Company: INSP
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001609550-25-000032
Chunk: 131

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 131
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 an increase of $1.3 million outside of the U.S. Overall revenue growth was primarily due to increased market penetration, and, we believe, increased physician and patient awareness of our Inspire system, partially offset by ENT surgeon capacity constraints and some U.S. patients and physicians delaying Inspire therapy until Inspire V is available at their location or while they trial GLP-1 medications.

Revenue information by region is summarized as follows:

Six Months Ended June 30,20252024ChangeAmount% of RevenueAmount% of Revenue$%(in thousands, except percentages)United States$400,756 95.8 %$343,579 95.5 %$57,177 16.6 %All other countries17,647 4.2 %16,316 4.5 %1,331 8.2 %$418,403 100.0 %$359,895 100.0 %$58,508 16.3 %

Revenue generated in the U.S. was $400.8 million for the six months ended June 30, 2025, an increase of $57.2 million, or 16.6%, compared to the six months ended June 30, 2024. Revenue growth in the U.S. was primarily due to increased market penetration, and, we believe, increased physician and patient awareness of our Inspire system, partially offset by ENT surgeon capacity constraints and some patients and physicians delaying Inspire therapy until Inspire V is available at their location or while they trial GLP-1 medications.

Revenue generated outside of the U.S. was $17.6 million for the six months ended June 30, 2025, an increase of $1.3 million, or 8.2%, compared to the six months ended June 30, 2024. Revenue growth outside the U.S. was primarily due to increased market penetration, and, we believe, increased physician and patient awareness of our Inspire system.

Cost of Goods Sold and Gross Margin

Cost of goods sold increased $10.8 million, or 19.7%, to $65.4 million for the six months ended June 30, 2025 compared to $54.6 million for the six months ended June 30, 2024. The increase was primarily due to product costs associated with the higher sales volume of our Inspire system experienced during the first half of 2025, and to a lesser extent