Inspire Q1 2023 Earnings Report
Key Takeaways
Inspire Medical Systems reported an 84% year-over-year revenue increase in Q1 2023, reaching $127.9 million. The company expanded its reach with new centers and sales territories, while also achieving key milestones such as FDA approval for pediatric patients with Down syndrome and countrywide reimbursement in Belgium. They are raising their full year 2023 revenue guidance to between $580 million to $590 million.
Revenue increased by 84% year-over-year, reaching $127.9 million in Q1 2023.
Gross margin was 84.4% for the first quarter of 2023.
68 new centers were activated in the U.S., bringing the total to 973.
17 new U.S. sales territories were created, bringing the total to 242.
Inspire
Inspire
Inspire Revenue by Geographic Location
Forward Guidance
Inspire is increasing its full year 2023 revenue guidance to between $580 million to $590 million and maintaining its full year 2023 gross margin guidance of 83% to 85%. The Company is also maintaining its guidance relating to the opening of new U.S. medical centers of 52 to 56 per quarter, as well as its guidance of 12 to 14 new U.S. territories per quarter for the remainder of 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income