Inspire Medical Systems (NYSE:INSP) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Posted by Francis Steltz on Nov 3rd, 2026

Inspire Medical Systems (NYSE:INSP – Get Free Report) posted its earnings results on Monday. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.09 by $0.05, FiscalAI reports. Inspire Medical Systems had a net margin of 15.03% and a return on equity of 8.64%. The business had revenue of $206.69 million for the quarter, compared to the consensus estimate of $204.31 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was down 7.9% compared to the same quarter last year.

Here are the key takeaways from Inspire Medical Systems’ conference call:

Third-quarter revenue declined 7.9% year over year to $206.7 million, while adjusted operating income fell to $1.9 million from $10.9 million; management estimated coding and reimbursement challenges reduced quarterly revenue by approximately $30 million.
Inspire narrowed its 2026 revenue outlook to $850 million–$860 million and now expects adjusted operating margin of 4.5%–5.5% and adjusted diluted EPS of $1.20–$1.40, reflecting an estimated $120 million full-year coding and reimbursement impact.
The company reported improving reimbursement visibility, including a proposed increase in 2027 hospital and ASC reimbursement and approval of a Category I CPT code effective January 1, 2028, which management expects to simplify billing and expand access.
Management expects to return to growth in 2027, initially guiding to low single-digit revenue growth as coding disruption eases, battery replacement revenue increases, and Project Horizon funds approximately $30 million of annualized growth investments.
Inspire is adding support in approximately 40 high-potential U.S. markets, increasing patient outreach and navigation efforts, and targeting cardiology referrals and ambulatory surgery centers to improve patient flow and procedure volumes.

Inspire Medical Systems Stock Down 0.9%

INSP stock opened at $67.52 on Tuesday. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 5.37 and a beta of 0.73. The company’s fifty day simple moving average is $68.69 and its 200 day simple moving average is $58.82. Inspire Medical Systems has a 12-month low of $38.91 and a 12-month high of $147.03.

Inspire Medical Systems News Roundup

Here are the key news stories impacting Inspire Medical Systems this week:

Positive Sentiment: Inspire reported third-quarter revenue of approximately $206.7 million, exceeding the $204.3 million consensus estimate. Adjusted earnings of $0.14 per share also topped published estimates of roughly $0.09–$0.10. Inspire Medical Systems Announces Third Quarter 2026 Financial Results
Positive Sentiment: Management’s commentary pointed toward a potential recovery in the company’s reimbursement environment, which could support procedure volumes and growth if payer-related pressures ease. Inspire Medical Tops Consensus But Misses the Whisper
Neutral Sentiment: The earnings call was closely watched by analysts for updates on reimbursement, demand and the company’s path back to sustained growth following recent operating challenges. Inspire Medical Systems Q3 2026 Earnings Call Transcript
Negative Sentiment: Revenue declined 7.9% from the year-ago quarter, while earnings fell to $0.14 per share from $0.38. The results indicate that reimbursement and utilization headwinds remain material despite the quarterly beat. Inspire Medical Systems Q3 Earnings and Revenues Beat Estimates
Negative Sentiment: Although INSP exceeded official consensus forecasts, reports indicate it missed higher “whisper” expectations, limiting the positive impact of the headline earnings beat and contributing to the weaker share-price reaction. Inspire Medical Tops Consensus But Misses the Whisper

Insiders Place Their Bets

In other news, insider Jason Kelly sold 963 shares of Inspire Medical Systems stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $59.55, for a total value of $57,346.65. Following the completion of the transaction, the insider directly owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. This trade represents a 4.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INSP. Weiss Ratings upgraded shares of Inspire Medical Systems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. KeyCorp reissued a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Stifel Nicolaus increased their price objective on Inspire Medical Systems from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, September 11th. Evercore set a $54.00 target price on Inspire Medical Systems in a research report on Tuesday, August 4th. Finally, Barclays started coverage on Inspire Medical Systems in a research report on Tuesday, October 6th. They set an “underweight” rating and a $65.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.82.

Check Out Our Latest Stock Analysis on Inspire Medical Systems

Inspire Medical Systems Company Profile

(Get Free Report)

Inspire Medical Systems, Inc develops and commercializes medical devices for the treatment of obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly narrows or becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed to help keep the airway open by stimulating the hypoglossal nerve, which controls muscles involved in maintaining airway patency.

Inspire therapy is intended for certain adults with moderate to severe OSA who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.