Company: INSP
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001609550-25-000053
Chunk: 103

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 103
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5%Operating expenses:Research and development24,211 26,083 (1,872)(7.2)%78,223 83,792 (5,569)(6.6)%Selling, general and administrative158,873 130,392 28,481 21.8 %462,684 388,097 74,587 19.2 %Total operating expenses183,084 156,475 26,609 17.0 %540,907 471,889 69,018 14.6 %Operating income9,644 14,318 (4,674)(32.6)%4,843 4,199 644 15.3 %Other income, net(3,907)(6,008)2,101 (35.0)%(10,535)(17,618)7,083 (40.2)%Income before income taxes13,551 20,326 (6,775)(33.3)%15,378 21,817 (6,439)(29.5)%Income taxes3,619 1,829 1,790 97.9 %6,046 3,532 2,514 71.2 %Net income$9,932 $18,497 $(8,565)(46.3)%$9,332 $18,285 $(8,953)(49.0)%

Comparison of the Three Months Ended September 30, 2025 and 2024

Revenue

Revenue increased $21.3 million, or 10.5%, to $224.5 million for the three months ended September 30, 2025 compared to $203.2 million for the three months ended September 30, 2024. These results reflect an increase in sales of our Inspire system of $18.6 million in the U.S. and an increase of $2.7 million outside of the U.S. compared to the same prior year period. Overall revenue growth was primarily due to increased market penetration, and, we believe, increased physician and patient awareness of our Inspire system, partially offset by ENT surgeon capacity constraints and some U.S. patients and physicians delaying Inspire therapy until Inspire V is available at their location or while they trial GLP-1 medications.

Revenue information by region is summarized as follows:Three Months Ended September 30,20252024ChangeAmount