Inspire Medical Systems, Inc. Income Statement
INSP / Health Care|10 years of annual SEC 10-K data (FY2016-FY2025)
Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 10 fiscal years. All figures from audited SEC 10-K filings.
Inspire Medical Systems, Inc. reported $912M in revenue and $145M in net income for FY2025. Revenue has grown at a 56.3% compound annual rate over the past 9 years.
Based on SEC 10-K filings.
Key Data Points
- Altman Z-Score 4.03 (safe zone, above 2.9 threshold)
- Low earnings quality (accrual-heavy earnings)
Data sourced from SEC EDGAR filings. Not investment advice.
| Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $912.0M | $802.8M | $624.8M | $407.9M | $233.4M | $115.4M | $82.0M | $50.6M | $28.6M | $16.4M |
| Cost of Revenue | $133.2M | $123.0M | $96.6M | $66.1M | $33.3M | $17.6M | $13.6M | $10.1M | $6.0M | $3.9M |
| Gross Profit | $778.8M | $679.8M | $528.2M | $341.7M | $200.1M | $97.8M | $68.4M | $40.5M | $22.5M | $12.5M |
| SG&A Expense | $624.6M | $529.6M | $452.0M | $320.7M | $202.6M | $127.9M | $90.5M | $53.5M | $32.4M | $22.7M |
| R&D Expense | $103.2M | $114.1M | $116.5M | $68.6M | $37.4M | $26.1M | $12.8M | $7.4M | $6.2M | $7.1M |
| Operating Income | $51.0M | $36.1M | -$40.3M | -$47.6M | -$39.9M | -$56.2M | -$34.9M | -$20.4M | -$16.0M | -$17.3M |
| Interest Expense | - | - | $0 | $1.7M | $2.1M | $2.1M | $2.1M | $3.3M | $1.8M | $1.3M |
| Income Tax | -$79.7M | $4.9M | $1.2M | $613.0K | $72.0K | $115.0K | $40.0K | $0 | $0 | $0 |
| Net Income | $145.4M | $53.5M | -$21.2M | -$44.9M | -$42.0M | -$57.2M | -$33.2M | -$21.8M | -$17.5M | -$18.5M |
| EPS (Basic) | $4.95 | $1.80 | -$0.72 | -$1.60 | -$1.40 | - | - | - | - | - |
| EPS (Diluted) | $4.89 | $1.75 | -$0.72 | -$1.60 | -$1.40 | -$1.50 | -$14.88 | - | - | - |
| Shares Outstanding | 28.6M | 29.7M | 29.6M | 29.0M | 27.1M | 24.1M | 23.4M | 14.6M | 1.2M | 1.1M |
| Gross Margin | 85.4% | 84.7% | 84.5% | 83.8% | 85.7% | 84.7% | 83.4% | 80.1% | 78.9% | 76.2% |
| Operating Margin | 5.6% | 4.5% | -6.5% | -11.7% | -17.1% | -48.7% | -42.5% | -40.3% | -56.0% | - |
| Profit Margin | 16.0% | 6.7% | -3.4% | -11.0% | -18.0% | -49.6% | -40.5% | -43.1% | -61.3% | -112.8% |