Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 106

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 106
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 through May 2035. In October 2024, we entered into an amendment on this lease which provides approximately 10,000 square feet of additional space.We entered into a warehouse and office space lease for our corporate headquarters under a non-cancelable operating lease in August 2023. This space includes approximately 22,000 square feet and a noncancellable lease term through May 2035. In March 2024, we entered into an amendment on this lease which commenced in January 2025 which provides for approximately 18,000 square feet of additional space. Each lease described above includes options to renew for up to two additional periods of five years each at the then-prevailing market rates. The exercises of the lease renewal options are at our sole discretion and were not included in the lease term for the calculation of the ROU assets and lease liabilities as of the lease modification date as they were not reasonably certain of exercise.In addition to base rent in these leases, we also pay our proportionate share of the operating expenses, as defined in the leases. These payments are made monthly and adjusted annually to reflect actual charges incurred for operating expenses, such as common area maintenance, taxes, and insurance. The following table presents the lease balances within the consolidated balance sheets: December 31,20242023Right-of-use assets:Operating lease right-of-use assets$23,314 $22,667 Operating lease liabilities:Accrued liabilities1,754 — Operating lease liabilities, non-current portion30,039 24,846 Total operating lease liabilities$31,793 $24,846 The cost components of our operating leases were as follows:Year Ended December 31,202420232022Operating lease cost$2,954 $2,166 $1,529 Short-term lease cost274 250 — Variable lease cost2,211 1,667 1,366 Total lease cost$5,439 $4,083 $2,895 Variable lease costs consist primarily of taxes, insurance, and common area maintenance costs.

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

Maturities of our lease liability for our operating lease are as follows as of December 31, 2024:2025$3,204 20263,584 20273,300 20283,811 20293,930 Thereafter23,501 Total