Filing Flows › InspireMD (NSPR) › Q3 2025
InspireMD (NSPR) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
InspireMD (NSPR) reported revenue of $2.5M for the third quarter 2025 (Q3 2025), +39% from a year earlier and +42% from the quarter before. Operating margin was -517.3%, net loss $12.7M (503.7% of revenue).
InspireMD, Q3 2025: revenue $2.5M (+39% year over year), operating margin -517.3%, net loss $12.7M, operating cash flow −$8.6M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.5M | +42% | +39% |
| Operating profit | −$13.1M | — | — |
| Net earnings | −$12.7M | — | — |
| Operating cash flow | −$8.6M | — | — |
What changed
Revenue was $2.5M in Q3 2025, up 39% year over year and up 42% from the previous quarter.
Gross margin was 34.2%, up 11.4 points from a year earlier. Operating costs exceeded revenue by $13.1M, an operating margin of -517.3%. Operating expenses grew 57% against revenue growth of 39%. The fastest-growing cost line was Sales & marketing (+198%). The quarter ended with a net loss of $12.7M, narrower than the previous quarter's $13.2M loss.
Operating cash flow was −$8.6M. Non-cash charges added back $128K of depreciation and $3.5M of share-based compensation. Capital expenditures of $329K exceeded it, leaving free cash flow of −$9.0M.
Questions
What was InspireMD's revenue in the third quarter 2025?
InspireMD (NSPR) reported revenue of $2.5M for the third quarter 2025 (Q3 2025), +39% from a year earlier and +42% from the quarter before.
Was InspireMD profitable in the third quarter 2025?
Operating loss was $13.1M (-517.3% of revenue) and net loss $12.7M.
Source: InspireMD 10-Q on SEC EDGAR.