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Inspire Medical Systems

FDA-approved neurostimulation device for OSA

Overview

Inspire Medical Systems develops and sells a minimally invasive implantable device for obstructive sleep apnea (OSA). Its lead product, the Inspire system, uses implanted neurostimulation to activate the hypoglossal nerve, which moves the tongue and other airway muscles to keep the airway open during sleep. Patients control the therapy with a small handheld remote. The system targets adults with moderate to severe OSA who cannot use or benefit consistently from CPAP. Unlike non-implant options, Inspire provides a hands-free, on-demand airway support during sleep and is the first FDA-approved neurostimulation treatment for OSA. The company differentiates itself by offering a clinically approved implantable alternative to CPAP, backed by a direct US sales force and a network in Europe. Its goal is to provide an effective, durable option for patients who struggle with CPAP, expanding access to neurostimulation therapy to improve sleep quality and health outcomes.

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About Inspire Medical Systems

Simplify's Rating
Why Inspire Medical Systems is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Healthcare

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Golden Valley, MN

Founded

2007

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What believers are saying

  • AMA approved Category I CPT codes for single-lead hypoglossal stimulation effective January 1, 2028.
  • Q3 2026 revenue reached $206.7M, and gross margin stayed 86.0%.
  • Project Horizon will free about $30M annually for growth initiatives by late 2026.

What critics are saying

  • The 2026 securities class action targets Inspire V launch disclosures, reimbursement codes, and guidance.
  • CMS rescinded the wrong 64568 billing path, delaying procedures and cutting 2026 revenue about $120M.
  • Medicare and commercial coding confusion chokes Inspire V adoption before 2028, threatening growth.

What makes Inspire Medical Systems unique

  • Inspire remains the only FDA-approved implantable hypoglossal nerve stimulator for moderate-severe OSA.
  • Inspire V plus SleepSync bundles device activation, coding workflow, and patient management.
  • Direct U.S. sales and European distributors give tighter control over physician adoption.

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Funding

Total Funding

$642.4M

Above

Industry Average

Funded Over

9 Rounds

Post IPO Equity funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Equity Funding Comparison Coming Soon

Benefits

  • Health Insurance
  • Dental Insurance
  • Vision Insurance
  • Life Insurance
  • Disability Insurance
  • Health Savings Account/Flexible Spending Account
  • 401(k) Retirement Plan
  • 401(k) Company Match
  • Unlimited Paid Time Off
  • Tuition Reimbursement
  • Employee Assistance program
  • Employee Stock Purchase Plan

Stock Price

Growth & Insights and Company News

6 month growth

0%

1 year growth

0%

2 year growth

1%
Yahoo Finance
Nov 4th, 2026
Inspire Medical Systems swings to $24.4M loss on $206.7M revenue; shares fall 7.9%

Inspire Medical Systems reported third-quarter revenue of $206.7 million and a net loss of $24.4 million. Its shares fell 7.9% on the day of the release to $61.90. The stock is down 13.2% over seven days and 32.9% so far this year. It is up 3% over 90 days. One popular valuation narrative puts fair value at $68.00, which implies the stock is 9% undervalued. That view rests on clearer reimbursement and coding, including new Category I CPT codes effective January 1, 2028. The stock trades at 17.8 times earnings, below peers at 24.7 times and the US medical equipment industry at 23.8 times. A discounted cash flow model gives $54.34 a share, which suggests it is overvalued. Risks include lingering WISeR-related disruption and legal scrutiny of the Inspire V launch.

Yahoo Finance
Nov 3rd, 2026
Inspire Medical Q3 revenue falls 7.9% to $206.7M as coding hurdles ease

Inspire Medical Systems reported third-quarter revenue of $206.7 million, down 7.9% from a year earlier but up 3% from the previous quarter. Stronger US sales offset weaker international results, while coding and reimbursement problems continued to weigh on results. The company posted an operating loss of $28.7 million, against operating income of $9.6 million a year earlier. Restructuring charges tied to Project Horizon totalled $24.1 million. It ended the quarter with $453.1 million in cash and investments and no debt. Inspire narrowed its full-year revenue outlook to $850 million to $860 million. It expects low-single-digit revenue growth in 2027. Chief executive officer Tim Herbert said the company is "in a much more favorable position with coding" than a quarter ago.

Yahoo Finance
Oct 30th, 2026
Monolithic Power and Medpace make our watchlist; Inspire Medical's $898.7M revenue raises concern

StockStory has named two high-flying stocks to watch and one to avoid, warning that expensive shares leave little room for error. It advises selling Inspire Medical Systems (NYSE:INSP), which makes an implantable device for obstructive sleep apnea. Revenue of $898.7 million is subscale, and it forecasts a 3.4% decline over the next 12 months. The shares trade at $69.10, or 52.2x forward earnings. Monolithic Power Systems (NASDAQ:MPWR), a power management chipmaker, grew revenue 27.6% a year over five years. Earnings per share rose 29.9% a year. Its $1,191 share price equals 35.9x forward earnings. Medpace (NASDAQ:MEDP), a clinical trial services provider, averaged 18.7% organic revenue growth over two years. It trades at $663.33, or 35.7x forward earnings.

American Market News
Oct 12th, 2026
Inspire Medical Systems (NYSE:INSP) stock price up 4% - here's what happened.

Inspire Medical Systems (NYSE:INSP) stock price up 4% - here's what happened. Posted by ABMN Staff on Oct 12th, 2026 Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s stock price shot up 4% on Monday. The company traded as high as $71.66 and last traded at $71.6680. 119,753 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,067,725 shares. The stock had previously closed at $68.89. Analysts set new price targets. INSP has been the topic of a number of analyst reports. Piper Sandler lifted their price target on Inspire Medical Systems from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 4th. Evercore set a $54.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Weiss Ratings raised shares of Inspire Medical Systems from a "sell (d)" rating to a "sell (d+)" rating in a research note on Tuesday, September 22nd. Barclays started coverage on shares of Inspire Medical Systems in a report on Tuesday, October 6th. They issued an "underweight" rating and a $65.00 target price for the company. Finally, Zacks Research downgraded shares of Inspire Medical Systems from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.29. Inspire Medical Systems price performance. Discover more Stock trading platform Stock market analysis Stock price tracker The company has a market cap of $2.08 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 5.21 and a beta of 0.73. The stock has a fifty day moving average price of $65.23 and a 200-day moving average price of $54.18. Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.24) by $0.38. The business had revenue of $200.58 million for the quarter, compared to the consensus estimate of $194.72 million. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%. Inspire Medical Systems's revenue for the quarter was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 earnings per share. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 1.24 earnings per share for the current year. Insiders place their bets. In other news, insider Jason Kelly sold 963 shares of the company's stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $59.55, for a total value of $57,346.65. Following the transaction, the insider owned 18,985 shares in the company, valued at $1,130,556.75. This represents a 4.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.20% of the stock is currently owned by company insiders. Institutional trading of Inspire Medical Systems. Several institutional investors have recently made changes to their positions in INSP. EverSource Wealth Advisors LLC raised its holdings in Inspire Medical Systems by 1,115.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 632 shares of the company's stock valued at $33,000 after acquiring an additional 580 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Inspire Medical Systems by 379.0% during the 2nd quarter. Versant Capital Management Inc now owns 958 shares of the company's stock worth $43,000 after purchasing an additional 758 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Inspire Medical Systems by 85.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,221 shares of the company's stock worth $54,000 after purchasing an additional 561 shares in the last quarter. State of Wyoming grew its holdings in shares of Inspire Medical Systems by 83.7% during the 1st quarter. State of Wyoming now owns 1,343 shares of the company's stock worth $69,000 after purchasing an additional 612 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Inspire Medical Systems during the second quarter valued at approximately $78,000. 94.91% of the stock is currently owned by institutional investors and hedge funds. About Inspire Medical Systems. Inspire Medical Systems, Inc is a medical technology company focused on developing and commercializing treatments for obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company's primary product is the Inspire therapy system, an implantable device designed for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefits from continuous positive airway pressure (CPAP) therapy. The Inspire system uses an implantable pulse generator, a stimulation lead and a sensing lead. Receive News & Ratings for Inspire Medical Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inspire Medical Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Yahoo Finance
Aug 20th, 2026
BrightSpring Health Services posts 23.9% revenue growth as Solventum and Inspire Medical face headwinds

BrightSpring Health Services stands out as a strong long-term healthcare investment, whilst Solventum and Inspire Medical Systems face headwinds, according to recent analysis. Healthcare stocks have surged 27.5% over the past six months, outperforming the S&P 500 by 16.2 percentage points. However, increased venture capital has intensified competition across the sector. BrightSpring, which provides home health care, hospice, and pharmacy services, has achieved 23.9% annual revenue growth over the past two years. Analysts forecast 14.1% revenue growth for the next 12 months. Conversely, Solventum faces weak demand with flat revenue expected, whilst its free cash flow margin has declined 18.2 percentage points over five years. Inspire Medical Systems confronts a forecasted revenue decline of 3.5% for the upcoming year.

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