Company: INSP
Filing Date: 2025-03-18
Form Type: DEF 14A
Source: 0001140361-25-009249
Chunk: 41

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-03-18
Form: DEF 14A
Chunk 41
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AL 2024 KEY BUSINESS HIGHLIGHTS We had a strong year in fiscal 2024, with outstanding financial results and excellent progress in our product development programs. Key highlights include the following:

| • | Generated revenue of $802.8 million for fiscal year 2024, a 28% increase over fiscal year 2023. |

| • | Achieved first full year of profitability, with diluted net income of $1.75 per share for full year 2024, compared to a loss of $0.72 per share for full year 2023. |

| • | Full year financial results for 2024 improved across other key metrics, including: |

| – | Gross margin, which was 84.7% for full year 2024, compared to 84.5% for full year 2023; |

| – | Operating income, which was $36.1 million for full year 2024, compared to an operating loss of $40.3 million for full year 2023; and |

| – | Net income, which was $53.5 million for full year 2024, compared to a net loss of $21.2 million for full year 2023. |

| • | The Board authorized the Company’s first share repurchase program of up to $150.0 million of Inspire common stock. |

| • | Received FDA approval of the Inspire V neurostimulation system, which includes the Company’s next generation neurostimulator and the associated patient remote and physician programmer. |

| • | Surpassed 90,000 patients treated with Inspire therapy. |

| • | Received European Union Medical Device Regulation approval of the Inspire IV therapy and full-body MRI compatibility. |

| Inspire Medical Systems, Inc. |     | 35 |     | 2025 Proxy Statement |

TABLE OF CONTENTS

| EXECUTIVE COMPENSATION |

KEY ASPECTS OF 2024 EXECUTIVE COMPENSATION: STRONG PERFORMANCE ORIENTATION Stock Price Performance and Total Shareholder Return As shown in the graphic below, our Total Shareholder Return (“TSR”) for 2024 was -8.9%, and our cumulative TSR since our May 2018 IPO through the end of fiscal 2024 was 642.1%, outperforming relevant indices overall since our IPO.

| * | TSR was calculated assuming 1-trading day averaging periods and reinvested dividends. |

| ** | The Company completed its IPO in May