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Companies / Health Care / Inspire Medical Systems, Inc.
INSP

Inspire Medical Systems, Inc.

Health CareSurgical & Medical Instruments
Ticker INSPGOLDEN VALLEY, MNFiscal year ends DecemberBook value per share $28.69Diluted shares 28.8M

Inspire Medical Systems, Inc. (NYSE: INSP) develops and commercializes minimally invasive treatments for obstructive sleep apnea (OSA), principally its implantable Inspire system for patients with moderate to severe OSA who cannot tolerate or do not benefit from positive airway pressure therapy. The closed-loop system… From the company’s description.

Over the twelve months to Sep 30, 2026, Inspire Medical Systems, Inc. reported revenue of $880.94M, down 0.2% from a year earlier, and net income of $100.72M. Its operating margin was 1.8%, and operations generated $134.97M in cash. In fiscal 2025, it reported revenue of $911.98M, up 13.6% from fiscal 2024, and net income of $145.42M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$911.98MFY2025
+13.6% year over year
Last 12 mo $880.94M
5.59%FY2025
+1.1 percentage points
Last 12 mo 1.79%
$145.42MFY2025
+171.8% year over year
Last 12 mo $100.72M
18.62%FY2025
+10.9 percentage points
Last 12 mo 12.18%
Cash & financing
$116.98MFY2025
−10.2% year over year
Last 12 mo $134.97M
$78.48MFY2025
−13.9% year over year
Last 12 mo $97.89M
—
29.8MFY2025
−2.6% year over year
Last 12 mo 28.8M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Inspire Medical Systems, Inc. does

In the company’s own words

Inspire Medical Systems, Inc. (NYSE: INSP) develops and commercializes minimally invasive treatments for obstructive sleep apnea (OSA), principally its implantable Inspire system for patients with moderate to severe OSA who cannot tolerate or do not benefit from positive airway pressure therapy. The closed-loop system monitors breathing and stimulates the hypoglossal nerve to help keep the airway open during sleep. Inspire sells to hospitals and ambulatory surgery centers in the United States and select European markets through its direct sales organization, and uses distributors in Japan, Singapore, Hong Kong, and Thailand. Its customers include healthcare facilities and providers, while treatment is generally reimbursed by commercial insurers and government programs. The company reports one operating business focused on Inspire therapy; related products include the Inspire IV and V systems, the SleepSync patient management platform, and the Inspire Sleep app. Inspire therapy has been commercially available in Europe since 2011 and received U.S. FDA approval in 2014; the business originated as a spin-off from Medtronic in 2007. Physicians have treated more than 125,000 patients with the therapy across the United States, Europe, and Asia. Its website is https://www.inspiresleep.com/.

Company details
Sector
Health Care
Industry (SIC)
Surgical & Medical Instruments
Headquarters
GOLDEN VALLEY, MN
Fiscal year end
December
CIK
1609550
SIC
3841

Financial performance, year by year

Fiscal 2018–2025 · USD
$-154.12M$136.63M$427.39M$718.14M$1.01B20182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Inspire Medical Systems, Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

261
funds hold it
0 of 35
superinvestors hold it
$587.95M
held by funds, at market
43.0%
of shares held by funds

Largest fund holders · Inspire Medical Systems, Inc.’s weight in each

VANGUARD HEALTH CARE FUND
VGHCX · VANGUARD SPECIALIZED FUNDS
—of fund net assets
iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.06%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.04%of fund net assets
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.02%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

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