Filing Flows › InspireMD (NSPR) › Q4 2025
InspireMD (NSPR) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 18, 2026
InspireMD (NSPR) reported revenue of $3.1M for the fourth quarter 2025 (Q4 2025), +62% from a year earlier and +25% from the quarter before. Operating margin was -383.7%, net loss $11.8M (373.5% of revenue).
InspireMD, Q4 2025: revenue $3.1M (+62% year over year), operating margin -383.7%, net loss $11.8M, operating cash flow −$9.3M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1M | +25% | +62% |
| Operating profit | −$12.1M | — | — |
| Net earnings | −$11.8M | — | — |
| Operating cash flow | −$9.3M | — | — |
What changed
Revenue was $3.1M in Q4 2025, up 62% year over year and up 25% from the previous quarter.
Gross margin was 37.5%, up 13.4 points from Q4 2024. Operating costs exceeded revenue by $12.1M, an operating margin of -383.7%. Operating expenses grew 35% against revenue growth of 62%. The fastest-growing cost line was Sales & marketing (+174%). The quarter ended with a net loss of $11.8M, narrower than the previous quarter's $12.7M loss.
Operating cash flow was −$9.3M. Non-cash charges added back $475.7M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items used $476.1M. Capital expenditures of $398K exceeded it, leaving free cash flow of −$9.7M.
Questions
What was InspireMD's revenue in the fourth quarter 2025?
InspireMD (NSPR) reported revenue of $3.1M for the fourth quarter 2025 (Q4 2025), +62% from a year earlier and +25% from the quarter before.
Was InspireMD profitable in the fourth quarter 2025?
Operating loss was $12.1M (-383.7% of revenue) and net loss $11.8M.
Source: InspireMD 10-K on SEC EDGAR.