Company: INSP
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001609550-25-000053
Chunk: 18

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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3,431 Stock-based compensation expense— — 32,322 — — 32,322 Other comprehensive loss— — — (239)— (239)Net income— — — — 9,793 9,793 Balance at June 30, 202429,805,301 30 983,791 (115)(345,635)638,071 Stock options exercised152,106 — 14,226 — — 14,226 Vesting of restricted stock units10,273 — — Issuance of common stock469 — 65 — — 65 Shares held for tax withholdings(4,889)— (4,335)— — (4,335)Stock-based compensation expense— — 28,223 — — 28,223 Other comprehensive income— — — 1,815 — 1,815 Net income— — — — 18,497 18,497 Balance at September 30, 202429,963,260 $30 $1,021,970 $1,700 $(327,138)$696,562 

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

8

Inspire Medical Systems, Inc.

Consolidated Statements of Cash Flows (unaudited)

(in thousands)

 Nine Months EndedSeptember 30, 20252024Operating activities  Net income$9,332 $18,285 Adjustments to reconcile net income:  Depreciation and amortization10,135 4,072 Accretion of investment discount(2,512)(7,317)Stock-based compensation expense102,247 86,867 Provision (benefit) for estimated credit losses218 (1,133)Impairment of strategic investment4,046 — Other non-cash expenses1,568 1,106 Changes in operating assets and liabilities:  Accounts receivable(14,599)1,347 Inventories(61,659)(33,547)Prepaid expenses and other current assets(2,112)(4,467)Accounts payable18,351 (3,357)Accrued expenses and other liabilities(508)(791)Net cash provided by operating activities64,507 61,065 Investing