InspireMD’s Q4 2025 revenues jumped 62% year-over-year, driven by US and international sales, with US gross margins reaching about 70%. The company posted a net loss of $11.8 million, up from $9.2 million last year, and ended the period with $54.2 million in cash and equivalents.

The Seaguard Prime launch in the US accounted for a significant portion of growth, with over 500 cases completed and approvals secured in key integrated delivery networks. The US commercial rollout remains in a controlled phase across roughly 80 active centers, with more than 200 additional centers in the evaluation pipeline.

InspireMD is advancing its clinical pipeline, notably with the SeaGuardians 2 trial aimed at expanding product indications and supporting broader market adoption. Multiple other programs and studies are in progress, positioning the company for future revenue streams beyond the initial launch.

For fiscal 2026, international sales are expected to grow at rates similar to recent quarters, while the US launch is projected to see moderate growth in the first half and acceleration in the second half upon anticipated TCA indication and enhanced clinical performance of Seaguard Prime. Management highlights a strong cash runway to support commercial expansion and ongoing trials.