InspireMD Q2 revenue beats estimates on international demand
NSPR•Outlook and product timeline
The company expects FDA decisions on CGuard Prime 80 cm and the original CGuard platform later this year.
InspireMD also plans an FDA submission for an improved CGuard Prime 135 cm delivery system before year-end. The company expects annualized savings of about $9 million from recent cost-cutting actions.
Quarterly results and analyst snapshot
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $1.77 million | $1.38 million (3 analysts) |
| Q2 Net Loss | Beat | $14.32 million | $16.61 million (3 analysts) |
| Q2 Income From Operations | Beat | -$14.45 million | -$16.75 million (3 analysts) |
| Q2 Gross Loss | $774,000 | ||
| Q2 Loss Per Basic Share | $0.17 | ||
| Q2 Operating Expenses | $13.67 million |
The current average analyst rating on the shares is "buy," with 3 "strong buy" or "buy" recommendations and no "hold" or "sell" ratings. The median 12-month price target is $4.00, about 307.2% above the August 14 closing price of $0.98.
Q2 revenue beats estimates despite U.S. recall impact
InspireMD Inc's second-quarter revenue was flat year over year but beat analyst expectations, while net loss and income from operations also came in better than estimates.
The quarter was impacted by a voluntary U.S. recall of the CGuard Prime 135 cm delivery system, which led to negative U.S. revenue and inventory impairment. International revenue rose 21% on increased demand across most countries.
