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Inspire Medical Systems (INSP) guidance and outlook
Inspire Medical Systems (INSP) raised some and lowered other parts of its guidance on Nov 2, 2026: Operating margin 4.5%–5.5% for FY2026; EPS −$0.36 to −$0.10 for FY2026; EPS $1.20–$1.40 for FY2026; Tax rate 120%–175% for FY2026. Inspire Medical Systems' 10-Q filed Nov 2, 2026 makes 17 forward-looking statements.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | $850M–$860M | reaffirmed |
| Operating margin | FY2026 | 4.5%–5.5% | reaffirmed |
| EPS | FY2026 | −$0.36 to −$0.10 | lowered |
| EPS | FY2026 | $1.20–$1.40 | raised |
| Tax rate | FY2026 | 120%–175% | raised |
| Tax rate | FY2026 | 33%–34% | raised |
| Capital expenditures | FY2026 | $35.0M–$40.0M | reaffirmed |
From the earnings release filed Nov 2, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Nov 2, 2026
- Historically, we have experienced seasonality in our first and fourth fiscal quarters, and we expect this trend to continue.
- On August 3, 2026, we announced a strategic growth plan, named Project Horizon, intended to create additional investment capacity to accelerate revenue growth through:
- We expect to incur a total of approximately $25 million of pre-tax restructuring charges in connection with Project Horizon.
- The majority of actions related to the restructuring were completed in the third quarter of 2026 and we expect that all actions will be substantially complete by the end of 2026.
- These and other recent coding and reimbursement decisions (particularly the uncertainty of the decisions and volatility of the announcements from multiple stakeholders) have adversely impacted our revenue in the first nine months of 2026 and we anticipate that this will continue to adversely impact revenue during the remainder of 2026.
- We expect the 2027 final rates will be announced in November 2026.
- We expect that CMS will issue their proposed valuation in July 2027 with final valuations issued in November 2027 and effective January 1, 2028.
- We anticipate that this will continue to adversely impact revenue for the remainder of 2026, although to a lesser extent than in the first nine months of the year.
- In 2025, we began optimizing our sales model through targeted territory consolidation and increased field clinical representatives (FCRs).
- We believe that some of these patients will see a reduction in their BMI into our indication, and that some of those patients will not have their OSA fully resolved and will require further treatment.
- This reinforces our belief that the overall number of patients eligible for Inspire therapy will increase in the long-term due to the availability of GLP-1s, although there can be no assurance of such benefit at this time.
- • Research and development expenses decreased $2.0 million, or 8.4%, to $22.2 million, primarily due to lower stock-based compensation expense primarily driven by forfeitures related to actions of Project Horizon and increased internal cost allocations into SG&A and cost of goods sold, partially offset by an increase in development costs, mainly for our next generation neurostimulator, and $1.3 million of…
Inspire Medical Systems' latest quarter
Inspire Medical Systems, Q3 2026: revenue $207M (-8% year over year), operating margin -13.9%, net loss $24.4M, operating cash flow $46.4M. The chart follows the revenue to costs, profit and cash.
Questions
Did Inspire Medical Systems raise or lower its guidance?
Inspire Medical Systems (INSP) raised some and lowered other parts of its guidance on Nov 2, 2026: Operating margin 4.5%–5.5% for FY2026; EPS −$0.36 to −$0.10 for FY2026; EPS $1.20–$1.40 for FY2026; Tax rate 120%–175% for FY2026.
What does Inspire Medical Systems expect?
Historically, we have experienced seasonality in our first and fourth fiscal quarters, and we expect this trend to continue. On August 3, 2026, we announced a strategic growth plan, named Project Horizon, intended to create additional investment capacity to accelerate revenue growth through: We expect to incur a total of approximately $25 million of pre-tax restructuring charges in connection with Project Horizon.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.