Company: INSP
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001609550-25-000053
Chunk: 24

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 include our commercial paper, certificates of deposit, corporate debt securities and asset-backed securities. The money market funds and available-for-sale securities are held by two custodians who obtain investment prices from a third-party pricing provider that uses standard inputs (observable in the market) to models which vary by asset class.The following tables set forth by level within the fair value hierarchy our assets that are measured on a recurring basis and reported at fair value as of September 30, 2025 and December 31, 2024. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.Fair Value Measurements as ofSeptember 30, 2025EstimatedFair ValueLevel 1Level 2Level 3Cash equivalents:Money market funds$62,996 $62,996 $— $— Total cash equivalents62,996 62,996 — — Investments:Commercial paper21,927 — 21,927 — Corporate debt securities98,105 — 98,105 — U.S. government securities178,068 178,068 — — Total investments298,100 178,068 120,032 — Total cash equivalents and investments$361,096 $241,064 $120,032 $— 

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Table of ContentsInspire Medical Systems, Inc. Notes to Consolidated Financial Statements (unaudited) (Table amounts in thousands, except share and per share amounts)

Fair Value Measurements as ofDecember 31, 2024EstimatedFair ValueLevel 1Level 2Level 3Cash equivalents:Money market funds$59,606 $59,606 $— $— Total cash equivalents59,606 59,606 — — Investments:Commercial paper19,831 — 19,831 — Corporate debt securities71,224 — 71,224 — Certificates of deposit7,694 — 7,694 — Asset-backed securities287 — 287 — U.S. government securities267,355 267,355 — — Total investments366,391 267,355 99,036 — Total cash equivalents and investments$425,997 $326,961 $99,036 $— There were no transfers between levels during the periods ended September 30, 2025 and December 31, 202