| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 200.58 | 2.0% | 7.6% |
| Total Income | 200.58 | 2.0% | 7.6% |
| Expenditure | 201.10 | 2.2% | 8.8% |
| PBT | 3.12 | 30.0% | 233.9% |
| Net Profit | 0.31 | 102.8% | 108.6% |
| OPM | -0.26% | 0.29pp | 1.27pp |
| NPM | 0.16% | 5.68pp | 1.81pp |
| EPS | 0.01 | 102.6% | 108.3% |
Inspire Medical Systems Announces Q2 2026 Results, Raises 2026 Guidance
04 Aug 2026 · 4 Aug, 1:38 am
Summary
Inspire Medical Systems reported second quarter revenue of $200.6 million, a decrease of 7.6% year-over-year, primarily due to impacts from the evolving coding and reimbursement environment. However, gross margin improved to 85.5%, and operating cash flow was a strong $23.2 million. The company is raising its full-year 2026 revenue guidance to between $835 million and $875 million and announced a strategic growth plan, Project Horizon, aimed at generating approximately $30 million of annualized growth investment capacity.
Key Highlights
- 1
Inspire Medical Systems generated second quarter revenue of $200.6 million.
- 2
The company reported second quarter diluted EPS of $0.01 and adjusted diluted EPS of $0.14.
- 3
Second quarter operating cash flow was $23.2 million.
- 4
Gross margin increased 150 basis points to 85.5% in the second quarter.
- 5
The company announced a strategic growth plan designed to unlock and redeploy $30 million for growth initiatives.
- 6
Full year 2026 revenue outlook was raised to be in the range of $835 million to $875 million.
- 7
Full year 2026 adjusted operating margin is now expected to be in the range of 4% to 6%.
Management Comments
Tim Herbert
Our second quarter results reflect the increased discipline and focus we are bringing to the business as we continue to support customers through the evolving coding and reimbursement environment and invest in the long-term adoption of Inspire therapy. We are also announcing a strategic growth plan designed to generate approximately $30 million of annualized growth investment capacity, which we intend to redeploy into targeted growth initiatives. We believe these actions will strengthen our operating foundation, sharpen our focus on the highest-return opportunities, and position Inspire for sustainable growth and long-term value creation.
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