Company: INSP
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001609550-25-000011
Chunk: 97

Company: Inspire Medical Systems, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 8
Chunk 97
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,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. Treasury debt securities267,355 267,355 — — Total investments366,391 267,355 99,036 — Total cash equivalents and investments$425,997 $326,961 $99,036 $— Fair Value Measurements as ofDecember 31, 2023EstimatedFair ValueLevel 1Level 2Level 3Cash equivalents:Money market funds$146,217 $146,217 $— $— Total cash equivalents146,217 146,217 — — Investments:Commercial paper2,951 — 2,951 — Corporate debt securities33,337 — 33,337 — Certificates of deposit2,968 — 2,968 — Asset-backed securities1,171 — 1,171 — U.S. Treasury debt securities243,554 243,554 — — Total investments283,981 243,554 40,427 — Total cash equivalents and investments$430,198 $389,771 $40,427 $— There were no transfers between levels during the years ended December 31, 2024 and 2023.

97

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

Concentration of Credit RiskFinancial instruments, which potentially subject us to concentrations of credit risk, consist principally of cash equivalents, investments, and accounts receivable. We maintain the majority of our cash and cash equivalents in accounts with major U.S. and multi-national financial institutions, and our deposits at certain of these institutions exceed insured limits. Market conditions can impact the viability of these institutions. In the event of failure of any of the financial institutions where we maintain our cash and cash equivalents, there can be no assurance that we will be able to access uninsured funds in a timely manner or at all.Our investment policy limits investments to certain types of debt securities issued by the U.S. government and its agencies, corporations with investment-grade credit ratings, or commercial paper and money market funds issued