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Jun 30, 2021
InspireMD Q2 2021 Earnings Report
Reported strong procedural recovery and market demand of CGuard EPS, resulting in revenue increase.
Key Takeaways
InspireMD reported a significant revenue increase of 231.6% in Q2 2021, driven by a strong rebound in CGuard EPS sales. The company also made progress in its U.S. expansion efforts and product pipeline development.
Revenue increased by 231.6% to $1,038,000 compared to Q2 2020.
CGuard EPS sales volume increased by 276.0% year-over-year.
Gross profit increased to $262,000 from a gross loss of $120,000 in Q2 2020.
Net loss for the quarter was $3,507,000, or $0.46 per share.
InspireMD
InspireMD
InspireMD Revenue by Segment
Revenue by Segment
CGuard EPS Revenue
CapyFin.com Forward Guidance
InspireMD is focused on expanding the use of CGuard EPS globally, including the U.S. and Asia, and advancing its product pipeline with CGuard Prime and a new embolic protection device.
Positive Outlook
- Initiating U.S. FDA C-Guardians IDE trial
- Listing shares on Nasdaq Capital Market
- Appointing MedTech marketing executive to Board of Directors
- Forming a Medical Advisory Board
- Advancing global growth plans in Asian markets
Challenges Ahead
- Intense competition in the medical device industry
- Reliance on single suppliers for certain product components
- Need to raise additional capital to meet business requirements
- Conducting business in multiple foreign jurisdictions
- Market acceptance of existing and new products