Inspire Medical Systems, Inc. (INSP) Form 10-Q — Nov 2, 2026
Inspire Medical's Q3 2026 revenue fell 7.9% to $206.7 million and the company swung to a net loss of $24.4 million ($0.84 per share) from $9.9 million in earnings a year ago, driven primarily by U.S. coding and reimbursement uncertainty around the Inspire V system. Management cited multiple headwinds: CMS/Medicare coding confusion including the -52 modifier reducing physician reimbursement by up to 30%, the WISeR prior-authorization program, and short-term revenue pressure from GLP-1 adoption. The company took $24.1 million of Project Horizon restructuring charges (targeting $30 million annualized savings) and a $7.0 million privacy litigation settlement.
Key figures
- Revenue
- 206695000
- Revenue Yoy
- -7.9%
- Total Assets
- 953033000
- Cash Position
- 190803000
- Shares Outstanding
- 28966119
- Total debt
- 0
- Gross margin
- 86.0%
- Q3 2025 revenue
- 224501000
- Nine month revenue
- 611859000
- Nine month revenue yoy
- -4.8%
- Legal settlement expense
- 7000000
- Restructuring charges q3
- 24138000
- Operating cash flow nine months
- 82503000
AI analysis
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