Company: INSP
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001609550-25-000053
Chunk: 71

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 71
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 for identical assets or liabilities in active markets.

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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)

Level 2: Inputs include quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) that are observable for the asset or liability, either directly or indirectly.Level 3: Unobservable inputs that are supported by little or no market activities, which would require us to develop our own assumptions.We classify instruments within Level 1 if quoted prices are available in active markets for identical assets, which include our money market funds and U.S. Treasury debt securities. We classify instruments in Level 2 if the instruments are valued using observable inputs to quoted market prices, benchmark yields, reported trades, broker/dealer quotes or an income approach, such as a discounted cash flow pricing model that calculates values from observable inputs such as quoted interest rates, yield curves and other observable market information. These instruments include our commercial paper, certificates of deposit, corporate debt securities and asset-backed securities. The money market funds and available-for-sale securities are held by two custodians who obtain investment prices from a third-party pricing provider that uses standard inputs (observable in the market) to models which vary by asset class.The following tables set forth by level within the fair value hierarchy our assets that are measured on a recurring basis and reported at fair value as of September 30, 2025 and December 31, 2024. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.Fair Value Measurements as ofSeptember 30, 2025EstimatedFair ValueLevel 1Level 2Level 3Cash equivalents:Money market funds$62,996 $62,996 $— $— Total cash equivalents62,996 62,996 — — Investments:Commercial paper21,927 — 21,927 — Corporate debt securities98,105 — 98,105 — U.S. government securities178,068 178,068 — — Total investments298,100 178,068 120,032 — Total cash equivalents and investments$361,096 $241,064 $120,032 $— 

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Table of ContentsInspire Medical Systems, Inc.