InspireMD Q1 2022 Earnings Report
Key Takeaways
InspireMD reported a 17.6% increase in revenue for Q1 2022, driven by a 19.8% increase in CGuard EPS sales volume. The company's net loss increased due to higher operating expenses related to the C-Guardians FDA study and share-based compensation. The company continues to expand its delivery systems around CGuard and expects to launch innovative delivery solutions in early 2023.
Revenue increased by 17.6% to $1,183,000 compared to Q1 2021.
CGuard EPS sales volume increased by 19.8% to $1,161,000 compared to Q1 2021.
Gross profit increased by $16,000 to $122,000 compared to Q1 2021.
Net loss totaled $4,481,000, or $0.57 per share, compared to a net loss of $3,243,000, or $0.53 per share, for the same period in 2021.
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InspireMD Revenue by Segment
Forward Guidance
InspireMD anticipates launching new delivery solutions such as CGuard Prime and SwitchGuard in early 2023 to facilitate greater utilization of their devices as a first-line solution for carotid artery disease management.