Core Viewpoint - Inspire Medical Systems has lowered its full-year revenue forecast for 2025, expecting sales to be between $900 million and $910 million, down from a previous estimate of $940 million to $955 million, with adjusted EPS projected between $0.40 and $0.50, significantly lower than the earlier forecast of $2.20 to $2.30 [2][3] Financial Performance - In Q2 2025, Inspire reported revenue of $217.1 million, a year-on-year increase of 10.8%, exceeding analyst expectations of $214.3 million. However, the company recorded a net loss of $3.6 million, a decline from a net profit of $9.8 million in the same period of 2024, primarily due to increased operating expenses and one-time costs [4] - Operating expenses for the quarter reached $185.7 million, a 15% increase year-on-year, while the gross margin was 84.0%, slightly down by 0.8 percentage points compared to the previous year [4] Inventory and Product Transition - As of June 30, the company's inventory stood at $121.6 million, up from $80.1 million at the end of the previous year, indicating transitional inventory pressure between Inspire IV and Inspire V [5] Product Development - Inspire Medical's core product, the Inspire neurostimulation system, is designed for treating moderate to severe obstructive sleep apnea (OSA) patients who cannot tolerate CPAP therapy. The system includes components that stimulate the hypoglossal nerve to prevent airway collapse during sleep [6][8] - Inspire V, the latest iteration of the product, received FDA approval in 2024 and has been launched in the U.S. However, market conversion has been slower than expected, impacting the company's financial performance [12] Legal and Competitive Challenges - The company incurred $1.7 million in legal expenses during the quarter, partly related to a civil investigation by the U.S. Department of Justice and a patent infringement lawsuit against competitor Nyxoah [13] - Inspire Medical emphasizes that these legal costs are temporary and do not reflect core operational performance. The company plans to enhance clinical data accumulation and improve market education to boost commercialization [15] Company Overview - Inspire Medical Systems, based in Minneapolis, Minnesota, focuses on OSA treatment and is the first company to achieve non-CPAP treatment through neurostimulation. Since product approval, over 100,000 patients have been treated globally [16] - The company has established over 1,435 implantation centers and 335 sales territories in the U.S. and has received regulatory approvals in Europe, Japan, and other regions. In 2024, the company reported annual revenue of $803 million, with a compound annual growth rate exceeding 60% [16] - Despite a slowdown in growth for 2025, the company remains focused on product conversion efficiency, international market expansion, and physician education to drive the penetration of Inspire V [16][17]

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 暂定议程 报名：首届全球心血管大会 | 奖项报名倒计时 报名：首届全球骨科大会 | 奖项报名倒计时 2025年3月12日，神经科学医疗技术公司MicroTransponder宣布，在F轮融资中筹集了 6500万美元 （合约 4.7亿 人民币）以支持其Vivistim系统的发展。 本轮融资由美国风险投资公司（U.S. Venture Partners）领投，其他现有投资方（如Osage University Partners、Action Potential Venture Capital等）也参与其中。新加入的投资方包括Gilde Healthcare 和Longitude Capital。 # Vi v ist i m 系 统 MicroTransponder公司开发的Vivistim配对迷走神经刺激（Paired VNS™）系统是一种创新的神经调节 技术，专门用于中风后上肢功能康复。 该系统结合了迷走神经刺激（Vagus Nerve Stimulation, VNS）与康复训练，通过增强神经可塑性，显 著改善慢性缺血性中风患者的手部和手 ...

2025年2月10日，Inspire Medical Systems（纽约证券交易所代码：INSP）公布了截至2024年12月31日的季度和年度财务业绩。公司2024年第四季度收入为2.397亿美 元，同比增长25%。 2024年全年收入为 8.028亿美元 （约合人民币59亿元），同比增长 28% 。 Inspire Medical Systems 是一家专注于开发和商业化创新性、微创性治疗方案的医疗技术公司，旨在为阻塞性睡眠呼吸暂停患者提供解决方案。 # 近期业务亮点及2025年全年指引 公司董事长兼首席执行官蒂姆·赫伯特（Tim Herbert）表示："我们对第四季度的强劲表现感到非常兴奋，收入同比增长25%，运营收入接近3,200万美元， 每股摊薄净收入同比增长135%。在本季度，我们稳步推进Inspire V的全面上市，优化领导团队以推动未来增长，持续提升盈利能力，启动了7,500万美元的 加速股票回购计划，并达到了一个重要的里程碑，超过9万名患者接受了Inspire疗法。我们期待在2025年借助Inspire V的上市继续保持强劲表现。" ▲图片源自公司官网（下同） # 2024年第四季度财务业绩 ...