InspireMD Inc. (NASDAQ:NSPR) reported stronger-than-expected fourth-quarter results for 2025, beating both earnings and revenue forecasts as sales accelerated following the U.S. launch of its CGuard Prime device.
The company posted earnings per share of -$0.14 for the quarter, outperforming analyst expectations of -$0.19. Revenue reached $3.15 million, well above the forecast of $2.32 million. Following the announcement, InspireMD shares climbed about 12.8% in premarket trading to roughly $2.02.
Revenue growth driven by U.S. market
Total revenue rose 62% year over year to about $3.1 million, up from $1.9 million in the same quarter of 2024. The increase was largely fueled by the commercial rollout of the CGuard Prime carotid stent in the United States after receiving FDA approval in June 2025.
The company said the shift toward higher U.S. sales improved its revenue mix and helped boost margins. U.S. revenue reached approximately $866,000 during the quarter, representing a 74% sequential increase.
Gross profit totaled about $1.2 million, equivalent to 37.5% of revenue.
For the previous twelve months through the third quarter of 2025, InspireMD reported total revenue of $7.78 million with a gross margin of roughly 25%. The company also reported a strong liquidity position, with a current ratio of 6.51, indicating that liquid assets significantly exceed short-term liabilities.
Market reaction
Investors reacted positively to the results, sending the stock higher in premarket trading after the announcement. The move reflected confidence in the company’s ability to grow revenue and expand in the U.S. market following regulatory approval of its flagship device.
Outlook and product development
Looking ahead, InspireMD expects continued revenue growth supported by the expansion of the CGuard Prime platform in the United States.
The company is also working on a next-generation delivery system designed to improve technical performance and ease of use. That product is expected to be introduced in the fourth quarter of 2026.
Analysts have recently revised their earnings estimates upward, and current price targets range between $4 and $6 per share.
“Our Q4 results reflect the successful execution of our strategy to penetrate the U.S. market with CGuard Prime, and we are excited about the future growth opportunities as we continue to expand our product offerings and market presence,” said CEO Marvin Slosman.
Risks and challenges
Despite the strong quarterly performance, several risks remain. Delays in regulatory approvals for future products could slow growth, while increasing competition in the carotid intervention market may pressure margins. Supply chain disruptions could also affect manufacturing and delivery timelines, and broader economic conditions may influence healthcare spending.
Focus on expansion strategy
During the earnings call, analysts asked about the timeline for FDA approval of the TCAR-indicated CGuard Prime stent, which the company expects in the third quarter of 2026. Executives also addressed plans for managing operating expenses while expanding in the U.S. market, emphasizing a measured growth strategy aimed at balancing expansion with financial discipline.