Inspire Medical Systems, Inc. November 2025 NYSE: INSP 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 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 ...

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, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Delaware 26-1377674 (Address of principal executive offices) (Zip Cod ...

Exhibit 99.1 Inspire Medical Systems, Inc. Announces Third Quarter 2025 Financial Results and Updates 2025 Outlook MINNEAPOLIS, MN - November 3, 2025 - Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire, or the company), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today reported financial results for the quarter ended September 30, 2025. Recent Business Highlights "The Inspire team had a ...

MINNEAPOLIS, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE: INSP) (Inspire, or the company), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today reported financial results for the quarter ended September 30, 2025. Recent Business Highlights Generated revenue of $224.5 million in the third quarter of 2025, a 10% increase over the same quarter last yearAchieved gross m ...

Group 1: Fund Performance - Baron Discovery Fund reported a year-to-date return of 10.75% for Institutional Shares, compared to an 11.65% return for the Russell 2000 Growth Index [1] - The fund's performance in the third quarter was up 2.85%, lagging behind the Index's return of 12.19% [1] Group 2: Inspire Medical Systems, Inc. - Inspire Medical Systems, Inc. focuses on minimally invasive solutions for obstructive sleep apnea, with a one-month return of 1.46% and a 52-week loss of 61.46% [2] - As of October 29, 2025, Inspire Medical Systems, Inc. had a stock price of $75.17 and a market capitalization of $2.223 billion [2] - The company experienced a decline in share value due to lowered 2025 financial guidance, attributed to delays in the rollout of its next-generation device, Inspire 5, and other operational challenges [3] - Inspire Medical Systems, Inc. reported revenue of $217.1 million in Q2 2025, marking an 11% increase from Q2 2024 [4] Group 3: Hedge Fund Interest - Inspire Medical Systems, Inc. was held by 34 hedge fund portfolios at the end of Q2 2025, a decrease from 37 in the previous quarter [4] - The company is not listed among the 30 Most Popular Stocks Among Hedge Funds [4]

Core Insights - Inspire Medical Systems, Inc. is set to present at the 2025 UBS Global Healthcare Conference on November 10, 2025, at 11:45 a.m. Eastern Time [1][2] - The company specializes in innovative, minimally invasive solutions for patients suffering from obstructive sleep apnea [3] Company Overview - Inspire Medical Systems focuses on the development and commercialization of proprietary Inspire therapy, which is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology for treating moderate to severe obstructive sleep apnea [3] - The company aims to provide safe and effective treatment options for patients with this condition [3] Presentation Details - The presentation will be available via a live webcast, with a replay accessible for two weeks afterward in the Event Archive section of Inspire's Investor website [2]

Core Insights - Inspire Medical Systems, Inc. (NYSE:INSP) is recognized as one of the top medical device stocks to invest in, particularly due to its recent clinical data showcasing the effectiveness of its Inspire V system for treating obstructive sleep apnea [1][3] Group 1: Clinical Data and Performance - On October 10, Inspire Medical Systems published clinical data from a restricted U.S. market release at ten medical centers and a clinical investigation in Singapore [1] - The Singapore study revealed a 20% reduction in surgical times compared to the previous Inspire IV system, with all procedures successfully completed for 44 patients [2] - The Inspire V system demonstrated superior performance in respiratory sensing, achieving an inspiratory phase overlap percentage of 87.1% compared to 79.4% for its predecessor [2]

Core Insights - Headwaters Capital Management's third-quarter 2025 investor letter primarily focused on the performance of AI-related investments and highlighted the challenges faced by Inspire Medical Systems, Inc. [1] Company Performance - Inspire Medical Systems, Inc. (NYSE:INSP) experienced a one-month return of -3.86% and a significant decline of 60.95% over the past 52 weeks, closing at $77.68 per share with a market capitalization of $2.297 billion on October 13, 2025 [2] - The company reported revenue of $217.1 million for Q2 2025, marking an 11% increase from Q2 2024 [4] Investment Challenges - Inspire Medical Systems, Inc. was identified as the top detractor in the portfolio, with a decline of 43% attributed to mismanagement in the rollout of their next-generation sleep apnea device, issues with insurance coverage, inventory management, and competition concerns [3] - Despite these challenges, revenue growth is projected to be in the +8-10% range for the second half of 2025, with an optimistic outlook of approximately +10% growth for 2026 [3] Market Position - Inspire Medical Systems, Inc. is not among the 30 most popular stocks among hedge funds, with 34 hedge fund portfolios holding the stock at the end of Q2 2025, down from 37 in the previous quarter [4] - The company is viewed as having a quality med tech asset in a large global market, trading at only 2x 2025 revenue, with 33% of its market cap in cash and generating free cash flow [3]

Core Insights - Inspire Medical Systems (INSP) has presented promising clinical data for its Inspire V system, demonstrating strong safety, enhanced respiratory sensing, and improved patient adherence, which are crucial for treating obstructive sleep apnea through minimally invasive neurostimulation [1][4][8] Company Performance - Following the announcement of the Inspire V system data, INSP's shares declined by 6.2% on the closing day, with a year-to-date drop of 59.5%, contrasting with the industry's growth of 27.2% and the S&P 500's gain of 12.2% [3] - Despite the stock decline, the positive study data is expected to facilitate faster adoption and stronger revenue growth, with improved safety and higher patient adherence likely to drive higher implant volumes [4][5] Clinical Study Findings - The Inspire V system trials indicated a 20% reduction in surgical times and superior Apnea Hypopnea Index (AHI) improvement compared to the previous Inspire IV model [8][9] - In a clinical trial in Singapore involving 44 patients, the Inspire V system achieved a primary endpoint of 87.1% inspiratory phase overlap, outperforming Inspire IV's 79.4% [10] - At a mean follow-up of 246 days, patient adherence averaged 5.5 hours per night, with AHI improving from 34.4 to 8.3 events per hour [11] - A limited U.S. market release involved 101 patients, all of whom successfully completed device implantations with no serious adverse events, and showed an average nightly usage of 6.8 hours [12] Market Outlook - The global neurostimulation devices market was valued at approximately USD 5.6 billion in 2022 and is projected to reach USD 14.8 billion by 2030, growing at a CAGR of 12.8% from 2023 to 2030 [14] - Key drivers for market growth include an aging population, technological advancements, and increasing demand for therapies addressing chronic diseases [15]

Core Insights - Inspire Medical Systems has released clinical outcomes data for its Inspire V system, showcasing its effectiveness for patients with obstructive sleep apnea (OSA) [1][2][3] - The data will be presented at the AAO-HNS and ISSS meetings in Indianapolis, highlighting the system's advancements in safety, efficacy, and patient adherence [1][2] Clinical Data Summary - The Inspire V system trial in Singapore involved 44 patients, showing a 20% reduction in surgical times and a 100% success rate for procedures [2][3] - The primary endpoint, inspiratory phase overlap percentage (IPOP), was 87.1% for Inspire V compared to 79.4% for Inspire IV, indicating superior performance [2] - Patient adherence averaged 5.5±1.7 hours/night, with a significant reduction in the Apnea Hypopnea Index (AHI) from 34.4 events/hour at baseline to 8.3 events/hour at six months [2] Market Release Evaluation - In the U.S., a limited market release involved 101 patients, all of whom successfully used the Inspire therapy with no serious adverse events [3] - At the 60-day check, patients averaged 6.8 hours/night of therapy usage, with a median AHI reduction from 30 to 4.5 events/hour [3] - Surgeons reported an average surgical implant time of 34.5 minutes for Inspire V, with increased implant volume due to shorter procedure times [4] Company Overview - Inspire Medical Systems focuses on innovative, minimally invasive solutions for OSA and is the first company to receive FDA, EU MDR, and PDMA approvals for its neurostimulation technology [8]