InspireMD(US:NSPR) Globenewswire·2025-03-12 11:00Core Insights - InspireMD, Inc. has made significant progress in 2024, particularly with the CGuard Prime carotid stent system, which is on track for potential U.S. approval in the first half of 2025 [3][10] - The company reported a revenue increase of 10.7% in Q4 2024 compared to Q4 2023, driven by growth in both new and existing markets [4][11] - Despite revenue growth, gross profit decreased due to rising costs, leading to a net loss of $9.17 million in Q4 2024, compared to a net loss of $5.41 million in Q4 2023 [5][7][16] Recent Business Highlights - The CEO highlighted the advancement of CGuard Prime towards FDA approval and the initiation of the CGUARDIANS II pivotal study for the TCAR market [3][10] - The company established its headquarters in Miami, Florida, to support the anticipated U.S. commercial launch of CGuard Prime [10] Financial Results for Q4 2024 - Total revenue for Q4 2024 was $1.95 million, up from $1.76 million in Q4 2023 [4][23] - Gross profit for Q4 2024 was $469,000, down from $505,000 in Q4 2023, reflecting increased costs of goods sold [5][23] - Operating expenses rose to $9.84 million in Q4 2024, a 55.8% increase from $6.31 million in Q4 2023, primarily due to higher salaries and clinical expenses [6][23] Financial Results for Full Year 2024 - For the full year 2024, revenue increased by 13.0% to $7.01 million from $6.21 million in 2023 [11][23] - Gross profit for the full year decreased by 16.7% to $1.51 million, with a gross margin decline to 21.5% from 29.1% in 2023 [12][13][23] - The net loss for the full year totaled $32.01 million, compared to a net loss of $19.92 million in 2023 [16][23] Cash Position - As of December 31, 2024, cash and cash equivalents and marketable securities totaled $34.64 million, down from $39.02 million a year earlier [8][23]