NSPR

MKT CAP:$58M

InspireMD, Inc.

Market Cap

$58M

Healthcare·Medical - Devices·🇮🇱 Israel·NASDAQ

Healthcare·Medical - Devices·🇮🇱·NASDAQ

Stock Price

$1.28-$0.58 (-30.91%)

Apr 23, 2026

Company Details

InspireMD, Inc., a medical device company, focuses on the development and commercialization of proprietary MicroNet stent platform technology for the treatment of vascular and coronary diseases in Europe, Latin America, the Middle East, and...

CEO

Marvin L. Slosman

IPO Date

Apr 12, 2011

Website

www.inspiremd.com

Key Metrics TTM

Revenue

$9M

+28.1% YoY

Net Income

-$49M

EPS (Diluted)

-$0.79

Free Cash Flow

-$37M

Revenue / Share

$0.12

Gross Margin

29.5%

Operating Margin

-547.0%

Net Margin

-543.3%

FCF Margin

-409.5%

P/S

6.5x

P/E

—

Earnings Reports

Q1 2026

May 8, 2026

PENDING

FY 2025

Mar 18, 2026

$9M+28.1%EPS -$0.76

Q4 2025

Mar 18, 2026

$3M+61.6%EPS -$0.14

Q3 2025

Nov 10, 2025

$3M+39.4%EPS -$0.17

Q2 2025

Aug 4, 2025

$2M+2.2%EPS -$0.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1M	$122.0K	-$4M
Q2 22	$2M	$431.0K	-$5M
Q3 22	$1M	$366.0K	-$5M
Q4 22	$1M	$198.0K	-$5M
Q1 23	$1M	$373.0K	-$4M
Q2 23	$2M	$491.0K	-$5M
Q3 23	$2M	$438.0K	-$6M
Q4 23	$2M	$505.0K	-$6M
Q1 24	$2M	$292.0K	-$7M
Q2 24	$2M	$331.0K	-$8M
Q3 24	$2M	$414.0K	-$8M
Q4 24	$2M	$469.0K	-$9M
Q1 25	$2M	$292.0K	-$11M
Q2 25	$2M	$313.0K	-$13M
Q3 25	$3M	$864.0K	-$13M
Q4 25	$3M	$1M	-$12M

Valuation

Quarter	P/S	P/E
Q1 22	38.7x	—
Q2 22	23.6x	—
Q3 22	15.4x	—
Q4 22	14.0x	—
Q1 23	12.9x	—
Q2 23	30.2x	—
Q3 23	39.1x	—
Q4 23	30.7x	—
Q1 24	24.6x	—
Q2 24	25.4x	—
Q3 24	27.3x	—
Q4 24	26.6x	—
Q1 25	27.5x	—
Q2 25	23.5x	—
Q3 25	23.1x	—
Q4 25	15.7x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$4M	-$4M
Q2 22	-$3M	-$3M
Q3 22	-$5M	-$5M
Q4 22	-$3M	-$3M
Q1 23	-$5M	-$5M
Q2 23	-$3M	-$3M
Q3 23	-$4M	-$4M
Q4 23	-$4M	-$4M
Q1 24	-$5M	-$5M
Q2 24	-$4M	-$5M
Q3 24	-$6M	-$6M
Q4 24	-$7M	-$7M
Q1 25	-$9M	-$9M
Q2 25	-$8M	-$9M
Q3 25	-$9M	-$9M
Q4 25	-$9M	-$10M

Capital Expenditures

Quarter	CapEx
Q1 22	$37.0K
Q2 22	$115.0K
Q3 22	$226.0K
Q4 22	$95.0K
Q1 23	$25.0K
Q2 23	$45.0K
Q3 23	$96.0K
Q4 23	$215.0K
Q1 24	$195.0K
Q2 24	$475.0K
Q3 24	$421.0K
Q4 24	$311.0K
Q1 25	$359.0K
Q2 25	$576.0K
Q3 25	$329.0K
Q4 25	$398.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+17.6%	+31.2%
Q2 22	+47.5%	+38.7%
Q3 22	+33.6%	+18.4%
Q4 22	-25.7%	+12.3%
Q1 23	+4.7%	-0.9%
Q2 23	+7.7%	+12.1%
Q3 23	+8.7%	+19.1%
Q4 23	+71.6%	+27.0%
Q1 24	+22.0%	+58.8%
Q2 24	+5.5%	+43.6%
Q3 24	+16.3%	+42.8%
Q4 24	+10.7%	+49.5%
Q1 25	+1.2%	+45.5%
Q2 25	+2.2%	+48.0%
Q3 25	+39.4%	+51.6%
Q4 25	+61.6%	+30.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$653.0K	55.2%
Q2 22	$674.0K	44.0%
Q3 22	$657.0K	45.9%
Q4 22	$368.0K	35.9%
Q1 23	$289.0K	23.3%
Q2 23	$930.0K	56.4%
Q3 23	$2M	104.2%
Q4 23	$2M	93.6%
Q1 24	$3M	173.3%
Q2 24	$3M	157.0%
Q3 24	$2M	135.0%
Q4 24	$2M	120.4%
Q1 25	$3M	178.5%
Q2 25	$3M	180.6%
Q3 25	$4M	140.5%
Q4 25	$3M	90.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$2M	$2M	$746.0K
Q2 22	$2M	$2M	$986.0K
Q3 22	$2M	$2M	$845.0K
Q4 22	$2M	$2M	$1M
Q1 23	$2M	$2M	$788.0K
Q2 23	$2M	$3M	$892.0K
Q3 23	$2M	$3M	$876.0K
Q4 23	$2M	$3M	$1M
Q1 24	$3M	$4M	$1M
Q2 24	$3M	$4M	$1M
Q3 24	$4M	$3M	$1M
Q4 24	$4M	$4M	$2M
Q1 25	$4M	$5M	$3M
Q2 25	$4M	$5M	$4M
Q3 25	$4M	$6M	$4M
Q4 25	$3M	$5M	$5M

Revenue Segments

Quarter	C Guard	M Guard	CGuard EPS
Q1 22	$1M	$22.0K	—
Q2 22	$2M	$26.0K	—
Q3 22	$1M	—	—
Q1 23	—	—	$1M
Q2 23	—	—	$2M
Q3 23	—	—	$2M

Revenue by Geography

Quarter	Germany	Italy	Other Countries	Poland	United States
Q1 22	$249.0K	$243.0K	$691.0K	—	—
Q2 22	$426.0K	$229.0K	$824.0K	$52.0K	—
Q1 23	$214.0K	$267.0K	$758.0K	—	—
Q2 23	$276.0K	$338.0K	$1M	—	—
Q1 24	$242.0K	$295.0K	$822.0K	$152.0K	—
Q2 24	$307.0K	$264.0K	$961.0K	$207.0K	—
Q4 24	$71.0K	$358.0K	$2M	—	—
Q1 25	$242.0K	$262.0K	$799.0K	$226.0K	—
Q2 25	$360.0K	$324.0K	$845.0K	$249.0K	—
Q3 25	$380.0K	$293.0K	$1M	$211.0K	$497.0K
Q4 25	$251.0K	$353.0K	$1M	$350.0K	$920.0K

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$8M	$22M	$30M
Q2 22	$6M	$20M	$26M
Q3 22	$4M	$17M	$21M
Q4 22	$5M	$13M	$18M
Q1 23	$4M	$9M	$13M
Q2 23	$12M	$35M	$47M
Q3 23	$14M	$29M	$43M
Q4 23	$10M	$29M	$39M
Q1 24	$9M	$25M	$34M
Q2 24	$28M	$19M	$47M
Q3 24	$16M	$25M	$40M
Q4 24	$19M	$16M	$35M
Q1 25	$12M	$14M	$26M
Q2 25	$12M	$8M	$19M
Q3 25	$63M	$0	$63M
Q4 25	$9M	$45M	$54M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	8M	+0.1%	+27.5%
Q2 22	8M	+0.0%	+1.3%
Q3 22	8M	+0.4%	+1.3%
Q4 22	8M	+2.5%	+3.1%
Q1 23	8M	+0.7%	+3.7%
Q2 23	21M	+160.4%	+169.9%
Q3 23	34M	+61.3%	+333.6%
Q4 23	22M	-35.7%	+171.8%
Q1 24	34M	+56.8%	+323.1%
Q2 24	36M	+4.8%	+70.2%
Q3 24	48M	+34.8%	+42.3%
Q4 24	49M	+1.1%	+123.8%
Q1 25	50M	+2.3%	+46.0%
Q2 25	51M	+2.0%	+42.2%
Q3 25	73M	+44.0%	+51.9%
Q4 25	73M	0.0%	+50.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$22.8K	52
Q2 22	$29.4K	52
Q3 22	$27.5K	52
Q4 22	$18.3K	56
Q1 23	$22.1K	56
Q2 23	$29.4K	56
Q3 23	$27.8K	56
Q4 23	$26.7K	66
Q1 24	$22.9K	66
Q2 24	$26.3K	66
Q3 24	$27.4K	66
Q4 24	$22.7K	86
Q1 25	$17.8K	86
Q2 25	$20.7K	86
Q3 25	$29.3K	86
Q4 25	$900	4K

Revenue / Employee