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Mar 31
InspireMD Q1 2025 Earnings Report
InspireMD reported a slight increase in revenue, but a significant increase in net loss due to higher operating expenses.
Key Takeaways
InspireMD, Inc. experienced a slight revenue increase in Q1 2025, reaching $1,529,000, up 1.2% from the previous year. However, the company's net loss widened significantly to $11,166,000, a 58.8% increase, primarily driven by substantial increases in research and development, selling and marketing, and general and administrative expenses. The company continues to face liquidity challenges, with an accumulated deficit and negative operating cash flows, raising substantial doubt about its ability to continue as a going concern.
Revenue increased by 1.2% to $1,529,000 in Q1 2025, driven by continued adoption of CGuard technology and sales in the CGUARDIANS II pivotal study.
Net loss significantly widened by 58.8% to $11,166,000, primarily due to increased operating expenses.
Operating expenses surged by $4,046,000, with substantial increases in R&D, selling and marketing, and general and administrative costs.
The company's liquidity remains a concern, with an accumulated deficit and negative operating cash flows, indicating substantial doubt about its ability to continue as a going concern.
InspireMD
InspireMD
InspireMD Revenue by Segment
InspireMD Revenue by Geographic Location
Revenue by Segment
CGuard EPS Revenue
CapyFin.comRevenue by Geographic Location
Italy Revenue
CapyFin.comGermany Revenue
CapyFin.comPoland Revenue
CapyFin.comOther Countries Revenue
CapyFin.com Forward Guidance
InspireMD expects to continue incurring losses and negative cash flows until its CGuard EPS product reaches commercial profitability. The company plans to raise additional capital through equity securities, debt, or strategic partnerships to fund operations.
Positive Outlook
- Continued commercialization of CGuard EPS is expected to drive future revenue growth.
- Ongoing efforts to raise additional capital through equity securities, debt, or strategic partnerships.
- Potential for increased patient screening for carotid artery disease with expanded treatment options.
- FDA approval for CGuard Prime carotid stent system is anticipated in Q3 2025, opening the U.S. market.
- Initiation of CGUARDIANS II pivotal study for CGuard Prime 80cm Carotid Stent System during TCAR procedures.
Challenges Ahead
- Substantial doubt about the company's ability to continue as a going concern due to recurring losses and negative cash flows.
- Uncertainty regarding the success of obtaining sufficient financing on reasonable terms.
- Potential need to reduce activities, curtail, or cease operations if capital raising is unsuccessful.
- Risks associated with geopolitical instability in Israel, including potential disruptions to manufacturing and supply chain.
- Impact of foreign exchange fluctuations and distributors managing inventory levels in anticipation of CGuard Prime approval in Europe.