Inspire Medical Systems Reports Q3 2026 Revenue Decline Amid Reimbursement Headwinds
Inspire Medical Systems (INSP) reported third-quarter revenue of $206.7 million, a 7.9% decrease year-over-year, primarily driven by domestic coding and reimbursement challenges that created a $30 million headwind for the quarter. Despite the top-line decline, the company saw a 3% sequential revenue increase from Q2 and improved gross margins to 86.0%, aided by a higher sales mix of the Inspire V system. Financial performance was further impacted by restructuring charges and a legal settlement, leading to an adjusted diluted EPS of $0.14 compared to $0.37 in the prior year. However, the company maintains a strong liquidity position with $453.1 million in cash and no debt. Management has narrowed full-year 2026 revenue guidance to between $850 million and $860 million while initiating 'Project Horizon' to optimize production and organizational spending.
Topics: gross margin improvement guidance update reimbursement challenges revenue decline
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