Inspire Medical Systems (INSP) reported second-quarter 2026 revenue of $200.6 million, down 7.6% from the prior-year period, with net earnings of $0.3 million and diluted EPS of $0.01.
The company raised its full-year 2026 revenue outlook to $835 million to $875 million and announced Project Horizon, a strategic growth plan expected to create about $30 million of annualized growth investment capacity.
- Second-quarter revenue was $200.6 million, compared with $217.1 million a year earlier.
- Gross margin increased 150 basis points to 85.5%.
- Operating loss was $0.5 million, compared with an operating loss of $3.3 million in the prior-year period.
- Net cash provided by operating activities was $23.2 million for the quarter.
- Cash, cash equivalents and investments totaled $415.2 million as of June 30, 2026.
- Project Horizon is expected to involve $20 million to $25 million of pre-tax restructuring charges, with most actions expected to be completed in the third quarter.
$INSP Insider Trading Activity
$INSP insiders have traded $INSP stock on the open market 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $INSP stock by insiders over the last 6 months:
- JOHN RONDONI (See Remarks) sold 700 shares for an estimated $30,107
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$INSP Hedge Fund Activity
We have seen 146 institutional investors add shares of $INSP stock to their portfolio, and 194 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FULLER & THALER ASSET MANAGEMENT, INC. removed 668,099 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $34,460,546
- VESTAL POINT CAPITAL, LP added 539,269 shares (+inf%) to their portfolio in Q1 2026, for an estimated $27,815,495
- MARSHALL WACE, LLP removed 531,079 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $27,393,054
- EVENTIDE ASSET MANAGEMENT, LLC removed 440,205 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $22,705,773
- ADAR1 CAPITAL MANAGEMENT, LLC added 390,197 shares (+2601.3%) to their portfolio in Q1 2026, for an estimated $20,126,361
- GOLDMAN SACHS GROUP INC added 379,118 shares (+133.1%) to their portfolio in Q1 2026, for an estimated $19,554,906
- DRIEHAUS CAPITAL MANAGEMENT LLC removed 348,500 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $17,975,630
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
