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Sep 30, 2022
InspireMD Q3 2022 Earnings Report
InspireMD's Q3 2022 financial results were announced, highlighting a 33.6% increase in total revenue and a 38.8% increase in CGuard EPS sales compared to Q3 2021.
Key Takeaways
InspireMD reported a 33.6% increase in total revenue for Q3 2022, driven by strong CGuard EPS sales growth. The company is progressing with its C-Guardian US IDE trial and anticipates full enrollment by the end of Q1 2023. However, the net loss increased compared to the same period in 2021.
Total revenue increased by 33.6% to $1,431,000 compared to Q3 2021.
CGuard EPS sales increased by 38.8% to $1,431,000 compared to Q3 2021.
Gross profit increased by 297.8% to $366,000 compared to Q3 2021.
Net loss totaled $4,529,000, or $0.58 per share, compared to a net loss of $4,071,000, or $0.53 per share, for the same period in 2021.
InspireMD
InspireMD
InspireMD Revenue by Segment
Revenue by Segment
CGuard EPS Revenue
CapyFin.com Forward Guidance
InspireMD anticipates a catalyst-rich 2023, driven by continued share gains in established markets, ongoing progress with the U.S. IDE trial, conversion of existing endovascular CAD procedures to CGuard, and the introduction of two new delivery systems.
Positive Outlook
- Continued share gains in established markets.
- Ongoing progress with the U.S. IDE trial.
- Conversion of existing endovascular CAD procedures to CGuard.
- Introduction of two new delivery systems: SwitchGuard TCAR and CGuard Prime TFEM.
- Addresses comprehensive needs for all vascular specialists treating Carotid disease and stroke.
Challenges Ahead
- Market acceptance of existing and new products
- Negative clinical trial results or lengthy product delays in key markets
- Inability to secure regulatory approvals for the sale of products
- Intense competition in the medical device industry
- The company will need to raise additional capital to meet our business requirements in the future and that such capital raising may be costly, dilutive or difficult to obtain