Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 74

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 7
Chunk 74
---
,271)76,354 (189.6)%Other income, net(22,370)(20,365)(2,005)9.8 %Income (loss) before income taxes58,453 (19,906)78,359 (393.6)%Income taxes4,944 1,247 3,697 296.5 %Net income (loss)$53,509 $(21,153)$74,662 (353.0)%

Revenue

Revenue increased $178.0 million, or 28.5%, to $802.8 million for the year ended December 31, 2024 compared to the year ended December 31, 2023. The increase was attributable to a $164.9 million increase in sales of our Inspire system in the U.S and an increase of $13.1 million outside of the U.S. Overall revenue growth was primarily due to increased market penetration in existing centers, expansion into new territories and centers, and, we believe, increased physician and patient awareness of our Inspire system, partially offset by ENT surgeon capacity constraints.

Revenue information by region is summarized as follows:

Year Ended December 31,20242023ChangeAmount% of RevenueAmount% of Revenue$%(in thousands, except percentages)United States$771,040 96.0 %$606,178 97.0 %$164,862 27.2 %All other countries31,764 4.0 %18,621 3.0 %13,143 70.6 %Total revenue$802,804 100.0 %$624,799 100.0 %$178,005 28.5 %

Revenue generated in the U.S. was $771.0 million for the year ended December 31, 2024, an increase of $164.9 million, or 27.2%, over the year ended December 31, 2023. Revenue growth in the U.S. was primarily due to increased market penetration in existing centers, the expansion into new territories and centers, and, we believe, increased physician and patient awareness of our Inspire system.

Revenue generated outside of the U.S. was $31.8 million in the year ended December 31, 2024, an increase of $13.1 million, or 70.6%, over the year ended December 31, 2023. As noted above,