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Inspire Medical Systems Inc (INSP) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

HEALTHCARE · MEDICAL DEVICES · DATA UPDATED 2026-09-13

Inspire Medical Systems Inc (INSP) operates in the MEDICAL DEVICES industry and is headquartered in Golden Valley, United States with about 1,333 employees. Its market capitalization is roughly $2 billion. In the fiscal year ended 2025-12-31, INSP reported $912M in revenue and $145M in net income.

Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally.

Interactive charts & full statements → Open the INSP valuation workbench →

INSP Revenue & Earnings History — Annual Income Statement

Income statementTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-31
Total Revenue$899M$912M$803M$625M$408M$233M$115M$82M$51M$29M$16M$8M
Gross Profit$774M$779M$680M$528M$342M$200M$98M$68M$41M$23M$13M$5M
Gross Margin %86.1%85.4%84.7%84.5%83.8%85.7%84.7%83.4%80.1%78.9%76.2%64.9%
Operating Income (EBIT)$54M$51M$36M($40M)($48M)($40M)($56M)($35M)($20M)($16M)($17M)($20M)
Operating Margin %6.0%5.6%4.5%-6.5%-11.7%-17.1%-48.7%-42.5%-40.3%-56.0%-105.0%-247.1%
Net Income$135M$145M$54M($21M)($45M)($42M)($57M)($33M)($22M)($18M)($19M)($21M)
Net Margin %15.0%16.0%6.7%-3.4%-11.0%-18.0%-49.6%-40.5%-43.1%-61.3%-112.8%-266.3%
EBITDA$83M$80M$65M($40M)($41M)($39M)($54M)($31M)($18M)($15M)($17M)($20M)
Earnings Per Share (EPS)$4.61$4.89$1.75$-0.72$-1.60$-1.54$-2.19$-1.40$-1.50$-1.30$-1.49$-1.71
Shares Outstanding (M)29M30M31M29M28M27M26M24M15M13M12M12M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSP Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Total Revenue$201M$205M$269M$225M$217M$201M$240M$203M
Gross Profit$171M$177M$233M$193M$182M$171M$204M$171M
Gross Margin %85.5%86.5%86.6%85.9%84.0%84.8%85.0%84.1%
Operating Income (EBIT)($1M)($1M)$46M$10M($3M)($1M)$32M$14M
Operating Margin %-0.3%-0.5%17.1%4.3%-1.5%-0.7%13.3%7.0%
Net Income$0M($11M)$136M$10M($4M)$3M$35M$18M
Net Margin %0.2%-5.5%50.6%4.4%-1.7%1.5%14.7%9.1%
EBITDA$4M$8M$54M$17M$1M$7M$57M$22M
Earnings Per Share (EPS)$0.01$-0.39$4.66$0.34$-0.12$0.10$1.15$0.60
Shares Outstanding (M)29M29M29M30M30M30M31M31M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSP Free Cash Flow History

Cash flowTTM → 2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-312015-12-31
Cash from Operations (CFO)$157M$117M$130M$25M$12M($20M)($53M)($33M)($19M)($16M)($18M)($22M)
Capital Expenditures (CapEx)$40M$38M$39M$24M$9M$5M$2M$3M$0M$0M$0M$0M
Free Cash Flow (FCF)$117M$78M$91M$1M$2M($25M)($56M)($36M)($19M)($16M)($18M)($23M)
FCF Margin %13.0%8.6%11.3%0.2%0.6%-10.6%-48.1%-44.0%-37.4%-56.7%-111.1%-282.1%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSP Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-06-302026-03-312025-12-312025-09-302025-06-302025-03-312024-12-312024-09-30
Cash from Operations (CFO)$23M$13M$52M$69M$3M($7M)$69M$52M
Capital Expenditures (CapEx)$9M$10M$11M$10M$9M$8M$7M$8M
Free Cash Flow (FCF)$14M$3M$42M$58M($6M)($15M)$62M$44M
FCF Margin %7.0%1.5%15.5%25.9%-2.9%-7.5%25.9%21.8%
Dividends Paid$6M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

INSP Balance Sheet History

Balance sheet2026-06-302025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-312016-12-31
Total Assets$926M$907M$808M$677M$565M$295M$281M$181M$200M$25M$13M
Cash & Cash Equivalents$128M$105M$150M$186M$442M$214M$191M$23M$97M$9M$7M
Total Liabilities$100M$126M$119M$104M$69M$66M$51M$41M$36M$24M$20M
Total Debt (Short + Long-Term)$0M$2M$2M$0M$1M$25M$28M$25M$25M$33M$16M
Total Shareholders' Equity$826M$781M$690M$573M$496M$229M$230M$140M$164M$1M($7M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive INSP viewer.

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