Company: INSP
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001609550-25-000020
Chunk: 15

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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Three Months EndedMarch 31,20252024Revenue$201,317 $164,010 Cost of goods sold30,709 24,757 Gross profit170,608 139,253 Operating expenses:Research and development27,803 28,850 Selling, general and administrative144,290 125,621 Total operating expenses172,093 154,471 Operating loss(1,485)(15,218)Other (income) expense:Interest and dividend income(5,066)(5,923)Other (income) expense, net(578)60 Total other income(5,644)(5,863)Income (loss) before income taxes4,159 (9,355)Income taxes1,167 650 Net income (loss)2,992 (10,005)Other comprehensive income (loss):Foreign currency translation loss(300)(134)Unrealized loss on investments(9)(542)Total comprehensive income (loss)$2,683 $(10,681)Net income (loss) per share:Basic$0.10 $(0.34)Diluted$0.10 $(0.34)Weighted average shares outstanding:Basic29,702,358 29,615,166 Diluted30,311,476 29,615,166 

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

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Table of Contents

Inspire Medical Systems, Inc.

Consolidated Statements of Stockholders' Equity (unaudited)

(in thousands, except share amounts)

Three Months Ended March 31, 2025Common StockSharesAmountAdditionalPaid-InCapitalAccumulatedOtherComprehensiveIncome (Loss)AccumulatedDeficitTotalStockholders'EquityBalance at December 31, 202429,740,176 $30 $981,043 $536 $(291,914)$689,695 Stock options exercised73,491 — 6,441 — — 6,441 Vesting of restricted stock units and performance stock units, net199,778 — (19,192)— — (19,192)Issuance of common stock390 — 69 — — 69 Stock-based compensation expense— — 31,056 — — 31,056 Accelerated share repurchase of common stock(103,886)— —