Inspire Medical Systems Reports Earnings
Second Quarter Earnings Beat Expectations
Company's Revenue Grows Despite Supply Chain Challenges
Inspire Medical Systems Inc. (NYSE: INSP) reported earnings per share of 32 cents for the second quarter of 2024, beating the Zacks Consensus Estimate by 2 cents. The company's revenue for the quarter was $215.2 million, a 12% increase from the same period last year.
Despite ongoing supply chain challenges, Inspire Medical Systems was able to increase its sales volume. The company's gross margin also improved, from 62.3% in the second quarter of 2023 to 64.5% in the second quarter of 2024.
"We are pleased with our performance in the second quarter," said Inspire Medical Systems CEO Timothy Herbert. "We continue to see strong demand for our products, and we are confident that we are well-positioned for continued growth in the future."
Inspire Medical Systems is a medical device company that develops and manufactures implantable neurostimulation systems. The company's products are used to treat a variety of conditions, including sleep apnea, chronic pain, and movement disorders.
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