Financial Data and Key Metrics Changes - The company reported a net income of $14.8 million for Q4 2023, a significant increase from $3.2 million in the same period last year, resulting in diluted net income per share of $0.49 compared to $0.10 in Q4 2022 [6][28] - Total revenue for Q4 was $192.5 million, representing a 40% increase from $137.9 million in Q4 2022 [24][108] - Full year revenue for 2023 totaled $624.8 million, a 53% increase over $407.9 million in 2022 [109] Business Line Data and Key Metrics Changes - US revenue in Q4 was $189.4 million, a 41% increase from $134.3 million in the prior year period, driven by higher utilization at existing centers and the addition of new implanting centers [24][108] - International revenue decreased by 16% to $3.1 million due to delays in EU MDR approval affecting shipments [9][74] Market Data and Key Metrics Changes - The average selling price (ASP) in the US for Q4 was $25,000, slightly up from $24,900 in the prior year, while the ASP outside the US was $19,900, down from $20,400 [9] - The company expects full year revenue for 2024 to be in the range of $775 million to $785 million, representing a 24% to 26% increase compared to 2023 [10][105] Company Strategy and Development Direction - The company plans to focus on increasing procedure volumes at existing centers while training and opening new implanting centers, with expectations to activate 52 to 56 new centers per quarter in 2024 [83][87] - The introduction of the SleepSync digital platform aims to enhance patient experience and streamline management [8][107] - The Inspire V system is expected to have a limited market release in 2024, with a full launch targeted for 2025 [76][116] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving steady profitability in the second half of 2024, driven by improved operating leverage and strong patient demand [29][105] - The company anticipates pronounced seasonality in Q1 2024, following a strong Q4 2023, but expects to return to growth thereafter [29][100] Other Important Information - The company has onboarded a third-party vendor to assist with the prior authorization process, enhancing capacity to meet growing patient demand [7] - The gross margin for Q4 was 85.4%, up from 83.9% in the prior year, attributed to improved manufacturing yields and higher volumes [86] Q&A Session Summary Question: Can you provide more detail on the 2024 guidance? - Management indicated that the guidance includes expectations for utilization growth and the impact of label expansion and the Gen 5 launch [11][12] Question: What is the status of the Inspire V submission to the FDA? - The company is completing final testing and documentation for the Inspire V submission, targeting approval for a limited launch in 2024 [14][116] Question: How are investments in sleep centers performing? - Management noted that investments in sleep centers are aimed at easing bottlenecks and improving patient throughput, with ongoing education for sleep physicians [47][120] Question: What impact do you foresee from competition in the market? - The company is aware of competition and believes its clinical evidence remains superior, focusing on patient care and therapy adoption [140][158] Question: How will the new policy changes by UnitedHealthcare affect patient flow? - Management does not anticipate significant impact from UnitedHealthcare's new requirements, as most patients have already attempted CPAP therapy [142][161]

1 Inspire Medical Systems, Inc. February 2024 NYSE: INSP This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward-looking statements. In some cases, you can identify forward-looking statements by terms such as ''may,'' ''will,'' ''should,'' ''expect,'' ''plan,'' ''anticipate,'' ''could,'' "future," "outlook," ''intend,'' ''target,'' ''project,'' ''contemplate,'' ''bel ...

Company Overview - Inspire is the first and only FDA-approved neurostimulation technology for Obstructive Sleep Apnea (OSA)[27] - Over 50,000 patients have been treated with Inspire therapy[21, 27, 99] - The company has a well-capitalized balance sheet with $467 million in net cash as of September 30, 2023[27, 114] - Inspire has a strong financial profile with 83-85% gross margin[33] Market Opportunity - Approximately 17 million individuals in the U S have moderate to severe OSA[40] - The annual U S economic costs of untreated moderate to severe OSA are between $65 - $165 billion[40] - Inspire U S market is approximately $10 billion[41, 44] Financial Performance & Growth - The company's revenue has grown at a CAGR of 70% from 2017 to 2022[91] - Q3 2023 revenue was $153.3 million[114, 119] - The gross margin in Q3 2023 was 84.1%[114, 119] - The company expects FY2023 revenue to be in the range of $608M - $612M, representing 49% - 50% growth over FY2022[109] Patient Outcomes & Therapy - Inspire has a 4% risk of readmission vs ~15-20% for Palate and Multilevel surgeries[53] - Inspire has a 2% complication rate vs 15-20% for Palate and Multilevel surgeries[57] - 91% of patients say Inspire is better than CPAP, 93% would recommend Inspire, 92% would choose Inspire again, and 90% are satisfied with Inspire[86]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38468 ______________________________ Insp ...

Inspire Medical Systems, Inc. (NYSE:INSP) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET Company Participants Ezgi Yagci - Vice President of Investor Relations Tim Herbert - President & Chief Executive Officer Rick Buchholz - Chief Financial Officer Conference Call Participants John Block - Stifel Robbie Marcus - JPMorgan Travis Steed - Bank of America Adam Maeder - Piper Sandler Richard Newitter - Truist Securities Lei Huang - Wells Fargo Anthony Petrone - Mizuho Americas David Rescott - Baird ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38468 ______________________________ Inspire M ...

Sleep Apnea Innovation Disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forwardlooking statements. In some cases, you can identify forward-looking statements by terms such as ''may,'' ''will,'' ''should,'' ''expect,'' ''plan,'' ''anticipate,'' ''could,'' "future," "outlook," ''intend,'' ''target,'' ''project,'' ''contemplate,'' ''believe,'' ''estimate,'' '' ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________ FORM 10-Q ________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38468 ______________________________ Inspire ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38468 Inspire Medical Systems, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdi ...

Inspire Medical Systems, Inc. (NYSE:INSP) Q4 2022 Results Conference Call February 7, 2023 5:00 PM ET Company Participants Ezgi Yagci - Vice President of Investor Relations Tim Herbert - President & Chief Executive Officer Rick Buchholz - Chief Financial Officer Conference Call Participants Travis Steed - Bank of America Robbie Marcus - JPMorgan Adam Maeder - Piper Sandler Rich Newitter - Truist Larry Biegelsen - Wells Fargo John Block - Stifel Michael Polark - Wolfe Research Chris Pasquale - Nephron Resear ...