InspireMD(NSPR) - 2024 Q4 - Annual Results

Revenue and Profit - Total revenue for Q4 2024 increased by $188,000, or 10.7%, to $1,949,000 compared to $1,761,000 in Q4 2023[4] - For the full year 2024, revenue increased by $804,000, or 13.0%, to $7,009,000 from $6,205,000 in 2023[10] - Gross profit for Q4 2024 decreased by $36,000, or 7.1%, to $469,000, with a gross margin of 24.1%[5][22] - Gross profit for the full year 2024 decreased by $301,000, or 16.7%, to $1,506,000, with a gross margin of 21.5%[11][12] Operating Expenses and Loss - Total operating expenses for Q4 2024 were $9,836,000, an increase of $3,523,000, or 55.8%, compared to $6,313,000 in Q4 2023[7] - Total operating expenses for the full year 2024 were $35,009,000, an increase of $12,059,000, or 52.5%, compared to $22,950,000 in 2023[13] - Net loss for Q4 2024 totaled $9,174,000, or $0.19 per share, compared to a net loss of $5,405,000, or $0.16 per share, in Q4 2023[8][22] - Net loss for the full year 2024 totaled $32,005,000, or $0.76 per share, compared to a net loss of $19,916,000, or $0.82 per share, in 2023[15][22] Cash and Securities - Cash and cash equivalents and marketable securities as of December 31, 2024, were $34,637,000, down from $39,023,000 as of December 31, 2023[9] Liabilities and Equity - Total current liabilities increased to $7,678 million in 2024 from $6,020 million in 2023, representing a 27.5% increase[25] - Total long-term liabilities rose to $3,043 million in 2024, up from $2,122 million in 2023, marking a 43.4% increase[25] - Total liabilities reached $10,721 million in 2024, compared to $8,142 million in 2023, reflecting a 31.7% increase[25] - Total equity decreased to $36,086 million in 2024 from $39,501 million in 2023, a decline of 8.9%[25] - Additional paid-in capital increased to $289,589 million in 2024, up from $261,000 million in 2023, showing an increase of 11%[25] - The accumulated deficit widened to $(253,506) million in 2024 from $(221,501) million in 2023, indicating a deterioration of 14.5%[25] - The number of common shares issued and outstanding increased to 26,611,033 in 2024 from 21,841,215 in 2023, a growth of 21.9%[25] - Total liabilities and equity amounted to $46,807 million in 2024, down from $47,643 million in 2023, a decrease of 1.8%[25] Lease and Employee Liabilities - Operating lease liabilities increased to $1,796 million in 2024 from $1,038 million in 2023, representing a 73.2% increase[25] - Liability for employee rights upon retirement and others rose to $1,247 million in 2024, up from $1,084 million in 2023, a 15.1% increase[25] Future Prospects - The company anticipates a potential U.S. launch of the CGuard Prime carotid stent system in the first half of 2025, pending FDA approval[3][6]