Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 91

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 91
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157)— (75,000)— — (75,000)Other comprehensive loss— — — (264)— (264)Net income— — — — 53,509 53,509 Balance at December 31, 202429,740,176 $30 $981,043 $536 $(291,914)$689,695 

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

92

Inspire Medical Systems, Inc.

Consolidated Statements of Cash Flows

(in thousands)

Year Ended December 31,202420232022Operating activitiesNet income (loss)$53,509 $(21,153)$(44,881)Adjustments to reconcile net income (loss):Depreciation and amortization6,550 2,846 1,858 Accretion of investment discount(8,859)(2,469)(4)Stock-based compensation expense116,007 82,470 51,970 Provision (benefit) for estimated credit losses(768)1,612 (63)Other non-cash expenses1,517 2,128 879 Changes in operating assets and liabilities:Accounts receivable(2,602)(30,218)(27,017)Inventories(46,233)(21,999)5,345 Prepaid expenses and other current assets(2,344)(4,758)(2,815)Accounts payable604 9,296 14,355 Accrued expenses and other liabilities12,865 6,898 11,942 Net cash provided by operating activities130,246 24,653 11,569 Investing activitiesPurchases of property and equipment(39,123)(23,629)(9,096)Purchases of investments(418,354)(281,189)— Proceeds from sales or maturities of investments344,605 10,246 — Purchases of strategic investments(250)(250)(10,500)Net cash used in investing activities(113,122)(294,822)(19,596)Financing activitiesPayments on long-term debt obligation— — (24,500)Proceeds from the exercise of stock options22,167 25,809 12,081 Proceeds from sale of common stock— — 243,801 Accelerated share repurchase of common stock(75,000)— — Payment of