Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 89

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 89
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$802,804 $624,799 $407,856 Cost of goods sold122,986 96,576 66,115 Gross profit679,818 528,223 341,741 Operating expenses:Research and development114,128 116,536 68,645 Selling, general and administrative529,607 451,958 320,688 Total operating expenses643,735 568,494 389,333 Operating income (loss)36,083 (40,271)(47,592)Other expense (income):Interest and dividend income(23,247)(20,560)(5,050)Interest expense22 — 1,677 Other expense, net855 195 49 Total other income(22,370)(20,365)(3,324)Income (loss) before income taxes58,453 (19,906)(44,268)Income taxes4,944 1,247 613 Net income (loss)53,509 (21,153)(44,881)Other comprehensive income (loss):Foreign currency translation (loss) gain(65)140 89 Unrealized (loss) gain on investments(199)746 (120)Total comprehensive income (loss)$53,245 $(20,267)$(44,912)Net income (loss) per share:Basic$1.80 $(0.72)$(1.60)Diluted$1.75 $(0.72)$(1.60)Weighted average shares outstanding:Basic29,763,395 29,302,154 28,071,748 Diluted30,543,274 29,302,154 28,071,748 

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

91

Inspire Medical Systems, Inc.

Consolidated Statements of Stockholders' Equity

(in thousands, except share amounts)

Common StockSharesAmountAdditionalPaid-inCapitalAccumulatedOtherComprehensive(Loss) IncomeAccumulatedDeficitTotalStockholders'EquityBalance at December 31, 202127,416,106 27 508,465 (55)(279,389)229,048 Stock options exercised416,602 1 12,080 — — 12,081 Vesting of restricted stock units569 — — — — — Shares held for tax withholdings