SequelSEC

Inspire Medical Systems, Inc. INSP

Surgical & Medical Instruments & Apparatus · CIK 0001609550 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$898.74M
Fiscal year ended 2026-06-30
Operating income
$54.12M
Fiscal year ended 2026-06-30
Free cash flow
$117.09M
Fiscal year ended 2026-06-30

Valuation, from the filing

Public float$3.80BMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$132.96Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income26.1×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue4.2×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity4.9×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

How this compares in its industry

Percentile among the Surgical & Medical Instruments & Apparatus filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.

MeasureReportedPercentile
Effective tax rate-121.4%6th
Gross margin85.4%94th
Net margin15.9%89th
Current ratio6.08x81th
FCF margin8.6%76th
Operating margin5.6%72th
SBC / revenue14.3%67th
CapEx / revenue4.2%58th
R&D / revenue11.3%47th
Revenue YoY growth13.6%48th

Inspire Medical Systems, Inc. (INSP) reported revenue of $898.74M and net income of $135.04M for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Inspire Medical Systems, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Surgical & Medical Instruments & Apparatus.

Income

Inspire Medical Systems, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Revenue$898.74M
Cost of revenue$124.64M
Gross profit$774.10M
Operating income$54.12M
Net income$135.04M
Research & development$99.68M
Weighted-average diluted sharesUnavailable
Pretax income$69.38M
Income tax expense-$65.66M
Diluted EPSUnavailable
Selling, general & administrative$620.30M
General & administrativeUnavailable
Selling & marketingUnavailable

Balance

Inspire Medical Systems, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Cash & equivalents$127.76M
Total assets$925.99M
Current assets$608.67M
Total liabilities$100.41M
Current liabilities$71.18M
Total equity incl. NCI$825.58M
Temporary (mezzanine) equityUnavailable
Inventory$170.45M
Accounts receivable$103.34M
GoodwillUnavailable
Long-term debtUnavailable
Accounts payableUnavailable

Cash flow

Inspire Medical Systems, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Operating cash flow$157.07M
Capital expenditures$39.98M
Investing cash flow-$31.26M
Financing cash flow-$104.96M
Net change in cash$20.83M
Stock-based compensation$119.40M
Common dividends paidUnavailable
Common share repurchases$100.01M
Depreciation & amortization$17.31M

Derived

Inspire Medical Systems, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2026-06-30
Free cash flow$117.09M
Gross margin86.1%
Operating margin6.0%
FCF margin13.0%
SBC / revenue13.3%
Current ratio8.55x
Revenue YoY growth4.3%
Net margin15.0%
R&D / revenue11.1%
CapEx / revenue4.4%
Long-term debt / equityUnavailable
Effective tax rate-94.6%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open INSP in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-03View SEC filing
10-Q · Filed 2026-05-04View SEC filing
10-K · Filed 2026-02-13View SEC filing
10-Q · Filed 2025-11-03View SEC filing
10-Q · Filed 2025-08-04View SEC filing
10-Q · Filed 2025-05-05View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.