Company: INSP
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001609550-25-000053
Chunk: 15

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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,Nine Months EndedSeptember 30,2025202420252024Revenue$224,501 $203,191 $642,904 $563,086 Cost of goods sold31,773 32,398 97,154 86,998 Gross profit192,728 170,793 545,750 476,088 Operating expenses:Research and development24,211 26,083 78,223 83,792 Selling, general and administrative158,873 130,392 462,684 388,097 Total operating expenses183,084 156,475 540,907 471,889 Operating income9,644 14,318 4,843 4,199 Other (income) expense:Interest and dividend income(3,984)(5,890)(13,536)(17,695)Interest expense11 — 15 — Other expense (income), net66 (118)2,986 77 Total other income(3,907)(6,008)(10,535)(17,618)Income before income taxes13,551 20,326 15,378 21,817 Income taxes3,619 1,829 6,046 3,532 Net income9,932 18,497 9,332 18,285 Other comprehensive income:Foreign currency translation (loss) gain(59)259 (168)86 Unrealized gain on investments302 1,556 271 814 Total comprehensive income$10,175 $20,312 $9,435 $19,185 Net income per share:Basic$0.34 $0.62 $0.32 $0.61 Diluted$0.34 $0.60 $0.31 $0.60 Weighted average shares outstanding:Basic29,332,376 29,879,621 29,512,495 29,741,720 Diluted29,600,223 30,633,789 29,938,246 30,566,395 

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

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Table of Contents

Inspire Medical Systems, Inc.

Consolidated Statements of Stockholders' Equity (unaudited)

(in thousands, except share amounts)

Nine Months Ended September 30, 202