provides a safe and effective treatment for patients with moderate to severe OSA. Inspire therapy received premarket approval ("PMA") from the FDA in 2014 and has been commercially available in certain European markets since 2011 and certain Asia Pacific markets since 2021. 

2.  Summary of Significant Accounting Policies

Basis of PresentationThe consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC").In the opinion of management, all adjustments, consisting of only normal recurring adjustments that are necessary to present fairly the financial position, results of operations, and cash flows have been made. The results of operations for the year ended December 31, 2024 are not necessarily indicative of the operating results for any future periods. Use of