Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $28.6M | $50.6M | $82.0M | $115M | $233M | $408M | $625M | $803M | $912M |
| Revenue growth | — | 77.1% | 62.2% | 40.6% | 102.3% | 74.7% | 53.2% | 28.5% | 13.6% |
| Gross profit | $22.5M | $40.5M | $68.4M | $97.8M | $200M | $342M | $528M | $680M | $779M |
| Gross margin | 78.9% | 80.1% | 83.4% | 84.7% | 85.7% | 83.8% | 84.5% | 84.7% | 85.4% |
| Operating income | -$16.0M | -$20.4M | -$34.9M | -$56.2M | -$39.9M | -$47.6M | -$40.3M | $36.1M | $51.0M |
| Operating margin | -56.0% | -40.3% | -42.5% | -48.7% | -17.1% | -11.7% | -6.4% | 4.5% | 5.6% |
| Net income | -$17.5M | -$21.8M | -$33.2M | -$57.2M | -$42.0M | -$44.9M | -$21.2M | $53.5M | $145M |
| Net margin | -61.3% | -43.1% | -40.5% | -49.6% | -18.0% | -11.0% | -3.4% | 6.7% | 15.9% |
| EPS (diluted) | -$14.88 | -$1.50 | -$1.40 | -$2.19 | -$1.54 | -$1.60 | -$0.72 | $1.75 | $4.89 |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$15.8M | -$18.7M | -$32.8M | -$53.0M | -$20.1M | $11.6M | $24.7M | $130M | $117M |
| Capital expenditures | $412K | $250K | $2.74M | $2.46M | $4.67M | $9.10M | $23.6M | $39.1M | $38.5M |
| Free cash flow | -$16.2M | -$18.9M | -$35.6M | -$55.5M | -$24.8M | $2.47M | $1.02M | $91.1M | $78.5M |
| Share buybacks | — | — | — | — | — | $0.00 | $0.00 | $0.00 | $175M |
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $8.96M | $97.3M | $22.9M | $191M | $214M | $442M | $186M | $150M | $105M |
| Total assets | $25.1M | $200M | $181M | $281M | $295M | $565M | $677M | $808M | $907M |
| Total liabilities | $23.8M | $36.1M | $41.4M | $51.4M | $66.0M | $68.9M | $104M | $119M | $126M |
| Long-term debt | — | $24.5M | $24.5M | $24.5M | $24.5M | — | — | — | — |
| Shareholders' equity | $1.33M | $164M | $140M | $230M | $229M | $496M | $573M | $690M | $781M |
| Retained earnings | -$125M | -$147M | -$180M | -$237M | -$279M | -$324M | -$345M | -$292M | -$146M |
| Shares (wtd avg diluted) | 1.27M | 23.4M | 23.8M | 26.1M | 27.3M | 28.1M | 29.3M | 30.5M | 29.8M |
Every figure is extracted from Inspire Medical Systems, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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