Inspire Medical Systems, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:02 pm EST
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Inspire Medical Systems, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 192.51 million compared to USD 137.9 million a year ago. Net income was USD 14.76 million compared to USD 3.15 million a year ago. Basic earnings per share from continuing operations was USD 0.5 compared to USD 0.11 a year ago. Diluted earnings per share from continuing operations was USD 0.49 compared to USD 0.1 a year ago.
For the full year, the company reported sales was USD 624.8 million compared to USD 407.86 million a year ago. Net loss was USD 21.15 million compared to USD 44.88 million a year ago. Basic loss per share from continuing operations was USD 0.72 compared to USD 1.6 a year ago. Diluted loss per share from continuing operations was USD 0.72 compared to USD 1.6 a year ago.
Inspire Medical Systems, Inc. is a medical technology company. The Company is focused on the development and commercialization of advanced, minimally invasive solutions for patients with obstructive sleep apnea (OSA). Its proprietary Inspire system is the FDA-approved neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA. The Company has developed a novel, closed-loop solution that continuously monitors a patientâs breathing and delivers mild hypoglossal nerve stimulation to maintain an open airway. The Company sell its Inspire system to hospitals and ambulatory surgery centers (ASCs) in the United States (U.S.) and in select countries in Europe and Japan through a direct sales organization and sells its Inspire system in Singapore and Hong Kong through distributors. Its direct sales force engages in sales efforts and promotional activities focused on ENT physicians and sleep centers.
INSPIRE MEDICAL SYSTEMS, INC. 
