Inspire Medical Systems to Report Earnings as Analysts Expect 8.9% Revenue Decline

Inspire Medical Systems will report quarterly results after market close, with analysts expecting revenue to decline 8.9% year on year, according to TradingView. That would reverse the 10.5% increase the company recorded in the same quarter last year. Inspire Medical Systems develops and sells the Inspire implantable hypoglossal nerve stimulation system for adults with moderate-to-severe obstructive sleep apnea who cannot tolerate CPAP, selling directly to trained ENT and sleep medicine providers in the United States.

Inspire's Last Quarter and Analyst Estimates

Inspire beat analysts' revenue expectations last quarter, reporting revenues of $200.6 million, down 7.6% year on year. TradingView described it as an exceptional quarter for the company, with an impressive beat of analysts' full-year EPS guidance estimates.

Analysts covering Inspire have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Inspire has a history of exceeding Wall Street's expectations. The company heads into earnings with an average analyst price target of $68, compared to the current share price of $68.04.

Among peers in the healthcare equipment and supplies segment, Bausch + Lomb delivered year-on-year revenue growth of 7.3%, meeting analysts' expectations, and Integer Holdings reported a revenue decline of 3.9%, falling short of estimates by 1.4%.

Inspire's Revenue Record and Reimbursement Coding

According to akta.pro company records, Inspire posted full-year 2025 revenue of $912 million, representing 14% year-over-year growth, and Q4 2025 revenue of $269.1 million, up 12.2% year over year and surpassing analyst projections by 1.1%. Q1 2026 revenue was $204.6 million, up 1.6% year over year, with results impacted by approximately $20 million due to coding and reimbursement uncertainty for the Inspire V system. The same records show CMS implemented new billing codes for hypoglossal nerve stimulation procedures effective January 1, 2026, addressing the coding confusion that disrupted the Inspire V launch and pressured Q1 2026 revenue by approximately $20 million.

Coding Disruption Through 2026

In September 2026, Inspire reported Q2 2026 revenue fell about 7.5% year over year due to coding and reimbursement disruptions but beat internal expectations, Investing.com reported. In August 2026, Medical Buyer reported that Inspire's revenue declined 7.6% to $200.6 million for Q2 2026, primarily due to decreasing U.S. revenue amid evolving coding and reimbursement challenges. Also in August 2026, Ticker Report said Inspire updated its fiscal 2026 guidance, forecasting EPS of $1.050 to $1.450 against a consensus estimate of $0.910, and revenue guidance of $835.0 million to $875.0 million versus a consensus of $848.9 million.

Inspire's Fiscal 2026 Guidance

The fiscal 2026 revenue guidance of $835.0 million to $875.0 million and EPS guidance of $1.050 to $1.450 were issued on August 3, 2026, per Ticker Report. Inspire's results are due after market close.