What is the 13F Pro Quality Score for INSP?

13F Pro ranks Inspire Medical Systems, Inc. (INSP) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View INSP's current score at https://13fpro.ai/company/INSP (free sign-up required for the full ranking).

Where does 13F Pro source INSP data?

All Inspire Medical Systems, Inc. fundamentals and ownership data come directly from SEC EDGAR. Inspire Medical Systems, Inc. files with the SEC under CIK 1609550. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is INSP in?

Inspire Medical Systems, Inc. (INSP) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

What drives INSP's revenue?

Per Inspire Medical Systems, Inc.'s latest 10-Q filed with the SEC on 2026-08-03, the biggest revenue drivers are: United States ($187.3M, -9.6% YoY); International ($13.3M, +33.6% YoY). Figures are extracted from the filing text and machine-verified against the document. Full breakdown at https://13fpro.ai/company/INSP.

What are INSP's largest expenses?

Inspire Medical Systems, Inc.'s latest 10-Q reports these as the largest expense items: Selling, general and administrative ($147.3M, -7.7% YoY); Research and development ($24.7M, -5.8% YoY); Cost of goods sold ($29.1M, -16.0% YoY). Sourced directly from SEC EDGAR filing text for Q2 FY2026 (quarter ended June 30, 2026).

How often is INSP research updated on 13F Pro?

INSP's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Inspire Medical Systems, Inc.(INSP)Stock Analysis

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SEC EDGAR: CIK 1609550 INSP stock profile & AI dashboard →

13F Pro Quality Score

63.7/100

Rank #593 of 2,962 stocksTOP 25%

View Healthcare peers →

Rankings refresh quarterly once 80% of peers have filed (~45 days after quarter-end). Next update: ~Nov 14, 2026.

Revenue Growth

74.2/100

Profitability

79.1/100

Balance Sheet

93.5/100

Earnings Quality

64.3/100

Free Cash Flow

61.8/100

Institutional Flow

23.6/100

Revenue Scale

48.4/100

Dilution Risk

12.3/100

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Why INSP Scores 64/100

exact factor attribution · 2026-09-11

INSP's composite is driven by revenue growth and profitability, held back by shareholder dilution and institutional flow. Bars show each factor's exact push vs. a median company, using the same weights the ranking engine applies.

Revenue growth

+4.8 pts

74th pct

Profitability

+4.4 pts

79th pct

Capital efficiency

+4.3 pts

94th pct

Free cash flow

+1.8 pts

62th pct

Earnings quality

+1.4 pts

64th pct

Earnings growth

+0.4 pts

58th pct

Scale

-0.2 pts

48th pct

Institutional flow

-1.3 pts

24th pct

Shareholder dilution

-1.9 pts

12th pct

Latest change (2026-08-04): 46 → 38 · ↓ Revenue growth 80→56; ↓ Free cash flow 50→27

Factor percentiles are cross-sectional ranks across the ~2,800-stock scored universe, computed from SEC EDGAR filings. Not investment advice.

INSP Stock Analysis & AI Quality Score

Data updated 2026-09-11

AI stock analysis and institutional research for Inspire Medical Systems, Inc. (INSP), a Healthcare sector company. 13F Pro's AI-powered ranking engine scores INSP at 63.7/100 on a 32-signal composite quality model, placing it at rank #593 of 2,962 stocks — the top 25% of the AI-ranked universe. INSP scores in the top quartile across balance sheet strength (93.5), profitability (79.1). Areas of concern include institutional flow (23.6), which score below median versus the broader universe. Shareholder dilution risk is elevated at 12.3/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Inspire Medical Systems, Inc. reports quarterly revenue of $200.6M, net income of $314.0K, free cash flow of $14.1M. Top institutional holders of INSP by reported 13-F value include BlackRock, WELLINGTON MANAGEMENT GROUP LLP, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. INSP trades on the NYSE exchange and files with the SEC under CIK 1609550. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate INSP daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Inspire Medical Systems, Inc. directly from SEC EDGAR. Inspire Medical Systems, Inc.'s 13F Pro composite quality score has ranged between 29 and 66 since 2021, currently 63.7 — an improving long-term trajectory across 68 quarterly and live scoring snapshots.

What's Driving INSP's Business? Latest 10-Q Breakdown

✓ 16/16 datapoints verified

AI-extracted from Inspire Medical Systems, Inc.'s 10-Q filed 2026-08-03 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.

Q2 revenue declined 7.6% YoY to $200.6M, hurt by coding/reimbursement uncertainty and WISeR program, though gross margin improved to 85.5% on higher Inspire V mix.

Biggest Revenue Drivers

United States$187.3M-9.6% YoY

Decline driven primarily by adverse impacts of coding and reimbursement challenges and WISeR program requirements.

International$13.3M+33.6% YoY

Growth in select European and Asia Pacific markets.

Biggest Revenue Drivers

Total revenue: $200.6M-7.6% YoY

United States$187.3M-9.6% YoY

Decline driven primarily by adverse impacts of coding and reimbursement challenges and WISeR program requirements.

International$13.3M+33.6% YoY

Growth in select European and Asia Pacific markets.

Largest Expense Items

Selling, general and administrative$147.3M-7.7% YoY

Lower stock-based compensation from prior year accelerated expense and reduced marketing spend.

Research and development$24.7M-5.8% YoY

Lower stock-based compensation and higher internal cost allocations to other departments, partially offset by next-generation generator development.

Cost of goods sold$29.1M-16.0% YoY

Improved by higher gross margin from increased Inspire V system sales mix versus Inspire IV.

Margins: Gross margin improved 150 bps to 85.5% primarily due to higher sales mix of Inspire V system, which carries higher margins than Inspire IV. Operating margin remained slightly negative at -0.3%, as revenue decline offset expense reductions.

Watch Items from the Filing

Coding and reimbursement uncertainty for Inspire V adversely impacting revenue; CPT code volatility and MAC modifier requirements creating claim processing delays and potential physician reimbursement reductions of up to 30%.
WISeR prior authorization program in six pilot states causing delays for Medicare procedures; expected to continue adversely impacting revenue through end of 2026.
GLP-1 drug adoption for OSA in short-term is adversely impacting revenue, though survey indicates long-term patient pool for Inspire therapy may expand.
Project Horizon restructuring plan announced post-quarter expects $20M-$25M pre-tax charges including severance and non-cash supply chain optimization costs; anticipated to generate $30M annualized investment capacity for growth.
Multiple securities class action and derivative lawsuits pending relating to Inspire V launch issues and reimbursement disclosures; DOJ False Claims Act investigation and qui tam lawsuit also ongoing.

AI-extracted and verified against SEC EDGAR filing text. Not investment advice.

Read the full 10-Q on SEC EDGAR →Share on X

Revenue

Q2 2026

$200.6M

Net Income

Q2 2026

$314.0K

Free Cash Flow

Q2 2026

$14.1M

ROIC

Q2 2026

-0.3%

Period

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro

Revenue

+13.6% YoY

$912.0MFY 2025

FY22 $407.9MFY23 $624.8MFY24 $802.8MFY25 $912.0M

Net Income

+171.8% YoY

$145.4MFY 2025

FY22 $-44.9MFY23 $-21.2MFY24 $53.5MFY25 $145.4M

Operating Income

+41.2% YoY

$51.0MFY 2025

FY22 $-47.6MFY23 $-40.3MFY24 $36.1MFY25 $51.0M

EPS (Diluted)

+179.4% YoY

$4.89FY 2025

FY22 $-1.60FY23 $-0.72FY24 $1.75FY25 $4.89

Total Assets

+12.2% YoY

$907.3MFY 2025

FY22 $564.9MFY23 $676.8MFY24 $808.4MFY25 $907.3M

Total Debt

—FY 2025

FY22 —FY23 —FY24 —FY25 —

Op. Cash Flow

-10.2% YoY

$117.0MFY 2025

FY22 $11.6MFY23 $24.7MFY24 $130.2MFY25 $117.0M

Free Cash Flow

-13.9% YoY

$78.5MFY 2025

FY22 $2.5MFY23 $1.0MFY24 $91.1MFY25 $78.5M

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Revenue	$912.0M +13.6%	$802.8M +28.5%	$624.8M +53.2%	$407.9M +74.7%	$233.4M +102.3%	$115.4M
Net Income	$145.4M +171.8%	$53.5M +353.0%	$-21.2M +52.9%	$-44.9M -6.8%	$-42.0M +26.5%	$-57.2M
Operating Income	$51.0M +41.2%	$36.1M +189.6%	$-40.3M +15.4%	$-47.6M -19.4%	$-39.9M +29.1%	$-56.2M
EPS (Diluted)	$4.89 +179.4%	$1.75 +343.1%	$-0.72 +55.0%	$-1.60 -3.9%	$-1.54 +29.7%	$-2.19
Total Assets	$907.3M +12.2%	$808.4M +19.4%	$676.8M +19.8%	$564.9M +91.4%	$295.1M +4.9%	$281.2M
Total Debt	—	—	—	—	$24.5M +0.0%	$24.5M
Operating Cash Flow	$117.0M -10.2%	$130.2M +428.3%	$24.7M +113.1%	$11.6M +157.5%	$-20.1M +62.1%	$-53.0M
Free Cash Flow	$78.5M -13.9%	$91.1M +8798.7%	$1.0M -58.6%	$2.5M +110.0%	$-24.8M +55.3%	$-55.5M

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Available Research

13F Pro tracks comprehensive data for Inspire Medical Systems, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of INSP

BlackRock, Inc.
$211.3M4,737,519 sh
WELLINGTON MANAGEMENT GROUP LLP
$106.3M2,382,660 sh
VANGUARD PORTFOLIO MANAGEMENT LLC
$93.2M2,088,961 sh
Soleus Capital Management, L.P.
$86.2M1,931,436 sh
AQR CAPITAL MANAGEMENT LLC
$80.9M1,856,800 sh
UBS Group AG
$73.4M1,645,511 sh
D. E. Shaw & Co., Inc.
$65.6M1,470,462 sh
NOMURA HOLDINGS INC
$61.1M1,369,410 sh
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)
$57.9M1,296,862 sh
VANGUARD CAPITAL MANAGEMENT LLC
$56.7M1,270,928 sh

Fund	Value	Shares
BlackRock, Inc.	$211.3M	4,737,519
WELLINGTON MANAGEMENT GROUP LLP	$106.3M	2,382,660
VANGUARD PORTFOLIO MANAGEMENT LLC	$93.2M	2,088,961
Soleus Capital Management, L.P.	$86.2M	1,931,436
AQR CAPITAL MANAGEMENT LLC	$80.9M	1,856,800
UBS Group AG	$73.4M	1,645,511
D. E. Shaw & Co., Inc.	$65.6M	1,470,462
NOMURA HOLDINGS INC	$61.1M	1,369,410
DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C)	$57.9M	1,296,862
VANGUARD CAPITAL MANAGEMENT LLC	$56.7M	1,270,928

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Is INSP a good stock to buy?

13F Pro's AI-powered analysis of Inspire Medical Systems, Inc. (INSP) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for INSP are available on the INSP stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing. INSP is classified as a small company.

Which hedge funds own INSP?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling INSP. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Inspire Medical Systems, Inc.'s investment landscape.