Inspire Medical Systems, Inc. Announces Preliminary Results for the Fourth Quarter and Full Year 2024 and Provides Initial 2025 Revenue Guidance

Financial Performance - Revenue for Q4 2024 is anticipated to be in the range of $239.5 million to $239.7 million, a 25% increase over Q4 2023 [6] - Revenue for full year 2024 is expected to be between $802.6 million and $802.8 million, a 28% increase over full year 2023 [6] - Initial full year 2025 revenue guidance is projected to be in the range of $940 million to $955 million, representing a 17% to 19% increase over full year 2024 [3] Business Highlights - Activated 72 new centers in the U.S. in Q4 2024, bringing the total to 1,435 U.S. medical centers implanting Inspire therapy [6] - Created 12 new sales territories in the U.S. in Q4 2024, increasing the total to 335 U.S. sales territories [6] - Initiated the soft launch of the Inspire V neurostimulator with over 40 implants completed in Singapore and the U.S. [6] Organizational Changes - Jason Kelly appointed as Chief Manufacturing and Quality Officer effective January 20, 2025, bringing 10 years of experience from Stryker Corporation [3] - Carlton Weatherby expanded role to Chief Strategy and Growth Officer, leading U.S. Sales, Marketing, and Strategy teams [4] - Randy Ban transitioned to EVP, Patient Access and Therapy Development, focusing on enhancing patient outcomes and access to Inspire therapy [5] - Ivan Lubogo moved to SVP, Strategic Sales, leading a new team focused on Integrated Delivery Networks and strategic accounts [7] - Joe Sander promoted to SVP U.S. Sales, leveraging over 20 years of sales management experience [8] Leadership and Strategy - The company implemented a new organizational structure to drive continued growth and advance the adoption of Inspire therapy [6] - The leadership changes are aimed at fueling growth, enhancing patient outcomes, and expanding market reach [3][4][5][7][8] Market and Product Development - Inspire therapy is the first and only FDA, EU MDR, and PDMA-approved neurostimulation technology for moderate to severe obstructive sleep apnea [11] - The company is focused on expanding its leadership team and enhancing its commercial strategy to capitalize on growth opportunities [3][4]