Inspire Reports Q4 Revenue Growth to ~$269 M and 10%–11% 2026 Outlook
Inspire reported preliminary Q4 2025 revenue of $268.9–$269.1 million, up about 12% year-over-year, and full-year revenue of $911.8–$912.0 million, a 14% increase, then provided 2026 guidance of $1,003–$1,013 million (10%–11% growth). It also appointed Matt Osberg as Executive VP and CFO effective January 19, 2026.
1. Strong Preliminary Q4 and Full Year 2025 Revenue Performance
Inspire Medical Systems reported preliminary, unaudited revenue of $268.9 million to $269.1 million for the fourth quarter of 2025, representing an approximate 12% increase over the same period in 2024. For the full year ended December 31, 2025, preliminary revenue came in at $911.8 million to $912.0 million, up roughly 14% year-over-year. Management highlighted that momentum accelerated in the second half of the year following the mid-year launch of the Inspire V system and strong adoption by sleep apnea centers across North America and Europe. These results reflect continued penetration of the proprietary neurostimulation platform and significant progress in expanding the company’s direct sales footprint.
2. Initial 2026 Revenue Guidance of 10%–11% Growth
Inspire issued initial full-year 2026 revenue guidance of $1,003 million to $1,013 million, implying 10% to 11% growth compared to full year 2025. This outlook does not incorporate any benefit from anticipated reimbursement rate increases, which the company views as a positive step but has not yet factored into its model. Inspire continues to work with relevant agencies to clarify coding and secure full alignment on coverage, which could drive additional upside. The guidance underscores management’s confidence in sustained market adoption of the Inspire V system and the company’s ability to leverage its established billing code 64568 for procedures throughout the year.
3. Appointment of Matt Osberg as Executive Vice President and CFO
Inspire announced the appointment of Matt Osberg as Executive Vice President and Chief Financial Officer, effective January 19, 2026. Osberg brings over 20 years of global financial leadership experience, most recently serving as Executive Vice President and CFO at Apogee Enterprises and previously holding senior finance roles at Helen of Troy and Best Buy. His appointment follows a decade of growth under outgoing CFO Richard Buchholz and is aimed at strengthening Inspire’s financial strategy as the company enters its next phase of commercialization and scale. CEO Tim Herbert emphasized that Osberg’s public company expertise will support Inspire’s ongoing initiatives, including reimbursement advancement and international expansion.