Inspire Q4 2023 Earnings Report
Key Takeaways
Inspire Medical Systems announced a 40% increase in revenue for the fourth quarter of 2023, reaching $192.5 million. The company reported a net income of $14.8 million, or $0.49 per diluted share, and expanded its U.S. presence by adding 78 new medical centers and 13 new sales territories. They reaffirm full year 2024 revenue to be in the range of $775 million to $785 million.
Revenue increased by 40% year-over-year to $192.5 million.
Net income was $14.8 million, with diluted net income per share of $0.49.
78 new U.S. centers and 13 new U.S. sales territories were added.
Reaffirms full year 2024 revenue to be in the range of $775 million to $785 million.
Inspire
Inspire
Inspire Revenue by Geographic Location
Forward Guidance
Inspire is maintaining its full year 2024 revenue guidance of between $775 million to $785 million, which represents growth of 24% to 26% over full year 2023 revenue of $624.8 million. Gross margin for the full year is anticipated to be in the range of 83% to 85%.
Positive Outlook
- Full year 2024 revenue guidance of between $775 million to $785 million.
- Revenue growth of 24% to 26% over full year 2023.
- Gross margin for the full year is anticipated to be in the range of 83% to 85%.
- Activate 52 to 56 new U.S. medical centers implanting Inspire therapy during each quarter of 2024.
- Add 12 to 14 new U.S. sales territories during each quarter of 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income