Inspire Medical Systems Reports 27% Q4 Revenue Growth, Raises 2026 Guidance
In Q4 2025, Inspire Medical Systems posted $142.3 million in revenue, a 27% year-over-year increase, and delivered 3,600 hypoglossal nerve stimulation implants, lifting adjusted EPS to $0.31. Management raised full-year 2026 revenue guidance to $580–600 million, citing strong therapy adoption and supply-chain improvements.
1. Q4 2025 Financial Results
Inspire Medical Systems generated $142.3 million in Q4 2025 revenue, marking a 27% increase over Q4 2024. Adjusted EPS rose to $0.31 from $0.24, driven by higher procedure volumes and improved gross margins.
2. Device Shipments and Adoption
The company implanted 3,600 hypoglossal nerve stimulation systems during the quarter, a record quarterly shipment total reflecting accelerated physician adoption and expanded patient referrals.
3. 2026 Guidance and Outlook
Management raised full-year 2026 revenue guidance to a range of $580–600 million, up from prior forecasts of $560–580 million. Executives cited ongoing supply-chain stabilization and growing reimbursement coverage as tailwinds for sustained growth.
4. Margin and Cash Position
Improved supply-chain efficiency contributed to a 26% adjusted EBITDA margin in Q4, up from 22% a year earlier. Inspire ended the period with $150 million in cash and equivalents, supporting planned R&D and market expansion initiatives.