Foreign exchangemixed · 2 filings
“We have also previously experienced adverse impacts on our revenue due to the prior delay in obtaining EU MDR approval of our silicone-based leads and foreign currency exchange rates.”10-Q · Nov 3, 2025 ↗
Inspire Medical Systems, Inc.
INSP
Market read
Inspire Medical Systems, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company+2.5% todayVolume comparison unavailable
Market group0 of 22 activeRegional Banks · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- INSP's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if INSP's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 22 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- INSP's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements80
Verified relationships4
Evidence supporting the case
- Latest annual revenue changed +13.6% year over year.
- Operating margin changed +1.1 percentage points in the latest annual period.
- Net margin changed +9.3 percentage points in the latest annual period.
Evidence challenging the case
No qualifying adverse evidence was identified; that is not proof there is no downside.
Questions before a position
- P/E is 68% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 41% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
68.196m+5.7%12m-26.1%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$233.4M+102.3%$-1.54+4.6%
2022-12-31$407.9M+74.7%$-1.60+3.0%
2023-12-31$624.8M+53.2%$-0.72+4.4%
2024-12-31$802.8M+28.5%$1.75+4.2%
2025-12-31$912.0M+13.6%$4.89-2.6%
What management says matters
Persistent and emerging business drivers
Legal and regulatory exposuremixed · 2 filings
“We have continued to make Inspire IV systems available in the U.S.”10-Q · Nov 3, 2025 ↗
Product pipeline and R&Dnegative · 2 filings
“Research and development expenses decreased $2.0 million, or 7.1%, to $25.8 million, primarily due to an increase in internal cost allocations into SG&A and cost of goods sold, partially offset by an increase in sourcing costs and clinical studies expenses.”10-Q · May 4, 2026 ↗
Restructuring and cost reductionsnegative · 2 filings
“The change was primarily due to a decrease of $4.2 million in interest and dividend income due to lower cash, cash equivalents and investment balances and an impairment charge of $4.0 million on one of our strategic investments which occurred in the quarter e…”10-Q · Nov 3, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2.2× · EV/sales 2.1×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
68.19+2.5% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for INSP. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for INSP. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind INSP
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
MDTMedtronic plcpartnerFeb 13, 2026 ▾
“Research and Development Product Evolution and Next Generation Products The first Inspire device was developed by Medtronic Inc.”
LIVNLivaNova PLCcompetitorFeb 13, 2026 ▾
“Outside of the U.S., in addition to the Inspire therapy, other second-line therapy alternatives that compete with CPAP and PAP include therapies marketed by Nyxoah and LivaNova.”
NYXHFiling-linked namecompetitorFeb 13, 2026 ▾
“Currently, we have only one direct neurostimulation competitor in the US for the treatment of OSA, Nyxoah SA and its subsidiary Nyxoah, Inc.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 4 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
INSP is currently a Follower in the organic co-movement group Regional Banks. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for INSP; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.