INSP
HealthcareInspire Medical Systems, Inc. · Medical - Devices · $1B
What is Inspire Medical Systems, Inc.?
Inspire Medical Systems is a medical technology company focused on treating obstructive sleep apnea through an implantable neurostimulation device. Headquartered in Golden Valley, Minnesota, the company serves patients in the United States and internationally.
Inspire Medical generates revenue by developing and commercializing the Inspire system — a neurostimulation implant that treats moderate to severe obstructive sleep apnea. Unlike CPAP therapy, the device works by monitoring a patient's breathing and delivering mild stimulation to the hypoglossal nerve, keeping the airway open during sleep. The company sells its system to hospitals and surgical centers, with ongoing revenue tied to device implantation procedures and follow-up care.
Inspire Medical Systems was incorporated in 2007 and is based in Golden Valley, Minnesota.
- Inspire neurostimulation implant for obstructive sleep apnea
- Closed-loop breathing monitoring technology
- Minimally invasive hypoglossal nerve stimulation therapy
- International commercial expansion of the Inspire system
Is INSP a Good Stock to Buy?
UQS Score rates INSP as Good overall, reflecting a balanced profile across its five quality pillars.
The Risk pillar stands out as the strongest aspect of INSP's profile, suggesting the company carries a relatively manageable financial and operational risk profile compared to many small-cap medical device peers. The Quality pillar also earns a Good rating, indicating the underlying business fundamentals are reasonably sound.
The Moat and Growth pillars both register as Neutral, meaning competitive differentiation and near-term expansion momentum are not yet standout characteristics relative to the broader healthcare sector.
Pro members can view the full pillar breakdown and underlying financial metrics behind INSP's UQS Score at uqs-score.com. Sign up free →
Past performance does not guarantee future results. UQS Score is based on fundamental data and is not a buy/sell recommendation.
Does INSP pay dividends?
No — Inspire Medical Systems, Inc. does not currently pay a dividend.
Inspire Medical Systems does not currently pay a dividend. As a growth-oriented medical technology company, capital is directed toward expanding commercial reach, funding clinical development, and scaling the Inspire system internationally rather than returning cash to shareholders through distributions.
When does INSP report earnings?
Inspire Medical Systems reports earnings on a quarterly cadence, consistent with standard practice for US-listed public companies.
The company's recent results have reflected its ongoing commercial buildout, with procedure volumes and international expansion serving as key drivers of top-line performance. Profitability trends remain a focus for investors given the company's growth-stage positioning in the medical device space.
For the most current quarterly results and guidance, visit Inspire Medical Systems' investor relations page directly.
INSP Price History
-73.2% over 5Y
Monthly close, adjusted for stock splits and dividend reinvestment.
What if I invested in Inspire Medical Systems, Inc.?
Based on Inspire Medical Systems, Inc.'s historical closing prices, adjusted for stock splits and dividend reinvestment. Past performance does not guarantee future results. This is for informational purposes only and is not financial advice.
INSP Long-term Outlook
Based on INSP's UQS pillar profile, the fundamental outlook is shaped by a Neutral Growth rating alongside a Strong Risk profile. This combination suggests the company is navigating its expansion phase with relative financial discipline, though growth acceleration is not yet reflected as a standout strength. The Neutral Valuation rating indicates the market is pricing INSP in line with expectations — neither deeply discounted nor significantly stretched.
Growth drivers
- Continued adoption of the Inspire system across US surgical centers
- International market expansion into new geographies
- Growing awareness and diagnosis rates for obstructive sleep apnea
Key risks
- Competitive pressure from alternative OSA treatment technologies
- Reimbursement and insurance coverage dynamics for implantable devices
- Execution risk associated with scaling a single-product commercial platform
INSP vs Peers
Inspire Medical operates in a broader medical technology and healthcare equipment landscape alongside several companies that serve adjacent patient or provider markets.
Alphatec focuses on spine surgery solutions, competing in the surgical implant space but targeting a different patient condition than Inspire's sleep apnea focus.
AdaptHealth distributes home medical equipment including CPAP devices, making it an indirect competitor in the broader OSA treatment market.
UFP Technologies supplies specialty packaging and components to medical device manufacturers, operating further upstream in the healthcare supply chain.
Frequently Asked Questions
What does Inspire Medical Systems do?
Inspire Medical Systems develops and sells an implantable neurostimulation device that treats moderate to severe obstructive sleep apnea. The Inspire system monitors breathing during sleep and delivers mild nerve stimulation to keep the airway open, offering an alternative to CPAP therapy for patients who cannot tolerate it.
Does INSP pay dividends?
No, Inspire Medical Systems does not pay a dividend. The company reinvests available capital into commercial expansion, clinical programs, and international growth rather than distributing cash to shareholders.
When does INSP report earnings?
Inspire Medical reports financial results on a quarterly basis. For the exact schedule and most recent results, check the investor relations section of the company's official website.
Is INSP a good stock to buy?
UQS Score rates INSP as Good overall. The Risk pillar is the strongest element of its profile, while Moat and Growth are both Neutral. Whether INSP fits your portfolio depends on your investment goals — the full pillar breakdown is available to Pro members at uqs-score.com.
Is INSP overvalued?
INSP's Valuation pillar is rated Neutral, suggesting the market is pricing the stock broadly in line with expectations for a company at its stage. It is neither clearly discounted nor significantly stretched relative to its fundamentals based on the UQS framework.
How does INSP compare to its competitors?
Inspire Medical occupies a distinct niche in the OSA treatment space with its neurostimulation implant. Competitors like AdaptHealth operate in home medical equipment distribution, while Alphatec focuses on spine surgery — meaning direct product overlap is limited, though all compete for healthcare capital allocation.
What is INSP's market cap bracket?
Inspire Medical Systems is classified as a small-cap company. This places it in a segment of the market that can offer growth potential but may also carry higher volatility and liquidity considerations compared to large- or mega-cap peers.
Who founded Inspire Medical Systems?
Inspire Medical Systems was incorporated in 2007. Detailed founding history, including key executives involved in the company's early development, is publicly available through the company's official disclosures and investor relations materials.
Is INSP a long-term quality stock?
As a long-term quality indicator, INSP's UQS Score of Good reflects reasonable fundamentals anchored by a Strong Risk rating and Good Quality pillar. Long-term sustainability depends on continued commercial execution, competitive positioning, and whether the Moat and Growth pillars strengthen over time.
What is the main competitive advantage of Inspire Medical Systems?
Inspire's primary differentiation is its FDA-cleared neurostimulation implant — a clinically validated alternative to CPAP for OSA patients. The proprietary closed-loop technology and established clinical evidence base create meaningful barriers for new entrants, though the Moat pillar is currently rated Neutral in the UQS framework.
What sector does INSP belong to?
Inspire Medical Systems operates in the Healthcare sector, specifically within the medical technology and medical devices industry. It focuses on the treatment of obstructive sleep apnea through implantable neurostimulation rather than pharmaceuticals or diagnostics.
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Pro Analysis
INSP — Score History
| Date | UQS | Quality | Moat | Growth | Risk | Value | Change |
|---|---|---|---|---|---|---|---|
| May 21, 2026 | 57.5 | 64.3 | 44.0 | 41.6 | 100.0 | 47.4 | -0.3 |
| May 19, 2026 | 57.8 | 64.3 | 44.0 | 41.6 | 100.0 | 49.2 | -0.5 |
| May 16, 2026 | 58.3 | 64.5 | 44.0 | 41.6 | 100.0 | 52.4 | +0.9 |
| May 7, 2026 | 57.4 | 61.1 | 44.0 | 42.9 | 100.0 | 50.0 | +0.7 |
| May 6, 2026 | 56.7 | 61.1 | 44.0 | 42.9 | 100.0 | 45.6 | -2.1 |
| May 3, 2026 | 58.8 | 61.1 | 44.0 | 51.2 | 100.0 | 48.6 | 0.0 |
| Apr 26, 2026 | 58.8 | 61.1 | 44.0 | 51.2 | 100.0 | 48.8 | +0.3 |
| Apr 19, 2026 | 58.5 | 61.1 | 44.0 | 51.2 | 100.0 | 46.2 | -0.7 |
| Apr 18, 2026 | 59.2 | 61.3 | 44.0 | 51.2 | 100.0 | 50.9 | -1.5 |
| Apr 15, 2026 | 60.7 | 61.2 | 44.0 | 51.2 | 100.0 | 61.3 | -0.3 |
INSP — Pillar Breakdown
Quality
— 63.8/100 (25%)Inspire Medical Systems, Inc. shows solid profitability with healthy returns on capital and reasonable margins.
How effectively capital is deployed to generate returns.
Profitability relative to shareholders' equity.
Ability to convert revenue into operating profit.
Bottom-line profit as a share of revenue.
Asset productivity — how much gross profit each dollar of assets generates.
Free cash flow relative to market value.
Growth
— 41.6/100 (20%)Inspire Medical Systems, Inc. shows steady but unspectacular growth, typical for mature companies.
Revenue trajectory over the last twelve months.
Compound annual revenue growth rate over 3 years.
Year-over-year earnings per share growth.
Analyst consensus for future revenue growth.
Analyst consensus for future earnings growth.
Risk
— 100.0/100 (15%)Inspire Medical Systems, Inc. carries minimal financial risk with conservative leverage and strong solvency.
Debt levels relative to earnings capacity.
Total debt relative to shareholder equity.
Short-term liquidity — ability to pay near-term obligations.
Earnings capacity relative to interest payments.
Valuation
— 47.8/100 (15%)Inspire Medical Systems, Inc. has a mixed valuation — some metrics suggest fair value while others appear stretched.
Inverse of forward P/E — higher yield means cheaper stock.
How many years of FCF the market cap represents.
Enterprise value multiple relative to sector median.
Moat
— 44/100 (25%)Inspire Medical Systems, Inc. possesses some competitive advantages but faces meaningful competition. The Moat pillar evaluates competitive advantages across five dimensions: Switching Costs, Network Effects, Cost Advantage, Intangible Assets, and Scale & Ecosystem. Sign in to customize moat ratings for INSP.
Score Composition
Financial Data
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How is the INSP UQS Score Calculated?
The UQS (Unified Quality Score) for Inspire Medical Systems, Inc. is calculated using a proprietary 6-pillar framework with 29 financial metrics. Each pillar evaluates a different dimension on a 0–100 scale, then combines into a single weighted score. Scoring thresholds are calibrated per sector. Momentum is an optional Pro toggle — without it, you get the 5-pillar / 25-metric core shown below.
Quality (25%) measures profitability and capital efficiency — ROIC, ROE, margins, GP/Assets, and FCF Yield.
Moat (25%) assesses Inspire Medical Systems, Inc.'s competitive advantages across switching costs, network effects, cost advantages, intangible assets, and ecosystem scale.
Growth (20%) tracks revenue trajectory and earnings momentum, combining historical results with analyst forward estimates.
Risk (15%) is inversely scored — lower leverage and strong balance sheet health result in higher scores.
Valuation (15%) measures whether Inspire Medical Systems, Inc. is fairly priced using earnings yield, price-to-FCF, PEG ratio, and EV/EBITDA relative to sector peers.
Six investor-inspired presets are available, each with different pillar weights: Balanced, Buffett, Munger, Lynch, Cathie Wood, and Graham. The public score shown here uses the Balanced preset. Learn more in our FAQ.