MINNEAPOLIS, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Inspire Medical Systems, Inc. (NYSE:INSP) (Inspire), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea, today announced certain preliminary, unaudited results for the fourth quarter and full year ended December 31, 2023, and provided its initial full year 2024 guidance.
Preliminary, Unaudited Fourth Quarter and Full Year 2023 Revenue and Recent Business Highlights
- Revenue for the fourth quarter of 2023 is anticipated to be in the range of $192.3 million to $192.5 million, an approximately 40% increase over the same quarter of 2022
- Revenue for full year 2023 is anticipated to be in the range of $624.6 million to $624.8 million, an approximately 53% increase over full year 2022
- Activated 78 new centers in the U.S. in the fourth quarter of 2023, bringing the total to 1,180 U.S. medical centers implanting Inspire therapy
- Created 13 new sales territories in the U.S. in the fourth quarter of 2023, bringing the total to 287 U.S. sales territories
- Published 2023 Environmental, Social, and Governance (ESG) Report
Initial Full Year 2024 Revenue Guidance
- Revenue for full year 2024 is anticipated to be in the range of $775 million to $785 million, a 24% to 26% increase over full year 2023
"We are very pleased with our strong preliminary revenue performance in the fourth quarter as the team executed exceptionally well and finished the year with significant momentum," said Tim Herbert, President and Chief Executive Officer of Inspire Medical Systems. "Throughout 2023, we demonstrated improved operating leverage as our sales growth outpaced operating expenses. As a result, we expect to announce a profitable fourth quarter when we report our full financial results, currently planned for February 6, 2024."
The preliminary, unaudited revenue results described in this press release are estimates only and are subject to revision until Inspire reports its full financial results for 2023 in its Annual Report on Form 10-K.
Inspire previously announced its participation in the 41st Annual J.P. Morgan Healthcare Conference at the Westin St. Francis Hotel in San Francisco, ...