Inspire Medical Systems, Inc.
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Inspire Medical Systems, Inc. - overview
Established
2007
Location
Golden Valley, MN, US
Primary Industry
Medical Devices & Equipment
About
Inspire Medical Systems, Inc. is a US-based company focused on developing innovative solutions for obstructive sleep apnea (OSA) treatment, primarily through its Inspire® therapy system that offers a non-invasive alternative to conventional CPAP therapies. Inspire Medical Systems, Inc. specializes in the development and commercialization of treatments for obstructive sleep apnea.
Founded in 2007 in Golden Valley, US, the company has raised a total of USD 247. 00 mn across multiple funding rounds, with the most recent being a Private Placement/Follow on of USD 247. 00 mn in August 2022. The company is led by CEO Tim Herbert, who has a background in healthcare technology.
Inspire Medical Systems, Inc. specializes in the development and commercialization of innovative treatment solutions for obstructive sleep apnea (OSA). Their core product, the Inspire® therapy system, consists of an implantable device designed to keep the airway open during sleep, thereby allowing patients to breathe regularly without the use of traditional Continuous Positive Airway Pressure (CPAP) masks or hoses. The device is managed via a remote and a dedicated mobile application, allowing for convenient therapy management.
The system is aimed particularly at individuals who have struggled with CPAP treatment and includes FDA-approved options for pediatric patients with Down Syndrome. Inspire's products are primarily marketed in the United States through Inspire-trained healthcare providers, ensuring accessibility to a broad customer base seeking effective OSA solutions. Inspire Medical Systems reported revenue of USD 802. 80 mn for the most recent year, 2024, with an EBITDA of USD 36.
08 mn. The company generates revenue through the sale of its Inspire® therapy system, which is covered by most commercial insurance plans, including Medicare and Department of Veterans Affairs (VA) programs. Transactions generally occur directly between the company and healthcare providers, creating a B2B model where hospitals or clinics purchase the system for patient use. Partnerships with insurance providers further support revenue generation by ensuring patients have financial coverage for the therapy.
Inspire Medical Systems is expected to leverage its recent funding of USD 247 million from its August 2022 Private Placement to enhance its product offerings and expand its market reach. The company is focused on developing new products to improve OSA treatment, although specific upcoming product releases have not been detailed. Additionally, Inspire aims to penetrate new geographic regions, which may include international markets, to broaden accessibility to its innovative therapy solutions. The company raised USD 108 million in an IPO in May 2018, selling 6.
75 million shares at USD 16 per share on the NASDAQ, indicating a solid foundation for continued growth.
Current Investors
Kleiner Perkins, US Venture Partners, Synergy Life Science Partners
Primary Industry
Medical Devices & Equipment
Sub Industries
Therapeutic Devices
Website
www.inspiresleep.com
Verticals
HealthTech
Company Stage
Mature
Total Amount Raised
Subscriber access only
Inspire Medical Systems, Inc. - financials
| Fiscal Year Ended | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 50,593,000 | 82,050,000 | 115,381,000 | 233,394,000 | 407,856,000 | - | - | - |
| % Revenue Growth (YoY) | - | 62.2% | 40.6% | 102.3% | 74.7% | - | - | - |
| EBITDA (USD) | (19,985,000) | (34,402,000) | (55,368,000) | (38,618,000) | (45,734,000) | - | - | - |
| Operating Income (USD) | (20,378,000) | (34,897,000) | (56,208,000) | (39,850,000) | (47,592,000) | - | - | - |
| Operating Margin | (40.3%) | (42.5%) | (48.7%) | (17.1%) | (11.7%) | - | - | - |
| % EBITDA Margin | (39.5%) | (41.9%) | (48.0%) | (16.5%) | (11.2%) | - | - | - |
| NET Income (USD) | (21,828,000) | (33,243,000) | (57,203,000) | (42,042,000) | (44,881,000) | - | - | - |
| % Net Margin | (43.1%) | (40.5%) | (49.6%) | (18.0%) | (11.0%) | - | - | - |
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