Inspire Medical reports Q4 EPS 49c, consensus (10c)

Reports Q4 revenue $192.5M, consensus $187.24M…Achieved gross margin of 85.4% in the fourth quarter of 2023.Activated 78 new U.S. centers in the fourth quarter of 2023, bringing the total to 1,180 U.S. medical centers providing Inspire therapy; Created 13 new U.S. sales territories in the fourth quarter of 2023, bringing the total to 287 U.S. sales territories… “We are thrilled with our strong performance in the fourth quarter, growing revenue 40% year-over-year and delivering over $14 million in net income. Our growth continues to be driven primarily by higher utilization at existing sites and was complemented by the addition of 78 new U.S. implanting centers and 13 new sales territories,” said Tim Herbert, President, and Chief Executive Officer of Inspire Medical Systems. “During the quarter, we worked diligently with commercial payers to update coverage policies for our expanded indications, and we achieved several important milestones, including surpassing 60,000 patients treated with Inspire therapy and reporting our first quarter of operating income. We expect this strong operating leverage to continue and to reach profitability for the second half of 2024.”