Filing Flows › Inspire Medical Systems (INSP) › Q2 2026
Inspire Medical Systems (INSP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 3, 2026
Inspire Medical Systems (INSP) reported revenue of $201M for the second quarter 2026 (Q2 2026), -8% from a year earlier and -2% from the quarter before. Operating margin was -0.3%, net earnings $314K (0.2% of revenue).
Inspire Medical Systems, Q2 2026: revenue $201M (-8% year over year), operating margin -0.3%, net earnings $314K, operating cash flow $23.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $201M | -2% | -8% |
| Operating profit | −$514K | — | — |
| Net earnings | $314K | — | — |
| Operating cash flow | $23.2M | +81% | +765% |
| Free cash flow | $14.1M | +350% | — |
What changed
Revenue was $200.6M in Q2 2026, down 8% year over year and down 2% from the previous quarter.
Gross margin was 85.5%, up 1.5 points from Q2 2025. Operating costs exceeded revenue by $514K, an operating margin of -0.3%. Operating expenses fell 7% while revenue fell 8%. Net earnings were $314K. The effective tax rate was 89.9%. Non-operating items added $3.6M, 117% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $23.2M (up 765% year over year), 7397% of net earnings. Non-cash charges added back $4.6M of depreciation and amortization and $31.2M of share-based compensation. Working capital and other items used $12.9M. Capital expenditures of $9.2M left free cash flow of $14.1M.
Questions
What was Inspire Medical Systems' revenue in the second quarter 2026?
Inspire Medical Systems (INSP) reported revenue of $201M for the second quarter 2026 (Q2 2026), -8% from a year earlier and -2% from the quarter before.
Was Inspire Medical Systems profitable in the second quarter 2026?
Operating loss was $514K (-0.3% of revenue) and net earnings $314K.